Article by Entrepreneur
There are many ways to earn money in the marijuana industry without growing or selling marijuana flower. Increasingly, the most popular is through the creation of cannabis-infused edibles.
There’s also perhaps never been a better time to enter the industry. Colorado, Oregon and Washington were forerunners on legal recreational marijuana. But with Nevada and California recently joining their ranks – and Massachusetts expected to do so in July – a horde of entrepreneurs have been unleashed on the industry. Many are focused on the area of marijuana edibles.
If you like to make food or are willing to bankroll someone who does, the edibles market is increasing along with everything else marijuana-related. The draw of edibles is obviously that you can enjoy the effects of marijuana without having to smoke it.
In Colorado alone, 11.1 million edible marijuana products were sold in 2017. One of the leaders in this area is Wana Brands, co-founded by Nancy Whiteman. The company has 48 percent of the Rocky Mountain state’s gummy edibles market. Despite the explosive growth, Whiteman told the Denver Post “I think we’re still early stage as an industry.”
Marijuana edibles already have made the list of Food Trends for 2018 by the Specialty Food Association, right up there with algae as a meat substitute and shakshuka. As noted by Whiteman, there seems plenty of time to get on board. Signs of this are everywhere. The Colorado edible marijuana company Mayflower Medicinals already has a Massachusetts branch for its business. There’s also cannabis-infused pizza for sale in Massachusetts. In California, there’s weed-infused chocolate spread.
But perhaps no person better embodies the shift into the marijuana business than Eric Eslao, who went from working for Apple to starting his own luxury chocolate company in Oakland. Now, he wants to bring Défoncé Chocolatier marijuana-infused edibles to a new market, perhaps San Francisco, before the end of the year.