Why Now Is the Right Time to Break into the Cannabis Industry

The cannabis industry is booming, and now is the perfect time to explore career opportunities in this space

New companies and positions are created every day in cannabis, and professionals are transitioning into the industry because they recognize the potential for long-term growth in cannabis. Young companies are seeing major profits and will not be slowing down anytime soon.

We will be taking a look at some of the biggest trends in cannabis and shedding light on why the industry has so much potential. This article covers: 

• Industry growth and projections

• Employment by the numbers

• Hottest positions in cannabis to consider

• Ancillary cannabis opportunities, including recruitment

Cannabis industry growth

By 2025, annual sales of medical cannabis are expected to reach $13.1 billion, and the total legal sales of cannabis will reach $30 billion. Medical cannabis is legal in 34 states, and recreational adult use is legal in 11. During the November 2020 election, four additional states voted to legalize recreational cannabis.

Cannabis is becoming more popular, and some believe the increase is largely due to anxiety associated with the COVID-19 pandemic. A survey from Brightfield Group showed that 40% of consumers are planning to use CBD because of the pandemic, and 15% are planning to increase their dosage. Both CBD and THC cannabis products are increasing in demand.

Aside from the overall statistics, it helps to look closer at a business that sees these effects firsthand. The organic gardening and hydroponic company GrowGeneration, which first started in cannabis in 2014, saw a 50% increase in walk-in business and is currently valued at $770.5 million. The company more than doubled revenue in the second quarter of 2020 alone.

These numbers highlight just how quickly the cannabis industry is growing. Now is the time that businesses can take advantage of soaring profits.

Employment numbers

Employment opportunities are also increasing. At the beginning of 2020, one report found a 15% increase from the previous year in full-time positions in the legal cannabis industry. And that percentage is set to keep going upward from there.

Compared to other young markets, career growth for legal cannabis is expected to be 250% between 2018 and 2028, whereas the next highest industry is solar energy, with just 63% growth for that same 10-year period.

As of early 2020, the legal cannabis industry was supporting around 243,700 full-time positions.

Hottest cannabis industry positions

Because the cannabis industry is young, there is a significant need to fill positions of all types. This is good news for those interested in a career in this fast-paced, fast-growing industry.

New farms, distributors, biotech, biopharma, biosciences, and companies all along the supply chain are seeking highly skilled individuals looking to break into the market. So, no matter where you are in your career, there is probably an opportunity for you.

Here are some of the hottest cannabis positions to be aware of right now:

• Chief Executive Officer (CEO)

• Director of Sales or Sales Executives

• Public Relations Executive

• Edibles Chef

• Master Grower

• Cannabis Store Manager

Other cannabis industry functions

Along with the opportunities discussed above, there are also many ancillary cannabis positions available with companies experiencing positive growth from the cannabis industry. 

Consider marketers and advertisers. Now, more businesses are focusing on cannabis to help young companies increase awareness about their products. Other businesses in the professional services realm include law firms, financial services, accounting, and more. These service providers are crucial because the cannabis industry has unique regulations and laws.

Other secondary businesses in this industry include construction companies, packagers, equipment providers, and even venture capitalists. 

Working with a cannabis-focused recruiting firm

Another impact has been on hiring and recruiting. Often executive-level positions in cannabis require a special combination of skill sets and experience. It is wise to work with professionals who understand this unique mix of qualifications.

Drive Talent, a boutique recruiting firm based in Chicago, focuses on finding the right candidates for executive-level cannabis industry positions. We are a woman-owned business and can assist with executive-level, sales, and marketing roles within the industry.

To get started, contact the Drive Talent team to learn more about our unique approach.