3 Legal Pot & Marijuana Business Ideas

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How’s it going today guys so i’m continuing my series of talking about different business ideas and possible businesses to start in 2018 or going forward and today we’re going to be talking about pot businesses now before i get into this i just want to make almost like a disclaimer here obviously there is a lot that goes into having a legal pot related business so

If this is something you want to do you need to go out there and understand the laws yourself and understand the laws of your individual state or wherever it is that you are this is kind of a legal gray area for some of these things it depends on what state you’re in as you guys know some states have legal recreational marijuana use some states have legal medical

Marijuana use and in some states it’s still illegal for both forms of use so make sure you’re in a state that has these things that are actually legal if you’re going to follow some of these ideas for recreational use obviously make sure you’re in a state that has legal recreational marijuana use so i just want to throw that out there it seems like a no-brainer

But i just wanted to make a point to say that but what i would do is i would focus on this idea for the area that you live in because i think we most of us that have determined now we feel that at some point you know recreational marijuana use will be legal in all of the states in the us based on some states adopting that and how it’s been going for them as far

As tax revenue so you could almost use this as a time to prepare to start your own business but this is like getting in on alcohol post-prohibition because it’s something that’s going to become legalized and it’s like a clean slate for anyone to get in on this because nobody can do it just yet so if you’re in a state that doesn’t have legal recreational use there

Are a ton of business opportunities out there that will be emerging as soon as each state has legalized recreational use of marijuana so i think there are some huge opportunities for people who are looking to start a pot related business the marijuana boom is a huge business opportunity and legal pot businesses are a gold mine as they created spin-off businesses

As well so yes you could open a growler yes you could open a dispensary but there are countless other businesses you could start outside of those two things so most people would think about opening a marijuana related business would think okay i could grow marijuana in a grocery and you know supply to people who are using it for medical purposes or i could

Dispense it legally to people who can use it for medical reasons or if you live in an area that has legal recreational use you could do those two things but i’m thinking outside the box i’m thinking of other spin-off businesses that many people aren’t even thinking about so that’s kind of what i’m focusing on i’m hoping these ideas are ones you haven’t heard

Before because i didn’t want to just go out there and give you some generic ideas that people have talked about already so some form of marijuana use is now legal in over half of all us states and more and more legalizing every single year so we are seeing more states adopting you know legal use of marijuana in some form i’m focusing on the businesses outside

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Of growing and dispensing marijuana so number one my first idea is a pop friendly bed-and-breakfast so a bed-and-breakfast where people can go and they are allowed to smoke marijuana either in the house or around the house or in the backyard or whatever is that you are offering them so obviously this would have to be in a state where recreational marijuana is

Legal but i looked into this and airbnb which is the biggest site as far as booking bed-and-breakfasts go they actually have a section of the site dedicated specifically to marijuana friendly housing so there’s a lot of people that want to go traveling on vacation and there’s a lot of people that indulge in marijuana and if they are going to a house and they want

To smoke while they’re on vacation they’re narrowing their selection down to a very small number of houses okay so i’m sure many of these people on airbnb would not be interested in people smoking in the house or on the property but you could appeal to this very niche audience of people who are looking to smoke while they’re traveling or on vacation so you could

Also consider building an atmosphere that would be catered towards marijuana enthusiasts so i’m sure personally i don’t use it i know a lot of people do it’s not my thing but i’m sure as you guys know there are certain things that people who smoke marijuana they tend to have certain interests in music or artwork and things like that so you could actually create

Like an atmosphere that would appeal to these enthusiasts so it’s not so much a place where they can go smoke it’s actually kind of a destination and so you could create a very interesting experience for someone who wants to come to your bed-and-breakfast be able to indulge in their use of marijuana and also have a nice atmosphere that goes with it i see a way

To take this a step further you could actually think about creating some kind of pop friendly adult camp so almost like campy would go to as a kid with group activities but there’s also you know the use of marijuana there so obviously again this would be somewhere where it’s legal but you could go there with a group of people be around similar people with

Similar interests and just you know have a fun time and also be able to use marijuana i know there are a lot of places that have the same kind of thing set up for people who want to go party and drink while being at a camp so it’s kind of like childhood experience mixed with the fun of being an adult and consuming alcohol but you could do the same thing with a

Pot business with marijuana used instead of the use of alcohol okay so the second business idea is by far the one where i see the most potential and that is through any kind of consultation so offer consultation services for those who are operating a grower or a dispensary rather than starting your own because that would be a very expensive business to get into

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Why not learn everything you can about a certain aspect of the business and open up a consultation service so i just listed a couple of examples guys but there are so many more than this of things that you can learn and just start being someone that they contact and ask questions and help them start their business or improve their business operations so for one

Thing you could help a dispensary improve profit margins help them determine pricing that also ties in with the idea of helping them select strains so maybe there’s somebody out there who wants to get in on this they want to open a dispensary but they don’t know anything about marijuana this would almost be like helping someone open a wine store and deciding

What types of wines they should sell and help educate them on what the different strains are like in the flavors and obviously the effects of the strains you could work with a grower to help them increase their yield and also things like quality can roll you could look into pest control you could look into wondering there’s so many different things that go

Into the process of growing that you could really figure out something that you could help coach these businesses at and help them you know improve their margins and make more money in the process you could design groceries i’m sure as you guys imagine there’s a lot that goes into an actual roll read and obviously the lighting in the watering and the housing

You could help design these groceries because as you can imagine the more states that adopt legal marijuana use there’s going to be more people opening groceries so there’s going to be a need for people who can design these things as well as people who can go build these things as well so you could create a business of constructing groceries or even just doing

One aspect of that maybe you do the watering systems for them maybe you do the lighting systems for them so these ones too here maybe you’re not just building these things maybe you’re designing watering systems maybe you’re designing efficient lighting systems you know there’s so many potential things you could do here with this i’m just scraping the surface

Think about regulatory compliance something totally different i’m sure if you are dispensing medical marijuana or growing it there is a lot of legal compliance you need to follow so what if you are somebody who has a skill as far as law goes in you maybe you are a lawyer or you have some skills with that you could help these businesses with regulatory compliance

Because i’m sure that’s something that they are not an expert at and they need advice from an expert and then my last example is just helping up a start-up so maybe there’s somebody who wants to start up a business in the area maybe they want to open a dispensary or whatever it is they want to do you could help people start up a pot related business you could help

Them with social media presence you could help them with graphic design things like that there are so many different things you could do as far as consultation goes for pot businesses and then my third business idea is all about edibles okay so there’s a huge market for cannabis edibles and what i see that says is you could be the first person to make like the

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Edible bakery so the cannabis edibles bakery so not just you know your basic your basic pop brownie where people make them at home or whatever you could have really high-end baked goods that are infused with marijuana and again like i said like i’m going to just repeat this again this would have to obviously be in a state that recreational marijuana is legal and

I’m sure there are other laws in place as to not being allowed to eat these things while you’re in the business i’m sure you have to take them home um but there’s a lot that goes into this when you’re saying make sure if you’re going to do any of these things you do your own research but this idea isn’t just limited to two bakery items i could see this ranging

Anywhere from the pot brownie to high-end dishes infused with cannabis so there are a lot of people that actually cook with it and make you know very exquisite dishes that you could charge a lot of money for i know again i’m sure you can’t eat things like this and then get behind the wheel of a car but what you could do is offer in-home dinner parties so maybe

You go there and you cook up for guests and you offer like very high-end cuisine that’s infused with marijuana that people may want to have with their friends invite their friends over and obviously everyone’s in a safe place at that point but that’s one thing you could do but the other thing i thought of as well is many people enjoy smoking while eating and

Very similar to wine pairings you could offer select them cannabis pairings to their dish – depending on what they’re eating so that’s just another way you could tap into that high-end market but again you could also just do like a full-blown edible bakery and tap into that low-end market but i see a lot of potential with edibles you know things outside of just

Growing or dispensing pot in my opinion i think the big opportunities are going to come from the spin-off business it’s not so much growing it or dispensing it and you know there are so many other businesses out there i just kind of wanted to pick my three favorites if you guys like these business ideas i could do a follow up video of some more ideas but these

Will be these would be my top three favorites as far as them some of them are very cheap to get up and running as far as you know creating some kind of consultation type business there’s not a lot of expenses you just have to really educate yourself on one aspect of this business anyways guys that’s all i got for this video if you enjoyed this video please drop

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3 Legal Pot & Marijuana Business Ideas By Ryan Scribner

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