As entrepreneurs Aprelle Mintz, Jason Freeman and Anthony Robustelli finalize work on their retail cannabis license application before the 90-day deadline is up, the group remains confident despite some challenges and surprises along the way.
The trio, owners of the recently-renamed AJAM LLC, formerly known as Divine Artisans LLC, have been preparing paperwork for their planned Bridgeport dispensary location for months. The clock began ticking for prospective retail operators to file their paperwork when the 90-day application window opened Feb. 3.
AJAM’s rebranding represents a fresh start as the company enters the final phase of its application process, said Freeman. Up until around Feb. 3, the company didn’t know what all the application requirements would be because they weren’t made public. It was preparing its application documents based on what other states that have a recreational marijuana program require.
Fortunately, there were limited surprises when the actual application was made available; the company has contracted with a consulting firm to help complete the document.
“It essentially has gone the way we thought it would,” said Freeman.
What surprised the company founders about the process, they said, was certain information that was not required.
The social equity license the group is pursuing is reserved for companies with founders from underserved communities historically targeted by the government’s war on drugs. But the application does not require applicants to identify the location of their planned business, or even specify the community they plan to operate in.
Amid a shifting mosaic of local moratoriums, this provides applicants the benefit of remaining nimble, said Freeman, but his company is resolute in its plans to open in Bridgeport.
“I grew up here, went to school here, and I work here,” said Mintz. “Bridgeport has so much potential and has been through so much over the years. If I could help bring positive change to Bridgeport, then that’s what I’m going to do.”
The social equity legislation is an opportunity to rectify the wrongs of the war on drugs in the community and bring opportunity to those who have learned about cannabis on the street, Mintz said. They deserve a chance to legally be a part of the cannabis industry, she said.
“It’s something that a lot of young adults know but have been penalized for it over many years,” Mintz said.
Finding capital
Mintz and Freeman said they have mixed feelings about the process of trying to get a business license, particularly when it comes to the lottery system. On the one hand, Freeman said, there is a huge investment of time and effort without knowing whether there will be a pay off. However, Mintz said she recognizes the lottery gives applicants a chance to apply without discrimination.
There are more challenges ahead if the trio is successful in the lottery, including finding financing. The group said it wants to find financing from a lender rather than an independent investor, but many traditional banks won’t finance the industry because marijuana is still an illegal drug on the federal level.
“We are going to hold our ground and continue to work as hard as we can on this and we are going to make the dream happen,” Freeman said.
