In Michigan, recreational marijuana business is booming. On Wednesday, a recorded message from Arbors Wellness in Ann Arbor said that currently, the shop has a high number of customers, which is keeping them extra busy and they are therefore unable to answer calls. The overwhelming demand has even led to purchase limits being imposed by the retailers.
The sale of recreational marijuana in Michigan was launched on December 1 and since then, demand has been so high that businesses were forced to turn away customers at some point. On the first day of recreational sales, four shops generated an average of $221,000.
On Wednesday, Arbor Wellness owner, James Daly, said that they had a line of customers all day and that they are working through the lines professionally with a wait time of approximately 40 minutes.
Greenstone Provisions in Ann Arbor employees said that by 1 pm on Wednesday, the wait time to get served was about 2-hours. While on Tuesday, customers had to wait for 3 to 4-hours before getting served at Exclusive Brand’s dispensary in Ann Arbor.
Michigan Supply and Provisions in Morenci, located along the border with Ohio, is having a steady flow of customers; however, on Wednesday afternoon, no customers were waiting in line to be served.
On Sunday and Monday, Greenstone Provisions had to turn away hundreds of potential customers because it had run out of stock of marijuana buds. Since then, the retail outlets made a point of restocking daily.
Marijuana shops have been forced to institute a purchase cap on the amount of marijuana each individual is supposed to buy because of the massive demand. Greenstone Provisions, Michigan Supply, and Provisions in Morenci have instituted a sale limit of 7 grams of marijuana flower per person.
Arbor Wellness’ sale limit is 1/8 of an ounce of flower. They also have a purchase limit of two edibles, seven pre-rolled joints, and 15 vaping cartridges.
The only dispensary that did not institute purchasing caps is Exclusive Brands. On Wednesday, Omar Hishmesh, Exclusive Brands co-owner, said that they are not putting any sale limit since they are not going to run out of stock. He further noted that they are fully stocked and are actively re-stocking products; thus, no shortages.
According to Michigan laws, the sale limit for the flower is 2.5 ounces, which includes a maximum of 15 grams of concentrate.
In-store inventory is moving like a hotcake, which makes real-time resupplying difficult; however, business owners still insist product shortages will not happen any time soon.
Currently, there are three licensed recreational marijuana processing plants and one licensed transportation business in Michigan.
Greenstone Provisions and Michigan Supply and Provisions inventory is at the mercy of their competition since the three licensed processing facilities are owned by their competitors. The three facilities are owned by Exclusive Brands, Arbor Wellness, and Green Peak. Green Peak is the largest processing facility in Michigan, and it is planning on establishing retail locations across the state.
It would be interesting to hear what cannabis companies, such as Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) and Grapefruit Boulevard Investments Inc. (OTCQB: IGNG), have to say about how things are looking up for the industry in Michigan.
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