GrownIn Magazine shares that with more retail marijuana provisioning center licenses than any other state east of the Mississippi, Michigan cannabis retailers are feeling the crunch:
A report from Grown in last August showed over 700 active dispensary licenses in the state. Dozens more have come online since then.
Meanwhile, Michigan has seen a wave of big company mergers, including New Standard’s purchase of three Agri-Med cannabis dispensaries in West Michigan; TerrAscend’s pending acquisition of Gage Growth Corp., Skymint’s purchase of 3Fifteen Cannabis last September, and PharmaCann’s purchase of LivWell in October.
The consolidation wave doesn’t completely eliminate opportunities for minority, or micro and small operators even if it takes them longer to raise capital and become established, says Denavvia Mojet, executive director of the Black and Brown Cannabis Guild.
“Especially in communities of color,” Mojet told Grown In Wednesday. “We already know that entrepreneurship takes a great deal of resilience and I think we’re coming into a market where consumers have been waiting–in a lot of places–for opportunities to support some of the people of color brands and companies.”