A marijuana professional predicts top five new business opportunities in the marijuana industry. This post from Forbes turns the spot light on Anthony Franciosi, an organic cannabis farmer, and his predictions about the new entrepreneurial opportunities in legal cannabis.
Anthony Franciosi now 26, has grown from 14-year-old pot smoker to professional cannabis farmer and outspoken advocate for organic crops and sustainable production practices. The 7000 sq. ft marijuana grow space he is creating outside of Steamboat Springs Colorado aims to use the latest technology in lighting, water use and waste management to minimize resource use while growing organic cannabis.
His company, HonestMarijuana.com, expects to produce 900-1200 pounds of marijuana in 8-10 strains in 2016, employing 8-10 people depending on the season. As an early entrepreneur in the growing Colorado market for legal marijuana, he’s watched the industry develop.
Here’s where Franciosi sees opportunities for new entrepreneurial ventures in legal cannabis.
High quality genetics are hard to come by (legally) for cultivators. Companies in the position to create unique strains for the legal side of this industry could have a strong influence in the market.
Each cultivator and product manufacturer has to do comprehensive testing for residual contaminants and currently, results can vary. Reliable, high quality test results are in high demand and folks in the industry are seeking out labs who can meet their needs.
Companies are turning to packaging to help stand out as more and more competition enters the market. The regulations for cannabis packaging are strict and there are few available options. Distinct packaging that meets all legal requirements is in high demand.
Cannabis industry lawyers have many hoops and hurdles to jump through and over. Having the right legal team behind you can help tremendously in the cannabis industry. Cannabis-friendly lawyers are being sought out for everything from license acquisition to deal structuring for the opening of new opportunities.
With the concentrate side of the cannabis industry booming, marijuana professionals are seeking out people and equipment with lab science backgrounds to aid in the production of concentrates.