Massachusetts is about to be the site of a budding new industry now that medical marijuana has been legalized in the state. While marijuana remains illegal under federal law, Colorodo and Maine saw a number of entrepreneurs trying to cash in after the states legalized the substance for medical use, and a number of related service businesses are eager to help the Bay State do the same.
First and foremost are the lawyers. Thursday, Massachusetts and Colorado attorneys plan to host a seminar in Cambridge about navigating the legalities of running a (more) legal dispensary. Meanwhile, a company called MedBox is touting a marijuana dispensing machine, offering a “soup to nuts” solution for aspiring sellers.
But entrepreneurs looking for guidance can just look north to Maine, where medical use was approved in 2009. So what does a medical marijuana entrepreneur look like?
The Globe’s Jenifer B. McKim profiled grower Glenn W. Martin (Globe subscription required) in August.
At $250 to $375 per ounce, marijuana now accounts for 15 percent of Martin’s family income, supplementing lumber and animal sales.
He’s one of about 780 growers in the state, and he still struggled to make ends meet.
Massachusetts law will allow up to 35 dispensaries, with a limit of five per county.