11 Cannabis Business Ideas To Start In [2024]
Cannabis is a genus of flowering plants that includes three putative species, Cannabis sativa, Cannabis indica, and Cannabis ruderalis. The first two species are the most widely cultivated.
The cannabis industry is growing rapidly, as is the public acceptance of cannabis.
The cannabis business can be a very rewarding and lucrative business to get involved with. However, you need to proceed carefully so you don't run into any trouble with the law.
Here is a list of the top 11 ideas you can start for the Cannabis Business:
1. Start a pet cbd products
Pet CBD products are a growing trend. Pet owners are increasingly turning to hemp-based products to help their animals with a variety of ailments, including anxiety, arthritis, cancer treatment side effects, and pain relief.
With more than half of American households owning a cat or dog, it's no surprise that the pet industry is booming. While the market for pet health and wellness products has been growing steadily for years, it's recently experienced a surge in popularity around CBD.
How much you can make: $18,000 — $42,000/month
How long does it take to build: 135 days (?)
Dope Dog, a CBD dog product company founded by Michael and Erin, went from 1 product to a full line of 9 products within a year, generating $18K in monthly revenue through organic growth and word of mouth marketing.
2. Start a cbd coffee business
CBD coffee is a type of coffee that contains CBD, or cannabidiol. It's made from coffee beans that have been extracted and processed to extract the CBD from them.
CBD coffee has become increasingly popular in recent years as people are becoming more aware of the benefits of cannabis-derived products. As more people use this product, demand will continue to increase and you'll have an opportunity to get in on the ground floor of this growing industry.
Starting a CBD business is the perfect way to make some extra money while you're at home. CBD coffee is a hot new trend that's taking the world by storm and is a relatively easy business to start.
How much you can make: $8,500/month
How long does it take to build: 270 days (?)
Jibby Coffee is a feel-good coffee brand that raised $8.5k per month by cold-brewing organic Colombian coffee and balancing it with tasteless, lab-tested CBD to create a better coffee experience.
3. Start a cannabis subscription box business
A cannabis subscription box business is one of the best ways for entrepreneurs to get started in this particular industry. The market is huge, and there's room for everyone!
Cannabis subscription boxes have been around for years, but they've recently been experiencing a surge in popularity.
There's a lot of money to be made in the cannabis industry and if you're thinking of getting into it, you might want to think about starting a subscription box business.
How much you can make: $350,000/month
Learn how Michael Berk founded and grew Cannabox, a monthly cannabis subscription box, to have an MRR of $350,000 and 11,000 subscribers, by being a pioneer in the industry, hiring the right people, staying humble, and using SEO, email marketing, and social media.
4. Start a smoking accessories business
Smoking accessories are in high demand and they can be sold at any time of day or night. Many smokers use the same accessories every day and have no trouble paying for them, so one can see why this is such a good business idea.
Smoking accessories are a great way to expand your smoking product line without having to invest in new inventory.
By offering your customers an array of different smoking accessories, you can increase your profit margins while also increasing customer satisfaction by letting them choose their preferred method of smoking.
How much you can make: $70,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
California-based online headshop marketplace CaliConnected has grown its inventory to over $40m and generated nearly $2m in lifetime sales while operating without paid search advertising, instead focusing on SEO and affiliate marketing through platforms such as Affiliatly and Moz.
5. Start a marijuana cigarette making business
People are always looking for a new ways to enjoy cannabis. Marijuana cigarettes are a great way to enjoy marijuana and they're also relatively easy to make.
Marijuana is a booming industry, and it's only getting bigger. Marijuana cigarettes are a popular way to consume marijuana and are especially popular among people who do not want to smoke a joint.
How much you can make: $275,000/month
Plain Jane, an online CBD company founded by two college roommates, offers unique products and has generated over $20K a month in sales within five months, attracting and retaining customers through social media, authentic stories, and content.
6. Start a CBD oil business
CBD oil is taking the world by storm. It's a natural, non-toxic, and highly effective way to manage everything from anxiety and depression to chronic pain. And it can be used in so many ways smoked, vaped, ingested, or applied topically.
Research shows that CBD, the non-psychoactive component in marijuana, has a host of health benefits and can help treat everything from anxiety to chronic pain to cancer. And with more states legalizing marijuana for both recreational and medicinal use, the market for CBD oil products is only going to continue growing.
How much you can make: $3,000 — $300,000/month
How long does it take to build: 200 days (?)
CBD oil brand Populum grew from $650K to $1.4M in annual revenue in just one year, with monthly sales of $220K and an ARR of $3M, due to investing in high-quality, trustworthy hemp products and stellar customer service.
7. Start a CBD subscription box
A CBD subscription box is a monthly package containing different types of CBD products. The most common box will include a vape pen or vape juice, some edibles, and some topical creams.
A CBD subscription box is a great way to introduce your customers to the benefits of CBD. You can create an assortment of products that can be purchased individually or in bulk amounts. Each product in your box is designed to target different health needs, so there's something for everyone!
How much you can make: $42,000 — $300,000/month
How long does it take to build: 90 days (?)
Hemp Crate Co is a CBD subscription box delivering over $125 in value to their 1,000+ subscribers, generating $50k+/month in revenue, operating as a side hustle while offering a low-capital, prepay-based startup model.
8. Start a smoking accessories brand
The smoking accessories industry is a billion-dollar market, and it's growing. While the market is primarily dominated by big brands, there are still opportunities for new brands to make their mark.
To succeed in this industry one should make sure that the brand is professional, but also fun and unique. You want your customers to feel like they can relate with you, and that they can trust you. Your target market is people who smoke and enjoy the lifestyle of smoking.
How much you can make: $10,000 — $70,000/month
How much does it cost to start: $3,000 (?)
How long does it take to build: 90 days (?)
This case study showcases how a smoking accessories brand called Tetra created a unique and elevated position in the industry, and has since grown to average nearly $20,000 per month in revenue with no outside investment and just a $12,000 initial founders’ outlay.
9. Start a hemp products business
As the hemp industry continues to grow, so does the demand for hemp products. The time is right to start a hemp products business.
Hemp is a versatile and sustainable crop, and with the rising popularity of hemp products, it's a great opportunity to start your very own hemp products business.
You can choose from a wide range of products including clothing, cosmetics, food products such as oil and flour, and even building materials for homes and other structures like fences or barns.
How much you can make: $3,000 — $800,000/month
How long does it take to build: 90 days (?)
Plain Jane, an online CBD company founded by two college roommates, offers unique products and has generated over $20K a month in sales within five months, attracting and retaining customers through social media, authentic stories, and content.
10. Start a cannabis packaging business
Cannabis packaging is a growing market because it's an essential part of the cannabis industry. Packaging helps protect marijuana from being exposed to harmful substances during transport and storage, while also ensuring that customers receive their product safely and easily.
Cannabis is quickly becoming one of the most lucrative industries. With the legalization of recreational marijuana in Canada and many states in the US, entrepreneurs are turning to cannabis packaging as a way to make money.
How much you can make: $350,000/month
Learn how Michael Berk founded and grew Cannabox, a monthly cannabis subscription box, to have an MRR of $350,000 and 11,000 subscribers, by being a pioneer in the industry, hiring the right people, staying humble, and using SEO, email marketing, and social media.
11. Start a marijuana farming business
With the passing of the sweeping bill that sought to decriminalize and legalize marijuana, you might wonder how you can get into the weed-growing business. One approach is to start a weed-growing business.
Marijuana farming is a big business in some places and some ways. If you plan to start farming marijuana, study the legislation in your state and at the federal law. By studying marijuana laws locally and federally, you will understand how to farm marijuana legally.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
