The cannabis industry can be likened to the “Gold rush”, but in this case it is the “Green rush.”
So, how can you get in on this Green Rush? The possibilities are only limited by your creativity. In order to stimulate your imagination, here are 24 ways that people are making money in the cannabis industry right now.
2019 Is The Year to Cash In On Cannabis!
- Advertise Affiliate Programs — This is probably the simplest way to generate income in the cannabis industry. Find companies that offer commissions for sending traffic to their site, then find or create advertising channels to send them traffic. Once you set up a successful, recurring, online ad campaign, it can earn you money in your sleep.
- Create a Brand — How about creating a brand of your own? Many companies that produce CBD products offer white label services, which means they’ll put your logo on their products. A successful brand can make you rich, but it takes time and skill.
- Create Cannabis-Related Content — Cannabis is very popular and growing quickly. You could try your hand at creating some kind of content that you can sell, such as a “how to” book, educational videos, etc.
- Start a Media Outlet — Cannabis companies need places to advertise in order to reach their potential customers. How about starting a website, podcast or a video channel on YouTube? This is a full-time job if you do it right.
- Independent Sales Rep/Broker — With so many cannabis shops opening up, there are tons of opportunities in sales and wholesale brokering. Find a company with good products and get out there and rep them. The commissions on wholesale goods and supplies can be quite lucrative.
- Sell Growing Gear/Supplies — Along with the explosion of home growers in the U.S. is also an explosion in sales of growing equipment and supplies. You could open a brick-and-mortar shop or just sell online.
- Cannabis Reporter — Almost all news outlets are now reporting on the cannabis industry, medical marijuana, cannabis lifestyles and so on. Become an expert in one of these areas and you’ll probably get plenty of work as a freelance reporter.
- Cannabis Blogger — Many cannabis product companies need bloggers to create content for their blogs in order to attract potential customers. Blog writing can be much more creative than reporting.
- Open a Headshop — It’s much easier to open a shop that sells gear and clothing to cannabis consumers than it is to open a shop that sells cannabis, and it can be just as lucrative if you excel at operating a retail chain.
- Develop Business Software — Good cannabis-focused business software is hard to find. If you’re a programming genius with intimate knowledge of the industry, you might find the cannabiz a great niche for your services.
- Develop an App — Develop a great cannabis-related app and you might find millions of cannabis consumers downloading it. Apps make money either by selling the app itself, selling something within the app or selling advertising on the app.
- Open a Cannabis Lab — All states require some level of lab testing to assure that cannabis products are free of pesticides, molds and other toxins. Cannabis labs will be very busy for a long time to come.
- Open an Extraction Facility — Got a knack for chemistry? How about setting up a cannabis oil extraction facility. Many growers only want to focus on growing and thus farm out extraction to folks like you. This may require an extensive investment in machinery.
- Promote Cannabis Events — Many cannabis consumers are looking for fun and exciting events to attend to share their love for cannabis. You could start small with a social gathering or you could go big and promote a major concert event.
- Create a Mail Order Company — These days it’s a breeze to open an online store. There are all kinds of things that you could sell online, from pipes and vape pens to clothing to posters. Many makers of these products will also drop ship to your customers, saving you the hassle of running a warehouse and shipping facility.
- Cannabis Graphics Designer — If you’ve got a knack for graphic design, you’ll find thousands of companies that need your services. Make yourself a portfolio of cannabis logos, ads, posters, etc. and get out there and mingle.
- Cannabis Photographer/Videographer — Just about all businesses these days need good photography and video services or stock photos and video clips. Get out there and shoot some grow operations, events, products, whatever you have a knack for and build yourself a portfolio and you’ll likely find plenty of work.
- Financial Services — Accountants, bookkeepers, insurance sales and other professional services are in high demand in this cannabis industry.
- Real Estate Services — Many states have restrictive laws when it comes to where a cannabis business can be located. You could become an expert in this area in a state that’s booming and help entrepreneurs locate their operations.
- Cannabis Lawyer — If you’re a lawyer or thinking of becoming a lawyer, the cannabis business is a great place to focus your practice. Experts in cannabis law will be very, very busy for a long, long time.
- Cannabis Business Consultant — If you’re a business consultant, you’ll find that your services will be in high demand if you learn all about the cannabis industry. The number of entrepreneurs who would like to start cannabis companies is exploding.
- Regulatory Consultant — Starting a cannabis business can put you into treacherous waters. Cannabis entrepreneurs need consultants who are experts regarding the regulations in each state.
- Invest In Cannabis Stocks — Maybe you’re busy with a full-time job but you’d like to find a way to cash in on this high-growth industry. How about investing some of your earnings in cannabis stocks? Although stocks are falling now, they are expected to rise substantially in the coming years.
- Trade Cannabis Stocks — Day trading and swing trading are a lot more complicated than simply investing long-term. You really need to be educated in stock trading if you don’t want to lose your shirt.
These are just some of the many ways that people are cashing in on this opportunity of a lifetime. Hopefully these ideas stimulate your creative juices and get you excited to get out there and make a name for yourself in the cannabis industry.