Success in the world of marijuana is now more accessible to more people, especially for those who are truly passionate about the plant. Part of this can be attributed to the growing demand for legal marijuana. Market studies even predict that spending on the marijuana industry will continue to grow. It is foreseen to reach a whopping $31.3 billion by 2022. Because of this, more and more individuals are planning to jump into the fast-growing market.

Feasible Marijuana-Related Opportunities

If you are looking for ways to make it big in the industry, then you should definitely check out these feasible opportunities.

• Apply for Jobs in the Industry

One of the best ways to enter the community is by working in a cannabis-focused business. Because of the still increasing demand for this plant, more and more entrepreneurs are striving to supply the public’s request. In fact, this sector has been one of the greatest job generators in the country. Just last year, the marijuana community added over 64,000 cannabis jobs which shows a whopping 44% increase.

With such optimistic numbers, it is definitely worthwhile to consider working in the industry. There are a variety of opportunities when it comes to the cannabis industry. You can work as a budtender who works directly with dispensary clients, much like what a bartender is to bar customers. Working as a grower, trimmer or harvester at a cultivation site is also a viable option for those with a green thumb.

Other opportunities you should consider also include cooking cannabis-infused dishes, packaging products and delivering clients’ orders.

• Provide Ancillary Services for the Industry

Aside from jobs directly dealing with the plant, professionals from other sectors are welcome and needed in the cannabis industry. Businesses are in need of warm bodies not only in production sites and dispensaries but also in the back offices. How do you think businesses are able to manage their finances without accountants? You can also work as a graphic artist, cannabis writer, developer and marketing specialist for cannabis-related clients.

If working as an employee or as an individual service provider does not sound that much appealing to you, then you should definitely consider launching an ancillary cannabis company. These are businesses that specifically cater to marijuana-focused companies. The scope of these businesses is wide, giving you a whole lot of ideas to choose from.

When deciding what your prospective business should specialize in, it is important to consider your expertise. Are you currently a legal practitioner? Perhaps you want to focus on marijuana laws and build a firm that specializes in this area. Do you currently run a security company? You might want to cater to the security needs of cannabis dispensaries.

There is a lot you can do when you choose to launch an ancillary business. The only challenge is whether you pick the right option at the right time.

• Establish Your Own Cannabis Business

So, you may be interested in working directly with the plant, but you do not want to run an ancillary business. The most obvious choice is building your own marijuana-focused business. This lets you truly become a cannabis entrepreneur which is a great thing, especially if you plan to fully immerse yourself into this industry.

Those who have a background in culinary arts might want to try their hand in running cannabis edibles production business. You can experiment in various food containing cannabinoids CBD, THC and even actually buds. Your choices can range from chocolates, baked goods, candies, and even full-blown meal courses. If you have the means, skills and knowledge, you can even dive into the production of marijuana products such as CBD oil, vape pens and capsules.

If production is not your thing, then you might want to look into distribution options. You can establish a brick-and-mortar dispensary which will allow you to sell products to clients. If you want to take it one step further, why not launch an online dispensary complete with shipping services? This way, you are providing a worthwhile service to medical marijuana patients and enthusiasts alike.

Other great business ideas include cafes and restaurants.

• Set Up a Cultivation Site

Hardcore plant lovers can definitely make it big in the industry by growing their own plants. If you are one of these people, then you should be ready to dedicate a space for your farm. You should also be prepared to capitalize on various things including seeds, pots, equipment, and utility.

Keep in mind that you can optimally grow these plants under specific conditions. This includes adequate lighting, watering, ventilation and spacing. Expert growers will tell you that vigilant monitoring is one of the best ways to track the growth of your plant. You want to make sure that they are at the right temperature and humidity, as these can affect the growth of the buds as well.

To ensure that this venture goes successfully, you might want to take classes or do enough research on growing the plant.

• Invest in High-Yield Marijuana Stocks

Those who are into market trading might want to invest in cannabis stocks. Because of the demand growth experienced by the sector, more and more investors are taking an interest in such businesses. Likewise, more companies are becoming successful in the trading area.

As such, you need to watch out for the best marijuana stocks in the market. According to various companies will begin offering initial public offerings (IPOs). Purchasing shares from these entities gives you the opportunity not only to own part of the company but also to earn from them. You can earn through dividend payments or by trading your share.

Keep in mind that timing and luck play a huge role in market trading. This is because while stocks are high-yield investments, they are also highly volatile. This means that their values can fluctuate frequently and that a high-value share can become low-value in just a short while. So, make sure to keep your eyes on your investment and you will do great in cannabis stocks trading.

Events that Help You Explore Marijuana Opportunities

If you are intent on joining the sector, there are a few things you can do to find the best opportunities. Check them out below.

• Cannabis Expos and Festivals

One of the best ways to learn more about the industry and the numerous opportunities it brings is to attend events such as the California Cannabis Business Expo, Canna Grow Expo and Hemp Fest Canada. These events bring together many entrepreneurs and businesses in order to show off what they have to offer.

• Competitions

Those who have been growing some plants for their personal consumption might want to join competitions to see how their breeds will fare. One of the most prominent contests is the High Times’ Cannabis Cup in South and North California, Denver, Michigan, Seattle, Amsterdam, Detroit and the Bay Area. In fact, there is an upcoming Cannabis Cup in Oregon.

These events give you the chance to show off your growing and breeding skills. Who knows, you might even win, which can be a free marketing opportunity for your buds!

• Summits

If you have been working professionally in the sector, you can join various summits. These conferences serve as a venue to discuss social, cultural, political and legislative impacts of the plant. The North American Cannabis Summit, New West Summit and Canadian Cannabis Summit are just some of the conferences you can participate in.

Tips for Launching Your Own Marijuana-Focused Business

Before you dive in and start your career or venture in marijuana, here are some tips you should definitely look into:

• Take the Time to Learn About the Plant – Just like any business, you need to do your research about your prospective product. The plant has a long history with humanity and learning about its historical, cultural, social, political and economic importance is the responsible thing to do. You also need to learn about the science of marijuana, including its variety and medicinal effects. This way, you are getting into a business that you truly understand.
• Make Sure to Take All Legal Steps – If you are getting into a business, it is important to do it right. You do not want to encounter legal issues in the future, or worse, worry about the legality of your business the entire time. So, see to it that you get the right licenses required to get your company up and running.
• Look into Cryptocurrencies and Blockchain Tech – Remember that marijuana, whether medical or recreational, is still not legal on the federal level. This is why many banks are wary of doing business involving marijuana and related companies. Some owners keep their earnings in the form of cryptocurrencies. Moreover, some also use digital cash for transactions, making it easier for sellers and buyers to do business.

Your cannabis career can be the greatest it can be if you choose the right path. So, whether you are planning to work in the industry or join it as a business owner, taking the right steps is always the best way. From learning about the plant to joining contests, there is a lot you can do to jumpstart your marijuana career and eventually make it big in the industry.