Image via New Age Farm
Promising trends continue to fuel optimism that the cannabis industry could see explosive growth this year continues to build. As a result, there is a rising number of cannabis-based service companies looking to bring innovative solutions to the marketplace. With sales expected to rise as legalization expands, there is most likely going to be a flood of even more cannabis growers looking to start their own businesses. However, with federal policy still a prominent headwind to this momentum, many entrepreneurs are looking to more innovative and creative ways to get their businesses off the ground.
Cannabis startups are turning to companies like New Age Farm Inc. (NF:CNX) (NWGFF), which is helping growers enter the marijuana industry by offering them solutions to scale costs and save money on equipment purchases. The company recently unveiled a revamped website (www.newagefarminc.com) and a new video that provides a peek into its Oroville, Washington agri-campus, which New Age Farm says is on target and will be ready to host tenant farmers soon.
New Age Farm’s New Look
In addition to the new website, the company also has a new social media presence on Twitter, Instagram and Facebook all under its new handle: “newagefarmcorp”. Carman Parente, President & CEO commented, “We are very pleased with the timing of our rebranding, and completion of this video, demonstrating that we are executing on our business plan for our tenant-growers. Through our state-of-art facility, our tenant-growers projects are on target, and we look forward to announcing the next tenant-grower harvest in Oroville, Washington.”
Helping Startups Get Started
The company’s business model is unique for its scalability and the opportunity it offers growers. New Age’s full turnkey service allows growers to get their foot in the door quicker and puts them in a position to plant and harvest much faster. At a New Age Farm property, clients can take advantage of the state-of-the art greenhouses, large warehouses with storage or the advanced processing equipment. As an added benefit to the company and the customer, additional plants and stock can be stored and handled in the Company’s facilities for additional revenue.
New Age Farm plans on replicating its adaptable, repeatable model to take advantage of this emerging sector. The company has three agri-campuses in Langley, British Columbia, Oroville (already mentioned) and Sumas, WA. In Washington State alone there are 650,000 recreational users and New Age Farms offers a turnkey growing opportunity to reach them. Many startup marijuana growers do not have the $1.2 million required to scale out their business and NWGFF offers the space to expand and grow.
The Oroville Property and its Tenants
The 4.5 acre property is located in Washington’s “Okanogan” region. Currently, there are two tenant farmers growing and working on the property.One tenant is a Tier 2 production only licensee that is finishing off their first harvest of the year. The second tenant is a Tier 3 production and processing licensee going through the final stages of a build out that will allow them to grow and process up to 30,000 square feet of canopy space. According to the company, projected revenues from this tenant are approximately $23,520,000 annually under full-scale operation.
New Age’s turnkey solutions are going to be in high demand as the industry grows. The company’s sites allow a grower to maximize profits and minimize up-front costs. Giving these growers a chance can translate into be a great growth strategy for New Age Farm.
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