The cannabis industry has experienced remarkable growth in recent years, as around the world, the stigma surrounding the plant has begun to fade. As misconceptions about its use are ironed out, many have seen the incredible business opportunity that exists as a result. There is a lot of potential to make money legally with cannabis and in this article, we will look at some of the ways you could do it today.
- grow it yourself
The first is the most obvious. As cannabis becomes legal, the opportunity arises to grow the plant yourself and harvest the product to sell to willing buyers. This can be very lucrative if you do it right, but it really requires experience, resources, and of course, patience. This is a long term game.
There’s something to be said for economies of scale here, too: it often makes a lot more sense from a financial perspective to grow in large numbers, which can be prohibitively expensive for some people. But if you’re in the industry and can make this work, it can be a fantastic way to make money.
- Invest in cannabis companies
If you are not looking to get your hands dirty, the next option is to passively invest in companies that are in the cannabis industry. Some are already publicly traded companies, but many of them are still privately owned, which can make finding these deals difficult. These could be producers, manufacturers, brands, suppliers, or a variety of other stakeholders who will benefit from the potential boom the industry could see in the coming decades.
If you believe in the industry, this is a great way to leverage your funds and hopefully get a nice return on your investment as things grow. You’ll want to make sure you understand the company you’re investing in and have confidence in its leadership, strategy, and market positioning. But if all those boxes are checked, then this might be a good option for you.
- Invest in individual cannabis plants
There are also opportunities to be much more precise with your investment and invest in individual plants rather than companies. Operators like CDBGrow will grow the plants on your behalf, use your investment as financing, and then pay you the yields from those individual plants when they are harvested and sold. This is a really interesting model because you can cut out all the middlemen in a traditional company and make a much simpler bet on the supply and demand of cannabis as an industry.
It also gives you a more direct connection to your investment, which encourages better accountability and participation in what’s going on. You can use your own psychology to improve yourself and your investments. It’s a business model that can be really powerful.
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Those are just three examples of how you can legally make money with cannabis. Whatever your level of experience or interest in the industry, there is something for you. And by entering this industry early on, you can reap all the benefits of being a first mover. There’s a lot to get excited about here and there’s a lot more to come. So stay tuned.