4 Ways To Make Money In The Cannabis Industry Without Selling Weed
How to Make Money in Cannabis Without Actually Selling Marijuana from CannabisNet on Vimeo.
Are you struggling to make ends meet? Are you still paying off that student loan? Are you bankrupt from a failed investment? You’re not alone. Research shows that 8 in 10 Americans are in debt.
Living paycheck to paycheck never has its benefits, but you need to know that there is a way out of this. The cannabis industry is not only benefiting those who are sick, but if you need to make money or are trying to find a way out of debt, this could also be the solution for you.
According to ArcView Market Research, an expert source on cannabis investment and research, the retail sales of cannabis could reach as much as $20.6 billion in revenue by 2020. There’s a lot of the pot pie to go around for everyone.
Here are several ways you can get rich with the legal cannabis industry:
- Get a job: If you have a valuable skill set, you can easily get a job in the legal cannabis industry. There are job openings for those adept in sales, marketing, writing, technology, accounting, F&B, tourism, hotels, or any other role that cannabis businesses might need. Pretty much any kind of service that is used in other businesses can also be applied to the cannabis industry. There is also a high demand for ancillary positions. While many high-level positions are open for working directly with the plant, there are also several entry-level positions such as trimmers, budtenders, manufacturers, and growers. Check out the Cannabis.net job board for a list of great jobs in the industry. It also helps to attend cannabis events to network with people in the industry, which is particularly useful if you want to get one foot in the door.
- Invest: If you have a little money saved away (and an appetite for risk), which you can do without for the next few years, the smartest thing you can do is invest it in cannabis stocks. Make sure that this is money that you are ready to part with, since there is a risk involved especially considering that the federal government is still unstable in terms of its outlook on the legal cannabis market. Always make sure that you do your research first before investing and consult with a lawyer if you can. There are many people who are keen to invest in the cannabis industry with the hopes of striking green although be wary of the scam artists. Familiarize yourself with the EDGAR report of each company before investing so that you know about their investor history, financial history, and more to avoid getting scammed.
- Entrepreneurship: Another solution for those of you who have some resources staved away is entrepreneurship. Starting a cannabis-friendly business such as developing a line of hemp products, oils, or edibles, especially if it’s a niche product, can help you get rich. As a cannapreneur, you don’t need to apply for a job but instead you can also help create some especially for those who are in the same position as you. This is ideal if you have a passion for cannabis; have a vision and are willing to put in the time, effort, and resources together to develop an idea and earn a profit from it later on.
- Affiliate marketing: If you already have a blog or website focused on cannabis, you can make money as an affiliate marketer even if you don’t live in a state where the plant is legal. As an affiliate marketer, your job is to promote someone else’s cannabis business or product in exchange for incentives, usually in the form of a commission although other businesses offer discounts or other forms of pay outs. Many cannabis companies have affiliate marketing programs in place; all you need to do is apply .
The legal cannabis industry is only starting to grow exponentially. There will continue to be numerous opportunities if you want to grow with it. There’s no better time than now to participate in the Green Rush, especially if you want to make your way out of broke-land! The best part is that you don’t need to be limited to living in the Colorado or California area if you want to make money from cannabis – many of these jobs allow you to work from anywhere, except if you are considering a role that requires you to touch the plant.
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