The cannabis industry is all money. If y’all were to get into it all over again where would you go? Where is the money in this. Distillation? Extraction? Growing and selling? Making carts? Edibles? What do you fancy?
Growing is still pretty good it’s the backbone of everything
I think that answer depends on the state tbh. In Mass that question even changes from medical to rec, the regulations determine pricing first and foremost from what i’ve seen.
I think retail is a great place to be because if you can curate and work with brands, the overhead is fairly minimal, however the success lies in your employees creating a positive guest experience.
yup its like the gold miners and shovels xD
And powder. Mountains of mediummmm
I’d say equipment like killa said. If you are dealing with cannabis/hemp products for rec/med then it would the edible game or performing extractions and doing splits. Edibles have such a huge mark up. Get one kilo distillate and you can make around 20,000 edibles at 50 mg or 10,000 edibles at 100mg. Edibles have a huge price margin you can drop price down to 5 dollars for 50mg and you still make six figures
Honestly, if you want to make a killing on the west coast in the cannabis industry, you should sell meth. If you have really good product you will have the most gated cannabis industry face cause most of em some licks.
The money is wherever your niche is. There’s money to be made on all stages of production and ancillary markets. You will only succeed in the one that you dedicated to. It’s the only way you’ll stay ahead of the competition.
It’s not in working for someone else.
sounds like you’re trying to figure out your place in this industry. don’t base it on whats the most money. you will encounter losses in any direction but also be smart and finding out what the market needs around you. base it on what youre good at. what you have passion for. If you do this base solely on the money. you wont last. i think every successful person here went through many nights thinking its not worth it but also knowing there is nothing in this world they rather be doing.
You gonna go real broke with that mentality but the answer to me is always real estate and what @Killa12345 said
Your forgeting the most inportant but also most difficult to start of
The money of this trade is in medicine
Of all those that got in this the few medicine company that have been able to get medication devoloped and aproved are the most valeuble in the industry but yeah those are 9 figure numbers to get started
what do have on deck
This is perspective. you can go real broke growing and getting raided. You can go broke if you invest up scaling the laboratory to only have the contract taken away because of the repercussions from the vape epidemic. You can go broke selling a defected equipment that caused bodily harm and now a lawsuit is against you. You can broke by paying lawyers and affiliates for a half fronted full box order that your friend of 15 years got caught up with. But we have a saying in the south. you’re not a true hustler in the game until you lose everything and bounce back. Dont bother putting skin in this late of the game if you doing this just for the money bc shit happens. Are they going to take those L and want to continue or they just going to say F it and move to the next industry… Thats why i said be passionate about what you do bc those things have happened and will continue to happen.
This doesn’t work for everyone, but I would say focusing on development of IP (whether it is consumer end products or medicines). Registration of formulations that help people with their ailments and/or delight your consumer base. Our industry is still in its infancy and big consumer brands and pharma (think HPC like UNLVR, J&J, P&G; or the likes of Pfizer, Merck, etc.) have yet to enter the market. What would they want to achieve in the industry if they got in? Position yourself accordingly.
My two cents at least, not the path for everybody.
In New York. You could be a prison guard.
I often dream of starting a data collecting clinic
So person Walks in with an ailment
And gets an amount of cannabinoids
And gives feedback
Every ailment say 50 patients
And start collecting data then once data seems positive en large that group and colect more data start playing with ratio s etc etc Maybe them sell that data😜