Things to Consider When Starting a Marijuana Business

nugs on stacks of money

If ever there was a time for getting into the cannabis industry, now would definitely be it. The only problem? Everyone who likes weed (and probably their grandmothers too) has an idea for a cannabis business empire. And it makes sense! With legalization sweeping the nation and public interest in weed only growing it's almost impossible to fail at starting a marijuana business – if you do it right, that is. But starting a marijuana business the right way isn't always easy. That's why Leafbuyer has these tips and tricks for successfully starting a cannabis company. So go and sign up for those business classes and get your idea out there because now is the time for your marijuana business to shine

Choose Your Marijuana Business Field

tending to young plant

They say if you do what you love you'll never work a day in your life so keep that in mind when deciding what marijuana business you want to start. You may love weed, but if you don't enjoy chemistry then perhaps opening a cannabis lab for quality-assurance testing isn't the best idea for you. Before you get started on your marijuana business it's probably good to know which part of the cannabis industry you're looking to get into. Do you want to sell weed, grow weed, or even study the herb in question? With so many options, the only hard part is deciding which field is best for your marijuana business venture. To help, we've broken the industry down into five comprehensive categories:

Growing Weed

greenhouse for plants

For anyone who really appreciates nature, botany, or just having tons and tons of freshly grown weed, growing cannabis might be the field for you. Starting your own marijuana business for growing weed is a great way to take advantage of your green thumb. Learn all about strains, seeds, and starts before moving on to lighting, nutrients, and everything else essential to perfectly grown pot. You'll need to stay extra-vigilant for common issues such as mold, pests, and other possibly dangerous growing disasters. Keep some natural, legal pesticides available to nip these problems in the bud! Demand for well-grown cannabis is high right now though so starting a marijuana business for growing is a pretty safe bet.

Information and Research on Cannabis

doing research

An important and under-appreciated sector of the cannabis industry is research and information distribution. Since weed has only recently been decriminalized (much less legalized) it's still hard to get good, factual information about cannabis. The world is thirsty to know more about everyone's favorite herb and that's where truth-seeking entrepreneurs can make their mark. You can create a marijuana business for testing cannabis products, for researching the effects, or just making information on weed available to all. Whether you're a journalist or a scientist, the field of truthful cannabis facts and info is wide open for your business ideas.

Lifestyle (with Weed)

coffee and ash tray at coffee shop

If you love the effects of weed but don't want your marijuana business bogged down with a ton of research or manual labor, then a lifestyle career might be just what you're looking for. You don't need to understand the chemical composition of cannabis to own one of Amsterdam's legendary coffee shops, after all! And as laws regulating cannabis become less and less restrictive, you'll see more lifestyle cannabis businesses popping up. From high yoga sessions to five-star edible dining experiences, the possibilities for starting a marijuana business in the lifestyle sector are basically endless. Start a dog walking company for stoners or a juicing station with CBD wheatgrass shots. Any way you can think to add weed to everyday life is, possibly, a marijuana business idea in the making!

Making Marijuana Products

pile of gummy bears and leaf

The production of cannabis products is a huge industry right now. Everyone seems to be making weed products and only some of them are good enough to make it big. So how do you go about starting a marijuana business with so much legitimate competition? Just find your niche and do it better than everyone else, of course! Whether it's cannabis-infused cookies or hemp drinks you'll need to perfect your formula and your image before even considering hitting the shelves. A good tip? Start out with high-quality weed and the job will already be half-done for you! Do some research into your competition and figure out how you can make your cannabis product more appealing than what's already out there.

Selling Marijuana Products

holding nug

If you want to get into the marijuana business on the sales side of things rather than production, you're in luck! So long as you have a decent understanding of how sales work, you'll be good to go. And since weed products are flying off the shelves so fast it's hard to keep up with demand, you're sure to find success if you play your cards right. Now's the time to start networking and decide what you want to sell and where. Door to door? In a recreational or medicinal dispensary? Maybe you even want to look into selling cannabis products online? The options are endless which makes deciding where you want to go even more difficult. Just keep in mind what is realistically achievable for you and work your way up. After all, not all businesses start big and get bigger. Sometimes working your way up to a marijuana business empire takes a lot of little baby steps instead of one big leap into weedy success.

Study Up on your Subject

woman lighting a large joint to smoke, a popular cannabis delivery method

It's pretty difficult to start a business (marijuana business or otherwise) without being a casual expert on your chosen subject. After all, if you're going through all the work to start your own business it makes no sense to choose something you're not knowledgeable in! As an employee, you might be able to get away with little to no research for your job, but that kind of lassitude just won't fly when you're the one calling all the shots. Starting a marijuana business won't work if the boss (being you) doesn't know what they're doing. So pull up Google, light a joint, and spend some quality time getting to know everything there is to know about your chosen field. With so much information at your fingertips, there really is no reason to (try) starting a marijuana business without studying first.

Get your Marijuana Business Legal

macro nug shot

Perhaps the most important part of getting your marijuana business off the ground is making sure you're doing everything legally. Since cannabis is a tricky legal subject, you really need to double check your venture – dot every i and cross every bureaucratic t, so to speak. Every state has their own laws for cannabis cultivation, sales, and recreation, and even those don't always apply across the board. Check with your counties' laws and regulations for starting a marijuana business before anything else. You don't want to start off your venture into the weed industry fighting court battles, after all. Keep in mind that filing all the proper paperwork for most marijuana businesses takes some money up front as well as a ton of mind-numbing reading. But if you're thorough and know your rights then your marijuana business will be off to a beautiful start.