If you are thinking of starting a business in the cannabis industry, you are definitely on the right track when it comes to profit. With the right idea and a good team, you will be able to thrive and advance with almost unstoppable speed.
The cannabis industry is now legal across different countries, making it one of the fastest-growing in the world. This is the main reason why a lot of people decide to invest their money in it. Not to mention the fact that it was worth $13.8 billion in 2018.
The cannabis industry is made out of four different branches – medical, recreational, industrial, and CBD oil. Though you will often see these branches crossing over to suit consumer needs. For example, some take CBD with THC for medical and recreational use. Depending on your ideas, don’t be afraid to mix and match branches for your target audience or business needs.
That being said, the most profitable one (and fastest-growing) at the moment is medical cannabis – worth $5.1 billion! Recreational cannabis is close second and is worth $3.2 billion. Those are indeed some inspiring numbers.
So if you are looking for business inspiration, you are in the right place! In this article, we will take a look at some of the most popular startups in the cannabis industry. The secret to their success is unique ideas and of course, a good business plan. This will give you an idea of what is already out there and how it functions.
LeafLink is an online marketplace for wholesale cannabis. This service helps retailers with the management aspects of all cannabis businesses, providing products like CRM, streamlined ordering, reporting tools, and shipment queues.
If you want to connect with other cannabis enthusiasts, then MassRoots is a platform designed just for you! You can use it for searching nearby dispensaries, write and get reviews, and post your own photos.
According to recent reports, Amazon is the most popular online retailer in the world. Eaze is known as the Amazon for medical cannabis and is rapidly expanding. It is connected with a lot of dispensaries, offering a variety of products and delivering them to your homes.
Surterra Holdings is most known as a cannabis-based therapy company. It manufactures and distributes medical cannabis products, such as vape pens, oils, transdermal patches, tinctures, sprays, and lotions.
Last but not least is the recruitment platform that helps connect people who are looking for a career in the cannabis industry. The service managed to find jobs for thousands of people so far and help them earn money by doing what they are inspired to do.
As you can see, all these services offer something unique and what people really need. This is a powerful combination when it comes to business.
So what do you think? Are you still interested in starting a business in the cannabis industry? Or maybe you already have a startup? Share your thoughts and experiences with us in the comment section below.
For more information about the cannabis industry, take a look at the infographic below.