You’re interested in farming. In particular, you’re interested in farming hemp. But before you get started, you want to make sure that you’re making the right decision.
Fortunately, you’ve come to the right blog post. Without further ado, here are 7 important factors to consider before farming hemp.
1. You Might Need a License
Depending on the state in which you’re located, you might need a license to farm hemp. Farming hemp without this license would be illegal and could get you in quite a bit of trouble.
As such, before you get started, make sure to consult your state government. Some states require hemp farmers to undergo background checks. Others require hemp farmers to record detailed records of their hemp production and practices.
If you do this illegally, your once-great idea could turn into a very bad one. Stick to the guidelines, obtain any licensure that’s necessary, and you’ll be good to go for the foreseeable future.
2. Hemp Farming Requires Great Attention to Detail
Hemp farming is different from growing potatoes or corn. Because hemp contains THC, it has the ability to stray over legal lines. In particular, if your hemp’s THC level exceeds 0.3%, you’ll technically be growing an illegal plant.
For this reason, when farming hemp, you must pay careful attention to detail. Not only must you monitor cannabinoid levels but you must also dispose of any hemp that doesn’t meet the legal criteria.
In short, hemp can be a little risky. There’s always a potential of you losing substantial amounts of your crop. But if you grow it right, your profit can be huge.
3. Hemp Grows Better in Some Conditions Than in Others
Like all crops, hemp grows better in some conditions than it does in others. So, if you’re looking to establish the greatest grow operation possible, you should think about settling in an area that can offer ideal conditions.
One of the keys is to avoid temperature variation. You want an area in which the temperatures rarely fluctuate. In addition, you want the area to possess above-average humidity and produce, at a minimum, 25 to 30 inches of rain.
Some of the states that fit this bill include Florida, Kentucky, North Carolina, and Tennessee. Parts of Colorado and New York offer fairly good conditions as well.
4. Running a Hemp Farm is Running a Business
There’s a chance that you have an idealistic view of hemp farming. You might dream of waking up, leaving your back door, and tending your land with your friends and your family. And while you can certainly make this happen, you must remember: running a hemp farm is running a business.
There’s much more to farming hemp than just growing hemp. You must market it, package it, and ensure that it makes its way to the proper channels. You must do this day in and day out, for if you don’t, you could end up losing money on the endeavor.
Hemp farming can be very fulfilling, but it could never be mistaken for easy. You will work long days to establish your operation. In fact, you’ll likely work harder than you’ve ever worked before.
Whatever you do, don’t approach this as flippant. If it’s going to succeed, and not cost you a great deal of money, it will require your full effort and attention.
5. It Can Be Difficult to Succeed in a Saturated Market
If you’re going to be successful as a hemp farmer, you’re going to need to find an appropriate market. In other words, you’re going to need to find an area in which hemp is desired.
But it’s not quite that simple. You’re also going to want to find an area in which the market is not already saturated by other hemp farmers. If the market is already saturated, you’re going to have trouble gaining a foothold.
Some of the most saturated markets exist in Tennessee and Oregon. Kentucky and Colorado are fairly saturated as well. Some appropriate markets for you to pursue might be New York, North Carolina, Vermont, Florida, and Pennsylvania.
Do your research and see where there might be a need. The less competition you have, the better odds you’ll have at success.
6. It Can Require a Great Deal of Equipment
If you’re growing only small amounts of hemp, you likely won’t need much equipment. If you’re growing large amounts of hemp, you’re undoubtedly going to need substantial equipment.
Hemp farming equipment runs the gamut from transplanters to bed mowers to mulch layers and more. Together, this equipment stands to cost you tens or even hundreds of thousands of dollars.
So, if large-scale hemp farming is the goal, you’re going to need a lot of capital on your side. Determine whether the initial expenses are worth the potential profit before diving in head-first.
7. There Could Be Some Opposition
Depending on where you’re planning to farm your hemp, there could be some opposition, not only from the state and local governments but from the local community as well. There is, after all, some stigma that continues to surround hemp.
So, before you plant your roots, so to speak, make sure that you’re in a welcoming environment. The last thing you’d want is to have to pack up and leave because others aren’t comfortable with what you’re doing. The long-term success of your business endeavor depends on choosing a spot in which you’re free to grow.
Farming Hemp Has Its Upsides and Downsides
Farming hemp can be a fulfilling and financially rewarding experience. But it’s far from fool-proof. It has its upsides and downsides and must be approached with great consideration and care.
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