The cannabis industry is riding the crest of a ‘green wave’.
According to a recent article in Forbes Magazine, the industry is booming as more and more states in the USA and countries internationally legalize the sale and consumption of the iconic green plant. CBD, which is a non-psychoactive substance derived from the hemp plant, is also seeing a massive rise in users. Many companies market CBD as a therapeutic substance for the easing of anxiety, joint pain and other long-term ailments.
How, you might ask, do people actually make their fortune in this emerging industry? There is no one answer to this question. The commercial cannabis industry is far more diverse than you might think it is. Here are some of the most profitable avenues that people pursue in the legal cannabis industry.
Cannabis is a plant, and growing it is the work of agriculturalists. Cannabis farming is a technically advanced agricultural industry. The properties of cannabis plants are very sensitive to environmental changes. Light, heat and soil acidity are all closely monitored by farmers. If everything goes to plan though, farmers can earn huge amounts of money. A field of hemp or cannabis plants can generate many times more income than a wheat field or grazing land.
Breeding and Genetics
Cannabis breeders and genetic engineers are paid large sums to deliver new kinds of cannabis that contains high or low concentrations of different cannabinoid chemicals. Different levels of these chemicals are desirable depending on whether the intention is to produce CBD, hemp materials or recreational marijuana. Botanists will often work as part of a larger scientific team in order to create more profitable plants for an investor.
Refinement and Extraction
The job of separating the cannabinoid chemicals from the plant is known as extraction or refinement, depending on the process. Hemp extraction equipment can be expensive and complex – hydrocarbon vacuum pumps, winterization equipment and vacuum ovens are all used to kinetically and chemically refine and extract the useful elements from plants.
Start-Ups and Unique Products
Entrepreneurs of all statures have been drawn into the green industry. Thousands of small start-ups offer unique cannabis products. Tinctures, oils, vaporizer liquid, edibles, drinks – pretty much any way you can think of absorbing cannabis has been marketed. Plucky marketeers often focus on bringing new demographics into the world of cannabis. Surprisingly, seniors are the fastest-growing users of recreational marijuana.
Cannabis is extremely big business. It isn’t just small-time entrepreneurs who are seeking to make their money from the spiky little plant. Banks, investment funds and major corporations have all thrown absolutely massive wads of cash into the industry. Some of the biggest investors are venture capital firms, who pile unbelievable sums of money into growing and marketing operations.
Because cannabis is a relatively efficient cash crop, large investors see the industry as a low-risk way of storing and multiplying assets. It is becoming just like any other commodity in their eyes.