marijuana business

Examining the First Week of 2020 for the Michigan Cannabis Industry

2020-01-13T09:56:14-05:00January 10th, 2020|

As of Jan. 2nd, 2020, Michigan's Marijuana Regulatory Agency (MRA) has issued 54 recreational marijuana business licenses, including 27 to retail stores. This is nearly double the number of licenses that were expected to be issued by Jan. 1st, according to the agency. Recreational Marijuana Sales  Recreational (adult-use) marijuana sales in Michigan neared $6.5 million [...]

Where Can I Buy Recreational Marijuana in Michigan?

2020-02-12T09:22:39-05:00December 9th, 2019|

On Dec. 1st, hundreds of people lined up in Ann Arbor to buy marijuana during the first day of Michigan’s legal adult-use (“recreational”) sales. The first day raked in approximately $221,000 in profits, marking a successful first day for sales of recreational product. This is despite there only being three provisioning centers (“dispensaries”) licensed to [...]

What is the 10% Rule for Michigan Cannabis Licenses? 

2019-11-14T10:56:44-05:00November 13th, 2019|

All Michigan cannabis licenses start with a prequalification application. Prequalification is the State of Michigan’s background check process for entities and individuals hoping to own and operate marijuana establishments. Prequalification involves a significant audit and review of the applicant entities financial and operational history, as well as a review of all significant stakeholders and their [...]

Is It Too Late to Get Into the Legal Cannabis Industry?

2019-10-11T10:37:10-05:00October 11th, 2019|

The legal marijuana industry grew to $10.4 billion in 2018 in the United States and employs more than 250,000 people, according to research firm New Frontier Data. With the cannabis industry booming and changing constantly, it may seem overwhelming and deterring if you’re thinking of breaking into the industry. You might ask: is it too late to [...]

MRA Announces Social Equity Program Expansion

2019-10-03T08:38:39-05:00October 3rd, 2019|

On October 2, 2019 the Michigan Regulatory Agency (MRA) announced that the Social Equity Program would be expanding eligibility to those who have been disproportionately impacted by cannabis laws and enforcement. What is the Social Equity Program? The program is designed to encourage participation in the marijuana industry from those in residing in disproportionately impacted [...]

When Should I Update my Cannabusiness Bylaws?

2019-06-26T14:54:46-05:00May 31st, 2019|

Bylaws are written by or on behalf of a corporation's owners at the time of its founding. However, even if these are the rules that direct the company's operations, they're typically not revisited unless an issue arises. If you haven’t reviewed your bylaws since your corporation's founding, there are signs that may suggest revision.  Has [...]