Some California wineries are considering a unique new way to diversify their offerings — adding marijuana.
Growing Marijuana and Making Wine
As the state prepares to begin handing out marijuana licenses to businesses on January 1, this new opportunity has a lot of existing winemakers thinking. Since they already have the land and many of the supplies necessary to grow crops, adding a marijuana component makes sense.
In fact, California isn’t the only state where this trend has started to take hold. Oregon wineries have also begun considering the possibilities of offering wine and weed together.
Of course, you don’t have to be an established vitner to take advantage of this opportunity. Opening a vineyard and a marijuana business could be a great way to start a business with multiple income streams right from the start. And both also represent great business opportunities for entrepreneurs with vacant land.
There are some major obstacles though. Of course, you’ll need to start up in a state that has legalized recreational use of marijuana. There are also a lot of regulatory hoops to jump through in this new industry. And as marijuana continues to be legalized in more places, the prices are likely to go down a bit, leading to potentially smaller profit margins over time.