Soon, Michigan entrepreneurs will have the opportunity to apply for one of five commercial medical marijuana licenses. This how-to book covers all the bases and will help those interested in applying get a jump-start on the competition.
Written by some of Michigan’s top legal and financial experts, this 230-page book includes essential information and advice about successfully running a medical marijuana business that that includes;
- Easy to understand summaries of the three Michigan Medical Marijuana Acts.
- Detailed descriptions of the five-available commercial medical marijuana licenses.
- Detailed instructions for applying for the license(s) of your choice.
- Instructions for creating a successful business plan, a necessary step in the application process.
- Information for identifying and protecting your business’ intellectual property.
- Advice on safeguarding your business and your employees.
- Information on financing and insuring your medical marijuana business,
- Accounting information that will assist you in ensuring proper accounting, record keeping, and tax compliance.
- Patrick T. Barone and Keith Corbett of the Barone Defense Firm.
- Jeffrey Ellis, senior tax partner in the firm of Edwards, Ellis, Stanley, Armstrong, Bowren, Krizan & Company, P.C.,
- William Honaker, Intellectual Property Law practice partner at Dickenson Wright, and
- Daniel J. McGlynn, Founder and Managing Partner of McGlynn Associates, PLC.
This is an exciting time for Michigan entrepreneurs because this new business opportunity is sure to create dozens of successful businesses earning excellent returns on capital. However, these businesses are not for the dabbler. Simply because you’ve run a successful grow operation as a patient or caregiver does not mean you can scale it and be successful. In this new, more competitive arena success will require teamwork, and your team should include lawyers CPAs and finance and investment professionals.
Also, capital requirements are likely to be significant. A recent meeting of LARA suggested the minimum capital requirement could be as much $150,000 for a Class A grower to $500,000 for a Class C grower. Similar requirements are likely to be imposed for the four other licenses available. Many think these numbers are low. So, while there is a potential for excellent returns on capital, there is also significant risk.
If you are considering applying for a commercial Michigan marijuana license, then this book is for you. It is available at all major online booksellers, including Amazon.
All proceeds from the book go to the Barone Winning Back Lives Foundation.