GrowLife, Inc., provides hydroponic equipment, lighting, nutrients, media, and other cultivation supplies to commercial and urban operations. With a selection of cultivation products combined with logistics and distribution services, GrowLife consultants help cultivation operations efficiently control supply costs, manage build-out investments, track supply usage, streamline workflows and create custom solutions to aid in a wide range of grow concerns.
Q&A with Entrepreneur & GrowLife Inc.
What do you think are the biggest misconceptions cannabis industry?
Many think the only way to make money in the cannabis industry is to grow and sell cannabis, but we at GrowLife see the incredible potential of being the main "picks and shovels" company for the cannabis industry. We offer the supplies needed and have been consistently expanding our customer base due to our full-service offerings. Our team of experts supports growers from cultivation to harvest.
How is your business innovating?
GrowLife saw the looming oversupply issue facing the legal cannabis industry, which has already reared its ugly head in mature cannabis markets such as Colorado and Washington. With prices plummeting, we started GrowLife Innovations to find a solution to the crashing cannabis wholesale prices. We are currently conducting a Proof-of-Concept study on this proprietary vertical grow room technology in Colorado, with the goal of getting the cultivation cost of cannabis down to $0.35 cents a gram.
What was the biggest hurdle you had to overcome in your business?
In 2014, many publicly traded cannabis-related companies including GrowLife went into hyper-valuations. Less than 1 percent of companies that enter the gray market ever come back. Twenty-two months later, we climbed out of the gray market. It took another 18 months to get back to active trading, but we did it. We beat the odds, but it was the toughest four years for all of us, including our loyal shareholders. Now, we’re proud to have recently uplisted from the OTC Pink Market to the OTCQB market, which reflects a high-level of financial transparency, shareholder accountability and trading platform stability.
What is your favorite aspect of working in this industry?
The cannabis industry is full of visionaries who are actively trying to find more environmentally and ethically responsible ways of conducting business. As a supplier of cultivation supplies, we have the unique opportunity to meet growers from all over North America with a variety of needs and goals. Our only goal is to help every one of them have a successful and profitable grow.
What inspires you?
We are inspired by our long-term shareholders who rode through losses without giving up because they believed in our vision and potential. Their trust and continued investment kept us going when we didn’t want to. Now, as we continue to grow and innovate, we aim to increase shareholder value and further strengthen the bond of trust between GrowLife and its investors.