While I would love to say that the reason cannabis has gained such popularity is because society realized the error of their ways, they understood that prohibition is a severe infringement on the personal liberties of its citizens, that it’s ineffective, corrosive to public safety and a slew of other things; the truth is much simpler than that!
Like it or not, but the primary motivation for society to get on board with cannabis legalization is the fact that cannabis is a VERY lucrative industry worth billions annually.
If it wasn’t for the almighty dollar pulling at the pockets of politicians – prohibition would still be running unchallenged as opposed to it standing on its hind-legs ready to be shot the like the rabid dog it is.
With cannabis also providing the fastest job growth than any other sector, and with more countries jumping on the bandwagon – we’re going to be seeing an explosion of cannabis related commerce increase over the next ten years.
For anyone who is looking to make some money, the cannabis industry seems like a good place to start. The problem is…what do you do?
Do you grow weed and sell it? Do you invest in a dispensary? Edibles?
And this is just the tip of the iceberg. The Cannabis Job Market and Industry as a whole has evolved significantly over the past two decades.
Today we’ll be taking a closer look at different ways you can make money in the cannabis industry in 2021.
There are several companies that have affiliate sales programs available. Essentially, you plug their product and make commission on every sale. It’s that simple, and you can “technically” do it from everywhere in the world – even in place where cannabis isn’t legal yet.
For example, using a Youtube video to plug a particular product from a legitimate cannabis supplier. If the person is in the same region as the supplier – makes a purchase from your link…you get paid your sales fee.
You’re technically promoting the opportunity of a sale – and get paid for it. This applies to thousands of other products in the industry including CBD products.
Build a Tribe
One of the best ways to make money in 2021 is by building an efficient tribe. This could be creating an email list, a telegram or whatsapp group, hell – even a good Facebook Group can be used as leverage these days to sell people’s products.
There are many brands that want to find ways to promote their products and because platforms like Facebook don’t officially allow them to use official advertising channels – these brands find people with a large following to get eyeballs on their products or services.
It takes some time and for a while, you might not get paid – but when you have a big enough tribe behind you, you can always leverage that for the right price.
Cannabis Content Creator
If you’re building a tribe, you’ll be creating content. However, content creators might not necessarily be “tribe builders” either. For example, some people make their money by creating the content for the “influencers” people follow.
Every successful cannabis brand has content creators – these include bloggers, social media managers, video editors, perhaps even a spokesperson.
Find a niche you can excel at and begin working on a “body of work”. Over time, you’ll begin to make noise within the community – as long as you are consistent in creating and sharing your work, the people will follow…and where the people go – so do the brands!
Retailer – Grow Gear/Paraphernalia/Seeds
There are many related industries that you can tap into. The cannabis growing market is huge and if you can become a supplier of a major grow facility or provide the gear for home growers – you’ll be able to rake in the big bucks!
These industries are quite competitive, but if you have exceptional customer service and provide competitive pricing – you’ll be able to etch out a space for yourself.
Similarly – selling pipes, bongs and cannabis accessories almost always make money. If people are smoking weed, they are going to need their gear.
Investing into a headshop can be surprisingly cheap if you have a good place. You can start small and scale your way up. I know this dude who started off in a small bazar with $1000 invested and now sits on four large headshops.
If you’ve got the grit and the vision – you can get it done!
Make some Software (or hardware)
Websites, Apps, anything digital! The cannabis industry is fully integrated into the internet of things and if you know how to code – you can begin focusing in on common problems the industry face and try to find a software or even hardware solution.
I’ve written about a couple of apps over the past few months that have been attempting to do just this – solve an industry problem with a software solution.
Additionally – if you have the mind of an engineer, you could develop some sort of tech to solve a common pain point within the industry.
People have been trying to perfect the robotrimmer for a while now – that would significantly reduce the cost of production (and put many trimmers out of business).
Grow and Sell Weed
We can’t make a list without the obvious way to make money. The good thing is that anyone can do it – the bad thing is that not anyone can do it legally.
If you do live in a legal state – you’d have to raise the investment capital, get the permits and invest a lot of moolah!
Illegally – it’s far cheaper the initial investment – except the risks are infinitely higher.
You make the call.
As more regulations are passed – more testing will be needed. Why not let that lab be yours? If you know a thing or two about chemistry and how to properly set up a lab – then you can put all that schooling to use and help the cannabis industry test their shit.
Lawmakers demand it – so ideally you’d want to be a “government approved” facility to essentially have a clientele that are forced to use your services.
Real Estate & Finance
Just like any other industry, the cannabis industry requires space and means of moving their revenue. Depending on your expertise – you could be finding investors, finding prime real estate, etc.
These days you can even trade in cannabis stock!
Lawyer/Accountant/Other Office-type jobs
Anything you can do in a legitimate business also goes for the cannabis industry. If you’ve been having a tough time finding a job in the regular job market – see how you can amend your C.V to be more “cannabis-friendly”.
The Sticky Bottom Line
There are numerous ways to make money from cannabis these days – whether from selling the products directly or simply creating enough hype so that brands pay you for your tribe!