In the first month of legalization in the state of Illinois, cannabis sales reached almost $40 million. If anyone is looking for a single reason to get into the cannabis business, this is it.
How can we enter the cannabis space? Are there any business opportunities we can take advantage of while we get locally licensed?
As real estate professionals, we need to make sure we safeguard our reputations - but it’s becoming easier and more accepted to get into the cannabis industry.
Michael Malcolm is a Real Estate broker who knows this first hand. On this episode, the Founder and Cannabis Consultant at WTF Media, Michael Malcolm shares how to get involved in the cannabis space.
Three Things You’ll Learn In This Episode
- Get a license
To legally grow, sell, or infuse products with marijuana, we need to have a license. Be sure to apply for one - but know that there are regular delays.
- Look for ancillary opportunities
There are a number of ancillary businesses in the cannabis space that don’t require licenses. Anything that doesn’t touch the flower itself is legal - look into options like smoke shops that sell relevant accessories, but not the marijuana itself.
- Prioritize reputation
As in any business, it’s important to make sure people know we’re professional and take the space seriously. Be consistent and show up.
Michael Malcolm is the Founder, Cannabis Consultant and brand ambassador at WTF Media. He’s spent the past year travelling the country, advising cannabis companies on social media marketing strategies and creating content for social media and standard operating procedure video. Michael is also a Real Estate Broker at @properties.
To find out more about Malcolm, visit