Promotional Feature : "Chronic Therapy : Family Cannabis Business Surges"
Aug 30, 2019 01:25PM
● By Marketing SENSI MAG
Chronic Therapy was begun in 2009 by co-owner and co-CEO Matt Saunders and Bob Domagata, one of his best friends from high school. “We started in the garage in my brother’s house as caregivers,” he says. “Then my brother Jason decided to come into the business in 2010. My mom Sandy came in about the same time. We are all 25-percent owners in the company.”
Saunders had been a coach for the U.S. ski team specializing in aerial skiing; his mom and CFO continues her work as a philanthropist and entrepreneur doing projects in Zambia and working with the Franciscan friars; co-CEO Domagata was an economics major working in real estate, and his brother Jason Saunders is co-CEO and retail store expert.
The company bought and built a cultivation facility near the Purina factory in Denver, and in 2013 opened a medical cannabis store in Wheat Ridge. “We didn’t go recreational right away,” Saunders says. “We switched over four or five months after it was legalized to wait and watch. We wanted to be safe, smart and conservative.”
The switch to recreational came in 2014, when the Chronic Creations lab, which makes butane and propane extracts and mixed-solvents extractions, came online. Chronic’s award-winning waxes, shatters, live resins and diamonds are in about 40 different businesses in 72 locations across Colorado.
Chronic has applied for licenses in Utah, where the company is trying to vertically integrate its operations and do what it did in Colorado by starting off on the cultivation side and then moving into a dispensary (which Utah calls a pharmacy). “And we have some pokers in the fire in a whole bunch of places across the country,” Saunders says.
In Colorado, the purchase of an additional 15,000-square-feet of cultivation space is being finalized. “We are always looking at opportunities to pick up new dispensaries,” he says. “But right now we are looking more out-of-state than in state.”
Hemp is not on the radar right now, he says, because the goal is to perfect what Chronic is doing first, from grow to dispensary to lab. “But we are very interested in working with people who want to do some CBD and THC combinations.”
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