The entrepreneurial spirit has never been higher. Which coincides with a rapidly growing cannabis market. For those budding business owners that have a passion for pot, making their move into marijuana is highly appealing. But as soon as you start taking a look at the costs of getting licensed for a cannabis business, you may have second thoughts.
No worries, we’re here to help keep your dream alive. There’s a wide range of ancillary business opportunities in the industry today that are cost-effective. So keep up your desires to get into the ganja game, and keep reading for the top 9 cannabis businesses that don’t need a license.
A Growing Industry
You don’t have to grow, to get into the cannabis industry. In 2016, legal cannabis sales hit $6 billion, and are projected to reach $50 billion by 2026. These numbers paired with the fact that federal legalization is seriously being considered by legislators mean it’s an up-and-coming market that has no plan of slowing down soon.
In any industry, ancillary business services and vendors are vital to keeping standard operations running efficiently. For cannabis, it’s no different. Ancillary cannabis businesses are on the up-and-up, as specialists are needed to fill these voids in the early era of the market.
Even better for owners, is the fact that ancillary opportunities are also cannabis businesses that don’t need a license. Since licenses can cost up to hundreds of thousands per application, this is especially ideal for start-ups.
Top 9 Cannabis Ancillary Businesses In Demand
You may have a specific skill set that you can easily translate to the cannabis business. For others, you may need a few cannabis ancillary business ideas. That’s why we’ve put together the top 9 cannabis ancillary businesses that are growing in demand.
1. Packaging & Labeling
Think about all of the emerging cannabis goods that require packaging and labeling. From concentrates to edibles, flowers, and pre-rolls, there’s a plethora of products that can benefit from smart ways to pack and distribute. From designing to manufacturing, the ancillary cannabis businesses in this niche alone will continue to boom.
2. Software & Technology
In any industry, processes and checkpoints can always be improved for maximum efficiency. With a new market like cannabis, the possibilities are even greater. Since everything is ‘new’ to the business owner and operator side of the cannabis industry, dispensaries, retail storefronts, cultivation, and processors can all benefit from advanced solutions in the tech category.
3. Business Services
Yes, it might seem like there’s already an overflow of marketing, branding, public relations, and attorney businesses in the world. But how many are specifically formulated to meet the needs of a unique industry like cannabis? If you’re already in these important business services, a pivot into promoting pot can be simple – branch off, and try something new.
4. Consumption Tools
Are you the type that likes to get innovative and handy? Or, are you especially crafty with glass, metal, or other materials often used for consuming cannabis? Why not be the next best vendor of the latest and greatest consumption equipment or accessories?
Cannabis connoisseurs continually re-up their stash with tools like bowls, trays, boxes, containers, bongs, etc. There’s always room for more, as medical and recreational use continues to rise.
5. Growing Products
Growing cannabis went from an underground operation to a legitimate business, with garden and hydroponics stores popping up on almost every corner. Those stores are chock-full of nutrients, products, and tools, to make the process of cultivation that much more streamlined for those who are licensed to do so. Since producing your own product doesn’t take a license, you can be on the shelves in no time and with less up-front of an investment.
6. Staffing Solutions
A growing industry takes a growing number of people to take on all the moving parts of the operation. In fact, according to Leafly, cannabis is the fastest-growing job sector in all of America. This means the doors are wide open for ancillary business staffing solutions, like specialized recruiters, temp services, and human resource management.
7. Consulting Services
Do you already have some type of experience in the industry, or a special niche like accounting, tax preparation, etc? Your professional services are becoming a hot commodity for those who are seeking to get into the business and have the money to get licensed to do so. Cannabis-specific consultants, on the cultivator and biz side of things, are on the rise as popular ancillary business ideas.
Due to the nature of forced cash business, expensive equipment, and product – security is key in cannabis. Not to mention, certain regulations are required by compliance and recommended for safety and best practices. All dispensaries, cultivation centers, and extraction labs, require an ample amount of security, where you can help serve license-free.
There’s still a lot to learn for consumers, growers, and business owners alike, in the cannabis industry. If you have an education or speaking background, then organizing and sharing knowledge is a void in the industry that you can help fill.
Ante Up On Ancillary
Now’s your time to get into the cannabis business, with a license or not. Ancillary business services and operations are crucial for any thriving industry. So ante up your chances for success with any one of these cannabis ancillary business ideas. You could join the growing community of budding entrepreneurs making their mark in marijuana, without the costs of a license.
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