- ‘Harvard Business Review’ cites importance of a good business model, specifies key questions it should answer.
- Pure Extracts’ business model founded on three pillars: extraction services, formulation & white-labeling, and development of its in-house ‘Pure Pulls’ branded cannabis and functional mushroom products.
- Company’s business model is multi-faceted, comprehensive and allows for future growth.
A strong business model is essential to every successful organization, whether it’s a new venture or an established player, touts a “Harvard Business Review” article titled “Why Business Models Matter.” Pure Extracts Technologies Corp., a plant-based extraction company with a new vertical in functional mushrooms, recognizes the power of a carefully defined, strategic business model. The Company offers its own distinctive strategy founded on three pillars: extraction services, formulation & white-labeling and Pure Pulls brand development.
Key to a good business model, the HBR article noted, is a simple working definition of the term and the answers to some age-old questions:
- Who is the customer?
- What does the customer value?
- How does the business make money?
- What is the underlying economic logic that explains how the business can deliver value to its customers at an appropriate cost?
Pure Extracts’ business model approach answers these questions and “is multi-faceted and comprehensive as it includes elements that allow for future growth and expansion, scalability and increased productivity,” the Company’s website states.
The first pillar of the business model — extraction — is rooted in one of the core services Pure Extracts offers its customers. “Extraction is our business,” the Company stresses, noting that its Vitalis CO² Extraction systems produce full-spectrum oil, one of the purest and highest-quality oils available on the market. Pure Extracts aims for a capacity of more than 100,000 kg of biomass per year with a technique that has been tried and tested through the Company’s impressive industry experience.
Pillar two — formulation & white-labeling — is accompanied by Pure Extracts’ industry-leading quality assurance. Many Licenced Producers (LPs) in Canada lack the financial wherewithal and the know-how required to successfully manufacture extracted cannabis products, hence the Company is uniquely equipped to offer a variety of different product formulations to other LPs, with each formulation having specific functionalities.
Finally, the third pillar of Pure Extracts’ business model — cannabis and functional mushroom brand development. With the extraction market in Canada still relatively young, few companies are offering oil extraction services; adding their Pure Pulls branded products to the package makes Pure Extracts truly distinctive. The Company’s three-phase development plan outlines the strategic rollout of Pure Extracts product formulations, each of which is carefully composed of exclusive oils and blends of natural ingredients. With Pure Extract’s proven ability and perspective, the Company is uniquely positioned to leverage long-term experience in the space.
“A successful business model represents a better way than the existing alternatives,” the HBR article reads. “It may offer more value to a discrete group of customers. Or it may completely replace the old way of doing things and become the standard for the next generation of entrepreneurs to beat.” Pure Extracts, along with its three-pillar business model, certainly looks to be leading forward to a better way of doing business in an industry that is barely beginning to realize its potential.
Pure Extracts Technologies Corp., headquartered in Pemberton, British Columbia, is a privately held, plant-based extraction company with a new vertical in functional mushrooms. The firm is positioned to be a dominant extraction company and a leader in the rapid development and commercialization of recreational, functional and medicinal products.
For more information on Pure Extracts, visit the company’s website at www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to Pure Extracts are available in the company’s newsroom at http://ibn.fm/Pure
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