How To Become A Cannabis Entrepreneur In Europe
The US and Canada are undefeated leaders of the medical marijuana industry; while Europe’s legal situation of CBD is in a bit of frenzy at the moment. The good news is that European cannabis products are far more popular than initially expected. Europe is a big deal, and if you are considering becoming a cannabis entrepreneur, you are not alone. There are plenty of passionate people willing to take cannabis up a notch, enlightening others about what they have been missing out on, but very few can make it out alive (metaphorically speaking). Keeping this in mind, if you want to succeed, here are a couple of things you need to keep in mind.
Understand there are many Possibilities
Most people believe that being a cannabis entrepreneur is strictly about growing and selling marijuana, but they are thoroughly mistaken.
When it comes to cannabis, there are countless opportunities. The industry is vastly different from other sectors, which means you will need to look for associates and partners that understand your niche. Additionally, it is equally important to learn everything there is to know about hemp and marijuana to stay competitive.
The cannabis industry is surprisingly quite demanding, requiring competencies in fields like botany, chemistry, programming, marketing management, communications, law, sales, and so on. So if you have relevant experience in one of the said fields, you should take advantage of the opportunity before someone else does.
Educate yourself about Restrictions
Europe has several restrictions in place for cannabis entrepreneurs, mostly on social media platforms like Facebook, Google Ads, and YouTube. It means they cannot work on marketing strategies or campaigns for social media.
Of course, this does not mean you are out for the count. Since most cannabis entrepreneurs aren’t exactly tech-savvy, you can take advantage of this opportunity to implement advanced digital marketing techniques to outdo your competition. By mastering search engine optimization, content marketing, and public relations, you will be able to reach new heights like never before.
While the EU is considered to be a nightmare in terms of regulations, they are far laxer than those imposed by the US, including and not limited to clearer and easy to understand rules for industrial hemp.
Generally speaking, industrial hemp and CBD are legal throughout the EU. It is worth noting though that there are several disparities among member states of the EU. For instance, several hemp shops sell low-THC hemp flowers without any issues or constraints from the Australian government, while the German police are not happy when domestic companies do the same.
Benefit from Networking Opportunities
To succeed as an entrepreneur, you will need to expand your network of contacts. It is not only a great idea, but it is the best advice you can get, especially if you are not sure about how you go about starting your very own cannabis business in Europe. For starters, you can and should attend as many cannabis conferences as possible. There, make it a point to meet and develop relationships with other cannabis entrepreneurs.
You have two routes, you can attend massive events like the International Cannabis Business Conference, or you could participate in consumer-focused fairs, which are considerably smaller. With the first option, you get access to some of the biggest names in the industry, while the latter offers access to producers of consumer goods, numerous SME service providers, and owners of online shops.
Regardless of what route you choose, the European cannabis market will have plenty to offer. According to Prohibition Partners, Europe could be one of the wealthiest cannabis markets soon. Considering what the future has in store for the European cannabis industry, it is better to start sooner rather than later.