The Year at Grow Solutions Holdings, Inc., a summary:
ONE LOVE GARDEN SUPPLY, LLC. ("One Love")
One Love, our wholly owned subsidiary, currently operates three organic and hydroponic garden supply stores in Colorado. One Love also sells products online through Amazon and eBay. One Love's revenues more than doubled from the previous year, and we expect it to grow at that rate in 2017. As we previously announced, One Love has agreed to acquire two additional stores in Oregon and Florida. These two stores did over $2 million in combined revenues in 2016 and consistent with the growth of our previous retail acquisitions, we expect them to double in 2017.
We look forward to closing these acquisitions in the next 30 days. We also have plans to acquire multiple stores in strategic locations nationally (Nevada, California, Mid-West, East Coast, Texas), positioning One Love as a national brand for consumer and commercial legal cannabis growers. One Love also plans to relaunch its website in the first quarter of 2017 with a fully integrated online store. We plan for this site to allow customers to place orders, receive discounts and track orders for delivery.
In addition to the consumer facing site, we plan for the One Love platform to support motivated sales reps to sell growing supplies across the US and Canada. Ryan Clement, Executive Vice President of Grow Solutions, believes there is "unlimited growth opportunities for our One Love stores in 2017".
FUTURE TECH ("FT")
In the third quarter of 2016 we launched our retail products division under the Future Tech brand. Future Tech designs proprietary products for sale to accessory distributors, smoke shops, dispensaries, head shops, and others in the industry. We believe the divisions Roztek Equinox Rosin Press and other proprietary products will continue to be well received in the market. We expect sales in 2017 to exceed the $3 Million-dollar mark.
"Future Tech is continuing to develop proprietary products that service the cannabis customer," Joshua Wexler, Vice President of Grow Solutions, commented, adding "Future Techs ability to quickly develop and manufacturer quality products for the legal cannabis consumer gives the company a competitive advantage."
Future Tech has plans to acquire a distributor in the space and has begun the due diligence process.
FIVE SEASONS GREEHOUSE ("Five Seasons")
This past November we launched the Greenhouse brand in Las Vegas. Five Seasons provides custom greenhouses to cannabis growers. We believe greenhouses are one of the fastest growth components of the nascent cannabis industry and are excited to be in the greenhouse space as more states approve or expand cannabis growth and sale for medicinal and adult use.
Five Seasons positioned itself to capitalize on this growth opportunity while limiting capital risk exposure. Five Seasons focuses on leveraging their expertise to develop deal flow and expects to close its first two projects this quarter. Grow Solutions expects Five Seasons to exceed $7 million in revenue in 2017.
JOBGROW ("JG")
In 2016, Grow also successfully partnered with recruiter.com to establish jobgrow.com. Recruiter.com is the worlds largest online recruiter with over 3 million user members. Recruiter.com believes the cannabis industry is one of the fastest area of employment growth and that Jobgrow is perfectly situated to capitalize on that growth.
Jobgrow is the first employment site for the legal cannabis industry to partner with a mainstream employment website. The subsidiary will enable employers, employees, and recruiters to fill needed positions in the cannabis industry on line.
In addition to the recruiter functionality on the Jobgrow site, Jobgrow is developing ground breaking functions that will expand traffic and users to the Jobgrow site. Grow Solutions expects jobgrow.com to launch at the end of the first quarter.
GROW TECH ("GT")
Grow Solutions is fortunate to have brought together an experienced team with knowledge in all areas of the legal cannabis industry. The Grow Solutions team has been working with manufacturing partners in Spain and China to develop our own line of lights, nutrients, and other products used by growers in the legal cannabis industry and we expect to launch these lines in the third and fourth quarter of 2017. Our strategy is to develop and brand our own proprietary products for sale through distributors, and of course, our own One Love stores.
GROW CONSULTING ("GC")
Finally, the Grow Solutions team will also be leveraging their experience to develop a consultancy team to assist others take advantage of the enormous opportunities of cannabis legalization. With eight more states legalizing or expanding cannabis in this past election, the Companys expertise is in demand and Grow Solutions is providing services to clients including, among others, support with: licensing, growing, dispensary management, and compliance.
Grow Solutions has been contacted by groups seeking licensing in Arkansas, Pennsylvania and California in the past 30 days and believes this division is well positioned to generate revenue in 2017 as the market expands across the country.
Our View on the Legal Cannabis Industry
Those of you who have had an opportunity to read my recent editorials on MarketWatch and CNBC know that I am excited about the opportunities in this business. For those of you that have not, I invite you to take the time to see how we at Grow Solutions think about this emerging sector:
The legal cannabis industry continues to grow at an amazing rate. In November of 2016, eight states voted to approve or expand their medical or adult use laws. California, Maine, Nevada and Massachusetts approved adult use of cannabis, while Florida, Arkansas, North Dakota and Montana approved or expanded medicinal use of cannabis.
As Troy Dayton, CEO of Arcview recently stated: "You will not find another multi-billion-dollar market growing at 25 percent anywhere in the world that is not already filled with multi-national companies and institutional investors. Thats part of what makes the cannabis industry such a unique opportunity for investors and entrepreneurs."
We could not agree more. Grow Solutions has gone from model to revenue producing and we look forward to being in an industry that allows us to exceed our projections.
In 2017 we plan to continue our campaign of aggressive expansion nationwide. And as we begin 2017, I want to take a moment to thank the Grow Solutions team for their great work this past year and to thank each of you for your continued support.
Grow Solutions Holdings, Inc. is a holding company that is publicly traded on the OTCQB market, under the symbol "GRSO". The Company is focused on the development/distribution of high-demand products and services for cultivation, processing and consumption of cannabis.
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