With the legalization of marijuana will come the oppoirtunity for Michiganders to become part of a booming industry. So what would it take to get a license, and eventually open up a dispensary?
“In order to get a license for your marijuana business in Michigan whether you are going to grow, or process, or transport, or test or provision you need to have a license from the state of Michigan and that license requires you have a business plan and a marketing plan and a whole lot of other stuff.”
That was Roberta King, owner of Canna Communications, a PR marketing firm for businesses in the cannabis industry, she helps get clients ready to apply for a license.
A license requires a criminal background check, and a financial check. To just get started, an applicant needs to demonstrate at least $200,000 dollars in liquid and real assets.
“It isn’t a business for the faint of heart or inexperienced. I think its one of those things that experienced people, experienced business owners will excel at and entrepreneur will struggle with.”
To put this into perspective, consider that it only requires $50,00 dollars in assets to open up a liquor store in the state of Michigan.
To prepare for the upcoming ballot approval, in June the Grand Rapids City commission unanimously approved marijuana medical dispensaries.
I am Michelle Jokisch Polo, and this is Mutually Inclusive for WGVU News.
*Mariano Avila contributed to this story.