The demand for cannabis is explosive, and the weed industry is expected to be worth $102 billion by 2028. More and more states are legalizing weed for both medicinal and recreational use. This is the best time for you to capitalize on this market.
If you have an innovative idea for a new type of THC business, you can head to any market and make a killing. If you don’t have any groundbreaking ideas, we’re here to help. Here are five weed business ideas in high demand (especially in new markets).
Many dispensaries are cash-only. After a few hours of business, they may be holding thousands of dollars in bills. This can make them an easy target for thieves if the facility isn’t properly secured.
That’s where you come in. You don’t necessarily have to be the person standing at the door with the .45 on their hip, but you can own the company that outsources the security personnel to different dispensaries.
2) Weed Subscription Service
Subscription services are all the rage today in the world of fashion. This is a new trend that is sure to make waves in the world of cannabis as well. Think about it: an ounce shows up to your door every week without you having to do anything? Sign me up!
You could have a subscription service that allows customers to pay a flat monthly fee to get a certain amount of weed every time they come to you, or you could even deliver it right to them.
3) Weed Podcast
Where would the world be without podcasts? Probably much better off, actually — until your weed podcast drops!
All jokes aside, podcasts are valuable media sources that people use to learn about new information in an entertaining way. Your podcast can cover various topics, such as:
- Marijuana legislation
- New cannabis products
- Growing methods
- Information about the latest and best strains
- Consumption techniques
- Things to do while enjoying THC
- Interviews with cannabis influencers
The list could go on and on. As your podcast grows, you can start getting sponsorships from cannabis brands and start making real cash.
4) Sell Topicals and Weed-Infused Personal Care Items
This is becoming a vast market as more and more THC users emerge who don’t enjoy smoking or eating cannabis products. You can start a business selling lotions, oils, and bath bombs that contain THC.
Skincare is on the rise for both men and women today. Not only will your products help people reach their skincare goals, but it can also get them a little baked in the process! Also, having natural, high-quality, and sustainable skincare products makes you stand out from other weed businesses.
5) Staffing Service
Staffing services are great ways for people to find work for the day quickly. Other startup weed businesses may be in need of help on short notice due to turnover rates or simply a lack of qualified employees. You could provide a staffing service that helps other cannabis companies quickly find workers without having to commit to hiring help full-time.
You can connect marijuana brands and qualified individuals to work together for a set time period. Whether it’s cultivation experts, budtenders, or delivery drivers, you can help businesses stay afloat, and workers provide for their families.
How to Start a Weed Business in Nevada
Nevada is an excellent place to start a weed business today. The industry has had years to develop in this area, and there is plenty of room for more cannabis companies to flourish. Here’s a quick outline that you can use to get started:
- Create a business plan that fully fleshes out your idea. It’s essential to have this on hand for when you present your ideas to lenders and investors.
- Become familiar with the laws and regulations that come with having a weed business in Nevada. It’s crucial to abide by these so the law doesn’t come along and shut your company down before it has a chance to flourish.
- Develop a strong brand image for your company. Companies such as HIGHOPES can help you build an online presence that can make you a familiar brand to stoners across the state in very little time.
Don’t sleep on the importance of building a strong image for your weed business. Contact HIGHOPES today to start brainstorming about how to get your company off the ground.