According to Whitney Economics and Leafly, the US alone now has 211,000 jobs for fulltime cannabis workers.
One of the ways to do that is to offer services to those involved in the grower and dispensary sectors.
Another way to make money in the cannabis industry for those who have the drive and motivation to innovate is to open a paraphernalia shop or a dispensary if pot is legal in your state. The Ann Arbor Dispensary in Michigan is an excellent example of this method. They have become very successful and are known for their high quality products and service.
You might also want to buy a commercial cannabis operation, such as in the medical cannabis markets. Choose a company with expansion plans and can handle future weed alternatives. But just like in stocks, you should diversify your portfolio.
You can expect stocks to become a long-term investment in the cannabis industry. However, it will be wise to diversify to reduce the risk by not risking everything on one endeavor.
Did you know that these businesses also need support to keep their business running just as any other business does? They also need POS software and cannabis SEO help that can accommodate marijuana-based businesses.
One job available is for a budtender and trimmer, who cleans and beautifies the buds before selling them.
Cannabis sales can reach about $17 billion in the US alone this year, according to BDS Analytics and ArcView Market Research, and that’s thanks to its legalization in more states. Business models are expanding as new opportunities are legalized. For instance, in many places in Europe it is now legal to purchase marijuana seeds on the internet. So if you’re looking to profit from pot, check out the following ways to get started.
In the US and Canada, you can now find different cannabis-related companies are already listed on stock exchanges.
How to Make Money in the Cannabis Industry Cannabis sales can reach about $17 billion in the US alone this year, according to BDS Analytics and ArcView Market Research, and that’s thanks to its
Because Darren was wiling to haul ass around NYC for the tiniest amount of money, people started hitting him up slowly but surely. The fact that he doesn’t smoke made it easier to turn a profit. When he and his partner doubled their money, they went back and asked for two ounces, and managed to haggle for a discount. Two weeks later, word had spread to other dealers in the area.
“They weren’t really happy with the product they were gonna be able to come out with using that kind of money,” Franciosi says. “Basically that whole plan just flopped on its head.”
Franciosi, the grower, says that soon most of the weed on the market will be pharmaceutical grade, and that the people with 200,000 square-foot warehouses will be forced to use pesticides and other nasty chemicals to keep up. He hopes the people who want to deal with that will be motivated to buy his stuff, which he likened to small-batch whiskey. But he also thinks the black market will probably remain an option for the foreseeable future.
To answer that question, I called up Anthony Franciosi, a budding entrepreneur who moved to Colorado from New Jersey when he was 18 to become a marijuana farmer. As he learned to grow, he worked as an irrigation specialist and did restaurant work in the resort town of Steamboat Springs.
“So like I was getting shit like Blue Dream, Cookie Monster, Girl Scout Cookies, Platinum Kush, Blackberry Kush, White Nightmare,” Darren says. “I was like, ‘What the fuck?’ And he was willing to put it on the arm, which means on credit.”
Instead, he found starting a farm of his own difficult. His first opportunity came in the form of a family friend who figured Franciosi was responsible enough to entrust with a $300,000 investment. The idea was to control the product from seed to sale, eventually opening a storefront. But it soon became apparent they didn’t have the funds to build that kind of operation.
He got his start hawking extra buds from his harvest to a local dispensary. “I found that when I would give it to them, it was just disappearing, and they wanted even more of it,” he tells me. “If I had the foresight back then, maybe I would have put some money away and got some licenses.”
When you’re in high school and college, selling weed seems like a dream job on par with race car driver or pirate. The access to drugs ups your social cache, you make your own hours, and you can get high whenever you want. I assume that pretty much everyone between the ages of 15 and 25 has dealt drugs, or seriously considered it, or at least fantasized about the ways they would avoid the cops while raking in that sweet, sweet drug cash. I would sell only to trusted classmates and refuse to talk business over phone or computer except by way of an elaborate code that might fool cops and parents. All in all, a perfect plan.
Obviously, having a backer to the tune of $1.5 million helps. What I learned from talking to Franciosi is that much like the illegal weed industry, the legal one seems to run on Monopoly money. While it’s called “putting it on the arm” in the former, it’s called “venture capital” in the latter.
When I was growing up, drug dealers always seemed to have cushy jobs that were a license to print money. But what are the actual economics behind the legal and illegal sides of the marijuana industry?