The marijuana industry in Michigan is getting more popular by the day. Investors recognize the potential it holds to create massive business opportunities. Among the many possible business ideas, a commercial growing company is one of the top picks. With this idea, you’ll start a Michigan marijuana business that grows marijuana and can also distribute it.
The Michigan marijuana industry is proving to be very interesting at the moment. There are more and more medical marijuana businesses popping up at all times, and it’s becoming a highly profitable business idea.
If you’re interested in investing in this market and starting a business of your own, then here are a few critical points that you must consider:
As many business owners are already aware, Proposition One has passed, and the ownership and use of recreational marijuana are officially legal as of December 6, 2018. Many anticipate that this will further stimulate the growth of the marijuana industry in the state and are looking to get their license to grow marijuana for personal or commercial purposes. But what do you need to know about obtaining a Michigan grower’s license?
The cannabis industry is still in its infancy. Not necessarily a “cottage industry” but certainly not nearly as advanced as many agriculturally dependent business marketplaces. However, that infancy has not led to a low-cost entry point when trying plan a commercial marijuana start-up. Equipment is expensive, renovations are often complex and costly because in many cases municipalities limit commercial marijuana businesses to industrial zones, occupied by old factories, which need a lot of work to bring them in line with their new purpose.
Short answer, yes. However, there are plenty of things you can do to help make the process easier. That’s where Hunter Green Consulting Group comes into play. Rather than talking about making things easier, though, this article focuses on some of the hurdles that investors and cannabis business owners face in almost every market where commercial licenses in the marijuana industry are available. Whether you are interested in a cultivation license, a processing and manufacturing license, or a retail sector license, there are some hurdles common to all of these license types that are important to understand.