Washington and Colorado have, for nearly three years now, expanded legal marijuana markets where nothing publicly existed before. Oregon, Alaska and Washington, D.C. followed this past year and legalization advocates expect more states to follow suit with each passing election. This is making it possible to cash in on legal pot, without actually selling it.
Cashing in on Legal Pot
The legalization of marijuana, particularly for recreational and personal use, has naturally opened doors for dispensaries. These budding businesses have, in turn, created an ecosystem of businesses that support dispensaries.
It’s a fascinating and rapidly growing industry with as much potential as there is reluctance. Not everyone, it seems, is keen on selling weed. But, as in any growing industry, there is money to be made.
So, here are 5 ways you can make money on the legalization of medical or recreational marijuana, without actually selling weed:
- Sell or service hydroponics equipment.
- Open a paraphernalia shop. Host trunk shows or tupperware style parties but for cannabis consumption products. Okay, so we haven’t really heard of anyone doing the tupperware style party or trunk show … yet. But you should. (And then PLEASE comment back here to let us know how it goes so we can feature you.)
- Provide delivery services.
- Offer bookkeeping or accounting services that cater to dispensaries.
- Provide security systems and business monitoring that meet grow facilities or dispensaries’ unique needs.
What other ancillary ideas can you add to the list? Please share in our comments. We’d love to feature you in an upcoming story.