Strainwise Looks to Build a Cannabis Services Ecosystem
July 22nd, 2019
App, Exclusive, News, Top News
The global cannabis industry is projected to reach more than $66.3 billion by 2025, according to Grand View Research, which represents a blistering 23.9% compound annual growth rate.
There are many different opportunities for investors interested in the space, ranging from cultivators to REITs, but consulting businesses have some unique advantages. For example, they often have less regulatory risk, lower capital expenditure levels, and a diversified revenue base. They also have an opportunity to build important relationships that can unlock tremendous value.
Let’s take a look at how STWC Holdings Inc.(OTCQB: STWC) — better known as Strainwise — is leveraging its founders’ expertise to build a full-service cannabis ecosystem.
STWC Holdings provides a wide range of consulting services to the legal cannabis industry. After becoming one of the first license holders in the U.S., founders Shawn and Erin Phillips leveraged the lessons they learned to help other companies succeed in building cannabis businesses across the United States — from initial licensing to becoming an operating partner.
The rapidly evolving nature of the industry leaves many operators feeling over-extended. With StrainWise as a partner, they don’t have to worry as much about the legal or logistical aspects of the business and can focus their efforts on operations. The focus on operations tends to lead to the most important bottom line — profits.
For example, the company recently worked with a group in Oklahoma in advance of the state’s legalization program. They were brought in during the license and application phase to help iron out a viable business plan. After successfully securing a license, the company helped the group build out their first dispensary and are now partners in a new business.
The high caliber of the company’s employees set it apart from many other consulting businesses in the space — they do what they say on-time and on-budget. In fact, more than 90 percent of the company’s business comes by way of referral, according to President Matt Willer, which underscores the quality of services and trust in partnership with clients.
Building an Ecosystem
While Strainwise intends to expand into California and other markets, the company’s real growth story is the building of its cannabis services ecosystem. The goal is to address a wide range of client problems across the value chain in order to become a trusted long-term partner.
There are several recent examples of this strategy in action:
*The company recently launched a new packaging division designed to help clients focus on creating products rather than dealing with compliant packaging.
*The company joint ventured with a forward company to offer more robust analytics and reporting solutions to help customers make better decisions in their business.
In addition to new services, the company is building a network of operating businesses in the space. The company recently opened a 1,700 sq. ft. Strainwise store in Oklahoma City for the sale of hemp-derived CBD products. These businesses could further expand its footprint and represent natural expansions from its existing relationships with clients.
STWC Holdings Inc. (OTCQB: STWC) is rapidly expanding its client base, service offerings and partnership portfolio.
The company has also added new management talent to help its founders Shawn and Erin Phillips and other team members focus on the core business. For example, Matthew Willer was recently appointed as President with extensive capital markets experience. The company subsequently uplisted to the OTCQB stock exchange to increase transparency and accessibility.
The company’s ability to execute on its contracts for clients has translated to its ability to execute on its business plans for investors. With its expansion into new businesses and jurisdictions, investors may want to keep a closer eye on the company over the coming quarters.
For more information, visit the company’s website at www.strainwiseconsulting.com
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