Other Cannabis Business Types
Connecting to the Cannabis Ecosystem
Growing, manufacturing, and selling are by no means the only ways to get involved in cannabis. In a complex ecosystem like the cannabis industry, there are myriad opportunities to find your niche outside of the immediate supply chain.
In some states, distribution and delivery services are viable independent businesses. Testing labs are in high demand, due to increasing regulation levels. Outside of plant-touching businesses, the industry has spawned enormous ancillary needs, such as security, insurance, lighting and HVAC equipment, inventory and point-of-sale software, and packaging.
Serving the cannabis industry requires understanding your strengths and how they can be uniquely applied to the needs of cannabis operators. You’ll also need to build strong networks and relationships within the still insular cannabis business community.
Our position at the center of cannabis licensing makes us an invaluable strategic connector. Canna Advisors can help you identify the ideal match between your business competencies and the demands of the industry. Contact us to learn more about our strategic partner program and our ability to open doors for your business.
Same Industry, Fewer Limits
For many entrepreneurs, launching an ancillary business is an opportunity to tap into the growth potential of the cannabis industry without putting on the handcuffs of state-by-state licensing and regulation.
Ancillary businesses like equipment manufacturing, software development, and professional services don’t require licenses and can much more easily scale to multiple states. In some cases, ancillary businesses can also serve industries beyond cannabis. For example, equipment developed for cannabis cultivation can be valuable to other horticultural industries as well.
This flexibility can make ancillary businesses less risky and quicker to pay off than those in the immediate cannabis supply chain.
Next Move When You Don’t Win a License
As in all industries, succeeding in the cannabis industry means identifying your unique strengths and abilities and offering them to customers in a better way than your competitors. Often, entrepreneurs in the cannabis space start out with an eye on winning state licenses and building a direct-to-plant business.
But what if, despite your best efforts, you don’t win the licenses you need?
Not winning a license certainly doesn’t mean your cannabis dream is dead. It does mean it’s time to re-evaluate with a different perspective. Look for a niche that matches your true passions and talents with gaps of unmet needs in the industry.
The Canna Advisors team can offer a holistic perspective on the industry as you explore alternate paths. With our nationwide experience and an extensive network of licensed business clients, we know better than anyone about the industry’s gaps and problems that need solutions.
When you do land on that niche idea or solution, we’ll help you develop the details, evaluate any regulatory hurdles, and connect you to businesses in need.
Less Risk and Quicker Payoff
Take advantage of opportunities outside of the immediate supply chain