Cannabis Industry and Millennials: The Plant-Crazy Generation

Yet another passion that has been attracting a lot of millennials lately is gardening. If you're one of those millennials who like gardening and love being around plants, maybe there's another world for you to discover. If you feel calm around plants, you might like being introduced to plants that can be held accountable for 70% of all the happiness existing among humans.

Cannabis, more popularly known as "weed", is ironically one of the most sought-after plants.

Why cannabis?

The cannabis industry is booming exponentially and has become the centre of attraction for many investors. The larger turnover it offers is a primary reason that has been drawing more and more investors towards it. Also, the potential for growth this business offers is exquisite.

It has a lot to challenge the investors and is a lot more than mundane businesses, which makes it even more interesting. Some of the reasons why you should consider entering the cannabis business either by starting a whole new business or working in a certain work position include:

It is a stable industry

Even after the spread of Covid-19, the cannabis industry is one of those industries that keeps going strong. This industry so stable is in its power to remain unaffected by the economic recession.

Unconventional work environment

Because this industry is a new one, there are still not a clear set of requirements for jobs or work structure. Employers will not expect you to have many years of experience; instead, the leader values reliability, flexibility, and commitment to the work.

Valuable experience

Even if you aren't planning to work forever in this industry, this could be a good step in opening many opportunities. For instance, working as a budtender can provide you with medical, retail experience as well as administrative.

How do you make your way into the cannabis industry?

If you want to invest in this industry and start a cannabis business from scratch, you need land, and real estate, where you can carry out its production. Well, it is harder than it sounds.

Owning a piece of land is not the task here; owning a piece of land that could help you get a license is. To have a license, you need to have land which is in the zone, which is safe, and where cannabis cultivation is allowed.

There are two ways to get a license for cultivating cannabis. One method to acquire a license is by leasing it, which could be expensive and could cost you a fortune. The other method is buying, which is becoming costlier day by day. Once you get a license, the road ahead is quite smooth.

It wouldn't take you long to make money and cover your investments in the property. This is regarding starting a cannabis business, but if you want to find a job in this industry, pay attention to these tips:

• Get to know how things work.
• Look over the job descriptions and pay scales
• Consider all of your possibilities and find the right fit
• You must have a spotless record
• Be Ready for Uncertainties

How to get started?

Before you get started, you must know the requirements of the industry. Banks cannot collect rents or even own cannabis real estate since it is illegal. One of the easiest ways to get started in this business is by lending your real estate properties for this purpose.

Before you start your business, it would be great to contact cannabis consulting firms that will inform you about the whole process, requirements, cannabis investing strategies, the importance of child-resistant custom cannabis packaging, and what to keep in mind.

Since banks are unavailable in this field, cannabis entrepreneurs seek private lenders who could give them land to grow their business. Finding tenants is the easiest thing in this business since there are many individuals and entrepreneurs who seek a lease to get started with their work.

To become a lender, you must make sure you have the support of a financial string guarantor, who will work to cover the costs of buying a new tenant or managing an operator against your contemporaries.

In general, there are six easy steps to follow to start establishing a marijuana business:

1. Determine the type of marijuana business you want to establish
2. Prepare a business plan
3. Register your company name and legal entity
4. Register your marijuana business and get the necessary licenses
5. Make a tax payment registration
6. Obtain financial assistance

The risk factor

A major risk that keeps haunting the investors of cannabis is the fact that the federal government and the state government both have different rules about cannabis. Despite marijuana's federal prohibition, most states in the United States, such as Alaska, Arizona, California, New Mexico, and New Jersey, to name a few, have legalized it for medicinal or adult use.

Since cultivating cannabis is still illegal as per federal laws, if things take an ugly turn, all your property might go to federal seizures due to a "Criminal offence". You heard that right; you'd be imposed with some charges and a lot of loss. However, the federal government rarely executes its powers to take over the cannabis industry.

A prime reason for this is that the federal government controls the money spent on cannabis law enforcement. Political risk is another factor that keeps haunting investors. You cannot afford to upset a political power and get your business destroyed.

Therefore, you must always look for a Green card rider if you're looking for someone who could be a tenant and operate the business. It should be noted that even though cannabis cultivation is illegal as per federal laws, you can always take steps to comply with these along with the local laws.

Conclusion

Cannabis is one of the most sought-after industries which faces a risk from the federal government since it is illegal in its rule book. However, one can comply with its rules by approaching it from a different angle. What makes cannabis a vital industry is that it helps you make money soon.

Also, it has some risks attached, which make it even more interesting. You could become a lender and rent your land to tenants who wish to become cannabis entrepreneurs. You must also look for a guarantor who helps you in covering the small and big extra costs.

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Recommended reading

If you enjoyed this post and have time to spare, why not check out these related posts and dive deeper down the rabbit hole that is the cannabis treatment.

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Tags: Cannabis, Weed, Marijuana, Guest Post