The legalization of cannabis has seen the market experience significant growth by both buyers and investors. It has also made partnerships more popular in the industry.
A major problem minority-owned cannabis companies continue to face is the lack of enough working capital to fine-tune their products and expand their companies. Given these challenges, partnerships are welcomed by minority-owned companies.
The recent announcement by CanaFarma (CNFHF) to partner with Winners Circle Genetics has given the opportunity for the minority-owned company to expand its business. Even though they had established their place in the industry, according to Hassim Robinson, one of the founders of Winners Circle Genetics, the rising demand for their exotic strains was slowly causing a stretch in their budget as they were just getting started.
Winners Circle Genetics is a leading cannabis formulator of proprietary and premium cannabis strains created by Chris Milano Allison, Hassim Robinson, and Abou Thiam. Their strains have previously won awards, including the 2020 Hall of Flowers for their Peanut Butter and Jelly strain. Their most recent strain Birkinz has also become a favorite; it sold out instantly in dispensaries statewide.
CanaFarma (CNFHF) is a multi-faceted hemp products public company that offers a range of hemp-related products and services to consumers and the wellness market.
The partnership between both companies will see them scale their businesses. Winners Circle Genetics has been in the industry for some time, and they have marked their position in the market; their high-quality strains have also earned them credibility with their audience. With their influence on the market, they are one of the leading cannabis formulators, and the financial freedom provided to them by CanaFarma (CNFHF) will help them in their formulation.
As legal cannabis becomes more popular, the alternatives in terms of method of consumption and usage are also becoming diversified. Winners Circle Genetics tailors their strains to fit each use to ensure their audience gets the best experience from their products.
Discussing how this partnership has affected their company, Allison, Robinson, and Thiam note it has been challenging to penetrate the industry, especially since large corporations dominate the cannabis market. While they wanted to improve their quality and quantity, sometimes they would find themselves at a standstill due to insufficient resources. They will now be able to meet the growing demand for their strains, says the team at Winners Circle Genetics.
The partnership has affected their future. According to Allison, Robinson, and Thiam, as they continue to scale, their intent is to be a multi-state operator with a significant footprint in every market that it is allowed.
The partnership between Winners Circle Genetics and CanaFarma (CNFA) is the beginning of a brighter future for the cannabis industry. Marching forward, both companies are focused on bringing their customers nothing but the best. Their guarantee to customers to produce exceptional quality on their strains remains!
Partnerships in the cannabis industry are becoming more popular. For minority-owned companies, this is an opportunity to scale up their businesses and establish their place in the market. Considering the lengthy processes and the competition in the industry, partnerships are beneficial to both parties.