The cannabis industry’s growth has been promising over the last few years, making many wonder whether they should start their own business in it. The sector is expected to grow into a $77 billion industry by 2022 and the consistent performance of marijuana stocks is proof of its upward trajectory. It’s unsurprising that many want to start their own weed business.
Mistakes can sink an entrepreneurial venture before it even floats, though.
Equipment, in particular, can be a huge pain point for many newcomers to the cannabis sector. If you want your venture to grow and have booming marijuana stocks, you have to be wary of the following common equipment purchasing pitfalls:
Buying Inappropriate Equipment
First of all, you must have a clear idea and plan regarding your operations. How big will your operations be? Will you be growing weed indoors or outdoors? Your answers to these questions determines the type of equipment you’ll need.
What works well for a 500 square-foot operation would differ vastly from that of a 5,000 square-foot one. The growing systems that you have must be able to handle the operation you’re planning for. At the same time, it must also have room or potential to scale in the future.
Sourcing Poor Quality Lights
Light is one of the most important aspects of cultivating marijuana. You cannot afford to skimp on proper, sufficient lighting, especially for indoor operations. Doing so would yield an inconsistent product quality leading to poor customer experience.
Two great options for grow lights are either compact fluorescent grow lights (CFL) or LED grow lights.
The former is more affordable and easier to use for newbies but might result in lower yields. The latter costs more upfront and has a bit of a learning curve to use – but it is the better choice due to energy efficiency and higher yields.
Cutting Corners on Climate Control
Too many business owners underestimate how much cooling their facility needs. Humidity and temperature are two other crucial aspects of marijuana cultivation. Thus, it’s essential to invest in a proper HVAC system with humidity mitigation.
A good rule to follow is to have one ton of cooling per two high pressure sodium (HPS) lights or four LED lights. Otherwise, you’d fry your plants or operate under capacity, both of which will take a sizable chunk of your profits.
A business that’s consistent with its products and services is a profitable one. In the cannabis sector, that means making sure your products are always of the same quality every time customers buy. The best way to achieve that is through automation.
There are systems out there for commercial ventures that automate every important step of growing marijuana. From light levels and irrigation timing to fertilizing mix, air filtration, and cooling, an automated system can address all of these and make it consistent throughout your facility.
Sure, you can do all of these steps manually, but automated processes create data that you can use to make smart business decisions and, eventually, ensure your marijuana stocks keep rising.
Got any questions or advice regarding cannabis equipment? Share it with us in the comments section and let’s discuss!