Passion and belief in the product is not enough in Massachusetts, especially if the product is marijuana. Jeffrey Roos, CEO of Mass-Medi Spa has personally experienced that growing and selling marijuana can be expensive and a cumbersome process. After three (3) years and about $300,000 into their journey to open a dispensary, Roos and his team are still waiting.
While he considers it an uphill climb, Roos said that his team is still on track and still very positive of his passion for medical marijuana. “Getting the medicine out there is my number one motivation”, he added.
While medical marijuana is not something for the casual investor, Roos said that the following steps may prove useful:
- Get your crew together and you need someone with industry experience which includes a medical professional, an agriculture expert and a security specialist;
- Find a suitable place which will clear special zoning or permissions;
- Get your money right which will start with $1,500 for initial application and prepare to show that your corporation has $500,000 on hand;
- Secure and complete legal papers starting with the initial application of intent and if approved, prepare for more paperwork