With the total sales in Washington State reaching $1 billion since the recreational got legalized back in 2014, businesspersons worldwide are considering investments in American cannabis production. The step to get into the cannabis market has turned into a gold-rush because there’s cash to make.
In states where legalization is yet to happen, most people are looking for a way to establish their foothold so they can be ready when the market starts to grow. If you are planning to capitalize on a new market, there are many opportunities for intrepid business ventures in the cannabis market. For you to successfully start the business, here are great tips to help you:
1. Buy Seeds
There is an endless variety of cannabis strains you can find in the market today. Before buying marijuana seeds from online sellers, you have to know the type of weed you may grow. You can start off by figuring out if you need to grow Sativa-dominant, hybrid, or Indica-dominant strain. As a broad generalization, Sativa-dominant is recognized to produce more cerebral highs, which can be mentally stimulating and energizing. Hybrid, on the other hand, produces different effects depending on the specific mother strains that are used to create cannabis. However, if you want to produce more pronounced effects in the body, you can grow Indica-dominant. This strain contributes to pain relief, feelings of sedation, and relaxation.
Another important way is to understand different types of cannabis seeds you can get in the market. If you browse through different seeds being sold at online stores, you will notice some of them being described as auto-flowering or feminized. Auto-flowering seeds have a lot to do with the growth cycle of cannabis plants. These seeds are genetically designed to produce plants, which automatically flowers without you adjusting the amount or type of light. On the contrary, feminized seeds are bred to produce female plants only. This means that you will not need to buy many seeds because the high percentage of cannabis will cultivate into productive females. Though feminized seeds are not fail-proof, thus you may need to pay attention to the sex of your marijuana to ensure you spot and get rid of male plants.
2. Obtain a License
An ever-increasing number of states have gone through the legalization of cannabis for medical uses. State laws determine who will grow and sell cannabis under certain conditions. At the outset, it has to be noted that the growing and selling of cannabis are still regarded as federal crimes, and whichever efforts are made to stay compliant with the local and state laws will not prevent you from getting prosecuted. No matter what, people who are starting a cannabis business may avoid serious issues by closely following the local and state rules.
The kind of documentation and licensing your cannabis business needs may rely on the location and sort of enterprise you wish to start. For instance, a person growing and selling marijuana will need a different permit and licensing from people running a dispensary. If you’re applying for a license in California, the following are agencies you may need to contact for help:
- Manufactured Cannabis Safety Branch
- CalCannabis Cultivation Licensing
- Bureau of Cannabis Control
3. Know the Best Growing Methods
The most popular growing methods include Low-Stress Training (LST) and SCReen of Green (SCROG). When it comes to Low-Stress Training, cannabis plants may be trained to make sure they grow a few centimeters on top of their pots’ rim. Only a few paper clips, cotton string, and tape are used for the training. You may use LST on regular, auto-flowering, or feminized seeds from Homegrown Cannabis Company, and might be useful to offer your plants extra stealth.
As for SCReen of Green, marijuana plants are topped, making them grow more in width than in height. Other side branches grow stronger, causing many branches to grow in width. With this, you may achieve good yields, but it may need more time and labor. Apart from LST and SCROG, you can also use other methods, like:
- Fimming
- Sea of Green (SOG)
- Monster Cropping
- Flushing
- Lollipopping
Also, cannabis can be grown indoors and outdoors. This firstly depends on the strain you are planting. Some strains are less resilient and can be grown only indoors like Northern Lights and Silver Haze. Other more resilient plants that can sustain weather changes and don’t require as much attention can be grown outside. If you want to know more about those strains check out this Zamnesia article on outdoor feminized strains.
4. Market Your Cannabis Business
Effective advertising and marketing are important to the growth and success of every business, especially new ones. However, with the current status of cannabis still in flux, most marijuana startups find it hard to navigate the tangle of marketing restrictions that state legislators have imposed on new entrepreneurs.
Although the cannabis industry is severely limited to advertising, there are various strategies which marijuana business may use to legally increase the awareness of their brands. This includes being smart at keeping restrictions in mind, the branding you use, and the location you pick to market. You may also consider knowing how your business may squash the stigmas that propaganda and years of prohibition have placed in the industry. To achieve this, you need to maintain fair labor practices and avoid derogatory messaging that can help you to successfully establish your cannabis brands. For you to fully establish your brand, you may consider using:
- Local community events
- Trade shows
- Podcasts
- Social media
- Search engine optimization (SEO)
5. Offer Delivery Services
When introducing delivery services to your cannabis business, ensure you establish a strategy for incremental sales growth. Determining your delivery strategy does not necessarily have to be challenging, but needs to be strategic. You may start by gathering historical data of online and in-store store sales to gauge whether the delivery service will be of great value to your business. Though before you launch your delivery program, you need to consider how it will change your business workflows and internal SOPs.
Alternatively, you may choose the right marijuana delivery partners. You may outsource the physical delivery to third-party fleet services, such as Grubhub or DoorDash, because managing and building a fleet might be expensive.
Concluding Remarks!
Legalization of recreational and medical cannabis across different states have allowed most clients to be accustomed to buying cannabis from producers. However, what’s more intriguing is the opportunity which legalization has established for medical patients and adults to grow cannabis in their homes. Therefore, if you’re planning to start a cultivation marijuana business, you may need to think of buying seeds, offering delivery services, marketing, and applying for a license to succeed.