Looking to Cash in on the Marijuana Boom? 5 Business Ideas

The Wild West of weed is on fire with entrepreneurial opportunities. Potpreneurs across America are legally growing, curing and cooking the skunky stuff in record numbers. As those who cultivate and sell the plant grow, so do the offshoot business sprouting up around them. Kristopher Fowlkes, founder and CEO of Pinnacle Consultation, a Colorado Springs, Colo.-based consulting firm that helps marijuana farmers streamline and increase yields, says ancillary cannabis startups are popping up across America mainly for two reasons.

One, they’re generally less risky than growing and distributing pot from a legal standpoint. And, two, traditional business, such as banks, still don’t want to touch those who directly touch the controversial plant. After all, pot’s stigma, like its stink, is strong and hard to get rid of, though forward strides are being made every day.

5 Tips for Breaking Into the ‘Budding’ Marijuana Industry “Small-business people are swooping in where the big guys won’t,” Fowlkes tells Entrepreneur. “They’re coming up with anything and everything at this point, even taking out grow-house garbage to get in on the trend. It’s wild the type of entrepreneurship that the cannabis industry has created, and we’re only just scratching the surface.”

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