3 Ways Pot can Make Pennies for You

Marijuana is a booming industry. While this trending business is still in its infancy, it has already generated billions of dollars in revenue among U.S. states where legalization has occurred. The sales figures are even more impressive on a global scale, which begs the question--how can you get in on the action? More to the point, how can you capitalize on the cannabis craze? In an effort to help bolster your bank balance, here are three ways pot could make pennies for you.

1. Entrepreneurship

For those with innovative ideas and chutzpah, this approach could be a winning formula. The weed market presents unique opportunities for entrepreneurs to bring their ideas to fruition and capitalize on the endeavor. Best of all, there are numerous paths to potential success that can be explored. From retail shops that sell cannabis-derived products to homemade edibles to CBD-infused bath and beauty supplies, there are so many ways to make money in the reefer industry. However, it is important to keep in mind that there are multiple startups in the field that are jockeying for premiere status in the booming sector. Therefore, you should explore a business opportunity that addresses a problem within the industry and seeks to solve it.

2. Investment

If you have disposable income and are looking for investment opportunities, the marijuana industry offers a plethora of options and the potential for substantial returns. Truth be told, some of us are worker bees while others like to be in control, or more specifically, they prefer to take a hands-off approach and allow their money to do the work. If you fall into this category, rest assured there are numerous wannabe weed moguls who will happily accept or seek out your investment.

There is a catch to consider, however, prior to diving into the ganja gambit. Given the fact that the cannabis sector is still developing and faces ever-changing regulation, investing in this field is speculative and carries some degree of risk. How much risk depends on the amount and nature of your investment. One option that generally carries a lower risk and requires less capital involves penny pot stocks.

Some of the best marijuana stocks to consider for 2019 and beyond may include the following:

--Aleafia Health (ALEAF)
--Marimed (MRMD)
--Canopy Growth (CGC)
--Origin House (ORHOF)
--Auxly Cannabis (CBWTF)
--Cronos Group (CRON)
--Aurora Cannabis (ACB)

While there are risks associated with any type of investment, the potential gains that could be garnered from the cannabis sector tend to outweigh the drawbacks. This is especially true given the explosive growth this field has experienced over the last decade and the projected growth expected to occur over the next 10 years. If the success of the Mary Jane industry meets or exceeds expectations, those aspiring entrepreneurs who invested in ganja futures while in the early stages will likely see a hefty return down the road.

3. Career Opportunities

The legal marijuana trade offers a myriad of career opportunities. With revenues exceeding $10 billion in 2018 and projected profits of $16 billion for 2019, the emerging sector is responsible for creating hundreds of thousands of jobs throughout the country. Moreover, as this field continues to expand and grow, additional positions will be created and more personnel will be needed.

For those interested in learning more about the cannabis industry, obtaining a job in the trade is a great way to get your foot in the door and earn some cash. Another advantage of these positions is that they tend to pay fairly well and there are opportunities for advancement.

Career opportunities available in the weed sector could include the following positions:

--Sales Associates
--Budtenders
--Delivery Personnel
--Security
--Writing/Editing (Content Production)
--Website Development
--Dispensary or Store Managers
--Harvesters
--Production Manager
--Bakers/Chefs/Edible Makers

As more states approve the legalization of medical and recreational marijuana as well as efforts to decriminalize and reschedule the drug persists, the cannabis industry will likely continue to flourish and the job market it has created should do the same.

Currently, 46 of the 50 states have passed legislation broadly legalizing the drug in some form. At this time, 10 states, along with the District of Columbia, have legalized recreational pot. Thirty-four states have implemented (or are in the process of) medical marijuana programs for a variety of disorders and conditions. Meanwhile, others approve medicinal use only under certain circumstances, if specific criteria are met, or they are still fighting for access to legal medical ganja.

As momentum continues to build for nationwide cannabis legalization, the forecast for the industry is both promising and enthusiastic. The tide has turned and the question of legalization is no longer if but likely when. Furthermore, once reefer is legalized on the federal level, not only will the sector expand exponentially, but there should be even more ways pot could make pennies for you.