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growing weed for profit

Growing weed for profit

Then there are “environmental monitoring and sanitation issues” unique to the growing of weed. “I think the main challenge,” Adams concludes, “is that marijuana is an agricultural or horticultural crop but it’s being regulated from a pharmaceutical perspective. One of the major challenges is joining the agricultural and pharmaceutical ways of doing things.”

Growing and selling marijuana the proper way is rather more difficult than simply popping a plant under a black light in your closet. Doing it right means planning to grow on a large scale – and planning to deal with large-scale problems.

Legal in Canada … for medicinal purposes. Photograph: Alamy

3. Build a client base – and keep them

I f you’ve had enough of your nine-to-five’s wearying toil, perhaps a change of vocation is in order. The Kwantlen Polytechnic University in Vancouver can recommend an intriguing alternative starting this September: selling pot.

For the prospective grower that means knowing both the production side of the industry as well as the sales: you’ve got to be as good at producing pot as getting someone else to pay for it and smoke it.

2. Get to know the logistics

There were, of course, “various growers doing it long before it was legal” but even pot veterans find their expertise distinctly lacking. “People have done the best they can given the resources,” Adams says – but growing marijuana for personal use or illegal sale isn’t the same as running a professional operation. “I’ve noticed that there is a pretty big labor shortage in the marijuana industry,” says Adams. “That’s one of the major problems we’re facing right now: there’s no training anyone can take.”

She continues: “A lot of people have been growing for 20 years. That’s great. Chances are they are very knowledgeable about growing the plant. But when it comes to regulations, financials and everything to do with exchange, they have no idea how that part works.”

Then there are the secondary industries that will blossom in the shadow of the industry, from technology to tourism. A renaissance is beginning. Cultivators are coming together to share generations of knowledge and ground-breaking technology. Communities of cannabis-enthusiasts are forming on-line and IRL.

“I ride to work every day on a bus that’s got a smoothie bar, foosball table, and vaping lounge” one of my techie chums tells me, “But I can’t imagine the amenities your workplace must have!”

Meanwhile, the early on-boarders to legalization find themselves at the vanguard of the industry. The business is an eclectic mix of outlaws and upstarts; a true meritocracy with no discrimination or prejudice. Whether you’re rich or poor, black or white, Protestant or Juggalo; the only thing that matters is how well you do your job.

The work is hard.

Imagine a workplace in which every single one of your coworkers has a deep and passionate love for the product. They use the product every day. It is deeply connected to their mental, physical, emotional, financial, and spiritual well-being. It has been more central to their identity than their race, religion, music, or favorite sports team.

So until that’s the law of the land, I’m going to keep making noise about it in City Hall and on Facebook (and with some of the resources listed below).

I am proud to tell people what I do for work and eager to talk about the state of the business. With the groundswell of support the nation showed for marijuana in November, the conversation about cannabis has been brought into the public light more than ever. However, I’ve noticed a few recurring misconceptions which seem to come up whenever I talk about the cannabis business with outsiders.

But we’re not startups either.

Smoking rarely got in the way of work, and work rarely got in the way of smoking.

And maybe one day the tides will turn so for as long as I can, I am going to keep trying to grow the absolute best weed that I can.

Growing weed for profit

So, total electricity costs will be about $55,000. Water costs will be no more than $700.

Lets try to calculate how much electricity does it take to grow cannabis indoors for our scenario:

Direct expenses include electricity, water, labor and packaging costs.

Cannabis Cultivation Direct & Operating Costs

However, one thing that’s very important to remember when doing any estimations is that although your grow light may account for a lot of your electricity bill, fans and pumps and other things in your grow room also take electricity. These other items cost 3/4 as much electricity as the grow light. It will be plus about $23,150.

We offer The Cannabis Cultivation Financial Model which is a fully-functioning Excel financial model that uses a mix of assumptions to estimate cannabis yields, all revenue and cost line-items monthly over a flexible seven year period, and then sums the monthly results into years for an easy view into the various time periods.

Cannabis Cultivation Initial investments:

Cannabis Cultivation Business Setup, sample

Indoor cultivators produce year-round and can generate between 1 and 12 harvests per year. Main indoor cons include:

Sales are about 1,400 lbs. per year: