Since Michigan’s recreational/adult-use cannabis market officially launched Dec. 1st, 2019, the adult-use industry has maintained steady growth and sales, with product in high demand. Even on the first day, consumer demand was “off the charts,” and provisioning centers had patrons lined outside the door and around the block.
While some markets are struggling during the COVID-19 pandemic, sales have generally been strong for the cannabis industry, with dynamics and figures varying state to state. In Michigan, adult-use sales are increasing each week. According to MLive.com, recreational marijuana sales totaled $10.02 million between June 8 and June 14. This beat out the medical marijuana market’s $9.97 million in sales for the same time period.
This is important and record-breaking milestone for the recreational marijuana industry; however, there are obstacles that continue to affect sales.
Shifting to the Adult-Use Cannabis Market
The adult-use market is clearly already substantial and appears to be gradually increasing. Cannabis is becoming more and more accepted with the anti-cannabis stigma gradually dissipating. Additionally, some medical marijuana patients are appearing to be moving to the recreational market. If you are an entrepreneur interested in getting into the adult-use cannabis industry, now is the time to get on board.
The Marijuana Regulatory Agency (MRA) continues to streamline their application process and requirements. Despite the pandemic, they are working diligently to process applications and award licensing approvals. However, one of the biggest hurdles for those trying to break into the adult-use industry is finding a location.
The Problem with Municipalities “Opting-Out”
At this time, there are still around 1,400 of Michigan’s municipalities not allowing adult-use cannabis sales. Those who have been looking for property with no avail may be feeling discouraged, but even with the lack of participation from municipalities, there are still ways to find the best possible location for your business.
How to Find Real Estate For Your Cannabis Business
Cannabis Legal Group has connections to cannabis real estate brokers which can find potential commercial cannabis real estate for your business. Lobbying and municipal research is also a service a cannabis attorney can provide you.
Working with an experienced Cannabis attorney is essential in pinpointing the proper location for your business and connecting you to municipally permitted real estate. With both the adult-use and real estate market simultaneously booming right now, there is no better time to get started on your licensing journey.