Five Ways Smart People Are Making Money in the Pot Industry
The cannabis market is, um, blazing up.
Domestic sales were expected to hit $10 billion in 2017. And now that California has (finally) legalized weed, those sales numbers will only grow more eye-popping.
In this multibillion-dollar market, you might be asking yourself how you can make some green off this rush. Instead of getting high off your own supply like Tokemon above, why not check out these money-making tips?
Become a Grow Master
Being a grow master is one of the most important (and lucrative) professions in the marijuana industry. Commanding upwards of $100,000 annually and a percentage of the profit, grow masters are responsible for leading an entire pot growing operation.
Analysts have said they expect the job to be in “high demand” (get it?) because of its specific skill set. Don’t be surprised if this profession shapes up with celebrity cultivators like celebrity chefs.
Grow masters typically have a degree in botany, and are also certified online, via courses like this one from GreenCultured.com.
Become an Edibles Chef
Speaking of celebrity chefs, trying your hand as an edibles creator — a person who legally crafts marijuana-infused food and drinks — can really pay off… if you’re qualified.
While salaries for the position vary depending on location, an edibles chef typically has years of experience in the culinary arts.
One of the most famous edibles chefs is Chris Sayegh. The Los Angeles-based cook offers cannabis-infused fine dining that ranges from $200 to $500 a person.
Consulting has always been a high-paying career, and that’s no different in the pot industry.
With the laws surrounding legal marijuana becoming increasingly convoluted, cannabis consultants have become integral because of their expertise in weed-related regulations.
A good consulting company offers help on licensing, design, construction and cultivation. If you’ve got any experience in any of those arenas already, then you’re at a bigger advantage than most. If you’re a lawyer, even better: Consultants are often lawyers or business owners who share successful experience with people seeking help getting started.
Think you have what it takes? These companies have job boards, you know. Head to Weedhire.com and see what’s in your area.
Become a Cannabis Extraction Technician
This might sound like a super fancy job, and that’s because it really is.
Earning up to $125,000 annually, a Cannabis Extraction Technician safely separates the oily, cannabinoid-rich trichomes (hair) from marijuana flowers.
The position requires extensive experience in organic chemistry, specifically in using hydrocarbon solvents. Some companies require their techs to have years of direct experience in the cannabis extraction business, while others are looking for Ph.D.’s as a necessary qualification. Want more info? Start with CannaRecruiter.com.
Start a Marijuana-Related Business
Why not create your own job? That’s what many people — from stoners to non-tokers — are doing in states where marijuana is now legal.
Take Colorado native Joel Schneider, for example. After thirty years as a Wall Street lawyer, Schneider opened “Bud and Breakfast,” a pot-friendly hotel that has housed celebrity guests from musicians to athletes.
Schneider, who has expanded to three hotels, averages $110,000 a month in revenue, per CNBC. In 2016, Schneider estimated that his company made $1.2 million. And he’s not stopping there. Schneider is planning on expanding to California in the near future.
If you’re looking to make a career change and want to hitch a ride on the marijuana bandwagon, then check out these weed-related professions. If all else fails, maybe you could even become a marijuana tester!
Originally published at www.financerepublic.com.
