Marijuana dispensaries in Michigan are permitted to sell both medicinal and recreational marijuana to anyone over the age of 21 with a valid I.D. 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 this means is that you must know the market to decide when the best time is to sell. Cannabis Regulatory Agency Licensing & Statistical Reports, Statewide Marijuana Monitoring System Information - Metrc, Apply, amend, renew an adult-use establishment license, Apply, amend, renew a medical marihuana facility license, Apply, amend, renew a patient or caregiver medical marijuana card, Apply for or renew a Social Equity application, File a petition for the medical marijuana review panel, Approved grants and the grant approval process, Licensees that have had disciplinary actions taken against them, Tips for licensees, technical or advisory bulletins, The number of previously approved applications or licenses, https://dev.michigan.local/som/json?sc_device=json, Annual Financial Statement Questions for FY23, Annual Financial Statement Questions for FY20 and FY21. In the drop down menu for "License Type," select "Provisioning Center - License." 3. How much marijuana can I possess as a caregiver? I have a hemp license under the industrial hemp program. 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%. If I was prequalified for multiple licenses do I need to obtain all of them before my prequalification expires? July 2, 2020 Jordyn Pair. How do I update my address on my registry card? Why is testing of marijuana products required? But that is coming to an end real fast. Today, there. However, local municipalities may reduce this distance requirement or impose additional location requirements as they see fit. Here, a quick word to the wise: you need to be VERY careful with text message marketing of both medical and recreational marijuana. Cannabis Regulatory Agency Licensing & Statistical Reports, Statewide Marijuana Monitoring System Information - Metrc, Apply, amend, renew an adult-use establishment license, Apply, amend, renew a medical marihuana facility license, Apply, amend, renew a patient or caregiver medical marijuana card, Apply for or renew a Social Equity application, File a petition for the medical marijuana review panel, Approved grants and the grant approval process, Licensees that have had disciplinary actions taken against them, Tips for licensees, technical or advisory bulletins, The number of previously approved applications or licenses, https://dev.michigan.local/som/json?sc_device=json. There is another category, covered in section 15.4 of the Michigan Regulation and Taxation of Marihuana Act (MRTMA). Under state law, cannabis retail establishments cannot be located in areas zoned exclusively for residential use or within 1,000 feet of any school for grades K-12. For instance, if a consumer is at home, they can possess up to 10 ounces of marijuana. By the beginning of 2020, both Illinois and Michigan dispensaries will be freely selling marijuana. Once all information is received and confirmed to be correct, your license will be issued. How much is the fee? There are two fees associated with the adult-use marijuana retail license in Michigan. 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. Although medical marijuana has been legal in Michigan since 2008, there was no allowance for dispensaries; however, the new legislation set up a framework for the licensing and operating of medical marijuana dispensaries, which Michigan refers to as provisioning centers, along with adult-use retail stores. What should I do? Moreover, municipalities that had previously opted not to participate in legal marijuana will now have an opportunity to allow recreational cannabis. Who should I contact if I have questions regarding the Annual Financial Statements? Michigan residents with a state-approved medical marijuana patient card can purchase cannabis from medical marijuana dispensaries, called provisioning centers. Highest rated medical dispensaries in Michigan As noted above, Michigan's path to allowing recreational cannabis in 2018 first began with the approval of medical sales in 2008. Can I sell edible products off a food truck? What are the most common types of capitalization used in a CPA Attestation? Do not pitch products with incorrect labeling. Learn how to remain compliant with Michigans cannabis retail laws. Am I required to submit an Annual Financial Statement (AFS) report if my license has been closed or not renewed? If applying for more than one facility license, a separate FLA will need to be completed. Does product have to go from a grower to a processor or can a grower sell product directly to a provisioning center? How is the excess marijuana grower license fee assessed? However, equally important to note is that this percentage varies in . For now, there are only medical dispensaries available to [] This is also known as 'Step 1' of the state licensing process in Michigan. There is an additional $100 fee to cultivate . Retail Innovation Labs LLC Trading as Cova Software. Do I have to be a resident of the state of Michigan to obtain a patient registry identification card? Initially, it was announced that for the first 24 months, applications would only be accepted from currently licensed medical marijuana operators. As an example, we were working on a deal where the cash out price was $850,000, and the seller financed price was $1M, with about 30% down, a three year carry at 7% interest rate, and final balloon payment at the end of the three-year term. If youre looking to grow, process, or sell cannabis, ourCannabis Attorneyscan help you procure the proper licenses and our agents can help you find a property. Do I still need to report this on P8 Schedule of Outsourced Services? You just organize the transaction differently. So, what drives the valuation of these dispensaries? A microbusiness license allows the holder to grow up to 150 plants, process flower into marijuana products such as edibles and extracts, and sell direct to the consumer, all with one MRTMA license. 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? The application fees are around $6,000. The Basic Steps to Making Money Selling to Dispensaries. 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. Can plants or other marijuana product be bought from caregivers? 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. As the legalized recreational marijuana industry continues to grow in Michigan, more and more businesses are opening for business. Should I submit my full application (Step 1 and 2) together? You can also send out email proposals to your prospective clients. Adults who are . 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. Who is a "managerial employee" of the applicant? To sell marijuana to any person. Patients wishing to grow medical marijuana in Missouri must first obtain an ID card from the Department of Health. Is the lab conducting the testing have any accreditations? How much is the fee? But timing your sale can also be important with respect to yourspecific municipality and location. Usually, seller financing is a verified win-win for both buyers and seller. In November 2018, Michigan dispensary laws changed when voters approved the Regulation and Taxation of Marijuana Act, making the Great Lake State the 10th in the U.S. to legalize recreational cannabis. Since the consultants we work with tend to do a lot of business with the bigger Michigan cannabis brands, oftentimes we find that they can help negotiate lower wholesale prices for these products, which can improve both revenueandmargin. Everyone involved in your business will have a background check during this phase. 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. 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. If a current application is under review by the Agency, can I change the ownership? If you are looking to sell your dispensary, give the experts atMichigan Cannabis Propertiesa call to set up a free consultation. Medical Marijuana Dispensary License. What is a CPA Attestation and what is required to be included? How will the Agency accept fees and taxes? The second fee is an annual regulatory assessment, which must be paid prior to the license being issued. How should I submit my Annual Financial Statement (AFS) report? I plan on seeking multiple licenses from the Agency, do I have to pay the $6,000 application fee for each license? Find out how Michigan will monitor commercial cannabis activity here. 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. When does a patient registry identification card expire? Many of these same dispensaries are now receiving offers at a fraction of what they were receiving in 2018. How do I update my address on my registry card? Ive been approached by radio stations that have recently begun to open up to advertising cannabis business and brands, with a few odd restrictions (such as not mentioning the word THC), but there are other avenues for marketing other than billboards and Weedmaps. A provisioning center may offer home delivery once the facility's delivery procedures have been provided to and approved by the MRA. Once approved for a license, the initial licensure fee for an adult-use marijuana retailer is $25,000. All rights reserved. The process was set to be complete by September 2020. The industry is getting a lot of attention for its impressive growth in such a short amount of time. We can help you receive top dollar for your Michigan dispensary property. You will need a processor-handler license to manufacture and/or sell a hemp product. Website links: Many 8 Mile dispensaries were seeing eight figure offers. If youre already operating a company just call us. The first is an application fee of $6,000, which must be submitted before the application can be processed. We work closely with our trusted team of growers to ensure the integrity of our product. But Michigan regulators felt it was necessary to phase out caregiver contributions, to spur investment in licensed grow facilities. 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. 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. Press J to jump to the feed. How much is the fee? Don't drive while consuming or immediately afterward. There are two fees associated with the provisioning center licensing process. Will I need a physical location for my business, or can I use my personal address until I find a location? When will my caregiver registry identification card expire? Land contracts and mortgages back to the seller are shockingly commonin the Michigan cannabis industry. The Michigan Marijuana Regulatory Agency, or MRA, is tasked with overseeing cannabis business licensing. Among states with legalized medical cannabis, Oklahoma had the largest number of dispensary licenses as of summer of 2021. Who is eligible to be an employee for a licensed facility? 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. 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. What do we need to do to sell our ingredients to product manufacturers that sell to Michigan dispensaries? Ensure that you mention precisely the cannabis product that you want to sell and its properties. Do I still need to report this on Schedule of Expenditures Service Vendors? As the #1 place to buy marijuana seeds in Michigan, Pacific Seed Banks is proud to bring you top quality, fully feminized cannabis seeds. 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. Michigan's MRA began accepting adult-use cannabis facility license applications on November 1, 2019 only from persons currently holding a medical marijuana operating license. Keep in mind that with just a few exceptions, it's generally illegal to consume cannabis in public. If a wholesaler, distributor, or retailer wishes to sell topical lotions or tinctures with CBD (and less than 0.3% THC with no health claims, nutritional/caloric values), do they have to possess a processor-handler license? For the sake of perspective, this is slightly higher than a Whole Foods and much more profitable than the typical pharmacy. How should those disbursements be reported on the P3 Schedule of Disbursements? Medical facilities will be authorized for recreational sales as of January 1, 2020. Will the Agency contact me after my Annual Financial Statement (AFS) report is submitted? Try not to do this at peak hours like weekends, or the end of the workday. Another consideration when valuing a dispensary is whether the dispensary is medicali.e. Where can I find more information on each type of license? Could you provide clarification on excess marijuana grower licenses? 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. To renew your expired processor-handler license, you are required to submit your completed renewal application, along with the license renewal fee, and all required documentation. Here is all the information you need. Dont be one of them. Can I submit an incomplete prequalification application? What are the zoning restrictions stated in the MMFLA and what are the distances licensees are required to be away from certain buildings like schools, churches, etc.? One thing that the pandemic did was give us all a lot of time in the kitchen. Report to Metrc manually With this method, data is exported from your cannabis point of sale software via a CSV file, configured to correct formatting, and then uploaded manually to Metrc. Obviously, you can start with a call to the dispensary. Adapt. Can a microbusiness obtain plants from a caregiver? Retailer: With a marijuana dispensary license, you can sell medical marijuana and other marijuana products, including plants and seedlings. Although medical marijuana has been legal in Michigan since 2008, there was no allowance for dispensaries; however, the new legislation set up a framework for the licensing and operating of medical marijuana dispensaries, which Michigan refers to as "provisioning centers," along with adult-use retail stores. There are new developments in the security sector that are offering dispensaries piece-of-mind. Here's a list of Michigan's Recreational Marijuana Dispensaries: Ann Arbor Healing - 3720 Washtenaw Ave, Ann Arbor MI 48104 Arbors Wellness - 321 E. Liberty St., Ann Arbor MI 48104 Battle Creek Provisioning - 1525 W. Michigan Avenue Suite 11 & 13, Battle Creek MI 49037 Battle Spring - 2245 W. Columbia Suite 119 & 120, Battle Creek MI 49015 My Processor-Handler license expired November 30, 2021, and I have not been able to submit a renewal application yet. Can I apply for a state operating license if I have a medical marijuana card? I utilize another company to handle a type of service necessary for the operation of my licensed entity. Cannabis licenses in every state of the United States tend to be a tricky situation, Michigan is not the exception. An overview of the medical and recreational marijuana laws in Michigan. Who can prepare the Annual Financial Statement (AFS) report? Many localities have stated an intention to grant approval later as the market develops. Usually, an established dispensary will start to develop relationships with different producers and growers. The application fee must be paid before the application can be processed. What may potentially prevent an applicant from getting approved for a state operating license?