The State of the Cannabis Market Today and The Businesses You Can Build

The State of the Cannabis Market Today And The Businesses You Can Build

The cannabis industry is a booming yet controversial business you can heed. Today, a lot of countries are continuously battling for the legalization of marijuana for medical use. According to www.healthline.com, marijuana contains cannabidiol (CBD), which are substances that can help cure the effects of chemotherapy and severe epilepsy.

While a lot of countries are still proposing the sale of medical marijuana, the United States has been legalizing many cannabis businesses both for recreational and medical use. Today, 29 American states, including the District of Columbia, were warranted to sell marijuana. Although these states distribute cannabis for medical purposes, it is slowly changing to include recreational use.

According to Forbes, North America has grown at least 30% in cannabis sales since 2016. By 2021, they projected that the sales could reach up to $20.2 billion. When you look into these numbers, there is no doubt that starting a cannabis business in some legalized U.S. states is a good venture to take. Bound by the governing laws per U.S. state in selling marijuana, here are some cannabis business ideas you can start right away.

Marijuana Production

In most cases, Marijuana production is processed by large companies after getting the right license. However, for states where cannabis is already legal, you won’t need a large production. You can start by developing a marijuana farm. Moreover, it’s easy to buy seeds in the market for immediate use, such as the ones you can find in GreenBudGuru.com.

When plowing a field that you can use to produce Marijuana plants, you should know the type of soil and the weather condition it needs to have in order to grow. Make sure that you research thoroughly and get educated on how to grow these plants.

Marijuana Delivery

If you are knowledgeable enough about how marijuana can be transported while retaining the needed temperature, you can start a delivery business. Besides that, you also have to ensure that these plants’ quality is not compromised when it reaches consumers.

You can begin a marijuana delivery business by contacting dispensaries or local farms. Make a contract with them and reassure them that you can handle the delivery process without destroying the product.

Selling Edible And Non-Edible Marijuana

Another form of Marijuana business you can start is selling both edible and non-edible products. For the edible ones, you can start reselling marijuana pastries or teas. If you want to be more creative, bake cakes or cookies using these plants as your main ingredient. It is also a fun way of staying creative, this time, with the help of cannabis.

On the other hand, not all consumers enjoy edibles. Others like to purchase this plant in the form of massage oils, beauty products, and even topical creams. Moreover, cannabis can be used to start your own label of lotions and soaps. It’s a great way to utilize this plant’s medicinal properties.

Cannabis Processing

If you want to start a marijuana business yet don’t want to experience the hassle of cultivating these plants, you can opt for cannabis processing instead. It is a business venture where you buy cannabis plants and extract their useful parts for consumption.

Trichome, for example, is an essential part of cannabis that generates high demand in the market. If you know how to prepare marijuana for smoking purposes, this venture is perfect for you. Just make sure that you get a proper license first when starting cannabis processing since some states require this.

Marijuana Accessory Store

Although this does not use cannabis as the main ingredient, it is also a profitable venture you can start with. You can sell accessories intended for marijuana use, such as bongs and pipes. Besides that, you can make personalized dog collars or t-shirts with marijuana message prints to send a message about the use of this plant.

If you don’t have enough skills to produce these products, you can visit shops and buy their products for reselling. Make sure to look for inexpensive yet high-quality items to earn good profit.

Cannabis Consultant

A cannabis consultant is more like a job than a business venture, but it helps you generate high income in the cannabis industry nonetheless. There are large companies that produce and sell marijuana, but don’t know too much about these plants.

This way, you can start a consulting company, be a consultant, and educate these companies on the proper way to handle cannabis. Also, you can guide them on the best course of action regarding the ever-growing cannabis market.

Takeaway

The cannabis industry is booming, especially with almost 75% percent of American states legalizing this type of business. This is the best time to start and earn efficiently by venturing into businesses about cannabis. Once you get the right license and know the state’s law regarding this business venture, you can do any cannabis-related businesses listed above.

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