5 Cannabis Businesses You can Start with $1,000
Business options you can start with that have a place in the growing cannabis economy
The growing interest in medicinal and recreational marijuana presents new opportunities for business entrepreneurs. The marijuana industry is still weighed down by regulations and some businesses can be risky. However, there are many low risks and low-cost opportunities you can start today.
Cannabis businesses can be split into two major categories; ancillary and non-ancillary. Non-ancillary businesses deal with core activities related to processing and include:
Ancillary businesses are those that are not directly related to cultivation or distribution of cannabis and include a wide range of cannabis-related services.
Non-ancillary businesses require licenses and considerable investment, but with proper planning, there are many opportunities you can explore. Is a non-ancillary business the best option for someone looking to start a business with $1,000 or less?
There are proponents and opponents to this argument. While starting small and slowly growing is an option, you are working with the product in a direct manner and more regulations will apply. One of these option is in the cannabis-infused edibles sector, you can start with a few dispensaries and increase your list as your capacity to supply more goods is enhanced.
More on this topic: Entrepreneurs Can Cash In On Marijuana Edible Business
The cultivation of marijuana is mostly associated with big companies running large-scale operations. However, there are many cannabis consumers who prefer products produced by small-scale businesses that are operated in a closely monitored setting.
You can start as small or as big as you like. There are hydroponic kits for sale that range from $100 to $1,000. Check local regulations since a license is required for this type of business.
This is a relatively easy to start cannabis business. There are two ways to look at this business concept. You can take the “ON-CALL” approach to advertise your delivery services to all dispensaries and become a driver for all who are short staffed. They get the orders and you can deliver on their behalf.
You can also take the “DIRECT or AFFILIATED” approach where you can invest a little into your own affiliated marketing platform, the orders can be made through the dispensaries website or your website with a copy of the order sent to the dispensary, and you can deliver the orders made through your platform. You choose the products you want to highlight and advertise in this affiliated option, which allows you more flexibily on the brand and product price point you’d like to focus on selling most.
To be successful you need to have a clear understanding of your clients and the product options available in the market, including strains and consumables. You will also need to carefully choose vendors with the right products and prices for your customers.
If you are concerned about licenses and costs associated with non-ancillary businesses, there are several options you can consider.
Cannabis Accessories Store
There are plenty of marijuana accessories you could sell. This includes accessories for cannabis consumption such as vaporizers, bongs, and pipes. Accessories can be sold using an online marketplace platform that can be customized to your liking. You can also sell merchadise by starting a simple online store, that shouldn’t require more than a few hundred dollars to start if you add a lot of sweat equity to the development of your online shopping experience.
Your merchandise such as t-shirts can be sold through platforms like Cafepress and Teespring that do not require you to have a website. If you’re looking for a more robust environment for your customers online experience with maximum flexibility for your new business endeavor, you may want to look at a WordPress/Woocommerce website option.
Digital Marketing Consultant
There are many businesses now dealing with cannabis in states that have legalized it. Many of these businesses need an expert who can help them handle digital marketing tasks as they take care of their core business.
Some of the tasks you could do as a cannabis digital marketing consultant include handling social media accounts, advertising through PPC ads, social media ads, and search engine optimization. All you need is a website, digital marketing skills, and knowledge of the cannabis industry.
This is an opportunity that could present itself in an area that has become popular due to the legalization of weed or events taking place in your local area or your state. Many events have a considerable number of attendees from other states and cities who would like to explore the full experience of responsible cannabis consumption in a legalized environment. If you have great customer service and people skills, this could be a lucrative low-cost investment for you.
Every state has its own regulations. Before you start your marijuana business be sure to check the rules and legal requirements that are applicable to your city, county and state.