The WEED Business Idea You Should Totally Steal

[benhebert]

Legal marijuana is coming. It's no longer the dream of tie dyed hipping sitting around in the park. Some states will move faster than others, but overall it's on its way.

Now a lot of people are already making money by selling the supplies like vaporizers, grinders, etc. That's hyper competitive and stupid. Don't do it (or do and make a lot of money and prove me wrong).

What I want you to start thinking about is the next level. When marijuana is adopted by the masses, what trends will the industry follow that's already out there for related products?

If you don't listen to the TropicalMBA podcast you should start, but more so pay attention to the concept that they have labeled "rip, pivot, and jam".

It's basically business model hijacking done so well that you become the new market leader.

So what does this have to do with marijuana?

I'll tell you now and it's going to be huge... mulilevel marketing.

There are MLMs for everything on the planet: cookware, sex toys, vitamins, energy drinks, etc etc etc.

You know what there needs to be one for? Weed.

I'm not going to get into the details as you should be able to figure that out on your own, but I think there's a MASSIVE opportunity in this space. You can be the first to market with a multilevel marketing group that offers marijuana enthusiasts a way to make money off of their hobby and possibly even become rich.

Of course the downside is that you're attaching your entire life / personal brand to weed and if you run a shitty / fake MLM, well it probably won't work out well for you in the end.

However if you're a trusted market leader, you could be looking at serious revenues.

There's a lot of opportunity in the legal marijuana space that isn't specifically selling legal marijuana. Think about it and maybe start planning today.

 

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[Formless]

I'm sure I could make a killing, not sure if I could rip some poor bastards off and chalk it up to a lack of due diligence on their part.

 

[Genester]

Legal marijuana is coming. It's no longer the dream of tie dyed hipping sitting around in the park. Some states will move faster than others, but overall it's on its way.

Now a lot of people are already making money by selling the supplies like vaporizers, grinders, etc. That's hyper competitive and stupid. Don't do it (or do and make a lot of money and prove me wrong).

What I want you to start thinking about is the next level. When marijuana is adopted by the masses, what trends will the industry follow that's already out there for related products?

If you don't listen to the TropicalMBA podcast you should start, but more so pay attention to the concept that they have labeled "rip, pivot, and jam".

It's basically business model hijacking done so well that you become the new market leader.

So what does this have to do with marijuana?

I'll tell you now and it's going to be huge... mulilevel marketing.

There are MLMs for everything on the planet: cookware, sex toys, vitamins, energy drinks, etc etc etc.

You know what there needs to be one for? Weed.

I'm not going to get into the details as you should be able to figure that out on your own, but I think there's a MASSIVE opportunity in this space. You can be the first to market with a multilevel marketing group that offers marijuana enthusiasts a way to make money off of their hobby and possibly even become rich.

Of course the downside is that you're attaching your entire life / personal brand to weed and if you run a shitty / fake MLM, well it probably won't work out well for you in the end.

However if you're a trusted market leader, you could be looking at serious revenues.

There's a lot of opportunity in the legal marijuana space that isn't specifically selling legal marijuana. Think about it and maybe start planning today.

Yea I agree, there is a massive opportunity to do something along these lines. There's actually a bunch of Cannabis MLM companies popping up already I believe, I see posts for one on Craigslist all the time, never looked into it though. MLM's get such a bad rep but fact is new ones are started on a daily basis and they are extremely profitable, especially if you can really set yourself apart. The legalization of Marijuana is going to create many opportunities like this in the coming years, just gotta think outside the box and figure out a way to capitalize. Easier said than done huh?

 

[orangjul]

I've been thinking about how to capitalize on this as well. I live in CO and made my first visit to a recreational dispensary a couple weeks (accompanying a friend, I'm not much of a smoker myself). The thing that struck me is how shady the operation felt, even though it's legal here now.

I've been trying to think of a way to make the industry a little classier with a product or service. I don't remember the details, but a few years back I read about how one website changed the adult toy industry forever by marketing to professional, affluent women when previously all that existed were trashy, cheap websites that marketed to the same guys who buy male-oriented porn.

How can the same kind of change be made to the weed industry? Also wondering how to make it more mainstream/accepted....

 

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[parkerscott]

I've been thinking about how to capitalize on this as well. I live in CO and made my first visit to a recreational dispensary a couple weeks (accompanying a friend, I'm not much of a smoker myself). The thing that struck me is how shady the operation felt, even though it's legal here now.

I've been trying to think of a way to make the industry a little classier with a product or service. I don't remember the details, but a few years back I read about how one website changed the adult toy industry forever by marketing to professional, affluent women when previously all that existed were trashy, cheap websites that marketed to the same guys who buy male-oriented porn.

How can the same kind of change be made to the weed industry? Also wondering how to make it more mainstream/accepted....

Its in edibles. Smoking is going to be looked at as trashy for a long time. When I see someone using a vape pen or smoking on a cigarette i think its really trashy. You have anonymity with edibles. Nobody knows what is in whatever you eat.

I could probably think of a few ways to get into the marijuana industry, its just not something I want attached to my name.

 

[orangjul]

That's a really good point. I don't know anyone who smokes tobacco any more and whenever I go to a state where it's more popular (i.e. the South), it catches me off guard - it's gross and definitely has a stigma attached.

 

[orangjul]

The problem with edibles is preventing them from getting into kids' hands...there has to be a way to solve that problem, in a classy, cool way that's marketable. I need to read up on the regulations surrounding the issue.

 

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[parkerscott]

The problem with edibles is preventing them from getting into kids' hands...there has to be a way to solve that problem, in a classy, cool way that's marketable. I need to read up on the regulations surrounding the issue.

Whoever finds it is well on their way to the bank.

 

[Magik]

There will be a lot of risk running an MLM in the pot business, and tons of legal hurdles. However, there will be all kinds of opportunities in the pot space, let me give you an example. My dad knows a guy who gets liquid potassium for $1.60 per gallon, but he only sells it in 1000 gallon minimums to farmers (these aren't pot growers). The liquid K this guy gets has a low pH level, so it would need a neutral pH level to be sold to pot growers. What could be done is create a label and package it by the gallon. Retail would be $15-$20 per gallon. The entry-barriers are being able to find the supply at the right price and having the knowledge of knowing how to get the pH level to neutral and the go through with the packaging process. To scale, it would take some infrastructure, but you could score good margins. This is just an example (albeit incomplete) of one angle within this business to get your mind thinking.

Here are the opportunities in the space that I know of (I'm sure there's more): pos systems (retail), shelving (retail), security systems/services, transport services, lighting/lighting accessories, growing systems (hydroponic and aeroponic) nutrients (so many), filtration systems, self-controlled grow chambers, edibles (HUGE opportunities depending on what the regulation hurdles end up being), trays and pots, electrical services/equipment, consulting services, education services (school, classes), not to mention all the buildings and vehicles that will be leased and bought, specialized lawyers. The above is just the tip of the iceberg. Unforeseen needs will arise along the way for those who keep their eyes open, and many with very little competition. Do you see just how deep the rabbit hole goes?

 

[jon.a]

There will be a lot of risk running an MLM in the pot business, and tons of legal hurdles. However, there will be all kinds of opportunities in the pot space, let me give you an example. My dad knows a guy who gets liquid potassium for $1.60 per gallon, but he only sells it in 1000 gallon minimums to farmers (these aren't pot growers). The liquid K this guy gets has a low pH level, so it would need a neutral pH level to be sold to pot growers. What could be done is create a label and package it by the gallon. Retail would be $15-$20 per gallon. The entry-barriers are being able to find the supply at the right price and having the knowledge of knowing how to get the pH level to neutral and the go through with the packaging process. To scale, it would take some infrastructure, but you could score good margins. This is just an example (albeit incomplete) of one angle within this business to get your mind thinking.

Here are the opportunities in the space that I know of (I'm sure there's more): pos systems (retail), shelving (retail), security systems/services, transport services, lighting/lighting accessories, growing systems (hydroponic and aeroponic) nutrients (so many), filtration systems, self-controlled grow chambers, edibles (HUGE opportunities depending on what the regulation hurdles end up being), trays and pots, electrical services/equipment, consulting services, education services (school, classes), not to mention all the buildings and vehicles that will be leased and bought, specialized lawyers. The above is just the tip of the iceberg. Unforeseen needs will arise along the way for those who keep their eyes open, and many with very little competition. Do you see just how deep the rabbit hole goes?

Sounds like a Jack plan.

 

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[arfadugus]

Time to open snack vendors across the US

 

[vinisterz]

Its in edibles. Smoking is going to be looked at as trashy for a long time. When I see someone using a vape pen or smoking on a cigarette i think its really trashy. You have anonymity with edibles. Nobody knows what is in whatever you eat.

I could probably think of a few ways to get into the marijuana industry, its just not something I want attached to my name.

I really like the idea of edibles.

I used to smoke in my teenage years. would go for some canna cake pops when it becomes legal in CA.

 

[GuestUser201]

It's kinda funny, selling illegal drugs is almost like an MLM.

You have the supplier at the top, and you have usually a string of dealers that sell to other dealers, who sell to other dealers, who sell to runners, who sell to the users.

When I think of dispensaries based on what I've seen in videos and documentaries, most places look unprofessional, trashy, and sketchy.
I think that if someone were to create a classy, professional looking place that sold weed I think it'd take off because it'd appeal to the masses rather than just your average hippie stoner.

I HATE MLM, it's sleazy. Sure it makes money but there are more professional ways of doing things. If I had a choice between creating a genuine business vs one that is just out to make money in a scammy way, I'd create the genuine one. I wouldn't feel right running an MLM.

 

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[DaRK9]

It's kinda funny, selling illegal drugs is almost like an MLM.

You have the supplier at the top, and you have usually a string of dealers that sell to other dealers, who sell to other dealers, who sell to runners, who sell to the users.

When I think of dispensaries based on what I've seen in videos and documentaries, most places look unprofessional, trashy, and sketchy.
I think that if someone were to create a classy, professional looking place that sold weed I think it'd take off because it'd appeal to the masses rather than just your average hippie stoner.

I HATE MLM, it's sleazy. Sure it makes money but there are more professional ways of doing things. If I had a choice between creating a genuine business vs one that is just out to make money in a scammy way, I'd create the genuine one. I wouldn't feel right running an MLM.

I've thought about that too. The grey legal area turns people away from making huge B&M investments I think.

 

[PopEmersen]

There is a hemp MLM...its called kannaway i think.

 

[Deleted17784]

I don't know anything about MLM but I agree that as the laws relax on Cannabis more people are going to rake in the dough. States too.

I heard a dispensary just opened in my hometown back in the US. That's wild...

I think a grow operation that supplies the dispensaries would be the way to go.

In my home state if you want to apply for a commercial grower permit the application fee is $30,000... Just to apply. Crazy!

 

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[mikekob]

As a colorado resident I have seen a few trends. My partner and I have discussed opening a dispensary when we have the income to support it right by the airport.

If I had the money to invest I would open a restaurant that features high end dishes with cannabutter, oil, and hash all cooked into the foods. I sure as hell would eat there.

 

[Deleted17784]

As a colorado resident I have seen a few trends. My partner and I have discussed opening a dispensary when we have the income to support it right by the airport.

If I had the money to invest I would open a restaurant that features high end dishes with cannabutter, oil, and hash all cooked into the foods. I sure as hell would eat there.

Hmm how about weed tourism? I'm sure smokers would flock to wherever it's decriminalized to smoke, eat and relax in a stoner friendly environment. I know Amsterdam is famous because of it.

 

[DaRK9]

Hmm how about weed tourism? I'm sure smokers would flock to wherever it's decriminalized to smoke, eat and relax in a stoner friendly environment. I know Amsterdam is famous because of it.

They have this and I think its genius. You can rent out a limo and they give you weed while they drive you to different spots around CO. Either in city or not.

 

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[mikekob]

I want a dispensary/smoking lounge with a tunnel that goes underground to a strip club across the stress. Have the place picked out right next to DIA. Now I just need a few permits, growers, strippers, and a million dollars. Boom. Millions in my bank account.

 

[Deleted17784]

They have this and I think its genius. You can rent out a limo and they give you weed while they drive you to different spots around CO. Either in city or not.

Simply brilliant. Maybe visit some grow houses for some pics. I bet stoners would love that.

Or maybe a cannabis growing school... How about an Ebook or online course?

So many ways to monetize this beyond selling the actual product.

 

[DaRK9]

Simply brilliant. Maybe visit some grow houses for some pics. I bet stoners would love that.

Or maybe a cannabis growing school... How about an Ebook or online course?

So many ways to monetize this beyond selling the actual product.

Yeah selling the actual product has too much legal grey areas for my liking. People are still getting dinged with federal tax stuff because you can't put x weed sold this year on a federal tax form. Lol. They have a few video courses out but I'm thinking SaaS to dispensaries would be the best.


Sent from my iPhone using Tapatalk

 

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[mikekob]

I like this thread. Maybe we can utilize this to think out a solution for a business that fits the fastlane mold. There's definitely a massive amount of untapped potential.

I'm not sure how official the study was but I've heard the industry here has been huge for tourists. Me personally will not pay the price for such small amounts and will continue to go underground for my supply. Tourists on the other hand are more than happy to buy the overinflated and taxed price.

On a side note I think it's hilarious and speaks volumes of politicians that we spent millions on the "war on drugs", and now were making millions on taxes from marijuana. Such irony.

 

[JustKris]

I really like the idea of edibles.

I used to smoke in my teenage years. would go for some canna cake pops when it becomes legal in CA.

For all practical purposes, weed is legal in California. There are tons of dispensaries (that sell edibles) all over the state. You just need to get a medical marijuana card, which are almost always granted.

Like for, um...back pain. Or insomnia. Or whatever.

Incidentally, any B2B sales would be great. Branded packaging would be a good one. Most of the places my, um, friends go to have pretty generic looking pill bottles or baggies.

And, of course, franchising. Who wouldn't want to be the Papa John's (or whatever brand you like) of marijuana?

 

[V8Bill]

It's kinda funny, selling illegal drugs is almost like an MLM.

You have the supplier at the top, and you have usually a string of dealers that sell to other dealers, who sell to other dealers, who sell to runners, who sell to the users.

When I think of dispensaries based on what I've seen in videos and documentaries, most places look unprofessional, trashy, and sketchy.
I think that if someone were to create a classy, professional looking place that sold weed I think it'd take off because it'd appeal to the masses rather than just your average hippie stoner.

I HATE MLM, it's sleazy. Sure it makes money but there are more professional ways of doing things. If I had a choice between creating a genuine business vs one that is just out to make money in a scammy way, I'd create the genuine one. I wouldn't feel right running an MLM.

It sounds like you're confusing a pyramid scheme (illegal) with MLM. Two separate animals.

 

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[Mineralogic]

It sounds like you're confusing a pyramid scheme (illegal) with MLM. Two separate animals.

Do not forget it really is true that corporate amercia is the most popular pyramid scheme of all time, with the king priests at the top and the working slaves at the bottom

All institutions with hierarchy use the pyramid to divy responsibility and labor and money

 

[StartupsRFun]

Montel Williams got sick of buying weed from sketchy dispensaries, so he created this place:

 

[V8Bill]

Montel Williams got sick of buying weed from sketchy dispensaries, so he created this place.

Good on him but (according to that clip and it's misleading reporting) he didn't create it, he doesn't own it he just "opened" it (cut the ribbon?) but they were pretty happy to promote the story as him "owning" it. Sweet and sour. Good move but you've got to sigh at the news room.

 

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