After striking a huge investment deal with a New York-based technology company, marijuana supply store Grow Big Supply looks like it’s going to hit the national market soon. After all, the new deal will provide the latter access to technology that will enable them to assess plant health through chemical composition analysis.
“We needed more resources, and they provided the resources,” said Oliver Poiss, CEO of Grow Big Supply. “I want to do this on a national platform, and I think my model is different than any other retail store you go into.”
Poiss opened Grow Big Supply in 2010 at an 800-square-foot space at 4501 Wynkoop Street, Denver. The company raked in $650,000 that year alone, growing to $7.5 million in revenue three years later. The business now encompasses 50,000 square feet, but Poiss wants to continue its expansion.
He plans to build a laboratory at the back of his supply warehouse. He also plans to develop a research facility in an adjacent warehouse, which is now stocked with soil, fertilizer, grow lamps, and gardening tools. He also plans to host educational programs for growers and will start selling supplies for making cannabis liquor and wine at home. He also hopes to sell popes and other smoking paraphernalia.
“Most of what we have done in this industry has been trial and error by people who aren’t trained,” Poiss said. “Now we can bring some real science to it that doesn’t happen in the trial-and-error kind of phase. We want to combine the cannabis world with technology.
“I want to get all the ancillary business I’m missing out on and become a one-stop shop for the industry.”
What do you think of Grow Big Supply’s expansion plans? Voice your opinions in the comments section below – your opinion matters to the nation.