Starting a Marijuana Business: Crash Course 101

Starting a cannabis business is just like starting a tech company a few years ago. Booming, highly competitive and could bring in a massive stream of revenue but only if your business model survives the market competition. To truly take a dive into one of the fastest-growing markets in the U.S, you’ll have to know where to begin and we are here to help.

As an insider of the marijuana business, Studio Linear will walk you through some steps before launch. We won't have time to cover every detail, but this is a great starting point. If you have any questions along the way, please feel free to reach out to us!

What every business owner should do when starting a marijuana business

Trademarking your brand:

Your brand identity is priceless.  With the growth of the cannabis industry, there is nothing protecting your business name or branding if you do not properly trademark your materials.  

By protecting it from being copied by other brands, you’re creating a solid foundation for your marijuana business. Having a clear, strong brand means it’s much easier for customers to distinguish you from your rivals. This then provides you with reputation, and overall revenue. To trademark your business name/logo, you will have to show proof of use which means, you will need to show your logo and business name being used on things like printed material (business cards, letterhead, or packaging) and on your website.

Create unique design and product photography:

We are all attracted to great product photography, it is such an important part of any brand launch. Investing in product/brand photography is sadly overlooked, especially when brands think their iPhone can take website/social media worthy imagery.  

How you present your brand in the digital marketplace is the first impression a user has. If the imagery of your product or brand looks sub-par, the first impression of the business is just that, average and not captivating.

By crafting up unique packaging design and working with professional photographers, it will help your business not only reach its target demographic but having an immediate relatable experience for the viewer, one that they can trust. We can help with your product and brand photography, feel free to just ask!

Always play by the rules:

Before thinking about making a profit, it is critical to understand all the regulations and compliance factors your business will face.  This will help you stay on the market long enough to gain profits. Each state has its own regulations on cannabis packaging, label, and products, so it’s vital that you learn all of that and strictly follow it to avoid any possible problems.

And when it comes to marketing, playing by the rules is extremely important. Regulation for marijuana is still strictly controlled on most platforms, changing constantly. That’s why besides concentrating on following the federal & platform rules, you must also be well versed in permitted cannabis SEO and what is allowed on social media for promotions and ads.

Make a story to build a cult following:

Marketing for cannabis brands is not a simple story. Customers are getting more and more concerned about product origin & effectiveness. And as a cannabis marketing agency, we’re seeing a rise in customers that care about health, wellness & lifestyle. So if you want to have loyal customers in such a competitive market, you should understand what they want & give them that.

Show them your brand story and values that they’d find relevant, and give your brand a mission. All these details will keep your customers loyal as they see you have your mission to serve, and it benefits them. Some keywords you should engage with when starting a marijuana business are artisan, handcrafted, authentic, and wellness.

Be customer-centric:

No matter what your business goals are, as a brand, you must be customer-centric. When you focus on improving your customers' experience, you’ll naturally attract people who want to try your products and they remain loyal when they see that you care about the product and care for them. As a small business, every customer counts, and this is what makes you different from large corporations. We’re sure there are many ways you can improve your customer experience.

One of the most obvious channels you can make a difference is online. Through your website, through your social media, or with offline events. Take advantage of every chance to prove that you're a great brand to try. When every action of your brand aims at satisfying customers, people will notice. And let us tell you, sometimes word-of-mouth is even more powerful than the worth of a dollar of advertisement. Winning a customer could lead you to many others, so try your best to make your customers fascinating with your brand and products.

Summary:

We know there are many items that come into play when starting your cannabis business but let this be a good stepping stone to that launch. These 5 steps are the guidance for you when you first start your journey of building a great brand. The cannabis industry, despite some unique features, is just as interesting to work with as any other industry. As an in-depth marijuana marketing agency, we’re looking forward to seeing high-quality brands and products on the market.

By starting a marijuana business now, you’ll have plenty of chances to learn from past case studies and role models. Learn from people's success, and even their mistakes, and grow on your own terms. Keep working, stay authentic and stick to your own mission/values. If you need a helping hand, Studio Linear is always ready. We have all the experience you need when first starting a marijuana business, with a unique creativity that will be super useful.