How to make money in the Cannabis Industry?
When it comes to making money in the cannabis industry, the options are endless. With more and more countries legalizing its farming and consumption, everyone finds an opportunity to fill their coffers. The industry is slowly inching towards its peak, and now is the right time to grab the opportunity to ride the wave. Here are a few easy ways to do that.
1. Become a consultant:
Consulting is always the best way to share your knowledge while getting paid for it. Along those lines, the cannabis industry also requires professional consultants. The cannabis industry runs by abiding stringent laws, in terms of growing, trading, and even consuming cannabis seeds. Although many countries are legalizing the use of cannabis, one still has to comply with the laws of the land.
A cannabis consultant plays a pivotal role, as laws change very frequently, one minute change can equate to a whole lot of adjustment and disaster if left unchecked. Hence, consulting becomes important.
Having expertise in the regulations of the cannabis industry can come in handy for other businesses, and guide them. You can start by offering guidance on licensing procedures, designing, construction, and cultivation of the plant. In case you have prior experience or are a lawyer, you might find it much easier to make money in consultancy.
2. Grow it out:
If you are someone interested in farming or gardening, you can start by opening a cannabis farm. Just get familiar with the state laws, and if it allows you to grow, you can start your own growing business. You can start farming with good quality strawberry cough seeds at ILGM. Then, secure a permit later on from the state’s regulatory authority to open up shop to sell the produce.
The entire cannabis industry depends upon a handful of people who are expert growers. They put in their knowledge, efforts, as well as time, to cultivate the best cannabis plants. The grow masters command over $100,000 every year, along with profits, which make the job certainly in ‘high’ demand.
3. Explore the culinary world:
Are you a chef looking to explore the culinary world? Well, you can put your adept hands to work and make money in the cannabis industry. Although a majority of people are using cannabis for medical reasons, they still look for different ways to utilize and transform it. Edibles are among the top choice, and if you are a chef, you can try your hand at creating food and drinks with cannabis.
If you have the talent, you can get a job in cannabis edibles. Otherwise, if you have enough capital, you can start your own little shop. Take some inspiration from celebrity chef Chris Sayegh and get cooking.
The best way to add value in the industry is always through entrepreneurship, more so when it comes to the cannabis industry. While people need medicinal cannabis, they also need retail stores from where they can buy it. Moreover, the technology-oriented generation likes to buy cannabis online in Quebec, so you can even expand your reach through the web.
If ever you decide to start your own company, finances involved in cannabis is of another matter. The good news is we at scrubbed.net has the knowledge and expertise when it comes to cannabis accounting. While you focus on growing your business we’ll take care of the rather complicated laws of cannabis accounting.
5. Become an extraction consultant:
A lot of hard work goes into producing high-end, clean cannabis, thanks to the process called extraction. It involves the separation of oil and trichomes from the flowers. It takes an expert to carry out this task, but the work is fun, and the products are rewarding.
If you either have the experience or qualification in the field of organic chemistry, especially hydrocarbon solvents, you can likely find work as an extraction expert. There are a plethora of cannabis companies that are on the outlook for techs who can handle the extraction process for them.
6. Invest in stocks:
The times when the cannabis trade was considered to be an under the table deal are long gone. With the recent legalization, the manufacturers and traders are functioning out in the open. Moreover, you can find many American or Canadian cannabis-related companies who have their stocks listed on major stock exchanges of the country.
For those who have a knack for investments and stocks, now is the time for you to flourish. With major US cannabis companies looking for venture capital, and over 50 cannabis-related stocks to invest in, the options to invest are endless. And well, so are the chances of upside.
The global legal cannabis industry is exploding and has the prospect of reaching $146.4 billion by the end of 2025. While cannabis seeds are becoming a popular choice, it’s still buds that dominate the revenues. Whether you wish to start a retail store or your own farm, get a job in a cannabis firm or invest in the stocks, do it now while the market is on the rise.
Brian worked as CPA in various areas of accounting and auditing. He had administrative assignments with an engineering company, and has spent time abroad to help oversee the construction of a Liquefied Natural Gas refinery. At Scrubbed, Brian handles manufacturing, distribution, and other professional services clients, passionate about delivering results for his clients.