We have all heard of the financial wealth building strategy of 7 streams of income. It is believed that most millionaires have at least 7 Income Streams. We define these income streams as Earned Income, Profit Income, Interest Income, Dividend Income, Rental Income, Capital Gains, and Royalties.
The Cannabis Industry offers at least 4 Streams of Income to just about anyone and can be started with a small investment.
Earned Income
Direct Earned Income
Earned Income is any income that you have to work for. This means you have to give physical and/or mental energy to receive the pay-out. The Cannabis Industry has created over 200,000 jobs in the United States in the last 3 years and will increase in the years to come. Earned Income in the Cannabis Industry can be made directly or ancillary. Direct Earned Income is produced when your duties come in right in contact with marijuana. Ancillary Earned Income is produced when your duties do not have direct contact with marijuana but are still an important part of the industry.
So let’s talk about some cool jobs that you can get working directly in the Cannabis Industry.
Delivery Person
Fuck Uber and Lyft, in most areas the market is saturated and the money just is not as good as it used to be, but if you love to drive how about being a Cannabis Delivery Person. Dispensaries have to get their products to their clients and medical patients and many patients find it difficult to leave their homes. This is where a Delivery Person comes into play. Dispensaries will hire a person with a dependable car, clean driving record, and no felonies to transport the medical marijuana from the retail space to the client’s home. Most states will require a medical marijuana card to be obtained by the drivers. Pay rates can vary but can range from $17.00 per hour to $20.00 per hour.
Chef/Baker
Do you love to cook and have a culinary degree that is not paying for itself? Well, what about a career in making Edibles. Edibles are sweets and other foods that have Cannabis infused or baked into it. Several Chefs have taken their business to another level by creating edible foods to help heal Lupus and Cancer Patients. The Edibles must be cooked in a commercial kitchen and approved by the local Health Departments, most states will require caregivers or retail license.
Ancillary Earned Income
Social Media Manager/Influencer
The Cannabis Industry has created a community like no other and one of the biggest ways that they connect is via social media. If you are good at social media platforms and create a strong presence you can attract Dispensaries to help them get their message out. Build a brand by using hashtags such as #cannabiz or #cannacom to attract the cannabis community can become a Cannabis Ambassador.
Travel Agent/Tourism
The world seems to be getting smaller and the desire to travel is increasing. So many individuals and groups are seeking to experience and try new things. I am sure you have heard of attending a wine tour so why not take your clients on a Cannabis Tour that includes a bed and breakfast, grow houses, tasting rooms, dispensaries, and cann-bus. Most tours are available in California and Colorado.
Profit Income
Profit Income is the result of buying something and selling it at a higher price. One of the easiest ways to do this is by joining a CBD Oil network marketing program. There are several CBD Oil and Hemp Oil wholesale programs that anyone can join with a $200.00 or less investment. CBD is the healing property of Cannabis and can be used to help Lupus, Cancer, ADD/AHAD, Diabetes, and Obesity to name a few. Once you buy into the program, just like other network marketing opportunities you have the ability to build teams that you can profit from their sells.
Capital Gains
Capital Gains occur when you own an asset and that increases in value. The most common way to achieve this is to purchase stocks. Many companies in Canada have gone public and use the stock market to raise capital since they were unable to get lending from traditional banks. Since 2014 Cannabis Stocks have steadily increased and are still affordable. But if buying a single stock scares you, diversification is the answer. Vanguard, one of the leaders in the investment industry, has invested $47 million dollars in their Market Index Fund in 3 Cannabis Stocks; Aurora Cannabis, Canopy Growth, and Aphria.
If you want a little more risk and want to own a portfolio of only Cannabis Stock and still like diversification, look into the only US sold Cannabis Exchange Traded Fund (ETF) that holds 10 of the top Cannabis Companies in its fund.
Rental Income
As more and more states and municipals approve and legalize marijuana, more and more businesses will need a space to operate in. This is a great opportunity for Real Estate Investors and Realtors. Finding the perfect place to run a Cannabis Business can be a hard task, but with a great realtor or landlord this process can be made easier and businesses are willing to pay top dollar for this convenience. First, locate a municipality that has approved Cannabis Licenses. Next, review the state laws and regulations on location the business and find a property that fit the bill. Third, check with the neighborhood to make sure that they will approve and not petition a Cannabis Business in the area. Lastly, advertise to Cannabis Entrepreneurs about your ability to help them find the perfect place. Cannabis Business will pay top dollar and you can receive a big commission for your hard work.
Here are your 4 Streams of Income that anyone can create in the Cannabis Industry. For more details and information about Cashing out on Cannabis please join our Facebook Group at
https://www.facebook.com/groups/cannascapital/
Cimone Casson 