If Michigan Proposal 1 receives enough yes votes on November 6th, the state will become the eleventh to legalize the recreational use of marijuana. The Marijuana Legalization Initiative will allow individuals 21 or older to use or possess marijuana within Michigan’s borders and appears to be pretty popular with Michigan voters. Michigan recreational marijuana will become a much sought after reality.
Michigan Recreational Marijuana: The Next Big Cannabis Market?
Already, 272,215 people hold medical marijuana cards in Michigan, the second largest population of medical marijuana patients in the country after California. Michigan has had medical marijuana for ten years and its popularity continues to grow. If the initiative passes, Michigan’s recreational market will be the country’s second largest cannabis market, just behind California.
For Michigan, this means plenty of tax revenue. For Michigan marijuana entrepreneurs and investors, this means opportunity. Once legalization passes in Michigan, the marijuana market is expected to exceed $1 billion in sales yearly. While the specifics are not yet clear, the initiative, as it currently stands, would place the Michigan Department of Licensing and Regulatory Affairs (LARA) in charge of creating the rules under which Michigan marijuana dispensaries, currently known as provisioning centers, would offer legal recreational marijuana to adults.
Part of the rules that LARA will create will cover how Michigan provisioning centers can advertise and sell marijuana. This can often impact how large of a market share a marijuana company can generate. Advertising is essential for a company to share information and sales with its target demographic, and regulations often limit its reach.
Michigan’s 1st Commercial Cannabis Conference & Expo
If you are thinking of opening a Michigan recreational marijuana dispensary or expanding your medical marijuana provisioning center, you will want to make it out to the 1st Commercial Cannabis Conference & Expo from October 30th to 31st at Detroit’s Cobo Center. Meet other cannabis professionals, investors, and licensees.
Foottraffik’s CEO Guillermo Bravo will be speaking and hosting a session called: “How to Market Your Provisioning Center in Michigan” on October 30th at 4:45 pm in Room 140FG.
Don’t miss out on this great opportunity to discuss marketing your Michigan recreational marijuana provisioning center.
Get $100 off your conference tickets > Buy tickets now!
Foottraffik will also be exhibiting in Booth A24. Stop by, we’d love to meet you and share ways on how to build your online presence through proven, ROI-focused techniques that will help you drive foot traffic to your store.
Can’t make it to the conference? Be sure to download our Beginner’s Guide to Cannabis Dispensary Marketing.