The business of cannabis and its derivatives is in fashion. The progressive legalization in some countries and the growth of products that use part of the substance in their preparation is attracting the attention of large investors and new entrepreneurs.
One of them is former soccer player David Beckham , who has decided to invest in Cellular Goods , a company that creates a synthetic derivative to smoke without THC, the substance that gives the feeling of being high. The company, which will soon go public, hopes to get around 23 million euros in the movement.
But not everything stays with cannabis for smoking. There are other legal businesses with which to take advantage of this product. Here are some ideas.
Profitable businesses around cannabis
It is one of the most profitable and well-known lines of business in the cannabis market. Research on the cosmetic benefits of cannabis is leading to the creation of various beauty products or even anti-inflammatory or pain-relieving creams, which are based on the components of this genus of plants.
In this section, there are plenty of ideas: a brand of edible products derived from cannabis to sell in supermarkets, a cafeteria that only sells this type of product, a cooking workshop to teach how to prepare recipes… The possibilities are varied. Everything depends on the regulation of each country in this matter.
The regulation of cannabis in more and more countries is creating a previously invisible community around these plants. For this reason, organizing events in which your consumers come to discover new products and varieties can be a great business idea. The Spannabis fair, which is held in Barcelona every year, is an example, bringing together investors and entrepreneurs from the sector from more than 40 countries.
Advertising and marketing
For the same reason, if you are an advertising or marketing professional, the cannabis sector will need professionals specialized in this field in the future. The sooner you find your place in the industry, the sooner you can get to work in a market with few competitors and many customers.
The proliferation of new stores and coffee shops in the United States due to the legalization of cannabis is creating a strong demand for interior designers who turn the image of a previously underground activity into an attractive and elegant business for their clients. Therefore, specializing in the design of this type of space can be a great business idea if your passion is decoration.
If you already know the market and have had experience growing cannabis, legalization in some countries may bring you one last job opportunity. Advise people who are going to grow a small plantation at home and sell them everything they need to get started: seeds, pots, lamps… There are countless products needed to care for cannabis plants at home.