Frequently Asked Questions About Marijuana Microbusinesses
What is a microbusiness in cannabis?
A microbusiness is a smaller production marijuana enterprise that is typically vertically-consolidated. Microbusiness licenses allow for less square footage of growth, sometimes lower amounts of employees, and generally limit inventory to being completely produced on-site. These microbusinesses have a lower barrier to entry in getting a marijuana dispensary off the ground.
How do I get a microbusiness license?
First, you will need to start your business in a state that has a microbusiness licensing program. These states are CA, CT, IL, MA, MI, NM, NJ, VT, and VA. Find your selected states marijuana control board licensing website and follow the instructions on how to apply for a microbusiness license, ensuring that you will meet all the criteria to be accepted.
How much is a microbusiness license?
Microbusiness licenses vary greatly by state. In California, the vertically-integrated microbusiness license fees range from $5,000 to $300,000, depending on the size of your operation. In New Jersey, on the other hand, the retail-only microbusiness license fee is reduced to $1000, as opposed to the regular $10,000.
What states have the most microbusinesses?
California has by far the highest amount of licensed marijuana microbusiness, with over 300 entities. Massachusetts and Michigan are next up with about five licensed microbusinesses in operation. In the near future, New Jersey and New Mexico are poised to start licensing new businesses.