What's Next for Micro License Applicants?
- Jen Reise
- Apr 7
- 3 min read
Updated: Apr 9
April 7, 2025
If you are one of the 1,300 people who submitted an application for a micro license in Minnesota, you may be wondering, What’s next? What am I supposed to do while I wait?
From a licensing perspective: You are waiting. It might be several months. OCM has stated that they will review the micro license submissions on a rolling basis, so each applicant is on their own timeline. But the next step will be an email saying the applicant is either advancing to the next step or giving 14 days to correct issues with the application (if possible). So be alert for that.
While you wait for an email from OCM, you could:
Identify key service providers. If you’re a dispensary, you’ll need to choose a POS system. If you’ll be setting up a grow, you’ll need lights (tip: look into rebate programs). Both will need accountants who deeply understand IRC 280E and a bank account with a cannabis-friendly bank.
Skill up. Unless you’ve worked in a legal state already, you’re going to have to learn Metrc, the computer system in which we’ll log every step seed to sale. If you are new to running a small business, look into courses or books that help you understand managing operations, a team, marketing, etc.
Connect. This is a highly fragmented industry, by design. That means we need each other! Come to events like the weekly Industry Happy Hour at Earl Giles on Wednesday evenings, and the Rise & Grind sessions on Tuesday mornings with the Grow House.
Refine your business plan. The app got people thinking about their possible future sales and employee counts. Now, spend time identifying what steps you will have to take before you can earn that first dollar in revenue. Relatedly:
Understand your capital needs. Engage a cannabis accountant to create forecasts so you can make a realistic budget and know how much you will have to spend (i) to even open and (ii) to operate the first year. Explore your options – taking on debt or selling equity? Owner investment vs. outside investors? Can you identify any grants to apply for?
Investor materials. If you hope to raise capital from outside investors, you will need a high-quality business plan with forecasts and a pitch deck. Then, start working on having meetings with potential investors. Most likely, investors won’t commit until you are farther along in the process, but you can start networking and building relationships.
Explore property options. For those on a shoestring budget, it may be too soon to actually sign a lease. But you can start the process of looking at properties and getting a sense. Learn what a triple-net commercial lease is. Think about, How well does this space comply with the proposed rules (for example, bathrooms? secure areas)? How much work would it take to “build out” this space to meet your needs, and what would that cost (added security, maybe upgraded electrical or HVAC, etc. etc.) For consumer-facing businesses, how is the foot traffic or visibility to a busy street? Parking? And, of course, you need to find a space that is zoned appropriately by its city or county. Retailers, communicate with cities earlier rather than later to make sure obtaining a retail registration is realistic there.
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