Cannabis is a business that is moving into the world of legal production and the chances for great profits are there. However, the industry is extremely competitive. To make sure that your cannabis business can grow without a lot of disruption, you will need to make the right choices and get expert help.
Choose the Right Strains
As legal parameters change, you may be able to change the strains you choose to grow and process. Hybrid options will change up your offerings quickly, rather than doing a full flip from Indica to Sativa. As you build clientele, keep an ear to the ground for ways to expand that will keep your current clients happy and your base growing.
Be aware that farm ground is growing in value. Make sure that you include money in your business budget to make room to leave the ground fallow, sow cover crops or build in time for green manure, such as an annual grass. While tending new ground and building up the soil, check into the regulations you need to meet to get your ground certified organic.
Canopy and Production Space
In addition to staying on top of legal changes, your choice of cannabis real estate is critical. Obviously, you will need square footage, but you will also need
- water rights
- an easy to secure facility
- utility access
Having your business limited by square footage is challenging; having your production ability stymied by limited power or water is maddening. Overcommit to square footage and give yourself growth goals to strive for.
Labor in the cannabis industry is cheap, but it is ongoing. Over time, a quality piece of machinery with a few well-trained workers will save you labor costs and the frustration of bringing in new temps each season.
For those planning to press, bottle, or bake their product, make sure that your mechanization plans include
- automated shipping, including refrigeration access as needed
- a barcode tracking system for freshness and use by date notifications
- secure data tracking for your clients
Because restrictions on the shipment of vaping tools and products for the protection of minors are constantly changing, the ability to quickly change up your shipping process is key to getting the product to your clients.
Strive for Your Niche
If you are producing a line of CBD to support those with chronic pain or autoimmune challenges, consider pairing with a vape tool creator who focuses on discrete products for microdosing. If your product line includes legal THC distribution, include data about safe celebration and relaxation on the weekends.
While hemp-based CBD products are generally legal across the nation, THC products are governed on a state-by-state basis. Your products and packaging need to reflect your dedication to legality and safe delivery to adults in the household.
Educate Your Client Base
To that end, be ready to go to the work of educating your potential client base. Many CBD producers offer products that could be highly beneficial to senior citizens, but the confusion about CBD vs THC inherent in some products continues.
For those who have long distributed CBD oil for sublingual use, it may be time to focus on cream for sore joints or a lotion for irritated skin. If you have a showroom or retail space, keep this product on display and, as possible, gather testimonials to promote the benefits of these items.
Consider also partnering with alternative healers in the area. If you know a masseuse who uses CBD creams for their sore joints, ask them to share their experiences and request a bit of retail space in their facility. Preface this request with a detailed third-party testing write-up about the security and purity of your products.
Plants from the cannabis family have long been known to produce beneficial products. Recent legislation now means that these plants can also produce legal profits. Finding the right location with the proper utilities is key, as is getting good ground with organic certifications in which to grow products. As you build your product line and focus on your cannabis goals, be ready to also educate your intended client base to increase your ability to market the product.