No matter where you go, CBD and smoke shops can usually be found everywhere. With marijuana and CBD legalized across the country, this may be a good time to focus your efforts on this trillion dollar global industry.
The good news is that there are many ways to start or promote such a business without actually growing or selling physical marijuana or CBD products.
With that in mind, today we’re going to highlight three different ways you can take advantage of the current situation.
1 – Create a marijuana resource guide for those in need
First of all, with the benefits of CBD, weed, and marijuana getting more attention now than ever, more people are going to Google and social media to see what they can find out – instead of going to a local pharmacy or doctor first .
This means that there is a huge demand for high quality marijuana and CBD resources.
A perfect example of this can be seen in this article on weed delivery services in Boston. Not only is the website easy to find such delivery options in that particular city, but it also breaks down such services in different states in the country.
The advantage of having such a website is that it adds value to an audience while also being extremely useful for companies, brands, and pharmacies that supply such products – which ultimately leaves a lot of monetization options on the table for the website owner.
2 – Start a CBD and Dispensary Directory for Local Businesses
In addition to creating an online resource website or blog, you can also open your own directory. It may have been a hassle to set up in the past few years, but now that SaaS platforms are in place, it’s easier said than done.
You can see a live working example of such a directory on the CBD Hemp Finder, which currently lists thousands of locations across the country for buying CBD and hemp products – all without selling anything yourself.
While starting a CBD / Weed directory has many similar advantages over a resource site, there is also less manual labor and writing on your part – as smoke shops, pharmacies, and health food stores can add their own listings and manage their content.
Again, the real business model and value is in making the information and content easily accessible to those who seek it. The sites can generate income in the process through the use of paid offers, upgrades, affiliate marketing, and much more.
3 – Start a weed / CBD advertising agency
Another great way to make money in the marijuana business without actually having to grow or sell anything is by catering to the needs of the many companies and vendors who are already in it.
If you have a marketing background or an agency, you can take advantage of the opportunity to set up an agency set up exclusively for these companies.
HempireSEO is a great example of a brand that has managed to transition from being a regular SEO agency to branching out and focusing solely on weed and CBD customers.
With more people now looking for such products and information online, the demand to rank higher and attract new audiences is also higher than ever.
So how can you start your own SEO agency that focuses specifically on this industry? Easy … When you know enough about how SEO works and have the resources you need, start a new website and brand, and then get in touch with it to get new customers.
4 – Become an authority and an expert in the industry
The common theme of all of these methods highlighted today is the power of information and its delivery to an audience that is desperately needed.
The last example of how you can start a business or brand by delivering the greatest possible value to the audience is about becoming an authority and a trusted brand in your niche.
Outside of Google, where do people go when they need information? Usually it’s YouTube and social media – this is the perfect introduction to our next examples of influencers changing the market.
What was once a forbidden topic is now one of the hottest and fastest growing markets on YouTube. With thousands of highly trafficked YouTube cannabis channels, there are sure to be more in the future. Those who put the time, work, and effort into continually creating content and growing their fan base are now the industry experts and influencers of today.
And when it comes to revenue options, it’s not just about YouTube video ads. Instead, these influencers get big bucks for creating video content, working with sponsored placements, and sometimes even annual sponsorship and paid contracts for media placements and content outside of YouTube.
With Google as the largest search engine in the world and YouTube as the largest video search engine in the world, it’s just a breeze if you’re creating video content of any kind.
How to make the most of the early days of legalization
With 2021 just beginning and new regulations for the legal use of marijuana and CBD coming into effect every day, the industry will only continue to grow day by day.
If you are currently on the sidelines wondering how to make money in this industry and are scared of the idea of being a breeder or opening your own shop, these four ideas and ways of working might be perfect for you.
As with any business opportunity, not only is it important to research the industry in advance, but also to have a plan of action.
Take a look at the ideas and opportunities listed and see which ones best fit your existing expertise and services. If you are already familiar with several areas of content creation and online marketing, you can implement any of these methods by starting your own agency.