HOW TO MAKE MONEY GROWING MARIJUANA
The era of the Green Rush in 2009 heralded a period where lots of people from California to Colorado thought it would be their time to get rich by growing marijuana and making money from it. The plan then was to turn garages into grow rooms by filling them up with light sources and cannabis plant clones, and upon harvesting, millionaires would emerge. But things did not quite turn out as planned. Many of the major cities in Northern California expanded thanks to the California Gold Rush, and lots of people made money from it, but not many of those people are making money from growing marijuana.
Marijuana, like every agricultural produce, is subject to market pricing and the price of one pound of marijuana is dictated by the demand and supply of the market. The cost of cannabis is determined by who wants it, how much is available for sale and how much people are willing to part to get it. With high demand and limited supply comes high prices. The demand for marijuana is constant, but the price usually goes up as a result of prohibition and banning. Marijuana is also quite risky and difficult to produce and depending on the region, judicial system, and religion, growing marijuana could lead to imprisonment. This has made a lot of people who would have loved to grow marijuana scared of growing the plant, and this risk has led to a sort of scarcity in the market; thus, driving the price high.
Over the years, the law has accommodated marijuana and has somewhat reduced the risk of growing the plant as it gradually becomes legal across states. More people have chosen to grow marijuana which has caused a surge in supply thereby making the market oversaturated and a reduction in price. Some parts of California have so much marijuana in circulation that you cannot even make a single sale except it is of the most excellent quality. A saturated market benefits the consumer/buyer or patient that needs marijuana medication. When there are more growers, there will be options for consumers.
The downside of growing marijuana is that there is no government subsidy like other crops/ if a marijuana yield is poor, the grower bears the entire loss without any bailout, unlike crop farmers that get paid regardless of what they produce. If a marijuana grower should suffer an infestation of pest, he or she can go out of business.
So, you may be wondering how you can make money growing marijuana. Let’s check out some ways;
- Become a cannabis-rules consultant
In every sphere and sector, consulting has always been a highly rewarding and profitable career, and it is the same in the marijuana industry. As a grower, albeit a successful one, you can offer consulting services and make good money from it. With all the laws around marijuana and several amendments being made to the laws, the expertise and knowledge of cannabis consultants are necessary so that new entrants can be armed with essential information on marijuana regulations.
As a good consultant, you should be able to assist with licensing, design and cultivation for new marijuana growers. If you are knowledgeable about these, a lot of newbies can benefit from your knowledge about marijuana.
- Work as a cannabis extraction technician.
This is quite a fancy job that can earn you over a hundred thousand in income annually. Your job as a Cannabis Extraction Technician is to separate the marijuana flowers from the trichomes rich in cannabinoid. As an experienced grower who has perfected the art of extraction, this could be a rewarding gig for you. You must have adequate knowledge about using hydrocarbon solvents and organic chemistry.
- Start a marijuana business
As an experienced grower who has adequate knowledge about marijuana, establishing a marijuana-related business could be one of the ways to make money from growing marijuana. Imagine harvesting your marijuana and having a retail store that sells marijuana edibles or cannabis oils. You could potentially make a fortune in a city where marijuana is legal. For marijuana enthusiasts, nothing is too much for them to spend on this crop and if you make or sell products that they can buy, you sure stand to make a lot of money.
- Start a marijuana-friendly podcast
There are lots of marijuana enthusiasts, and there is no doubt about the fact that there are many interesting podcasts out already. But there is still enough room for yours to float. There are a couple of travel shows focused on marijuana and shows focused on marijuana policy. Some shows also feature high celebrities and those shows that highlight the process of cooking with marijuana. There are lots of entertainment opportunity in the marijuana world.
Have you considered a show focused on marijuana for LGBT, strictly women, the disabled, baby boomers, vegans or minorities? Think along the line of weed tourism or glass blowing. All these subjects have high potentials for sponsorship in the ever-growing marijuana industry. It is even better that you are a marijuana grower yourself and that makes you an authority on marijuana-related topics. You know all there is about marijuana and can state opinions as facts based on the things you have seen and what you have experienced as a marijuana grower.
- Supply weed to pharmacies and dispensaries
Well, you have to do something with the marijuana you harvest from your cultivation. Pharmacies and dispensaries need marijuana as a medication for a lot of ailments. These establishments are willing to pay for the best marijuana, and if you can provide that, then, you are in for a long-term stream of income. You can supply them with marijuana, get paid for it and make it a regular thing.
Growing marijuana entails a lot, and there is a huge potential to make money if you know what to do and how to go about it. As a marijuana grower looking to make money, consider the tips above and in a short time, you will be smiling to the bank and cashing checks.