With the legalization of cannabis, the market for this product has grown exponentially. From recreational usage to medicinal purposes there are many markets in which to promote cannabis successfully. The quality of the product makes a huge difference in how well it will sell. Beginners in the field of production, need to obtain accurate marketing Knowledge and some type of plan and process before proceeding. As cannabis thrives wildly in the correct environments there will always be “do and don’ts” involved with growing, retailing, manufacturing, and marketing cannabis.
The growth and marketing of cannabis must be approached professionally!
Cannabis is a business and a traditional approach to any start up business must be in place. First off, like any good business a dispensary business plan is needed. A business plan is a “map” in which a business owner knows which path to follow at every step of the business. From the money invested to the timeframe in which a ROI (Return on Investment) is seen should be spelled out explicitly. No business makes money without some initial investment and the size of the investment does matter in how quickly a business will flourish. Cannabis is a living product, and a business owner can purchase an agricultural cannabis business that is already flourishing or can start from scratch with their own farm.
Nonetheless a plot of land or agricultural facility is needed
Size and type, as well as if it is already being farmed for cannabis will determine the initial costs. There are farmers in all countries that produce other crops that will many times take a rental payment on existing land and even farm the cannabis for someone who is looking to get into this business. The business plan should proceed from the starting point of initial investment and proceed with a month-to-month breakdown of expenses and possible revenue. Expenses should be monitored carefully. If the expenses become overwhelming, like any other business, the business will sink.
Knowledge on the growing of cannabis is as necessary as business knowledge.
No one can produce or sell anything, especially an agricultural product, without a knowledge base. It is common knowledge among seasoned marijuana producers that when starting out, it is best to start with a few types of plants and grow in a small plot or even indoors. See what grows and what does not, almost all cannabis producers will admit they “lost” a plant or two in the beginning of the journey. The small loss is better than losing a whole crop of wrongfully chosen types of marijuana. Fresh air is always needed and light, like with any plant, even if it is artificial light. Like all plants, contaminants such as bugs MUST be kept out. Therefore, the equipment and the chosen location to grow marijuana needs to be taken into careful consideration.
Research types of cannabis and the growth requirements of each type.
Although there are over 1000 varieties of cannabis that can be found, there are three main recognized strains, Cannabis Sativa, Cannabis Indica, and Cannabis Ruderalis. Cannabis has a certain amount of nutrients and mineral compounds needed for optimal health and each strain can vary in the amount of each nutrient and compound. It is imperative to know the type of variety that is being grown and what is necessary for the growth. The importance of this cannot be stressed enough and the research into varieties needed before even considering this type of business or failure after failure will occur. Taking the time to research into the methodologies and varieties and constructing a business plan will go a long way towards success!