Legal marijuana has meant a lot of different things for a lot of different people. For the flower celebrating pot heads amongst us, it means not having to walk into a dingy alleyway and potentially get arrested to acquire a joint. And for those not shy of an investment, it’s potentially the next Bitcoin.
For the last 100 years, there was nothing legal about making money from marijuana. Now, investors are taking the chance to make millions selling something that literally doesn’t require selling; it’s already sold, and people have loved this very prohibited substance for a very long time.
There are hundreds of ways to make money off legal marijuana; from isolating cannabinoids and selling them as raw materials, to growing hemp for the purpose of CBD product manufacture, all the way down to manufacturing grow equipment for cultivators. The avenues through which investors, and even regular people, can search for a profit is virtually infinite.
For the Green Thumb: Grow Cannabis
An obvious way to make money off legal marijuana is to grow cannabis. There is an overwhelming demand for cannabis at the moment, even if it isn’t going to be smoked. It is often used to manufacture other cannabis-derived products such as CBD oils, isolate or edibles. Plus, this is arguably the most laborious part of cannabis product manufacture: growing it.
With that said, a grow operation needs space, time and a lot of skill, not to mention customers. And there are a lot of those, like the mountains of cannabis growers in the Emerald Triangle. Aside from huge competition, there’s money to be made in being a cannabis or hemp farmer.
For the Chemist: Extract Cannabinoids
We might be well and truly past the days of money-making cannabis farms. The future of cannabis is looking more and more like a scientific experiment with cannabinoid extraction (but of course, we still need farms for that). Isolated cannabinoids are becoming increasingly popular in the USA, and are beginning to intersect with pharmaceuticals (take GW Pharmaceutica’s Sativex, for example).
Yes – there are pharmaceutical companies that want to buy pure, isolated cannabinoids for the purpose of manufacturing pharmaceutical-grade medicines. A lot of technology is required for cannabinoid extraction and a super nifty, chemical mind. Development in cannabinoid extraction is growing in popularity and demand.
For the People Person: Be a Budtender
Seeing a cannabis dispensary while walking through the streets of San Francisco is just as likely as seeing a Walmart. They are, well, everywhere. And they all need well-educated, friendly retail staff. Some of us could only have dreamed of having a part-time job in a cannabis dispensary as little as a decade ago. Now, it’s a real opportunity for those who want to work in the front-of-house aspect of the cannabis industry.
A love of cannabis and a friendly attitude is all that’s really required to be a budtender. However, given the increase in the number of people who want the job, it’s not always that easy to acquire one.
For the Artist: Design, Design, Design
The projected market value of CBD and other cannabis products is steadily climbing. Every year, there’s a new and bigger estimate on how much the cannabis industry will be worth. There are new companies and product manufacturers popping up everywhere. And yes – their websites, products, and labels need design elements too.
Website designers can make a ton of money from big investors starting cannabis businesses. This is good for writers, graphical artists and those who know something about website building.
For the Money Bags: Invest!
Then there are those who don’t necessarily want to do much at all but have some money to make someone else’s cannabis business come true. The thing with investing in the cannabis industry is there are almost endless avenues through which one can step in. Think about it. An investor can pump money into any of the following aspects of the cannabis industry:
- Cannabis retail businesses
- Cannabis wholesale businesses
- Cannabis farms
- Manufacture of cannabis-related grow equipment
- CBD or THC product manufacture
- Pharmaceutical-grade cannabinoid extraction
- Extraction equipment and technology
- Research and development
These are literally just a handful of the different places an investor can invest some money into the cannabis industry. While some of them are peripheral aspects of the cannabis industry, they are nonetheless in high demand.
There are numerous ways for just about anybody to make money off legal marijuana. There even exist professional, influential, Instagram-famous joint rollers who roll specialty joints for a large sum of money. The sky really is the limit in an industry as big and new as cannabis, and there’s even some room for creativity and innovation!