We’re still just on the cusp of the cannabis industry boom, and people are still making their way into the industry for the first time to try to find out how they can make a killing in an industry that is only set to grow more in the coming years. Despite the stigma associated with cannabis use, there is an entire industry of opportunity here that people are coming on board with. But it’s not just big business and people with a lot of money to throw at it: the average Joe has an opportunity to get in on what is still considered the ground floor. If you are thinking about breaking into the cannabis industry, but aren’t sure how you can make an impact or even profit from what’s going on, we’ve put together a list of four ways you can be a part of this boom without breaking the bank.
Buying stocks in the cannabis industry is probably one of the easiest ways to ensure that you get to dip your toe in the profit pool in this exciting industry. Whether you have $100 or $10,000 to spend, you can pick and choose the stocks you want to invest in. While there aren’t as many available as you might think, again, the industry is still growing and more opportunities for investments are popping up every single day. It’s important to do your research about which stocks you invest in, and like any investment, it may take time to see a profit – if at all, because there is no guarantee – but if you play your cards right and let your investments grow over time, it can be very lucrative.
Invest in a Business
If you have a little more money to invest in the cannabis industry, you might consider partnering with another business person to open a business that either sells or supports cannabis and cannabis products. If you don’t want to be directly involved in business ownership, then you always have the option to back another person who is confident in owning and running a business. Not everyone is cut out for business ownership, especially in an industry that is still trying to find its footing during a swift growth period. While there are risks associated with any business, people are looking for ways to cash in on the growing cannabis industry and a business seems like a great way to be a part of the conversation, impact, and reach.
Sell Accessories Online
If you aren’t looking to build a full-blown business, but still want to get a piece of the pie that is being baked around the cannabis industry, starting an online accessories shop might be a good option for you. It requires very little money, time, and energy, and everyone is looking for a way to get in on the action. This is a good option for the average Joe who doesn’t want to walk away from their current job or who wants to test the waters before investing further. There are a lot of drop shipping options for cannabis accessories and you might even be able to partner with a company through an affiliate program. Do your homework before representing any business partnership, but if you like what you see, it could be lucrative.
Write About it
If you don’t want to put money into the industry to get money out of it, you might consider another approach. There is a booming content industry related to cannabis – people need to know what’s going on and be educated about the industry. If you know a thing or two about how it’s all going down and you have your finger on the pulse, are interested in researching change and up-and-coming business options, and like to write, you might be able to make money in an indirect way. What’s more, if you are good at web design or marketing, you might support cannabis businesses and online retailers by helping them create a viable web presence, marketing plans, or advertising options. There are some rules around marketing for cannabis industries, however, which can make it difficult for some businesses to get the word out. If you can find work arounds, or help people create content that doesn’t violate protocols for platforms such as Facebook, for example, you can build an opportunity for yourself.