In 2018, the US government legalized the extraction and sale of CBD, thus setting the stage for a new multi-billion economy.
If you are looking to start a CBD business, your option isn’t just stocking up the shelves and throwing the doors open.
The CBD market is large enough to allow for versatile business ideas.
Maybe you recognize the market potential for CBD but cannot seem to come up with a viable business idea. Check out these 60 profitable ideas.
People in the cannabis industry will tell you this: the financial institutions are not sold on yet, and the investors hesitate to put their money in cannabis ventures. You can provide alternative capital by leveraging crowdfunding platforms and getting your cut.
2. Jobs agency
The hemp industry creates tens of thousands of jobs every year. As more cannabis businesses come up, there’ll inevitably be more opportunities. You can create a job agency that connects businesses with top talent around the world.
Cooperatives cater to member needs. You can lobby several businesses to join your organization so that you look after them. This requires that you have a wide network and solid leadership skills.
4. Subscription box service
Subscription boxes are very successful in the beauty and cosmetics industry. You may want to replicate their business model, where you ship packages of CBD products to your customers at the start of each month. To stay ahead, don’t be predictable.
5. Virtual assistant
Operating an online cannabis business is usually overwhelming. The orders are buzzing in, email notifications are pinging by the minute, and you have to keep it together. You can become a virtual assistant to ease up the workload of budtenders and managers.
6. Hemp plant supplier
With all these CBD businesses coming up, it can only mean one thing: there’s a demand in the raw material, the hemp plant. You can take up the role of supplying companies with the hemp plant at discounted prices.
7. Start a research firm
So far, we know that CBD has numerous therapeutic benefits, including pain and anxiety relief, but the research on cannabis is basic, and there’s potentially a world of undiscovered benefits. You can start a research firm to put these matters to rest.
8. CBD podcast
Many CBD enthusiasts are looking to be part of a community where CBD issues are discussed. If you create a podcast, you would attract the listenership of such individuals. Ensure that you put on great people.
Do you have an adventurous mind and are good at capturing moments? You can start a CBD-themed YouTube channel. But remember that successful YouTube channels require hard work especially now that the place is sort of crowded.
10. Extraction business
Top CBD companies have machines for extracting CBD from industrial hemp, but some companies with limited resources may not have such infrastructure. So, you can start an extraction business, and have such companies contract your services.
11. Tours firm
Did you know that in states where cannabis is legal there’s such a thing as cannabis tourism? Yep, people hop on a plane and travel just to enjoy cannabis. You can capitalize on that by starting a tours firm that takes them to attraction sites, and also dispensaries and farms.
12. Product tester
Are you familiar with Marques Brownlee? That dude on YouTube who reviews tech gadgets? Yep, you can also start testing and reviewing CBD products, but doing so in an honest way so that you build a name for yourself.
13. Lodging facility
You may also start a lodging facility where CBD is central. It can be a B&B or Airbnb where you offer CBD-infused meals. You have to market your venture aggressively to ensure that you always have CBD-positive guests.
14. Create an app
You can create an App that enables users to e.g. place and track orders, access the latest CBD news, or check for discounts. But once your App becomes successful ensure that you bring fresh ideas so that you don’t lose fans to competition.
15. Accounting firm
Cannabis companies are making bank right now. They need someone to look at their accounts and ensure that everything is all right. You can start an accounting firm that caters to CBD businesses.
Most people that want to start a CBD business, a dispensary is what they have in mind. Before you set up your business, scout for a location with many CBD enthusiasts, and have an online presence to increase sales.
17. CBD restaurant
You can also start a restaurant where you serve CBD infused meals. Perform your research before you open the restaurant to ensure that there are enough people in that location who are interested in CBD meals.
18. Legal consultant
The government seems to want to frustrate cannabis businesses, but thankfully that attitude is slowly eroding. Still, many business owners go through hell before they get licensed to operate cannabis dispensaries. Legal consultation is always in high demand.
19. Organize events
If events’ organizing is your thing, you can throw weekly or monthly CBD-themed parties, where CBD enthusiasts let themselves go. You have to have a sharp business mind and be creative to increase the profit margins.
20. Dispensary security firm
The products in dispensary firms are worth a lot. Vandals and thugs commonly target dispensary firms. You can start a security firm for cannabis businesses.
21. Write cookbooks
Considering that CBD meals are becoming popular, people want to know what kind of recipes they can whip up. Write a cookbook to show them the various ways to prepare delicious CBD meals.
22. CBD Lab
Most people only buy 3rd part lab-tested CBD products. These products have been verified that they contain non-hazardous substances and they are manufactured in GMP-certified facilities. You can start a lab that performs this duty.
23. Network marketing
You can also create a system where marketers get to earn from the people they sign up. Networking marketing has a bad reputation, so please don’t scam people.
24. Health consultant
CBD is effective in managing various conditions including PTSD, anxiety, pain, and depression. You can help people understand how CBD can help them overcome their health problems. As a health consultant, you need to constantly scan for new information.
25. Pet CBD products
Cannabidiol doesn’t have therapeutic benefits in humans only; it works in pets too. You can start a business that offers pet CBD products.
26. Repair business
Machine failure can severely impact the production process. And so, you can set up a repair shop that caters to extraction machines, helping CBD businesses recover quickly from machine failures.
27. Homemade edibles
You need very little funds to get started. If you are skilled in whipping up CBD edibles, just prepare them at home, set up a Facebook page to receive orders, and have someone make deliveries.
28. Ancillary shop
The CBD market is vast and it utilizes different services and products. You can create an ancillary shop that offers complementary products like grow lights, locks, artwork, frames, packaging items, etc.
29. Social media network
People in the cannabis field are always talking about having their own social media network. It would be a nice move to establish a CBD social media network. The initial cost might be high but there are enough users around the world to make it super-profitable.
Do you have a wide network in the cannabis market? Put it to use by making deals happen. You get a cut for every successful deal you make possible.
31. Grow facility
You can start a grow facility and sell the hemp plants to manufacturing firms. Whether you get into indoor or outdoor growing can depend on budget and environment.
32. Business consultant
Many people want to take advantage of the CBD boom but cannot seem to decide how to go about it. If you have a sharp business mind, you can help them make the best decision after judging their financial capabilities and goals.
33. Radio and TV
How about you start a media company and create programming for CBD audiences and gather CBD news? Once you have enough viewers and listeners, you would make good money.
34. Affiliate marketer
The companies know they are not present everywhere, and using affiliate marketers, they can increase sales. Contact these companies and ask whether they have affiliate marketing programs so that you make money on referral conversions.
35. Create a website
You can also create a CBD business and publish exclusive information. Once your website receives steady traffic, you can monetize it with ads, affiliate links, or sponsored posts.
36. Incubator for indoor growing
This equipment facilitates indoor cannabis growing. You can help people grow hemp plants in an indoor setting by supplying this incubator.
37. Social media marketer
Thankfully, social media has stopped the hostility toward cannabis businesses. You can promote cannabis products on Facebook and Twitter to boost your revenue.
38. CBD packaging
Companies understand that buyers can judge them by the packaging of their products. And so, you can create superior packaging materials and pitch them to these companies.
39. Cleaning business
Cleaning businesses in America rake in a lot of money. You can start a business that performs daily or weekly cleaning in both dispensaries and grow facilities.
40. PR firm
There’s a lot of mudslinging going on between these companies. And they are looking for someone to help them save face. A PR agency would manage the reputation of CBD companies and also increase brand awareness.
41. Construction firm
If you thought hemp is only good for CBD, think again. The hemp plant can also be used to create high-performance concrete for building quality facilities.
42. Delivery business
All these online businesses burdened with orders are looking for someone to make quick deliveries. Ensure that you have a great team so that customers give you high ratings and help you stay in business.
43. e-Book writer
Do you have a unique perspective on CBD? Are you a veteran grower and want to share your success hacks? You can write an e-Book and sell it online. There are many people out there who are looking to gather as much information as they can about CBD.
If you don’t have the funds to start a dispensary doesn’t mean you cannot sell CBD products. You only need to get into drop-shipping, where your work is only signing up customers, and the supplier does the heavy lifting.
People are attracted to the artwork that resonates with their experiences. For instance, if someone got through their health problem with CBD, they may have developed a strong liking toward it, and so they be willing to buy CBD artwork.
46. Customization business
You can also start a business that customizes or engraves CBD themes into objects.
47. CBD apparel
Enthusiasts would happily buy CBD apparel, whether it be having amazing quotes from industry leaders or captions of CBD benefits.
48. Start a franchise
If the capital allows, go ahead and launch a CBD franchise across the country. It promotes brand awareness and sets the stage for global dominance.
Are you good at taking them photos? Pitch companies to attend their CBD events to take high-quality photos.
Start a business that sells CBD accessories like cartridges, dab rigs, batteries, and cleaning supplies.
51. CBD beauty parlor
CBD cosmetics have numerous skin and health benefits, and so you may start a beauty parlor that only uses such cosmetics.
52. Content writer
Content writers help online businesses stand out in search engines and increase conversions. There’s a growing demand for content writers considering that new cannabis businesses are coming up.
If you are loaded, you can invest your money in upcoming CBD businesses. There’s a high likelihood of success because the number of consumers is increasing and the government is slowly stopping the restrictions.
54. Create a course
Yep, create a course that enlightens people on CBD, and make it deep so that every subject is covered, and students won’t feel cheated.
55. Become an influencer
If you have a following on social media, you can monetize it by propping up CBD products that you believe in.
56. CBD bar
Are you a good mixologist? Open a bar and serve infused drinks.
57. CBD topicals
You can create CBD topicals at home and sell them to people with skin disorders.
58. Licensed distributor
Get licensed to distribute company products. You can use emails and social media to streamline communication and make your work easier.
If you are passionate about the industry, look for a job as a manager in a CBD company.
60. Food truck
This is super profitable when you have access to events where customers are interested in CBD infused meals.
Business opportunities in the CBD industry are practically inexhaustible, but whatever you decide to start, be smart with it and put in the work.