Be it for recreation or medical use, residents of Michigan are always on the lookout for some refreshing weed. If you want to leverage this trend, here’s something to know.
Recently, the sales value of cannabis in Michigan has surpassed the USD 540 million mark. The figure is huge and can seem like a motivation for you to delve into this profitable market.
After the legalization of cannabis, opening a michigan dispensary has become an aim for many weed enthusiasts. Still, the process can be unknown to some folks.
This article sheds light on the licensing and essential details of opening a cannabis dispensary in Michigan.
Application Process to Open a Marijuana Dispensary
The process to open a marijuana outlet in Michigan has two crucial steps. Take a look at each one in brief.
Before opening a michigan dispensary, it is vital to fill out an EIPP. This term stands for Entity/Individual Pre-qualification Packet.
You need to attach all the mentioned documents with the EIPP. The document will indicate your desire to apply for a medical marijuana center license.
Next, you need to compile a Supplemental Applicant Pre-qualification Packet. Note that this process must include details of all individuals who have collaborated to initiate this venture.
The authorities will conduct background checks. After approval, you can move on to the next stage.
2. Application for License
This stage consists of information on the type of marijuana dispensary. Here are the standard licenses to enter Michigan’s pot market:
- Class A Grower: You can grow up to 100 plants with this license and sell to retail shops
- Microbusiness: This license allows you to grow up to 150 plants and sell them to people over 21 years of age
- Designated Consumption Establishment: This license is suitable for social clubs selling marijuana in any form
- Marijuana Event Organizer: You can set up temporary events like conferences and cannabis competitions with this license
- Marijuana Testing facility: This is the costliest cannabis license in Michigan which involves testing medical or recreational marijuana
After you decide the type of cannabis business, you can select an appropriate license. Consequently, you need to mention details like estimated opening date, proof of premises, facility plan, product inventory plan, etc.
Finally, you can apply through offline or online mode. You need to pay a regulatory assessment fee in the state of Michigan. This fee is variable depending on the number of licenses to be issued.
Licensing Process Costs
The application fee for this process is USD 6,000. You should submit this fee before the final processing of the dispensary claim.
Also, the annual regulatory assessment fee can vary every year. Hence, you need to check the official Michigan state website for the precise value.
Legalizing cannabis in Michigan has opened lots of opportunities for marijuana enthusiasts. However, you need to follow a simple two-step process to open a legal store.
Pre-qualification is mandatory to initiate the licensing procedure. Later, you need to submit relevant documents and fees to obtain a license.
It is crucial to check the updated conditions of each license. Match the criteria with your plan of opening a marijuana dispensary. Notably, the straightforward process will simplify most of the doubts that you might have at the moment.
The Marijuana Regulatory Agency will control the entire process. So, be sure to follow all the official instructions carefully.