MJBizMag July 2022 - 79

MJBizDaily Buyers Guide Extraction
mjbizdaily.com
Environmental waste is a key consideration when creating an extraction company business plan.
THE PROS & CONS
OF IN-HOUSE EXTRACTION
According to the 2022 MJBiz Factbook, more than 70% of cannabis product manufacturers do at
least some extraction themselves rather than buying extracts from outside sources.
Handling extraction in-house comes with pros and cons compared to paying another company to
handle it.
These factors can include high start-up and operational costs, hiring a team of well-trained
experts familiar with the science of extraction, maintaining control of the product throughout the
production process and potential harm to the environment, to name a few.
Con: Extraction Operations Face High Start-up Costs and Overhead Expenses
Start-up and operational costs will play a major role when deciding whether to manage the
extraction process in-house.
" It's going to vary from state to state based on licensing and real estate, " says Mirko Vulicevic,
chief science officer at Legit Labs in Webberville, Michigan. " If you're looking to move to a state like
Michigan and looking to start an edible-based extraction company, and you're doing pretty good
volume, you're looking at up to a $1 million facility. "
" Generally speaking ... you can spend $100,000 or $20 million, depending on your application and
market potential, " says Casey Flippo, CEO at CBD product manufacturer Natvana.
19
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MJBizMag July 2022

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