Webinar: What’s it Like to Run a Cannabis Company in Michigan?

ON-DEMAND WEBINAR

What's it Like to Run a Cannabis Company in Michigan?

Originally aired: March 15th at 12pm CST

In 2022, adult-use and medical cannabis sales in Michigan reached well over $2 billion, only three years after adult-use cannabis sales began in the state.

But the soaring revenue may obscure an unfortunate reality: the Michigan cannabis industry is dealing with many of the same pricing issues and slim profit margins that have been a fact of life in more mature cannabis markets in recent years.

In this on-demand Rootwurks webinar, you can hear two experts discuss the issues facing the Michigan cannabis industry and what it’s like to run a cannabis company in the state three years after the state's first legal adult-use cannabis sales began.

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About this Webinar

“Michigan has way too much weed.”

The lead of a Politico article from December painted a not-too-rosy picture of the legal cannabis market in Michigan.

According to Politico, the number of grow operations in the state doubled over the past year, and the state now has enough cannabis to supply three times as much as the state’s market requires. The article also states that the price of recreational cannabis has dropped by 75 percent over the past three years.

But just one month earlier, Michigan’s Cannabis Regulatory Agency (CRA) reported a record-high $221 million in revenue for adult-use and medical cannabis sales in the state, just three years after Michigan legalized recreational cannabis.

In the on-demand Rootwurks webinar, “What’s it Like to Run a Cannabis Company in Michigan,” you can hear Michigan-based Vicente LLP law firm partner Travis Copenhaver and Mario Porter, the owner of Michigan’s The Hempire Collective discuss where things stand with cannabis in Michigan, and the compliance and regulatory issues cannabis operators face in the state.

Who Can Benefit?

By 2023, legal cannabis has a firm foothold in the Great Lakes, with large and dynamic markets in operation in Michigan, Illinois, and New York. This webinar will benefit viewers who would like to know the latest about what is happening in the legal cannabis market in Michigan, and what it takes to run a cannabis company in the state.

Viewers will gain expert insight on:

What it’s like to run a cannabis company in Michigan today
What the cannabis compliance requirements are like in Michigan
How cannabis companies in Michigan are dealing with lower prices and oversupply
What the social equity aspect of the Michigan cannabis industry entails
What it costs to start and run a cannabis company in Michigan
The most important things for a cannabis professional to know about the industry in Michigan

Meet Your Speakers

Travis Copenhaver - Partner | Vicente LLP

Travis Copenhaver is a partner in Vicente LLP’s Michigan office. Copenhaver’s work focuses on cannabis business licensing, intellectual property, and regulatory compliance. Copenhaver also advises new and existing cannabis businesses in initiating, developing, and expanding their presence in the Michigan cannabis market.

Mario Porter - Owner and PR/Marketing Lead | The Hempire Collective

Mario Porter is an owner and PR/marketing lead for The Hempire Collective, a family-owned cannabis grow and dispensary in Clare, Michigan. The dispensary was founded in 2020 after family members saw how cannabis helped their brother Tai Porter, a 10-year US Army vet, alleviate his cancer symptoms, as well as the anxiety and PTSD that resulted from his years in military service. Since then, The Hempire Collective has grown into a thriving business that supports local initiatives, and invests in the community in a number of ways.