Click the link to find out more on how to get an MMFLA or MRTMA license. How long does it take to receive a registry identification card? The wholesale price for marijuana in Michigan is running $4,000 to $4,500 a pound, one of the highest prices in the nation. You can see the button on the lower right works even on desktop. Many of the big companies that were driving up the purchase price of state dispensary listings stopped buying, and this caused the prices to fall off a cliff. mixture of the right knowledge and legal experience, Land contracts and mortgages back to the seller are shockingly common, Choosing the Right Location for Your Cannabis Business, How to Sell Your Dispensary for Top Dollar, How To Make Your Cannabis Property Listing More Attractive: ATTACHING MUNICIPAL PERMITS. Make it as easy, seamless, and convenient for them as possible. You are required to complete both Step 1 (Pre-Qualification) and Step 2 (Full Licensure) before you can open the doors and begin operations. The majority of cities and townships in Michigan have decided to ban recreational sales, though more are planning to roll out locations 2021. However, when it was open, the revenue numbers were rather dismal as the partners seemed to have opened it just for the sake of opening, without making much of an attempt to market or proactively drive sales. But with the industry growing as fast as the medical and recreational cannabis industry in this legalized midwest state, the results of getting a license may be worth it. The buyer, on the other hand, saved half a million in upfront costs, which they could use to fully stock the inventory and for working capital. Can a federally recognized Indian tribe apply for a state license? While seller financing is not for everyoneand sellers need to make sure they have well drafted legal documents protecting their interestsit can be a good strategy to get a higher sales price. Point-of-sale software such as IndicaOnline has maximum-security data . In the public markets, cannabis companies tend to be valued based on revenue or occasionally EBIDTA (i.e. Class A is a Grower license for 100 marijuana plants, Class B is a Grower license for 500 marijuana plants, and, Allows applicants to begin the application process while still seeking a location for the proposed marijuana facility, It starts by filing an Entity/Individual Pre-qualification Packet. A designated caregiver must purchase medical marijuana for patients under the age of 18. Do I still need to report this on Schedule of Expenditures Service Vendors? Check CRA's website periodically as PA 547 of 2014, as amended, may be updated, and there may be additional requirements such as labeling for hemp products. Why is marijuana sometimes spelled with an "h" and other times spelled with a "j"? There are three different ways that a medical or adult-use cannabis dispensary can send daily compliance reports from their point of sale to Metrc: 1. View Department pages to learn more about working in state government, connect with us on social media and contact department Equity and Inclusion Officers. Discounts of up to 75% are also available to applicants belonging to a disproportionately impacted community on licensing fees and properties owned by the city land bank. Will CRA contact me after my Annual Financial Statement (AFS) report is submitted? The sale of less than 5 kilograms is punishable by up to 4 years in prison and a maximum fine of $20,000. How is your plant count determined as it affects your growing limited as a Class A, B, or C Grower Licenses? To get a marijuana business set up in Michigan, youll need to be aware of the laws and how to get licensed. Learn your next steps in your cannabis business. How are tags produced for seed-to-seed tracking? Unlicensed sale of any amount of marijuana is a felony. 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. Not only that, but the interest rates offered by sellers tend to be a lot less than the interest rates offered by private lenders in the industry, which currently hover around 12%. The Cannabis Regulatory Agency will establish Michigan as the national model for a regulatory program that stimulates business growth while preserving safe consumer access to cannabis. Additionally, under the Michigan Regulation and Taxation of Marijuana Act, adults aged 21 and older may cultivate up to 12 cannabis plants at home. Does this qualify me for an adult-use marijuana establishment license? How do I file an amendment for both Medical and Adult-Use marijuana licenses? By. Can I submit an incomplete prequalification application? In addition to medical marijuana dispensaries, beginning January 1, 2020, recreational dispensaries will also be allowed to apply for licenses to sell adult-use cannabis to the public. What should I do? For dispensary buyers, seller financing can save a lot of up-front money, which can instead be used to build out the inventory and stock shelves. Medical marijuana can be delivered to the home of any registered qualifying patient, even if the patient's jurisdiction does not allow dispensaries. Am I able to use another hemp processor's product (for example, CBD isolate) to create my own hemp product to sell? A brand or business needs to establish itself and pass specific regulations for their product to get into an actual store. a question thats on every cannabis entrepreneurs mind. Can a microbusiness obtain plants from a caregiver? Cannabis Business Lawyer & Founding Partner, Segev LLP, In November 2018, Michigan dispensary laws changed when voters approved the, Moreover, municipalities that had previously opted not to participate in legal marijuana will now have an opportunity to allow recreational cannabis. The Board had previously set, when the law first passed in 2019, as requirements for dispensary owners the following criteria: However, they are currently amending the requirements set on their webpage, which could potentially mean that they are making some changes to the applicability of those wanting to get a Cannabis license in Michigan. How do I submit deficiency documents/responses for my Annual Financial Statement (AFS) Report? When filing an amendment should the entity's operating agreement/bylaws be signed? What If You Get Caught With 25 Plants? When will my caregiver registry identification card expire? 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. Can you change the license type, or number of license(s) you are prequalified for without submitting a new application? 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. For instance, if a consumer is at home, they can possess up to 10 ounces of marijuana. How do I update my name on my registry card? If your application passes the prequalification step, then you will enter the second phase. How do I register as a patient (over age 18) with the Michigan Medical Marijuana Program (MMMP)? Feb 1, 2023. These establishments may not serve food or alcohol. Medical Marijuana Dispensary License. As of right now medical marijuana growers can still sell to dispensaries. You may also need to get approved and licensed by your municipality. Aside from the licensing application documents required in Section 7, there currently are no recordkeeping requirements for hemp processor-handlers. RELATED POST: MICHIGAN PRE-QUALIFICATION MARIJUANA LICENSE. Email: MDARD-IndustrialHemp@Michigan.gov I own multiple licensees that have common ownership. It is always best if renewal paperwork is received by the department as one complete packet. I have an active caregiver registry identification card and I recently was divorced/married and changed my name. Ahh I didn't realize you needed 150k in assets in order to get licensed as a Class A Grower and thought that you just had to pay the 4k for the license to start growing. 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. The Michigan Marijuana Regulatory Agency, or MRA, is tasked with overseeing cannabis business licensing. Everything you need to know about opening a retail cannabis location in Michigan. Cannabis Market Taxation and Regulatory Compliance Analysis Grant Program, EGLE: Cannabis Environmental Regulatory Information. Remember, your processor-handler license will not be issued until all required elements are submitted and processed. If you or your product manufacturers are selling or marketing industrial hemp, including already processed forms of hemp oils and powders, to Michigan dispensaries, a processor-handler license is required for all that are doing so. The beginning costs of a Michigan marijuana growing license includes a non-refundable application fee, as well as a regulatory assessment. My Processor-Handler license expired November 30, 2021, and I have not been able to submit a renewal application yet. Will being a registered patient/caregiver affect my ability to receive an adult-use establishment license? This is an annual license running from December 1 through November 30, and the fee is $1,350. From organic to exotic and everything in between, dispensaries.com has one of the most extensive list of pot cultivators on the market. Do not try to pitch cannabis products to dispensaries in another state. 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. 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. If youre already operating a license just call us. Lastly, cyber security can cause huge problems for a dispensary if their point-of-sale software is compromised. Can you explain what "green" zoning procedures are? Here, a quick word to the wise: you need to be VERY careful with text message marketing of both medical and recreational marijuana. May a medical secure transporter or safety compliance facility licensee hold an ownership interest in an adult-use grower A, grower B, grower C, processor, microbusiness, or retail establishment? What percentage of sales tax are medical facilities required to pay? Will I be notified if my patient removes me as his or her caregiver? Do I still need to report this on P8 Schedule of Management, Services, and Other Agreements? Some questions to consider: Do you need a manufacturing contract with the manufacturer of the CBD oil you intend to use? Those prices are then getting passed on to customers. 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. Watch out for real estate costs, which can really become the largest aspect of the provisioning center. It is the dispensary's job to identify the best products for their target market, which requires communication with grow ops, product samples, laboratory testing and more. 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. If applying for more than one facility license, a separate FLA will need to be completed. Can a CPA working in a bookkeeping firm prepare the Annual Financial Statement (AFS) report? Convenience and Clarity Matters to Gen X. 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). How to open a cannabis dispensary in Michigan a question thats on every cannabis entrepreneurs mind. Does a dispensary owner wait a year or more with the hope they can see a large sales boost once the city goes adult-use? A great location can attract a lot of interest, with groups doing their best to estimate their sales at that location and basing their offer on those estimations. How much marijuana can I possess as a caregiver? You can apply online, view application resources, and download application forms at the MRAs adult-use marijuana application page. You're taking their product and benefitting from it - again, a question for an attorney as this is out of CRA's regulatory authority. How much is the fee? 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. Must my Annual Financial Statement (AFS) report include the financial dealings of the previous ownership that occurred during the reporting period? How do I get a replacement registry identification card if mine is lost, stolen, or damaged? Does the MMFLA provide any protection for CPAs and financial institutions whose clients are licensed by or pursuing licensure with the state under the MMFLA? Applying for an Adult-Use License? 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. Detroit finally announced the rules for allowing licensed adult-use marijuana sales with a conscious effort toward giving social equity applicants a fair opportunity as well. Our number is in the lower right corner works even on desktop. You should probably budget about $500,000 to be on the safe side. But it's illegal to carry beyond 2.5 ounces of cannabis out in public. Sale of between 5 and 45 kilograms, meanwhile, comes with a maximum penalty of 7 years in prison and a fine of $500,000. The second step is license qualification, which includes providing more information specific to the type of license sought in this case, a provisioning center license. In certain circumstances, they may even do it free of charge to you since we can sometimes negotiate arrangements where we pay them directly through MCP as they help drive a higher sales price, which in turn means my company gets a bigger commission. In addition, processor law does not include any requirements about utilizing another manufacturer's product in creating your own. I am a Certified Public Accountant (CPA) conducting the Agreed-Upon Procedures report. The second step includes a review of the proposed retail establishment, including a physical inspection, as well as payment of the licensure fee once approved. But timing your sale can also be important with respect to yourspecific municipality and location. Can my application and physician certification serve as a temporary registration card? What documentation is required when applying for a medical marijuana state operating license? Not only that, but you can draft the purchase and sale documents such that you are not only OK if the buyer stops making payments, but you actually may hope they do as you can take back your property, keep the money theyve already paid, and sell it again! At Michigan Cannabis Properties, we work with data driven consultants that can come in and drive additional revenue to your dispensary in anticipation of eventually selling your dispensary. License fees in Michigan could go from $4,000 (the grower class A license), up to $40,000. Youll be required to provide the same information you submitted during the pre-qualification phase, with information regarding the municipality in which youll operate. Conversely, if you are looking to sell, you probably want to wait until after your municipality has verified its decision to opt-in to adult-use as that will boost your revenue and EBIDTA, which in turn will lead to a higher purchase price. How much is the fee? How much is the fee? Select your LEGAL WEED We do not have a written agreement or contract. RELATED POST: HOW TO GET A GROWERS LICENSE IN MICHIGAN, A marijuana provisioning center is defined under Michigan law asa licensee that is a commercial entity that purchases marihuana from a grower or processor and sells, supplies, or provides marihuana to registered qualifying patients or registered primary caregivers. But Michigan regulators felt it was necessary to phase out caregiver contributions, to spur investment in licensed grow facilities. As a processor or a grower, if I hire a caregiver, may I transfer their marijuana into my company? Or just click the city closest to you! Does my ownership for an entity licensed under both MMFLA and MRTMA have to match? If you are looking to sell your dispensary, give the experts atMichigan Cannabis Propertiesa call to set up a free consultation. || attorney & consultant marketing - collateral base firm, Developed By WorldWin Coder Pvt Ltd & Stumari. Can medical facilities process adult-use marijuana? Doing so will result in the most efficient and timely processing of your paperwork. 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. If anyone could give me a run down of everything that goes into the process of selling into dispensaries, it would be greatly appreciated. 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. Does the Agency allow licensing stacking? July 2, 2020 Jordyn Pair. Ensure that you mention precisely the cannabis product that you want to sell and its properties. Launch Search Michigan communities that have opted in to the MMFLA You should think about the unit location, area of jurisdiction in the current city, and standard operational expenses that apply to every dispensary. Feminized Seeds Growing Cannabis Seeds in Michigan For the most part growing cannabis seeds is easy. 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. How do I add a caregiver or change to a different caregiver? Anyone under the age of 21 must provide a Michigan medical marijuana card. Who is eligible to be an employee for a licensed facility? Michigan restaurants and bars will now be allowed to sell to-go alcoholic beverages, thanks to a new package of bills signed by Gov. Each license is exclusive to the license type issued and to the licensee. Land contracts and mortgages back to the seller are shockingly commonin the Michigan cannabis industry. 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. A marijuana dispensary license in Michigan costs around $44.000, plus additional application fees and the annual renewal. Oklahoma Dispensary Laws/Washington Dispensary Laws/Colorado Dispensary Laws/California Dispensary Laws/Maine Dispensary Laws/Missouri Dispensary Laws/Michigan Dispensary Laws/Illinois Dispensary Laws/Nevada Dispensary Laws/Montana Dispensary Laws/Alaska Dispensary Laws / New Jersey Dispensary Laws. Either way, you should get in touch with a cannabis license lawyer that could assist you in presenting a perfect application. If you want to learn how to open a Marijuana Provision Center in Michigan or apply for any adult use marijuana grower, processor, or transporter licenses, here is all the information you need. Weve won licenses in competitive limited markets, and open market states. Need a few pounds down in wv to Combat the opiate problem. Among states with legalized medical cannabis, Oklahoma had the largest number of dispensary licenses as of summer of 2021. Luckily, Michigan is a legal cannabis state, which drastically reduces the stress of growing marijuana seeds at home. And many of those . 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? There are also additional fees that are allowed by the MMFLA(Medical Marijuana Facilities Act). Licensed adult-use marijuana retailers may sell cannabis to adults aged 21 and older. All Content 2022 Cova. However, there is a method to the madness, as certain Michigan dispensaries knew how to best position themselves for eventual sale, or best structure the sale, while many others do not. Yes. Michigan residents with a state-approved medical marijuana patient card can purchase cannabis from medical marijuana dispensaries, called provisioning centers. What are the capitalization requirements for each type of license? What do I do? 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. Check out our interactive map and our favorite dispensaries below. Well share how we did it if you complete the form. It is illegal to use cannabis in a public place, such as on the street or at the park. The act allows adults of 21 years and older to possess up to: 2.5 ounces of cannabis flower in public, or 10 ounces at home. Detroit may not see its first recreational dispensaryuntil 2022 or possibly later. What do we need to do to sell our ingredients to product manufacturers that sell to Michigan dispensaries? The Cannabis Industry - Dispensary Profit Margins 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. Do companies need liability insurance to obtain a Processor-Handler License? To get a provisioning center or retailer license in Michigan the application fee is $6.000. Of course, this very well may happen again. Weve won licenses in competitive limited markets, and open market states. You will need a processor-handler license to manufacture and/or sell a hemp product. We know Detroit is looking to go adult-use, but the city cant seem to get out of its own way. Medical marijuana sales: Purchases are. Below is a map of all legally . How do I register a minor (under the age of 18) with the Michigan Medical Marijuana Program (MMMP)?