So you want to work in the cannabis industry?
Updated: Feb 23, 2022
One thing is for sure, cannabis turned out to be a big moneymaker. Illinois recreational cannabis sales set record in December, and hit $1.38 billion for the year, more than doubling 2020. With so much money coming into the state, it is natural to wonder how some of it can land in the pockets of new entrepreneurs and those who wish to work in the field. However, the laws, rules, and application process can be daunting for most first-timers.
First, understand the different types of legal cannabis businesses. In Illinois, there are four major sectors, each working together to accomplish delivering the product to the customer.
Cultivation Center or Craft Grower
This sector is regulated by the Department of Agriculture and is responsible for the growth, and creation of concentrates such as shatter, tincture, and so on.
This sector is also regulated by the Department of Agriculture and is responsible for infusing foods, drinks, and topicals with cannabis.
A transportation company serves as the delivery service for all cannabis and cannabis-infused items. From cultivation to the dispensary and every step in between, the transportation company does the pickup and drop off of the product. Transportation is regulated by the Department of Agriculture.
Perhaps the most known of all cannabis businesses are the customer-facing dispensaries. A dispensary is the only business allowed to sell cannabis and cannabis-infused products. This sector is regulated by the Department of Financial and Professional Regulation.
In order to incorporate social equity into the process, the state of Illinois created several methods to assist minority small business owners looking to begin their business. One is the incubator program, a company can function under the license of a parent company for a year while learning the ins and outs of the operation. Illinois also offers discounts on social equity application fees. Under the right circumstances, these applicants can save several thousands of dollars for the start-up process.
Education is a state requirement for any position within a cannabis-based business. SkHigh is a state-approved vendor training facility. We offer the required training on laws and regulations, and we also provide education on the application process. Sign up for our class below.
A cannabis business has unimaginable potential. There is still plenty of room for new brands and businesses. We at SkHigh are on a mission to start 100 cannabis-based companies in the year 2022. We look forward to helping you start yours!