The cannabis industry has in recent years, presented unique investment opportunities. Right from growing the actual crop to processing it and coming up with exceptional products, a number of people and big companies have generated significant returns in the process. Conversely, investors have accrued a substantial amount of returns on investing their capital on a number of cannabis-focused companies as well as stocks.
Returns on investments in the cannabis industry are not expected to slow, any time soon, as the industry is growing at an impressive rate with the market size poised to reach $16.9 billion mark in revenues by the end of the year. The remarkable growth stems from a friendly regulatory framework that has led to recreational legalization in some states in addition to medical marijuana legalization.
Expansion and diversification of the multibillion-dollar industry continues to give rise to new ways of gaining exposure to the burgeoning sector. As it stands, one does not need to only invest in cannabis stocks or the actual plant production to generate some returns out of the cannabis plant.
Instead, the use of tech as well as the web is providing new ways of gaining exposure to the multi-billion cannabis industry.
Below are some of the ways of how tech and the web are becoming useful in helping people gain exposure to the multibillion-dollar industry and generate significant returns in the process.
Cannabis Dedicated to e-commerce
Gone are the days when one had to set up a brick and mortar store to be able to run a business. The spread of the internet means has made it easier and cost-effective to start and run a business from the comfort of the living room.
By setting up an e-commerce site, one stands to get involved in the cannabis revolution by selling some of the cannabis-related items in addition to cannabis products online. With that in mind, cannabis paraphernalia such as t-shirts, glassware, ashtrays among other items are some of the best to sell online
The same way people buy items of their favorite sporting teams from T-shirts to bags, as well as armbands, is the same way cannabis enthusiasts are demanding for similar items. Some of the cannabis accessories likely to attract strong interest on any cannabis focused e-commerce platform include hand pipes, water pipes as well as vaporizers, filters and rolling trays.
In addition, one can sell edibles such as homemade cannabis-infused snacks like pies and cakes all in the effort of making some income on the side
Cannabis-infused cosmetics such as lotions, shampoos are also becoming increasingly popular as people come to terms with their health benefits. By stocking these items, one is sure to attract a huge following as very few entities currently offer such tailored offerings
Currently, there are a number of on-demand platforms such as Teespring and Cafepress, which allow people to launch e-commerce platforms for selling such items and make a profit in the process.
In addition to selling cannabis and its related products online, one can also launch a cannabis delivery business in states that have legalized both recreational and medicinal marijuana. Given that cannabis is not that heavy, one may not need a big truck or a van to launch a successful cannabis delivery operation. A motorbike or a motorcycle would be more than sufficient to make deliveries and generate some returns in the process
Specialize On Cannabis Content
Cannabis content is on high demand as people look to get a head start on the benefits of the plant in addition to potential investment opportunities. In an era where consumption of content online is expected to continue rising, thanks to the spread of the internet, starting a website or a blog dedicated to everything cannabis would be the right call.
While running a blog or a website, the ultimate goal should be providing readers with accurate content pertaining to new legal developments as well as any new products or services in the industry.
The idea with a cannabis-focused website or blog is to provide clarity in an industry that is currently shrouded in mystery. By providing relevant information on all the latest developments in the cannabis space, one is sure to attract a huge following in terms of website traffic.
In addition to providing information, one can also create a cannabis product reviews that would provide insight on all the popular cannabis products. The reviews should be tailored in such a way that they help people make informed decisions on products, especially those products designed to address various medical conditions.
A well-curated cannabis website or blog should help one attract the masses crucial to attracting advertising dollars from brands looking to reach out to the masses with various products or services.
In addition, you can leverage the power of the internet by opening a social network that connects various people involved in the cannabis business. By building a robust social network for cannabis consumers, one can attract tremendous advertising opportunities from brands looking to reach out to consumers.
Becoming a reefer reviewer and blogger is one of the simplest ways of making it big in the cannabis industry through tech. Currently, there is a growing opportunity for people who can guide newcomers by offering reviews and advice on various aspects of cannabis. With the help of a blog or a website one can provide reviews and experience on the use of cannabis and its derivatives
However, it is worth remembering that this career is not all about sitting on the couch and trying to taste all cannabis strains just to provide reviews and first experiences. Having in-depth knowledge of all the strains and products pertaining to cannabis does not entail using them in the first place.
Offer Cannabis Consulting Services
For legal professionals, Cannabis is presenting a unique opportunity to provide legal services on various aspects of the burgeoning industry. An influx of people and companies looking to venture into the cannabis trade means there will always be a strong demand for legal services as businesses look to play by set out rules.
The fact that there are diverse legal regulations, depending on the State, a cannabis-focused business will always be on the lookout for legal minds that can help them interpret various regulations. Businesses looking to gain FDA compliance for hemp-derived businesses must also seek redress with legal minds to hasten the compliance process.
By starting a virtual law firm online, legal web professionals should be able to reach out to potential clients looking to engage in the actual business of growing, producing and selling of cannabis plant. Large businesses venturing into the trade would be more than willing to pay for legal advice that is available on the touch of a button online.
In addition to proving legal services, there is also growing demand for public relation services as big cannabis companies’ look to curtail the growing stigma and misconceptions attached to cannabis. Large businesses are currently on the lookout for public relation experts that can help provide weed-related businesses education to the public as they seek to broaden their market target.
App Developers and Cannabis
Software engineers and app developers, there is a growing demand for people with such skills as companies look to reach out to the masses with their end products. Currently, there is a growing demand for apps that can help companies connect with actual cannabis growers.
Now maybe the best time to put coding skills to good use as the cannabis industry is still in the infancy stage. As cannabis become legal in all forms, app developers and software engineers are sure to enjoy a consistent stream of work from business, companies and individuals looking to come up with digital platforms tailored for cannabis products and consumers.
Companies engaged in the production of cannabis-infused products are also in dire need of apps that can help them connect with the end market. In addition to developing apps and platforms for cannabis businesses, one can also specialize in offering technological solutions to cannabis-related industries. For instance, WebJoint currently offers services that help cannabis businesses set up websites and platforms for their operations
Run a Cannabis Employment Service
The cannabis industry is still in the early stages of development. As it stands, upcoming cannabis entrepreneurs and established businesses do not know where to go in search of the necessary skills and talent needed for various operations around cannabis. With that in mind, one can start an online platform that makes it possible for cannabis-focused businesses and companies to connect with people with skills pertaining to multiple facets of the cannabis business.
Cannabis, employment service should allow one to gain access to a pool of cannabis job seekers as well as companies looking for the workforce. While business might be slow at the start, such services should be in high demand as the industry continues to expand.
The internet should continue to make it possible for people to pursue opportunities in the cannabis industry. With the right idea and minimal resources, those who find a way of connecting cannabis producers and consumers while leveraging various technologies stand to generate significant returns as the cannabis revolution takes over.