As the cannabis industry takes shape, the wide array of businesses that make up the industry really come into focus.
Manufacturers extract THC and/or CBD from raw flower and turn it into a broader array of products for end-user consumption, such as edibles, vape cartridges, topicals, tinctures, etc.
When laboratories test the plant, distributors transport the tested plant to processing & manufacturing or to dispensaries.
The oversupply of cannabis led to a precipitous decline in prices, devastating supply chain revenue generation prospects.
The surplus of weed was so vast that it would take an estimated 6.5 years to sell it all without any additional cultivation.
By comparison, ancillary businesses don’t touch the plant, and therefore don’t face the licensing and regulatory hurdles of plant-touching businesses.
There are small, local general contracting businesses that have been building out commercial and residential developments in their communities for decades.
State regulations are often very prescriptive about what features must be built into licensed facilities.
Packaging businesses provide containers, baggies, bottles and wrappers for cannabis products.
Technology products enable cannabis operators to run their businesses efficiently.
Whether you are new to consuming cannabis, or a connoisseur, every customer needs some form of accessory to compliment their smoking experience.
The key takeaway is that you can apply your existing expertise to this emerging industry, and without all of the fuss associated with obtaining and maintaining a license.
In contemplating these questions, you may find that you have the necessary tools to support the industry in ways that are unique to your strengths.
It may feel daunting, but always remember that it is anybody’s game at this juncture.