5 ways to make money from weed, legally.
We live in a very interesting time ladies and gentlemen. In our lifetime we may see the end of one of the longest prohibitions in US history. If you’ve ever smoked some marijuana and by smoke I mean inhaled. Chances are you’ve pitched in on buying a piece of the beloved plant (I’ve got fiiive on it). Though most of us may have been a customer at one point, most of us have never truly considered making money from the plant. Partially because putting your money under a mattress is only a viable option until a certain point, but mostly because of jail cells. Seriously.
While the prohibition on MJ started over 70 years ago, the prohibition on alcohol in the US lasted 14 years. At the end of the prohibition of alcohol, some of the biggest players in the illegal market for alcohol easily became the biggest players in the legal market. They already had the inventory, distribution channels, manpower, security, knowledge and the politicians on payroll. The same thing will take place once the White House gets their head out of you know where and ends the prohibition on Marijuana.
Some kind-of-good news for the industry: It appears that the new president is in favor of medical Marijuana usage but not a fan of recreational marijuana.
Today you can recreationally smoke weed in 9 states and as a patient in 19 other states. That is more than half of the country where you can light up, whether as patient or just someone looking for a buzz. We live in a really interesting time. Marijuana used to be considered a plant that damaged your brain and due to experimentation and science we have learned that it actually has a lot health benefits.
With all the health benefits of marijuana and the legal medical/recreational use popping up state by state, this industry is expected to quickly grow into a bigger industry than alcohol. Though the use of Marijuana still isn’t legally recognized by the federal government. You might live in a state where it is legal to consume and are asking yourself, “How can I get in, legally?!”. I’m glad you asked. The following are 5 ways you can legally make money, today, from the quickly growing industry.
Grow Weed - Let’s start off with the obvious. The low hanging fruit, if you will. Every state is different, but in the state of California anyone that is looking to grow weed for personal use is allowed to have up to six plants in their home with no license. Though most frequent smokers would love to have a personal supply of marijuana at home. Most have no clue how to grow weed. Growing weed isn’t like any other plant, it requires more than a weekly cup of water and a window sill. If you are educated in the growing process of Marijuana plants, your knowledge can be very valuable. Think of a gardener for weed, yeah that’s a thing.
Edible Manufacturer - Food infused with THC? Yes, that’s a thing too. A lot of people like THC but they do not like to smoke or to smell like smoke. As a result there are many people who are meeting the market’s demand by creating food that gets you high. Assuming you obtain the legal permits, another legal path to entering the MJ industry is by creating a food brand that gets people their desired THC. Check out Pivotal Chocolates as an example of some good food that gets you up there.
Lawyer - Though there has been a lot of progress made in the industry towards legalization and a lot of the information is available online. There is still many people who have unanswered questions about the legalities of the industry. There is a huge opportunity right now around helping people navigate through the legalization of Marijuana and what that means for users in addition to businesses. If you can read through the lines of the legal jargon and tell people what they can or cannot do. You can align yourself with an incredible opportunity.
Develop a lifestyle brand - As many enthusiasts will tell you, smoking isn’t a habit it is a lifestyle. Many people bond over the love for the plant. Smoking is a group activity for many and for many people the plant plays a huge role in their daily life. Creating a brand that celebrates this lifestyle can be very profitable, just ask bay area hip hop artist Berner. His company developed a very popular strand called Cookies and an incredibly popular clothing line inspired by the strand. In one year his clothing line alone did $8,000,000 in sales.
Stock Market - If none of the above sound like your cup of tea, consider taking the position of an investor. There are, believe it or not, several marijuana related companies that are publicly traded on the US stock market. Everything from hydroponic companies to testing laboratories, you can invest in an array of legal MJ companies. While I am not in any position to give investing advice and wouldn’t suggest that you make any kind of investment. Check out this list of weed stocks to help you get your search started. Even hip hop artist The Game has invested over $2.5 Million in weed startups.
The weed industry is on the cusp of becoming a gigantic industry that even the President can’t deny how yuge it’ll be. Know the laws both locally and federally before making any decision. Though I think it’s safe to say that if you are interested in any kind of way you should at least dip your toe in this industry. Like with any venture, do you research extensively! Good luck!
Chadwick Burnaw - Chadwick@champagnewishes.tv