Historically, at the inception of the Canadian legal cannabis industry, many cannabis consultants charged clients exorbitant consulting fees. This was because at that time, there was a small pool of regulatory cannabis knowledge and expertise. Since then, this situation has evolved because now there are numerous legal cannabis operations under Cannabis Act and Regulations resulting in significantly enlarging the Canadian cannabis industry knowledge pool.
This knowledge pool has been further expanded through a number of knowledge based organizations. For example, the BC Craft Farmers Co-Op (BCCFC) has a roster of pre-approved concierge member consultants offering discounted consulting fees to its Co-Op members. Growth West is such a BCCFC approved concierge member and is now offering its clients the same fee discount rate (up to 50% fee discounts) as BCCFC members at $65 an hour.
Because of the expanded Cannabis Industry knowledge pool in 2022, many cannabis license applicants are completing the Health Canada licensing work themselves as a substitute to paying a consultant.
Nigel Boast (BSc, LLB, MBA, LSX, PMP), President by Growth West Finance Ltd, a highly specialized boutique cannabis consulting firm obtaining dozens of Cannabis licenses (operating since the beginning of Canadian cannabis legalization), comments:
Our new 2022 Customized Consulting Fee Model is only pay for what you need. This new customized fee model will assist our clients in reducing their consulting fees up to 70% saving them tens of thousands of dollars. Clients in 2022 only want to pay a consultant for specific complex tasks required by the Cannabis Regulations that fall outside their knowledge base or skill set that require specialized knowledge and know how. Performing these difficult tasks themselves could risk delaying or preventing cannabis license grant or post licensing amendments.
This discounted fee model also applies for post cannabis licensing consulting work, such as for example: license amendments to include processing and sales amendments for new Cannabis categories, new form registrations etc.
We are adopting this new 2022 Canadian Cannabis customized consulting model because our clients only want to pay for what they need for specific work which the clients cannot perform themselves. Our hourly rates are based on the discounted BCCFC member rate of $65 an hour.
President by Growth West Finance Ltd
What’s Next?: With a guiding hand from us, we will help clients choose what work they can do themselves, and which specialized consulting work they want to be done at discounted rates. Our clients don’t have to purchase 100% of the application or post application/operations stage project, but only pay for what they need.
To Conclude: the fees for drafting and filing the license application or post license application work will cost only a fraction of the original cost of the full industry standard service fees. These time based fees charged by Growth West will also be at the same discounted rate given to BCCFC members.