Going Green: Becoming a Cannabis Entrepreneur

People nationwide are looking for ways to experience the financial freedom that can result from business ownership. With changes in legislation, it is no surprise that the cannabis industry has become more attractive to budding entrepreneurs.

More than half of the states in the U.S. have legalized cannabis use in some form or another. With this growth, there is a burgeoning market that is primed for exploration. The cannabis industry is a place for entrepreneurs with the drive and ambition to do something a little different.

While there are obvious opportunities in the cultivation and processing industries, there are some other cannabis-based routes to entrepreneurship which are as creative as they are profitable. Let’s take a look at some of the unconventional options to could consider if you want to branch out on your own in the cannabis industry.

Bud & Breakfast

One of the most lucrative business opportunities that has been presented are Bud & Breakfast locations. Yes, you read that correctly; pot-friendly Bed and Breakfast or Airbnb’s are popping up all over the United States. Like other travelers, cannabis users want to be welcomed warmly when they travel, whether for business or pleasure. Until recently, finding accommodations where they can feel safe and comfortable while enjoying cannabis was rare. There are many forms of cannabis-friendly B&B, from a traditional guest house set up to private rentals where guests are free to use cannabis on the premises. Some Bud & Breakfast locations even offer a full cannabis experience by providing edibles and smoking essentials for guests to purchase. Entrepreneurs who have already invested in this industry are seeing impressive returns of more than $1 million per year. Demand in the cannabis industry is high; making this a very lucrative business option. As with any business, there are costs and risks involved with owning a Bud & Breakfast. The most notable downside are the costs of buying and equipping the property for business use. It can also be a challenge finding a popular location in which the neighbors approve of your venture.

Cannabis Florist

For those who have a creative mindset and less money to invest in their business, launching a cannabis floristry service could be the way forward. Like a standard florist, a “bud florist” caters to their clients needs. For example, a local florist Los Angeles was asked to include cannabis in a wedding bouquet and throughout the marriage ceremony. There have been other instances when customers have added cannabis to their holiday centerpieces and decor. Existing businesses in this industry sector are thriving. If you make your floral pursuits a home-based business, startups costs are minimal at under $2000. It should be noted; some floristry experience is required, and a good knowledge of cannabis strains is also a must.

Cannabis-Themed Tours

In areas where cannabis is legal, there is an increasing demand for tours that allow interested visitors to be shown the best head shops and dispensaries in town. Walking tours and bike tours are already available in some states. Average startup costs are also low, licenses and fees can range from $2000 (walking tours) to upwards of $20,000 (cycling tour). Cannabis tours are an ideal opportunity for outdoor enthusiasts. The most glaring objection to this business idea is finding sufficient pot-themed attractions to visit in your local area. Do not be discouraged friends, like the saying goes…” if you build it, they will come.”

As you can imagine, there are countless business opportunities for keen entrepreneurs who are ready to harness the potential of the cannabis industry. From dining experiences to weed delivery services, it is clear to see that growth opportunities within the cannabis industry have not been exhausted.

Final note, if you are thinking about starting a business, contact your local small business association and the Secretary of State for all required license and fee details. Good luck and until next time, stay Irie!