“There is competition in your local markets, and you know there are stores that are going to survive these challenging conditions better than others,” says Travis Copenhaver, Michigan Partner at Vincente Cannabis Law. But getting a license to sell the plant, some are finding, is different from operating a business. More than 100 new pot shops have thrown their doors open in the last year. There are some businesses that are struggling.” Over saturation in some areas, things kind of need to get evened out. “This has really affected the balance sheet of cannabis companies. Tax revenues from cannabis are allocated proportionately to cities and counties that permit the cannabis industry as. Michigan’s recreational marijuana products are subject to an additional 10 excise tax, also imposed by the state. “In some places, there was more supply, more licenses than there needed to be,” said Andrew Livingston, director of research at Vincente Cannabis Law. All Michigan marijuana purchases are subject to a 6 sales tax, including medical marijuana from dispensaries. West Michigan: cannabis shops face disciplinary action for various violations.This is all part of the business settling into a routine – with businesses determining where they stand on the retail food chain. That includes pot giant SKYMYNT, which announced earlier this week that it was laying off 143 employees and shutting down its grow operation in Windsor Township. “We’ve seen plenty of big businesses fail as well.” “It’s sad to see that somebody had a dream of coming into the cannabis space, mom and pop or big business,” he said. Small towns like Corunna and Owosso became the battleground for survival for retail marijuana Abro said. Abro’s is one of five dispensaries within a square mile. “As it’s growing, the competition is becoming more,” said Raymond Abro, chief operation officer of Jars Cannabis.Ībro has a location in Owosso, less than five minutes from where Discount Buds was operating. Black Friday frenzy: hits West Michigan cannabis shops.Discount Buds in Corunna recently shut down. In July, the Michigan Cannabis Regulatory Agency reported more than $270 million in sales in just that month.īut not every marijuana business is booming. The pot industry has boomed, according to state regulators - $1.7 billion in weed sales in the first seven months of 2023. Local governments worked to regulate the market, while a complicated licensure process played out at the state level.īut in 2018, voters approved recreational marijuana sales in the state and the market exploded. JARS Cannabis - Owosso located at 901 W Main St, Owosso, MI 48867 - reviews, ratings, hours, phone number, directions, and more. In 2008, following the legalization of medical marijuana, Michigan saw an explosion in dispensaries appearing in empty storefronts across the state. Free Delivery available daily All specials honored on day of placement.
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