It is ON. With recent developments in the news, legal recreational cannabis in Illinois is well on its way. January 1, 2020. The job market is going to go through the roof, and business opportunities are going to explode. All kinds of new trends will in turn emerge, ranging from actually working with the plant to professional services. And you know what? Some of the best opportunities out there won’t be what you think, they won’t be the obvious ones. After all, you can even do a 4th of July cannabis trip, now. Want to know the best cannabis business opportunities in Illinois in 2020? Want to know what you should jump on, next year, whether you get in on it as an entrepreneur, an investor, or an employee?
Ok, I’m interested. So what are they?
So check these out:
Yep, you read that correctly. Security. Not owning a dispensary, not being a grower, not being a CBD rep. It’s security. You heard it here first, and if you have the chance, get in on it NOW. Why? Well, there’s two reasons.
First of all, most cannabis businesses are cash only. That’s right, cash only. Remember, cannabis is still illegal according to federal law, which makes it pretty hard for weed shops to accept credit card payments. Hence the cash transactions; hence the bags and bags of cash. Therefore, these businesses have a huge need for security. Talk about a pain point to sell… it’s like shooting fish in a barrel, if you ask us.
Secondly, most cannabis businesses can’t have bank accounts. Expanding on the above point, marijuana businesses cannot have federally insured bank accounts. Some work with credit unions, others just have ridiculously huge safes in an undisclosed location. Either way, all of that cash requires round the clock security. Whether we’re talking actual guards, state-of-the-art security systems, or both, this is an amazing vertical for a security company to get into.
2. Business consulting
Don’t roll your eyes at us. This is NOT a non-answer. Business consulting is a major area to consider getting into in Illinois cannabis. Why?
For one thing, Cannabis businesses will need help navigating the red tape. There will be SO much red tape for pot businesses to figure out, especially before they are even launching. There’s licensing, legalities to navigate, tax liabilities… Then there are the hurdles that every other business faces, such as staffing, marketing, accounting issues, etc. As a result, if you have expertise in these areas, you got something to sell, friend. Especially when an industry is new, like weed is going to be in Illinois in 2020, folks are gonna need help figuring out their act.
3. Job training
Yep. Job training! Getting people the skills and knowledge they need to succeed. So many people are going to need job training for so many roles in the Illinois weed world. Staffing is one of the biggest hurdles for any business to overcome, not just marijuana businesses. For example, helping dispensaries find qualified budtenders, is a huge, comprehensive business model. As a result, it’s going to be very profitable. So, if you have the knowledge, the contacts, and the smarts to train quality employees and help companies staff up, you will do very well. Check it out.
There’s a saying out there that relates to the California Gold Rush of 1849… If you want to make money, you don’t go after the gold, you sell ’em the shovels.
Now whether or not you agree with that is not the point. We can make the case that there is plenty of money to be made off of the upcoming gold in Illinois next year. Point being, feel free to go for the obvious, but then look outside of that. Stay aware of opportunities to help, that may not seem so obvious. Can you find where people need HELP? Look to see where the PAIN is, and how you can help soothe it.