A Toronto-based company is making their mark in the Canadian business sector by creating a niche in their respective booming market.
Ayurcann Holdings Corp has a unique business model that provides post-harvest solutions for licensed producers. Their B2B processing facility located in the GTA offers many services for Canadian licensed producers. These services include extraction, white label manufacturing and refining products into oil.
Ayurcann has created an exclusive Marketplace where they sell oil-infused products, which include vape products, topicals and tinctures (herbal extracts) thereby giving licensed producers an opportunity to sell their product.
The company was founded by Igal Sudman in 2018 who was granted his license in 2020. His company went public earlier this year and now can be found on the stock market (AYUR).
“As an entrepreneur to recognize opportunities is paramount to success, being able to run a profitable and successful growing company in the space has not been done until Ayurcann,” Sudman said. With Sudman’s 20 years of experience in founding and developing businesses featured on Canadian Profit 50 and knows what it means to be a visionary.
We had a chance to speak with Sudman and discuss what differentiates Ayurcann from other companies and his new ventures within the Ayurcann Marketplace.
Can you tell us what differentiates your company from other companies?
“We are focused on value and growth. We understand that running a successful company is being focused on the bottom line and being responsible to create and sell products that the consumers demand, our ability to run a profitable and growing company has not been done in the space in Canada.”
What is the Ayurcann Marketplace and how can the public access the marketplace?
“The marketplace is a patient only portal where medical patients with prescriptions can learn more about the products available, interact directly with our patient support staff and select value life enhancing products. It is available online now. Ayurcann takes its responsibility very seriously when it comes to patients, their security, privacy, and requirements. To use the marketplace, a potential patient needs to register by filling out the Patient Registration Form and be able to provide their medical documents. An Ayurcann Marketplace patient support staff then verifies and confirms the provided information with the health practitioner that prescribes the use of the product and if confirmed, approves the use and purchase ability of the patient. “
Can you go into detail about Ayurcann Marketplace and how it helps potential licensed producers?
“The ability to offer a variety of products directly to patients, create your own marketing and set your own prices helps other Licensed producers to move products quickly and more profitability then dealing with only one monopolized system in the recreational space.”
How is the marketplace bettering patients who are using medical marijuana?
“The marketplace is a patient only portal where medical patients with prescriptions can be educated and learn more about the various products available, interact directly with our patient support staff and select enhancing products. It is available online now. It helps concentrate the offerings from a variety of producers throughout the country, providing selection and better value to patients, like an Amazon model.”
What are some opportunities or gaps you saw when it comes to providing patients who need to use medical marijuana for medicinal purposes?
“Current structure of patient uses, and purchase patterns works where the patients deal with one Licensed producer and their offerings only, an Amazon model like Ayurcann marketplace enables for a more competitive and wider selection for the patients and enhances their ability to be more selective and save money on their product consumption.”
Can you go into details what are the six new products from Fuego and your new Xplor brand?
“We make recreational and medical based products that bring a wide variety of brands into the Canadian marketplace, The Fuego brand specializes in a high potency recreational use vape products and the Xplor brand is focused on the oil-based tincture products for medical use.”
Can you tell us what’s the Xplor brand and the concept behind this new brand?
“We felt that having a medical based product and brand will distinguish us from the current market offerings. The Xplor is intended to provide a variety of products with THC and CBD in high potency dosage for medical patients.”