Owning a business has its unique rewards and benefits that you can’t otherwise experience if you were simply an employee. If you think 2019 is the year you’ll finally be free from corporate slavery and try your hand at business, the cannabis industry may be a good place to start.
The legal marijuana market has been growing in leaps and bounds in recent years especially with widespread legalization and increased public acceptance. In North America alone, the sales of legal cannabis reached an all-time high of $9.7 billion in 2017, according to a study by Arcview Market Research and BDS Analytics. The same research also forecasts worldwide spending on legal cannabis to reach $32 billion by 2022. If these figures have convinced you that marijuana is where the money’s at, then here are seven of the best cannabis business ideas you can try investing in 2019.
If you have graphic design skills and an eye for style, then a great business idea would be to sell clothes online. The thought of opening your brick-and-mortar shop may sound like too much work especially if you are a first-timer in business, which is why an online boutique is a way to go. Many online platforms are equipped with features that allow sellers to easily track inventory, promote products, and transact with customers all at the click of a button.
Make your merchandise stand out by creating dope designs that are different; this is where your design skills go into play. Promote your products through your own social media pages, or you can tap the help of social media influencers. Many celebrities and social media icons are loud and proud supporters of marijuana legalization. You can get a free endorsement from them by sending them samples of your items.
Travel and Tour Agency
From dispensaries, to greenhouses, to head shops, weed legalization has made it possible for all kinds of weed-related businesses to sprout. If you live in an area that has legalized marijuana for years, chances are there’s probably a thriving marijuana community and culture where you are.
You can take advantage of this by starting your travel and tour agency that specializes in promoting local cannabis products and the culture as a whole. Start researching the different shops and destinations in your city and state, and get creative with itineraries and packages. For example, you can promote romantic itineraries for couples or history- and culture-focused trips for first-timers. Promote your services through social media or by partnering with related businesses like car rentals and souvenir shops.
If you are an experienced marijuana consumer and have considerable knowledge of the different cannabis strains and their unique effects, you can use what you know to start a business as a professional reviewer. The marijuana market is expected to grow alongside increased legalization, and this means many first-timers will be in need of reliable resources on where to get the best marijuana products.
You can respond to this need by starting a blog where you write reviews about the different marijuana products that you have tried. Expand your readership by promoting your website on social media. Once you have a solid following and readership, you can start contacting dispensaries and cannabis retailers and offer to review their products for a fee.
Another way to monetize the traffic on your website would be to install ads.
Detox Drinks and Products
Although marijuana legalization has spread like wildfire over the years, it is important to note that the substance remains illegal on the federal level. This has resulted in several prickly situations, especially in companies that require job applicants and employees to undergo drug tests.
Some employers are legally allowed to enforce strict zero-drug-tolerance policies in the workplace even in states where consuming cannabis is legal. For this reason, you may find it a feasible business idea to sell cannabis detox products. These treatments work by cleansing the blood, urine, and even saliva of drug toxins and are useful for passing drug tests.
Smoking isn’t the only way to enjoy marijuana, and this is good news if you enjoy making magic in the kitchen. Combine your love for cooking with the growing demand for cannabis products by starting a restaurant that specializes in marijuana edibles.
Space cakes are the stuff of stoner movies, but you don’t have to limit yourself to that. Let your creative juices flow by making more exciting concoctions, like salads sprinkled with cannabis oil, cannabis-infused desserts, and more. If opening a physical shop sounds too overwhelming right now, you can start by selling your marijuana edibles online first.
One-Stop Vape Hub
As marijuana becomes legal, more people are finding ways to consume it in more convenient and stress-free ways. This is one of the reasons that make vape pens popular. These portable devices use refillable cartridges, so users do not need to manually roll a joint or carry around a lot of weed paraphernalia around to enjoy a good high.
Open a vape store that offers everything smokers need in one place, from vape pens to cartridges. You basically have a captive market with this one-stop shop. Build solid rapport with your customers by offering loyalty programs or signing them up in a mailing list to update them on new products and special promos.
If you live in an area with a sizable number of marijuana businesses, like greenhouses and dispensaries, then you can opt to do business-to-business transactions such as a provider of delivery services. As their business grows, marijuana growers will need a reliable way to transport their merchandise to their processing plants or outlets.
Research on the best equipment and methods to transport cannabis products and how to keep them fresh. In addition to transporting raw materials, you can offer to deliver products directly to customers. Take time to understand the needs of your potential corporate clients so you can tailor-fit your services on them.
It goes without saying that the laws of your state govern these business ideas. That said, make sure you take time to understand the marijuana legislation in your area before you take the leap and start your own cannabis business.