Business Options in Legal Weed

In January 2015, cannabis became legal for medicinal use or decriminalized in 27 states and Washington D.C.  Colorado allows legal recreational weed sales with Alaska and Oregon joining Colorado in 2016.  Twenty-three other states prohibit marijuana use entirely.

Under the Federal Controlled Substances Act – passed in 1970 – it has been illegal to manufacture, distribute or possess marijuana in the United States.  However, in 2013, the United States Justice Department indicated it would not challenge Colorado or other states on laws legalizing cannabis.

These patchwork laws have created confusion and consternation for casual users but also create numerous business opportunities for interested entrepreneurs.

This post is not an opinion on the merits of legalizing marijuana, weed, pot, Mary Jane, cannabis, 420 or any other term used.  As a small business blog, Homepreneurs posts options and ideas, not editorials.

If so inclined, one can do the obvious – grow pot plants at home or in an approved location.

There are other options:

– Software and applications – mobile apps are popular for any transactional business, cannabis or not.  Write and sell one that is customized for pot growers and distributors.

– Consulting – many industries use consultants to get started and cannabis is no exception.  Do you know the rules and regulations?  The ins and outs of growing and distributing?  Risk management and insurance plans?  If the answer is no, hire a consultant.  If you know all answers, become a consultant.

– Real estate – pot needs to grow somewhere, be stored securely, and be sold in retail stores.  Each needs real estate expertise and potentially, knowledge of local zoning laws.

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– Security – like any cash-flush business, marijuana and its proceeds are at risk of theft.  Start up a security company to guard the goods.

– Tourism – much like medical tourism, cannabis tourism is taking off.  Other than a great state to visit, Colorado with its liberal weed laws, attracts many visits just for its cannabis-friendly environment.

There are other options: cannabis-infused products, restaurants and cafes, baked goods, pot-friendly bed and breakfasts, and many more.

According to Forbes, legal pot will be worth $8 BILLION dollars by 2018.  Wrap your stoned brain around that figure and get started!

9 Suggestions for Side Jobs

Suggestions for making money on the side by Rizwan Aseem as found on Quora.com.  Content is largely as presented in the original post with edits for grammar and clarity.

 

  1. Go knock on your neighbors’ doors and ask them if you can mow their lawn / clean their snow for $10 – repeat each week
  2. Find all the things in your house or garage that you don’t use – then sell them on ebay.

  3. Talk to your neighbors and offer to clean their garage – when you`re doing it, find stuff that`s old and dusty and ask them if you can fix the items or sell it for them on ebay, for a percentage of profit, of course.

  4. Talk to the restaurants and small businesses in town and ask them if they`d like to have a social media presence. Create a FB page, Twitter, and Wikipedia profile for them and charge them $100 per location (or appropriate cost) to maintain the sites.


5. Find 5 kids in school who are struggling to get good grades and ask if you can tutor them. Set up a group after school and charge them (or parents) for the service. You may need to have specific qualifications or certifications to do this – check with your local governments.

6. Contact the local newspapers in your town and ask them if they want a column on `The Havoc Social Media Creates In The Everyday Life Of A Teenager’. Then talk to kids in school and ask then about social media – what they love or hate. *Social media does not need to be basis of the column – this is only one suggestion.*

7. Create a profile on ODesk or Elance and find things you can do. Start with your hourly rate at $5-$10 per hour and then raise the price as you build a reputation.

8. Learn to use WordPress or Blogger from YouTube. Offer your services to existing bloggers or to people/organizations. Charge a reasonable hourly rate and build clientele.

9. Have a conversation with kids in high school / college. Ask them about the biggest problem / frustration they have in life and the ideal outcome for them. Write a 30 page eBook about the problem/solution. Publish this book on Amazon or Smashwords, changing names to protect people.

Source: http://www.quora.com/How-can-I-make-a-little-extra-cash-at-home

Home Business Idea – Sell Used Books

eBooks and eReader sales are still soaring, continuing a several year trend. Are printed books dead? Not so, according to an article in Huffington Post. The story states that both paperbacks and hardcover books outsold eBooks in the first half of 2014.

This post does not analyze sales trends of eBooks, but shows that one can make  money from printed books.

Start a business, full or part-time, with used book sales. Sell old paperbacks and hardcover books or textbooks for cash to sites like Amazon, eBay, Half.com or AbeBooks. This is also a good choice for someone looking to make some money fairly quickly with moderate effort. It is also a great home business.

What you need

Inventory. Other than books you own, buy books at garage sales and estate sales. Buy them at Goodwill stores or in wholesale lots at liquidating stores.

Storage. Books sell better and for more if in good condition. After buying 100 books from that estate sale, where will you store them? Garage? Extra bedroom? Storage locker? Renting a storage locker is an extra cost to the bottom line.

Tracking. When someone wants a copy of “Hitchhikers Guide to the Galaxy”, be able to locate it asap. Label shelves logically and use a desktop database like Microsoft Access to track what is bought, where the product is stored, and where and when it was sold.

Financial sense. If at a garage sale, be able to do quick math and calculate a selling cost before you buy. Realize that PayPal will charge a transaction fee for many sales. The fees eat into profits quickly and so do shipping costs.

Shipping. Media mail at the post office is your friend. Media Mail is a lower cost shipping rate offered by the USPS, provided nothing else is in the package. You will have only a couple days to ship the purchase, but every day or several times per day trips to the post office costs gas. Plan on a Mon, Wed, Fri shipping schedule and take multiple orders to the post office. Package the books so they won’t get damaged in shipping.

Ratings. When your product is purchased, buyers can often leave a rating of your product and shipping time. Reviews can make or break your business. Be smart about shipping and follow-through on what you promise.

Updates. Books sales like any other product, changes quickly. Follow trends in the business by following blogs like Sell Books Blog. There are several websites – Powell’s Books is one – that will give you a price from an ISBN and pay for shipping if the order exceeds $50.

For antique or collectible books, check out the Antiquarian Booksellers’ Association of America (ABAA).

 

 

Book Racks

ABCs of Small Business SEO

Homepreneurs recently posted about tips for domain names.  If thinking about a start-up business, websites and domains are a must.

Visits to the website are also a must.  “Build it and they will come” may work for baseball in “Field of Dreams”, but not for websites.

Enter SEO or search engine optimization.  SEO is simply the process of optimizing a website so it is found by search engines.

Many companies say they provide SEO services – for a price.  But follow some simple ABCs, and do your own SEO work.

Plato Web Design provides a 5 minute guide for maximizing a website’s SEO.

 

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