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:
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.