The cannabis industry has seen remarkable growth in recent years as the stigma surrounding the plant begins to fade around the world. As the misconceptions about its use have been cleared up, many have seen the incredible business opportunities that exist as a result. There is huge potential for making money legally from cannabis and in this article we will take a look at some of the ways you could do that today.
- Grow it yourself
The first is the most obvious. Since cannabis has been legalized, there will be an opportunity to grow the plant yourself and harvest the product to resell to willing buyers. This can be very lucrative if done right, but it does require unique expertise, resources, and of course, patience. This is a long-term game.
There’s something to be said here about economies of scale, too – often from a financial point of view; it makes much more sense to grow in larger quantities, which can be prohibitively expensive for some people. But if you’re deep in the industry and can make this work, it can be a fantastic way to make money.
- Investing in cannabis companies
If you don’t want to get your hands dirty, investing in cannabis industry companies passively is the next option. Some are already publicly traded companies, but many are still privately owned, making these deals difficult to find. This could be growers, manufacturers, brands, suppliers, or a range of other stakeholders who could all benefit from the potential boom that the industry will see in the decades to come.
If you believe in the industry, it’s a great way to leverage your money and hopefully get a good return on your investment as the business grows. You want to make sure you understand the company you are investing in and trust their leadership, strategy, and market positioning. But if all those boxes are checked, this could be a good option for you.
- Invest in individual cannabis plants
There are also opportunities to be more accurate with your investment and invest in individual factories rather than companies. Operators like CDBGrow will grow the plants on your behalf, use your investment as financing, and then pay you the return on those individual plants when they are harvested and resold. This is an interesting model because you can cut out all the middlemen in a traditional business and make a much easier bet on supply and demand for cannabis as an industry.
It also gives you a more direct connection to your investment, promoting greater accountability and involvement in what’s happening. You can use your psychology to improve yourself and your assets. It is a business model that can be very powerful.
These are just three examples of how you can make money legally with cannabis. Whatever your level of expertise or interest in the industry – there is something for you. And by jumping into this industry early on, you reap all the benefits of a first-mover. There’s a lot to get excited about here and a lot more to come. So stay tuned.