As the business owner, you get to decide if you want to hire a lawyer to help you draft your adult-use marijuana establishment business plan. However, before you make this decision, we encourage you to learn how a business lawyer can help you get your business plan approved and avoid future problems.
How to Get a Marijuana Establishment Business Plan Approved
You can’t begin operating a profitable business until the Michigan Marijuana Regulatory Agency (MRA) approves your business plan. A business lawyer can help prevent costly delays or a denied plan by ensuring that:
- All pre-licensure inspections are completed. If pre-license inspections are not done within 60 days, then your application may be denied.
- Your application is complete. If you submit an incomplete application, the MRA will notify you of the deficiencies and give you just five calendar days to submit the missing information.
Avoid Future Problems With a Well-Drafted Business Plan
Once your business plan is approved and your doors open for business, you want to avoid potential litigation and costly conflicts. Your approved business plan will include a:
- Technology plan
- Marketing plan
- Staffing plan
- Inventory and recordkeeping plan
If a problem arises with a vendor, customer, or employee, then the specific provisions of your business plan may help you defend your business if you followed the terms of the plan.
Marijuana businesses can be profitable. You have an excellent opportunity to start a lucrative business. However, you don’t want to risk everything by failing to get the necessary legal help when setting up your business and applying for state licensure.
Our experienced Bloomfield Hills business lawyers can navigate the complex laws and regulations that apply to your new marijuana establishment to help set you up for future success. Contact us today to learn more about how we can help you with the immediate issues of opening an adult-use marijuana establishment and with the ongoing issues of minimizing legal vulnerabilities so that you maximize your profits.