Canada has legalized medical cannabis and up-to-date, 21 companies have licenses to grow and sell medical cannabis.
The growth and sale of medical cannabis is now regulated by Health Canada by way of a strict inspection, licensing and reporting system.
While there have been over 1400 applications for licenses only 21 full licenses have been issued.
The new licenses allow the cultivation of cannabis and its sale – online or in other ways – to registered medical cannabis users.
When the licenses were first issued there were roughly 45,000 registered users in Canada. That number is projected to increase to over 400,000 in the next decade.
When the new regulations were first announced there was a rush to apply for licenses. Many of the applicants were public companies.
ABBA adopted a different, public company, strategy. While we have a license application pending, we looked for an existing licensee to acquire. We wanted to lead the Second Wave of Canadian Medical cannabis companies.
The rush to obtain licenses meant that many companies entered the medical cannabis space without a clear growth strategy or commitment to quality. Money was raised and spent without much more than back of the envelope projections.
ABBA has taken a more measured approach. We recognize that the real growth will not be in servicing existing users but rather in becoming the supplier of choice for the hundreds of thousands of new users who will be turning to medical cannabis in the next few years.
Second Wave Canadian Medical cannabis is about building a brand which appeals to the fastest growing segments of the cannabis marketplace.
Advertising and marketing in the Canadian Medical cannabis space is strictly regulated. Which means to address new users ABBA sees as key to the growth of the cannabis industry. By building a brand in both the regulated and unregulated sides of the industry, ABBA believes we can become the go to brand for medical cannabis in Canada.
Growing medicinal quality cannabis is a first step. Growing cannabis which meets the needs of our targeted market segments is the second and more critical next step. Specific conditions require specific strains of cannabis but our clients’ needs go beyond that.
For many clients the delivery system is as important as the cannabis itself.
ABBA will be also working with its experts to develop gentle, effective, safe ways of giving our clients the best possible medical cannabis experience.
Success in Medical cannabis requires a solid business model. ABBA brings real business experience to the table. A management team which has built customer facing, successful businesses from the ground up.
ABBA is identifying the key niche markets where our brand and our products will gain the most traction. We will be developing our business model to maximize revenue growth and profit from these markets.
We believe that customer acquisition and retention is the key to success in the Canadian Medical cannabis market. Building effective marketing in a regulated and an unregulated environment will bring our clients to our door. Creating effective fulfillment and quality assurance and customer experience systems will drive customer loyalty and the all important word of mouth so critical in a health related business.
The Big Picture for production – ABBA’s own facility, when licensed, will have an initial capacity of 1248KG per year with sufficient expansion space to take the production to 4,992 KG as demand increases.
Those raw numbers give ABBA capacity. Behind those numbers are real people with real needs for specific strains, varieties, mixes, and strengths of cannabis . One size does not fit all and ABBA’s growth strategy is about tailoring our production to the needs of our clients by offering delivery systems as well as some of the top quality medical cannabis , ABBA can further meet its client’s demand for an overall quality medical cannabis experience.