August 28, 2017 –
(Pictured above are the Board of Directors from the BMMR)
We had the pleasure (or in some people’s opinion, displeasure) of being able to attend Michigan’s Bureau of Medical Marihuana Regulation’s board meeting this past Monday.
For those of you who are not aware, this is the centralized regulating body that was set up in April of 2017 in order to oversee the enforcement of licensing requirements, along with the functions of the state’s patient and caregiver registry (for more information visit Michigan.gov/medicalmarihuana).
The meeting started off on a sour note- after the board members announced that they would require all existing dispensaries to shut down their operations as of September 5th of this year. Gasps could be heard throughout the venue as patients questioned how they would now be able to obtain cannabis to help treat their illnesses. Uncertainty and anxiousness ran across business owners faces who are already struggling to make ends meet.
However, as unfortunate as this news was, I always like to try and shine a positive light on any negative situation. When I was in Florida a few months back for the South East Cannabis Conference– thousands of attendees walked the arena wondering if additional licenses would ever be handed out. At that time, only 4 businesses had a license to open a dispensary, after that meeting a vote took place and a whole 7 additional licenses were approved.
It has been common knowledge for some time that Michigan plans to open up licensing applications to all December 15, 2017. Although it is unfortunate that so many people (over 240k active patients in the Michigan registry) will be affected by the news of the shut downs, it’s important to note that Michigan is making great strides towards putting a process in place for the future of the cannabis industry in the state. By enforcing a shutdown, they will be able to take the time to create a proper protocol, while also being able to ensure uniformity amongst all businesses in the process.
As the almost billionaire, and star of the television show The Profit always points out- PROCESS is essential in making sure any business is successful. And, in this example, it is important to the future success of a huge industry; in a state that is already taking great strides relative to others.
Please respond with your thoughts and share so we can keep the rest of the state up to speed with what’s going on in the industry. Also, tune in next week for another one of my weekly blogs!