Tag Archives: Medical marijuana

Medical Marijuana News Around the US

Recently, the President tried to defend the recent crackdown on the medical marijuana industry, including raids of legitimate businesses without explanation. While medical marijuana-sympathetic voters generally choose a democratic candidate, voters are now conflicted over who to vote for. Romney has strongly opposed legalization, and the only candidate who supports legalization is Ron Paul, who is trailing Romney badly in the polls. Meanwhile, state governments are dealing with their own legislation debates:

Colorado Asks Obama to Protect Jobs

Last week, President Obama visited the University of Colorado to reach out to younger voters, and cannabis activists took the opportunity to speak out against the recent government intervention in the MMJ industry.  In a press release, it was stated that the U.S. Attorney’s plan to target nearly 200 medical marijuana businesses would result in over 1,000 jobs being lost in the wake of a recession. Meanwhile, three Boulder dispensaries are shutting down this week after the government gave them an ultimatum of moving locations by May 7 or closing.

Hawaii Sees a Spike in MMJ Patients

Since last summer, the number of Hawaii residents with medical marijuana cards has grown by about 7,600 patients – 27% lift in nine months. Hawaiians with MMJ cards are allowed to use, possess, and grow limited amounts of cannabis, but dispensaries are not allowed to operate. This boost in numbers could help pass legislation allowing dispensary operation and in the meantime it will help the businesses of doctors, lawyers, and those who sell cultivation equipment.

New Hampshire and Connecticut Pass MMJ Legislation

The New England states still face opposition to the bills. New Hampshire’s governor stated that he would veto the bill, but there’s still hope for it yet – only 3 of the 11 Senators opposed the bill, and it is rumored that at least two would change their votes, effectively overriding the veto.  In Connecticut, however, the bill is moving to the Senate and their governor has already stated that he supports MMJ and is more likely to not veto the bill.

Connecticut Passes MMJ Bill

A Connecticut bill allowing medical marijuana use has been passed by Congress and is in the hands of state Governor Malloy, who says he plans to pass the bill. The bill contains some of the country’s strictest regulations for the cultivation and distribution of medical marijuana to try to bypass some of the problems the other 16 states face in legalization. A registry of patients will be established as well as a list of diseases approved to use the drug.

Be sure to find out what the status of legalization is in your state as well as which candidates support medical marijuana use and dispensaries.

 

 

 

weGrow Phoenix Dispensary Permits Seminar

weGrow Phoenix will be holding a Dispensary Permits Seminar on May 16th from 12:00 – 3:00 PM. This complimentary seminar will cover more information on the financial aspects of owning a dispensary as well as the legalities and process of applying for a dispensary permit.  The seminar will feature Ryan Hurley of Rose Law Group and Dhar Mann the founder and CEO of weGrow Store.

weGrow Phoenix Farmers Market

weGrow Phoenix’s Farmers Market on Sunday was a huge success! We had over 350 attendees and 30 vendors join us.  AZ Family, CBS 5, and ABC 15 covered the event Sunday night. Check out this video from AZ Family:


The event was made possible by a wide selection of vendors and services. Here’s just a few who came out:

 

 

Stay tuned to the weGrow Blog to find out when we’ll be holding our next weGrow Phoenix Farmer’s Market!

 

Dhar Mann: How to Identify a Promising Medical Marijuana Dispensary Opportunity

weGrow Founder and CEO Dhar Mann via MMJ Business Daily:

This is the second column in a three-part series.

Once you have carefully considered the unique challenges involved in opening a medical marijuana dispensary and the various ways to mitigate risk, the next step is to identify the right opportunity.

If you’re looking to capitalize on the “Green Rush” in a state that allows medical marijuana dispensaries, you likely have three choices: 1) invest in (or buy) an existing dispensary; 2) apply for a dispensary permit during an open registration process; or 3) launch a dispensary in a jurisdiction where no moratorium is in place.

Whichever approach applies to your situation, it’s prudent to assess the market opportunity before you start to invest a lot of money. In the second part of this series, I’d like to examine the important factors to consider when assessing the financial opportunity of owning a dispensary.

Before I dive into the details, I’d like to make one point of clarification. I will use the term “financial opportunities” frequently. With the exception of Colorado, each medical marijuana state requires you to be a not-for-profit entity. So the term financial opportunities refers to sales potential, not profit potential.

Artificial Scarcity

Why were dispensaries in Los Angeles, the second most populous city in the U.S., closing doors while a dispensary in Oakland reported tens of millions of dollars in sales? A large contributing factor is scarcity (or, in economic terms, artificial scarcity).

In cities and states where medical marijuana distribution centers are heavily regulated, there’s usually a larger financial opportunity.

Oakland, for instance, placed a moratorium on medical marijuana dispensaries to limit the number to four (although it recently increased this number to eight), effectively legislating an oligopoly. Los Angeles, on the other hand, did not cap the number of dispensaries. As a result, medical marijuana centers sprouted up in L.A. at a rapid pace, and in some cases two or three opened within one city block.

Which city offers the better opportunity? Oakland.

The same principle is at work when taxi medallions in major metropolitan cities sell for hundreds of thousands of dollars: Restricting the number of licenses limits the competition, resulting in a larger economic opportunity.

Read more at Medical Marijuana Business Daily.