While this can be important, it doesnt really have as much relevance as some may think as the numbers really determine the value on the cannabis real estate market. While the dispensary market in2018 and early 2019 was hot and will heat back up in the future, market data from late 2019 and 2020 shows that sale practically ground to a halt. Yes. Make it as easy, seamless, and convenient for them as possible. Currently, there are around 500 MMJ licenses and 170 recreational cannabis licenses granted in Michigan, but this industry is only getting stronger so we can expect to have a higher number by 2021. Stay productive once you start your business. From organic to exotic and everything in between, dispensaries.com has one of the most extensive list of pot cultivators on the market. Orders must be received through a secure website that authenticates access by a registered qualifying patient. Usually, seller financing is a verified win-win for both buyers and seller. What is a CPA Attestation and what is required to be included? There is a prequalification phase to fill out all the documents and submit them for consideration. Should I go to a third-party business to get/renew my registry identification card? Operating dispensaries tend to garner a higher sales price in the Michigan cannabis real estate industry, but Ive seen at least one situation where a plan to open up actually hurt the overall sales price instead of boosting it. By. You can apply online, view application resources, and download application forms at the MRAs adult-use marijuana application page. You cannot have any Marijuana products within reach of patients or customers. A marijuana establishment can apply for a license as a designated consumption site. On the buy side, one thing we look for is a medical dispensary doing good numbers under medical in an area we know is about to opt-in to adult use. What authority does a municipality have in the marijuana industry? I utilize another company to handle a type of service necessary for the operation of my licensed entity. Avoid showing up to a cannabis dispensary without a meeting. Yes, you can sell your medical CBD and THC products to your favorite dispensaries by approaching them over the phone with a complete briefing about your cannabis product. We know Detroit is looking to go adult-use, but the city cant seem to get out of its own way. Ensure that you mention precisely the cannabis product that you want to sell and its properties. Michigan Medical Marijuana Program (Patients/Caregivers), Verify a Medical Marijuana Facility License, Verify an Adult-Use Establishment License, Metrc - Statewide Marijuana Monitoring System. Thanks! Below is an updated listing for non-residents purchasing out-of-state medical cannabis and recreational marijuana. For an adult-use marijuana retail store you should apply for a retailer license that allows you to sell marijuana and other marijuana products, including plants and seedlings. Can I transfer a marijuana license from one entity to another? Can a temporary marijuana event be held overnight? It is always best if renewal paperwork is received by the department as one complete packet. What is the application fee to file an amendment? Find out how Michigan will monitor commercial cannabis activity here. Under Michigan law, both actions are a felony punishable by up to 4 years in prison. May a medical grower, processor, or provisioning center facility hold an ownership interest in an adult-use secure transporter, safety compliance facility, or a microbusiness establishment? The appeal of Ferndale dispensaries is likely to drop with Madison Heights coming online and with Royal Oak and Berkeley not far behind, assuming litigation doesnt tie up those cities for too long. How should I submit my Annual Financial Statement (AFS) report? I am unable to follow a procedure as specified. How can I remove a current patient? The same can be said for many areas throughout Michigan. It is required by many municipalities before even applying for a local permit. If you were to look just at data for comparable sales of dispensaries, it may be hard to make heads or tails out of the sales prices. Retail Innovation Labs LLC Trading as Cova Software. Go to Cannabis Regulatory Agency Licensing & Statistical Reports, Go to Statewide Marijuana Monitoring System Information - Metrc, Go to Apply, amend, renew an adult-use establishment license, Go to Apply, amend, renew a medical marihuana facility license, Go to Apply, amend, renew a patient or caregiver medical marijuana card, Go to Apply to be a hemp processor-handler, Go to Apply for or renew a Social Equity application, Go to File a complaint against a licensee, Go to Notify the agency of a material change, Go to File a petition for the medical marijuana review panel, Go to Active marijuana businesses in my area, Go to Active marijuana businesses in the state, Go to Approved grants and the grant approval process, Go to Licensees that have had disciplinary actions taken against them, Go to Tips for licensees, technical or advisory bulletins, Go to The number of previously approved applications or licenses. This means ensuring a super good user . 300 Great Oaks Blvd, Suite 300-022 Albany NY, 12203, How To Open a Marijuana Dispensary in Michigan. How do I register a minor (under the age of 18) with the Michigan Medical Marijuana Program (MMMP)? My business is developing an in-field THC testing kit, and we will collect hemp samples to test the efficacy of the kit. 300 Great Oaks Blvd, Suite 300-022 Albany NY, 12203, How To Get a Commercial Marijuana Growers License in Michigan, MICHIGAN PRE-QUALIFICATION MARIJUANA LICENSE, How to Apply for a New York Cannabis License, How to Apply for A Cannabis Retailer License in Minnesota, Illinois Cannabis DUI Lawyer What You Need to Know, Washington Social Equity Cannabis License Application, Illinois Cannabis Dispensary Application 2023 | Social Equity License Lottery, How to raise funds for your cannabis company. For the sake of perspective, this is slightly higher than a Whole Foods and much more profitable than the typical pharmacy. Should those transfers be reported as revenue on P2 Schedule of Revenue? To be a Rec grower here you have to have your location approved, cameras and security system. Our number is in the lower right corner works even on desktop. Anyone over the age of 21 can buy weed legally in Michigan, no matter what state or country you are from. No person shall act as a dispensary without a license issued by the Department of Consumer Protection. I want to grow and possess my own plants. What if I do not submit my Annual Financial Statement (AFS) report by the deadline? The state had allowed caregivers to sell their excess cannabis to the retail market. Keep in mind that with just a few exceptions, it's generally illegal to consume cannabis in public. Many localities have stated an intention to grant approval later as the market develops. The wholesale price for marijuana in Michigan is running $4,000 to $4,500 a pound, one of the highest prices in the nation. The good thing about applying for a cannabis license in Michigan is that, contrary to many other states in the United States, it does not have a statewide limit for the number of licenses approved neither for medical marijuana businesses nor for adult-use businesses. If the dispensary is otherwise quiet . All rights reserved. Are transfer of interest documents still required for a change of ownership? If I change the ownership on my medical prequalification, do I need to update capitalization? Learn your next steps in your cannabis business. Sales began Dec. 1, 2019. You're taking their product and benefitting from it - again, a question for an attorney as this is out of CRA's regulatory authority. When you work out the numbers, the seller would have received closer to $1.15M, or an extra $300,000, with seller financing. Be aware that public consumption is still punishable by a fine of up to $100, so if you light up, do it on your own private property. Do I need a license for a social/cannabis club? When do I renew my registry identification card? Licenses are given out for marijuana cultivators, processors, testing facilities, transporters, and, of course, dispensaries. The Basic Steps to Making Money Selling to Dispensaries. In Michigan, medical cannabis dispensaries are called provisioning centers. MRA uses a two-step application process for all marijuana facility licensing; the first step is prequalification, and includes a background check of all persons associated with the application. Doing so will result in the most efficient and timely processing of your paperwork. What is the timeline to process an adult-use application? How to Get a Dispensary License in Michigan In Michigan, the Medical Marihuana Facilities Licensing Division regulates licensing for medical marijuana businesses. July 2, 2020 Jordyn Pair. One of the most overlooked factors affecting the final sale price of dispensary listings in the Michigan cannabis real estate industry is timing. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer. What is considered an exception on the Annual Financial Statement (AFS) report? Do I have to designate a primary caregiver? Gretchen Whitmer on Wednesday. I am a vertically integrated licensee. For now, there are only medical dispensaries available to [] Who can certify a patient's medical use of marijuana? What impact does the MMFLA have on patients or caregivers operating under the MMMA? In this situation, the company actually spent more money to makelessmoney on the sale. Arkansas Annual cultivation license fee: $100,000 Performance bond: $500,000 California Annual license application fees: Specialty Cottage Outdoor $135 Specialty Cottage Indoor $205 Specialty Cottage Mixed-Light Tier 1 $340 This page is informational only and should not be considered legal advice. For example, it can range from $128/sq ft to $393/sq ft. On the other hand, if you are limited to leasing the property, monthly costs for a marijuana store might run between $3,500 and $10,000 or even higher. Handling - Possessing, storing, or transporting industrial hemp on premises owned, operated, or controlled by a registered grower or a licensed processor-handler. Either way, you should get in touch with a cannabis license lawyer that could assist you in presenting a perfect application. Obviously, you can start with a call to the dispensary. But, from March 2021, Michigan will start accepting applications for recreational cannabis licensing opportunities from entrepreneurs who did not previously hold medical marijuana licenses. But that is coming to an end real fast. There are differences between state rules and regulations, especially related to the specifics of how much a Caregiver can grow, posess and how many Patients and Dispensaries they can distribute to, but the basic steps are as follows: Apply for your Patient Status with Doctor recommendation. Each license is exclusive to the license type issued and to the licensee. Refrain from crossing state lines. o Michigan.gov/IndustrialHemp (main page) For all of you, our friends at Michigan Edibles put together an awesome step-by-step guide to how to legally sell marijuana edibles in Michigan. I know you need a license to grow, however, since I will be the one selling would I need a license myself? How do I update my name on my registry card? Search no further, here you may find a list of cannabis growers and marijuana cultivators complete with their offering and locations they serve. Don't drive while consuming or immediately afterward. Remember, your processor-handler license will not be issued until all required elements are submitted and processed. Lastly, cyber security can cause huge problems for a dispensary if their point-of-sale software is compromised. The total fees range from $4000 to $40,000 depending on the class you are applying for. Dispensaries and Grower-Processors can now download commonly used request forms on the new forms page. Ohio. What If You Get Caught With 25 Plants? If you grow hemp and want to sell harvested hemp to a licensed hemp or marijuana processor, you may do so under your grower registration. to enter the dispensary. If you or someone you know is interested in knowing more about medical marijuana in Massachusetts and how it can benefit your overall health, call Inhale MD today at (617) 477-8886. I want to sell industrial hemp. Michigan's Industrial Hemp Research and Development Act, PA 547 of 2014, as amended, requires any person who is marketing industrial hemp in Michigan to be licensed as a processor-handler. How much is the fee? In terms of where you may use the substance, Michigan law requires that anyone using cannabis must do so in private, such as in their own residence. In Michigan, the location is essential for the prosperity of your business since many local municipalities can choose to ban or limit the number of businesses. However, equally important to note is that this percentage varies in . || attorney & consultant marketing - collateral base firm, Developed By WorldWin Coder Pvt Ltd & Stumari. If the product is from out of state, has the lab and the product met that state's requirements for licensure, lab accreditation, and testing? Patients wishing to grow medical marijuana in Missouri must first obtain an ID card from the Department of Health. This is a less-intense version of the Budtender Certification with an overview of the endocannabinoid system and a summary of the basic cannabinoids and terpenes that the plant possesses. A business plan for a marijuana dispensary requires knowledge about the right location and proper requirements at the place of operation. The industry is getting a lot of attention for its impressive growth in such a short amount of time. And since the frameworks for cannabis businesses in Michigan are still being outlined, possible changes in the rules for applications could happen too. Do I need to keep a copy of the documents (application form, physician certification form, or required supporting documents) I send to the MMMP? How do I register as a patient (over age 18) with the Michigan Medical Marijuana Program (MMMP)? If you do, you may have been much better off just selling before opening, as you may have gotten a higher sale price with less investment and less hassle. Can I apply for a state operating license if I have a medical marijuana card? The MRA has more information online regarding specific communities. Go to one of Michigan's many recreational weed dispensaries, located throughout the state. Launch our Search utility. But Michigan regulators felt it was necessary to phase out caregiver contributions, to spur investment in licensed grow facilities. Make sure you are well assisted by an experienced cannabis lawyer that takes into consideration all the possibilities and is well aware of the norms. This is why it is so important to know how to comply with all regulations governing its use. Start Here. As another example, River Rouge area dispensaries are likely to have their sales cannibalized once Lincoln Park and Ecorse dispensaries open up to recreational marijuana. What will the costs be for a state operating license? And they will need to be renewed annually, which includes a fee of a similar amount. And here's a pro tip: Definitely don't wait in line at the dispensary, then waste the budtender's time by trying to engage about the best way to reach the cannabis buyer. Those same rules apply to a dispensary where cannabis businesses across the spectrum attempt to sell their products . While Public Act 547 of 2014, as amended, requires licensing for only in-state processing, handling, and brokering sites, businesses performing marketing activities must be licensed whether in-state or out-of-state. The MRA follows the same two-step application process for adult-use marijuana licensing. Put another way, thats about 35% more money in the sellers pocket compared to a straight cash out offer. Is the lab conducting the testing have any accreditations? o Michigan.gov/HempLaws (for laws and compliance assistance documents). However, if your business is involved in any of the following activities defined in PA 547 of 2014, as amended, a license would be required: Processing - Converting raw industrial hemp into a marketable form. We offer secure online consultations for long-distance patients and are . Who is a "managerial employee" of the applicant? All Content 2022 Cova. It costs $10.000 in-licenses fees, plus the application fees that are an additional $6.000. You can also send out email proposals to your prospective clients. Who is eligible to be an employee for a licensed facility? The state, If you have been arrested for driving under the influence of cannabis in Illinois, you need to contact an Illinois cannabis DUI attorney as soon, Copyright 2023 | All rights Reserved As recently as January, caregivers provided nearly two-thirds of the marijuana flower available on store shelves. Do I still need to report this on Schedule of Expenditures Service Vendors? As of right now medical marijuana growers can still sell to dispensaries. Luckily, Michigan is a legal cannabis state, which drastically reduces the stress of growing marijuana seeds at home. Wisconsin is now an island surrounded by a sea of legal pot, with medical marijuana being allowed in Minnesota and recreational use legal in Canada, Michigan and, most recently, Illinois. Will I be notified if my patient removes me as his or her caregiver? Medical Marijuana Dispensary License. Feminized Seeds Growing Cannabis Seeds in Michigan For the most part growing cannabis seeds is easy. These costs are not related to compliance, build out, payroll, or any of the other start up costs for your dispensary (provisioning center) in Michigan. How much is the fee? The majority of cities and townships in Michigan have decided to ban recreational sales, though more are planning to roll out locations 2021. A seed cleaner is involved in part of the process of converting raw hemp to a marketable form and would therefore need the processor-handler license. My Processor-Handler license expired November 30, 2021, and I have not been able to submit a renewal application yet. Unlicensed sale of any amount of marijuana is a felony. Michigans Marijuana Tracking Act requires the establishment of a statewide monitoring system that can integrate with third-party inventory control and tracking systems such as Covas Cannabis Dispensary POS Software in order to allow: Additionally, Michigan's Adult-Use Marijuana Emergency Rules state that licensees must use a third-party inventory control and tracking system that is capable of interfacing with the statewide monitoring system to track: Michigan has chosen Metrc as its official statewide marijuana monitoring system. Do not ignore the hierarchy or executive chain of command. Where should I submit my amendment documents? Well share how we did it if you complete the form. While this is OK for other industries, the Michigan Medical Marijuana industry is different. Michigan does not require hemp products be registered. Do I have to provide proof of my Michigan residency when I renew my registry identification card? I have questions about my Growers License who do I contact? What is the Annual Financial Statement (AFS) reporting period? How Much Does It Cost to Open a Dispensary in Michigan To get a provisioning center or retailer license in Michigan the application fee is $6.000. What do we need to do to sell our ingredients to product manufacturers that sell to Michigan dispensaries? For both the medical marijuana program and recreational marijuana program, the licenses available in Michigan are: Michigans Department of Licensing and Regulatory Affairs (LARA) is the agency in charge of issuing licenses to cannabis operators. The U.S. federal government still prohibits the use of . The responsibilities for hemp processors are primarily found in Section 7 and 11 of this law. All of our seeds are lab tested for genetic quality, hand picked just for you, and shipped directly to your door in . Hemp-derived topical lotions and tinctures with a THC concentration of 0.3% or less may lawfully be marketed and sold in Michigan with this license. Anyone under the age of 21 must provide a Michigan medical marijuana card. Although Michigan has legalized medical marijuana, recreational legalization hasn't quite happened. Who should I contact if I have questions regarding the Annual Financial Statements? Yes. We do not have a written agreement or contract. However, local municipalities may reduce this distance requirement or impose additional location requirements as they see fit. Several dispensaries have been licensed and approved, however several cities and townships have banned adult-use sales, or have not yet opted in to allow sales. Youll have to pay a nonrefundable fee of $6000 at the time of filing to defray the costs associated with the background investigations and fingerprint processing. Must my Annual Financial Statement (AFS) report include the financial dealings of the previous ownership that occurred during the reporting period? The list of conditions that qualify for medical marijuana in Michigan can be found here. This resource is for finding the closest legal weed shops to you. How do I submit deficiency documents/responses for my Annual Financial Statement (AFS) Report? When does a patient registry identification card expire? Land contracts and mortgages back to the seller are shockingly commonin the Michigan cannabis industry. Strict attention to compliance issues and regulations is required to apply for a permit to grow hemp in Michigan. Do such products need to be registered? If applying for more than one facility license, a separate FLA will need to be completed. Another consideration when valuing a dispensary is whether the dispensary is medicali.e. Dont miss out on our Marijuana Legalization Map where you can browse the current status of laws in every state in the United States and see all our posts on each of them. Does this qualify me for an adult-use marijuana establishment license? View Department pages to learn more about working in state government, connect with us on social media and contact department Equity and Inclusion Officers. The state, If you have been arrested for driving under the influence of cannabis in Illinois, you need to contact an Illinois cannabis DUI attorney as soon, Copyright 2023 | All rights Reserved Having said that, when representing buyers, this is generally one of the first questions they ask. Another way to do this is by marketing, though Im sure this isnt new news to most dispensary owners. Marijuana is legal in Alaska both for medical and recreational use. Can a Medical Marijuana Facility Licensing Act (MMFLA) licensee apply for any adult-use license type? If you are looking to sell your dispensary, give the experts atMichigan Cannabis Propertiesa call to set up a free consultation. That license is described in the Industrial Hemp Research and Development Act, Public Act 547 of 2014, as amended, and requires any person who is processing, handling, brokering, or marketing industrial hemp to be licensed as a processor-handler. There are new developments in the security sector that are offering dispensaries piece-of-mind. Adults may possess up to 15 grams of cannabis concentrate at any given time. Does the address on my application have to match the address on my Michigan driver license or personal identification card? The Michigan Marijuana Regulatory Agency, or MRA, is tasked with overseeing cannabis business licensing. Yes; medical marijuana patients can cultivate up to 12 cannabis plants at home. Ohio Governor John Kasich signed HB 523 into law in June 2016, allowing for the medicinal use of marijuana by those who have a doctor's prescription. Can a microbusiness obtain marijuana from a marijuana grower or processor? Cannabis licenses in every state of the United States tend to be a tricky situation, Michigan is not the exception. How do I add a caregiver or change to a different caregiver? Once completed the Packet and collected all required documentation, submit your pre-qualification packet either in person, by mail, or through LARAs online application portal. My business "cleans" hemp seed for a registered industrial hemp grower. Can I submit an incomplete prequalification application? Medical marijuana patients in Michigan may purchase up to 2.5 ounces of cannabis or equivalent product daily. So basically unless your buddy is licensed by the state and has approval from the city he is growing in you're going to be shit out of a luck. Visit MDARD's hemp resources page to learn about requirements concerning human food and beverage, labeling, weights, and measures, and more. How do I get a replacement registry identification card if mine is lost, stolen, or damaged? Initially, it was announced that for the first 24 months, applications would only be accepted from currently licensed medical marijuana operators. Dispensaries in a seemingly better general location may have sold for less than dispensaries in worse locations, and vice versa. What are the capitalization requirements for an adult-use license? You want to make sure to have the assistance of an experienced licencing lawyer that helps you prevent unnecessary risks. After that only licensed grows by the state of Michigan with approval of the city that they're growing in will be able to sell to dispensaries. If youre already operating a license just call us. How do I update my address on my registry card? Once put on the open market, the offers came in around $2.5M to $3M, despite the fact the company had spent a couple hundred grand extra on inventory and other items. Michigan Cannabis Properties specializes in offering listing services for Marijuana real estate owners as well as directory services for cannabis testing professionals, distributors, retailers, manufacturers, and cultivators. With savings accounts yielding less than 1%, getting a higher purchase price along with a 6% interest rate of return can be very attractive. The first is an application fee of $6,000, which must be submitted before the application can be processed. To sell marijuana to any person. It starts to add up real quick for just the business aspect let alone your grow inputs, https://www.michigan.gov/mra/0,9306,7-386-83746---,00.html. This license is for individuals who are qualified to acquire, possess, distribute and dispense marijuana. This applies to both physical and online sales activities. Can I rescind a physician certification that I already completed for a patient? Some municipalities have opted to restrict or prohibit the opening of retail stores. Detroit finally. Could you provide clarification on excess marijuana grower licenses? The second phase, or license qualification phase, requires more specific information for the specific licenses you are seeking. You are required to complete both Step 1 (Pre-Qualification) and Step 2 (Full Licensure) before you can open the doors and begin operations. Groups will make offers based off the potential of the listings' location, as there is no revenue or EBIDTA data that can be used when there is no revenue. Submitting a partial renewal application will not expedite license issuance. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer. Many of the customers coming from the northern suburbs found it easier to go to Ferndale or Hazel Park after they'd approved green zone operations, rather than drive the extra couple of miles to Detroit; which was further magnified by Detroits botched first recreational roll out. The adult-use market launched on Dec. 1, 2019. How do I update my address on my registry card? Try not to do this at peak hours like weekends, or the end of the workday. Dont miss out on our Marijuana Legalization Map where you can browse the current status of laws in every state in the United States and see all our posts on each of them. Michigan's Industrial Hemp Research and Development Act, PA 547 of 2014, as amended, requires any person who is marketing industrial hemp in Michigan to be licensed as a processor-handler. From medical dispensaries to the upcoming recreational stores, and even a 420-friendly doctor to help you serve your medical needs, you can find it all here. This is an initiative offered to veterans to receive assistance getting to the appropriate area under LARAs authority by speaking to a LARA employee who is also a veteran. No, youll need to pay with separate checks as these application types are not processed by the same agency. Does product have to go from a grower to a processor or can a grower sell product directly to a provisioning center? Some of the strains at this price include Purple Punch, London Pound Cake, Triple Chocolate Chip, Mendo Breath, Caesar, Mimosa, Cookies and Chem, Mac 1, Skunkberry, Tropicana Cookies. The state of Missouri allows qualifying medical marijuana patients the right to grow up to six flowering plants, six non-flowering plants, and six clones under 14 inches in height. Usually, an established dispensary will start to develop relationships with different producers and growers. Is there a limit on how many times an entity can change ownership? Licensed to practice since 2008, Thomas Howard has represented numerous financial institutions in litigation to enforce their security interests. This is also known as 'Step 1' of the state licensing process in Michigan. Point-of-sale software such as IndicaOnline has maximum-security data . Does this qualify me for an adult-use marijuana establishment license? Michigan voters elected to legalize recreational marijuana November 2018. Take a close look at the Certificate of Analysis (COA) to verify it is in fact for the product you intend to buy, and not some other stage of the process (for example, a COA from the hemp crop pre-harvest).