As the cannabis industry continues to thrive in the U.S. (specifically California, which has 6,000 licensed cannabis companies), a few standout startups are drawing one heck of a crowd with their innovative take on business and cannabis.
This month, we highlight 4 cannabis startups to keep on your business-hustle inspiration radar.
1. Massroots
This social platform network for the cannabis community boasts over one million active users who share valuable content, search for nearby dispensaries and more. And with California’s multi-billion dollar market, plans are already in place to scale their market over to the Golden State.
Our takeaway: Where there’s a niche, there’s a way.
Connect your target demographic! This can be as simple as a comment section on your site, or a fully-branded social sharing app. Either way, getting people talking is a great way of keeping a passive but powerful pulse on what your customers are saying.
2. Lord Jones
This startup is making some serious waves with a unique spin on edibles that combine California-grown cannabis, European fruit essences and Ecuadorian chocolate. Their distinct products have been featured on publications like the New York Times, Rolling Stone, and GQ, to name a few.
Our takeaway: Think different. Expand your reach.
Lord Jones didn’t just choose to sell your run-of-the-mill edibles. By thinking outside the ingredient box and perfecting a delicious mix of an eclectic set of flavors, the company has created intrigue for a new customer base that’s interested in trying something unusual.
3. My Nug Run
Partnering with cannabis farms, My Nug Run creates and sends custom packaged boxes containing cannabis favorites (from edibles to pre-rolled joints) straight to the doorsteps of loyal subscribers.
Our takeaway: Subscriptions are (still) all the rage.
This trend isn’t going anywhere. Finding ways to bring products to customers on a cadence continues to have huge loyalty payoffs for an on-the-go, efficiency-loving world.
4. KIVA Confections
This startup is thriving in microdosing, a way of consuming cannabis edibles in very small doses. They create mints, chocolate-covered espresso beans, blueberries and more, giving users a just-right dose without having to cut larger edibles into many pieces.
Our takeaway: Serve the underserved.
Not everyone uses your product or service in the same way. Do your research, get to know your customer base, and design products to fulfill a need for those who might be underserved — but still interested in your brand or product.
Needless to say, the cannabis industry is boasting a great trajectory, and as small-business champions, we think anything that’s grassroots — deserves a big round of applause.