Should I Stop Selling Pot or Not?

small towns across Michigan in the 1980’s and 90’s. In 2001 a large corporate cable company offered to buy all of his systems and customer accounts at a price substantially higher than they were worth—he made an easy decision, sold the systems, and retired young. He came out of retirement when marijuana was legalized for medical use in Michigan and opened a retail establishment (also known as a dispensary) in Lansing, Michigan called The Pot Shop where he sells medical marijuana products to licensed medical marijuana users. Michigan legalized the medical use of marijuana in 2008 but because of a poorly written law patients could buy marijuana legally, but businesses could not sell marijuana legally. Many cities turned a blind eye to dispensaries operating in their midst either our of compassion for those who sought relief from chronic illnesses or because they saw the economic benefits of businesses like this operating in their community. Many dispensaries across the state had great success, including The Pot Shop whom locals referred to as “TPS”. TPS developed a reputation for carding every customer, providing a clean, upscale shopping environment, and for providing customers with a knowledgeable, professional, and well-trained sales staff. However, in December 2017 a new law goes into effect and the State has issued a warning to dispensary owners that they must close their businesses, apply for a license to operate, and reopen only when and if they are granted a license to operate sometime in 2018. Michigan is forecasted to grow from $100 million in annual sales under the existing law to $750 million in annual sales under the new law. Should Mr. Frankie close his doors and hope customers remain loyal or risk staying open? Should Mr. Frankie apply for a license? And if so, which of the 5 business licenses should he apply for?