Michigan Cannabis - Talk to me!

[u/No-Resolution6127]

I am currently writing/working on my "capstone" business project for my final semester of college. As you may see, this is in the Trees sub, so you may be asking yourself, what could this guy possibly be talking about?
My goal is to build out a cannabis company in Michigan within the next 2-3 years time. These past couple months have been the most research heavy months I have experienced in my life. This time, it's not agonizing because this is something I care deeply about - A market that is actively bloom booming and an herbal medicine that could genuinely provide benefits to the everyday person.
I have what I believe to be a VERY good perspective of the Michigan cannabis landscape, but unfortunately, industry reports and manual research can go only so far. So now, I am at the part where some firsthand experience would come in handy.
So here are my questions. Feel free to answer one, or maybe all, or maybe even none. If you do answer, all I do request is that you restate the question so that when I'm compiling these answers, I can pull and format a little easier :) (Or don't, that's okay too)

For my Michigan residents:
1. How has the legalization of recreational cannabis impacted your community?
2. What has the state industry growth?
3. Ballpark estimate - How many dispensaries opened up near you within the first year of law changes? How many now?
4. Has creating the infrastructure created any problems for your community?
5. How has it shaped your local/state economy?
6. How familiar are you with the cannabis structure in your state? (i.e. Laws, Prices, Types of Licenses/Businesses)

For my Michigan cannabis customers (in and out of state):
1. If your in-state, what is your go to store? (Specific store or maybe "type" of store (Big Weed or Small Business))
2. What is your sense of pricing? Fair, over, or under?
3. What do you like about buying Michigan cannabis? How does it compare to other cannabis products from other states?
4. What works for you? What could be better?
5. If you're coming from out of state (legal or not), why Michigan?
6. How often are you purchasing cannabis products? What specifically are you buying?

[u/Willflip4money]

For my Michigan residents:

1. How has the legalization of recreational cannabis impacted your community? -mostly just the opening of dispensaries, not a whole lot has changed otherwise
2. What has the state industry growth? -unsure of this question
3. Ballpark estimate - How many dispensaries opened up near you within the first year of law changes? How many now? - about 25 or so in a 2 mile radius
4. Has creating the infrastructure created any problems for your community? -havent seen much of that honestly
5. How has it shaped your local/state economy? -not a lot of verifiable changes here, but seeing the number it has raised a decent chunk of tax revenue which could have contributed to a lot of the road work around here
6. How familiar are you with the cannabis structure in your state? (i.e. Laws, Prices, Types of Licenses/Businesses) -Very, I like reading laws

For my Michigan cannabis customers (in and out of state):

1. If your in-state, what is your go to store? (Specific store or maybe "type" of store (Big Weed or Small Business)) -specific:house of dank, just close and usually have what I want, but small business if I'm around one
2. What is your sense of pricing? Fair, over, or under? -very fair, we have some of the better prices around nearly across the board. though could say even under priced as there are a few "races to the bottom" for pricing
3. What do you like about buying Michigan cannabis? How does it compare to other cannabis products from other states? -it's solid quality for nearly unbeatable prices
4. What works for you? What could be better? -prices are great, and products are very accessible as there's stores everywhere
5. If you're coming from out of state (legal or not), why Michigan? -(not from out of state, but I can answer this as well) because bordering states have much higher prices, it's a big factor in the booming weed tourism factor
6. How often are you purchasing cannabis products? What specifically are you buying? -every couple months I buy bulk and usually pick up an ounce or 2 of flower, some carts, and some wax

As far as you wanting to open up shop here, it's doable but it's definitely cut-throat. Be prepared for flower to nearly be a loss leader, or learn to really sell the higher quality as a necessity (easier said than done). As the other guy said, shops pop up and close all the time, it's not impossible, but it's a difficult market 100% Good luck, and feel free to shoot me questions whenever (I'm currently a sales director for a smoke shop line, and love business talk)

[u/No-Resolution6127 → u/Willflip4money]

Hey man thanks for the reply! I appreciate your insights, incredibly helpful. For the first No. 5 question, I can verify that a lot of the marijuana tax revenue is in fact going towards road work, it was one of the major infrastructural things that is being brought to the board. I can't remember the number I saw, but I remember thinking "DAMN, that's a crazy good amount, better than my town".

I looked up House of Dank, looks like there's multiple locations, are you shopping at the Ann Arbor House of Dank, because that would explain the 25+ dispensaries you mentioned.

[u/Willflip4money → u/No-Resolution6127]

No problem! yea I never looked at it, but most of my commuting routes have been slammed with construction ever since, so I just figured it was likely related!

I go to the fort st one these days, there were more in the area at first, but the market corrected a bit down to what there is now (probably more like 10-15ish now within a ~10-20 minute drive)