With cannabis completely legal in eight states and medical marijuana legal in 28, there has nervier been a better time to be investing in the marijuana industry. Marijuana business development is at a record high, and there are certainly ways to get yourself into the game in a smart and legal manner.
Here are four ways you should be, and could be, investing in the marijuana industry:
- As with any industry, it’s good to get your feet wet with an entry-level job. Try to score a budtender position at your area dispensary. This way, you can gain valuable information regarding the laws surrounding legal cannabis as well as understand the types of strains and their effects. If you spend time at your local dispensary already, don’t be afraid to inquire about potential job openings at that dispensary or others in the area.
- Instead of applying for a job, why not try to create your own? Consider becoming an entrepreneur in the marijuana industry. What type of market has et to be tapped in your area? Is there a need for a marijuana consulting company? Perhaps a bakery that sells edibles? There are a number of cannabis business ideas that have yet to be realized. With the right amount of inspiration, you can create your own business to turn to profit.
- If you have a financial background, you may be of great use to a marijuana company. Every business needs a financial advisor or broker. Since marijuana isn’t legal in all states and the industry is still so new, major corporations will not touch these books. In order for these companies to succeed, they need experienced financial consultants that are willing to take a risk, privately, in order to help out.
- Another thing that all startup businesses need is an investor, and one of the most direct ways to invest in the cannabis industry is to front money. While the industry is still in its infancy, many companies have trouble building up capital for a brick and mortar location, cultivation supplies, paraphernalia, and other related equipment. While the payoff may not be immediate, there is potential for a great return on investment in the future. There are conventions that connect entrepreneurs and investors, so if you’re willing to put money down, consider checking out one of those events.
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