Looking To Start A Marijuana-Related Business? Here Are Your Options!
By: Paul Morgan | Cannabis Owl
The sector of marijuana industry is growing very fast through past years. Experts agree that it will continue growing in this year, too. Since it has been legalized in 28 states, it had become a very profitable job.
Different countries have different laws, guidelines, and limits when it comes to the cannabis industry. Since the number of people involved in this industry is only going to get bigger, it is fair to expect that the guidelines will also become stricter and fleshed out.
Here is some important information for the people interested in starting a cannabis-related business.
1. The license
Whether you are growing the cannabis for recreational or medical reasons, you must own a license for it. In some states, it is mandatory, while in others it is not. For example, in Washington, medical patients are allowed to grow marijuana without the license, but they still have some restrictions: they need a doctor’s recommendation and they may grow up to 15 plants which produce 24 ounces of marijuana.
On the other hand, if you grow cannabis in Canada, you will have to be licensed through Health Canada, because only licensed producers are allowed to grow and sell dried marijuana.
2. Initial costs
Costs also depend on the state that you are in but are mostly not high. Annual fees are around $5K, and criminal background check is also needed. Including initial investments that you would have to make to start any business, the final number is not that insane and it should pay off with time.
This may be the key to the marijuana business, since you also may be limited in various ways. Your dispensary will be the place where the true innovation starts; you will experiment and see what works the best. There are some limits, though; location and production license are highly important.
In some states like Connecticut, the only licensed pharmacist can start their own dispensary. Although it is not the same in all of the countries, one of the good practices is to enlist pharmacist to help an individual developing rules, practices and standards within their dispensary.
Another limit is the location of the dispensary. For example, in Arizona, patients can only cultivate if they lived 25 miles or more from a dispensary and in Massachusetts, patients can cultivate if they live more than 25 miles from a dispensary. Finding a fitting location is a challenge, but with some diligence can be done.
Educate yourself about all of the conditions needed for this plant. Although it is not a complex process, you must find out at least basics of growing marijuana. There are some important things to know:
- Growing space. It is one of the crucial things for every plant to grow. Choose the space where you can provide the things the plant needs. As for the marijuana, it needs a lot of sunlight, up to 8 hours a day if possible and also a fresh air with little air movement if possible. Choose the room or the terrace where you can provide these basic conditions, so you will know that it will grow normally.
- The seeds. It is very important where you will get your seeds. You don’t want to ruin your business in the start, so look for authorized seed supplier and choose the sort of cannabis which you want to grow. There are few: medical, regular, feminized seeds, etc.
- Give it a time to grow, so it can be stronger and provide you better results. Don’t rush and try to wait – it will grow and pay off, just be patient with it.
5. Delivery and difficulties
Many agree that this will be a business which will bring much money, but there are many difficulties in it, too. For now, there are many concerns how the price of marijuana will be set. It can depend on a variety of things such as a number of regional dispensaries, prices in black markets, etc.
Delivering is one of the problems, too. Cannabis can’t simply be shipped after bought. In New York, for example, only certified caretaker or a patient can transport medical marijuana. There are predictions that in future a courier industry devoted to cannabis may develop. As the market grows, the problems will have to be solved, too.
For example, in California, one can already find legal medical cannabis delivery service. How will this particular service evolve and will it become something worth investing in, remains to be seen.
Every job requires effort and enthusiasm – this is not an exception. With the rate this industry is growing, there will surely be enough room for many new players to join the market. Opening a dispensary, starting a delivery service or simply growing marijuana are probably some of your best options. Scientists even say that it might have a calming effect on people who grow it. So, enjoy starting your new job and involving in the marijuana industry and at the same time your new relaxing leisure – it will surely be an interesting journey!
Paul Morgan has more than 5 years of experience working in the marijuana industry. He is a marijuana enthusiast that loves to read and write on anything that is remotely related to cannabis. At the moment, he is working as a content manager at CannabisOwl.