Our Story
Wellnown Formulas is a Canadian corporation that has been registered in the Beautiful British Columbia since 2009. It’s well known as a manufacturer and exporter of Natural health Products (NHPs). Although the most of products are manufactured in BC, the company outsources some products that need high tech production facilities. WKC has ownership of IP including over 50 product licenses issued by Health Canada and over 100 private labels. WKC’s value chain includes production, packing, labeling, shipping and marketing NHP.
Wellknown Formulas is a well known company with a valuable business network out of Canada that provides a good opportunity for us to scale and be able to compete with other brands inside Canada. Products are distributed in Canada, and many other countries through Strategic Alliances. A key strength of WKC is the reliable market outside of Canada, and this allows our small, frugal and enthusiastic company to be successful.
Given this strong export market, economies of scale can be realized, thus, supporting our business inside Canada by reducing our costs and price. Due to our strong business networks outside of Canada, the main marketing strategy is designed to build up a large market outside of Canada while our strategic alliances secure our money there. And then the company will be strong enough to compete on all branded products inside Canada.
Our Vision Statement
- Natural Products help people Naturally, and we are going to help people to return to Nature with High Quality Natural products.
Differentiation
- We are gathering high demanded Nutraceuticals and Sport Nutrition in one basket to attract people to our “Wellknown Formulas”.
- Our strong export market is supporting our business inside Canada by reducing our costs and price. Means, we compete with many other products locally by price because we also export our products which reduces our costs through volume.
Our Mission Statement
- We help people having access to quality Canadian Natural Health Products at an affordable price.
Pricing
Our prices for each target market are calculated differently based on their direct and indirect costs of production, delivery with reasonable margins. Pricing on each product category will be independently calculated and based on several factors.
Competitive Strategy
The most significant barriers to success in this business is having knowledge and understanding of the cultural nuances, as well as contacts to complete sales and product delivery to customers. Both lifestyles and standard business methods are different. Understanding cultural differences between Canada and other markets is extremely important. Our competitive strategy is to make use of the existing experience and business networks in moving the products to market – these products being Canadian made Natural Health Products and the market being Canada and the other markets. This translates into: maintaining existing contacts; cultivating more contacts and clientele; and continuing to build trust of suppliers and customers by providing a high quality and extremely reputable brand.
Numbers Speak For Themselves!
Business History
WKC’s founder, Ell Gnostic, came to Canada in 2008 with valuable experience and a strong business network. Within the last few years, he spent most of his time on building a successful business by producing high demand Natural Health Products, and he is continually progressing to expand this business.
Wellknown Formulas Ltd (WKC) is a BC based company and was started in 2009. It was started by three owners on October 18th, 2009 under the name of WellKnown General Trading. One of the partners resigned from the company in 2010, and the other partner sold his share to Mr. Gnostic in 2011 while also he sold his share in a Dubai company, and closing his offices in another countries. However, Gnostic keeps positive relationships with all previous business partners. The ex-partner in Dubai still owns companies in Jordan, UAE and Iraq.
WKC’s owner, has over 2 decades of experience in serving overseas customers as the main source of his information. In addition, he has done considerable online research, relationship building with alliance partners like Canadian Trade Commissionaires and attended many trade shows in a variety of countries in Asia, Europe and North America. He is familiar with Natural Health Products (NHPs), Over-the-Counter (OTC), Active Pharmaceutical Ingredients (API), and Generic Drug regulations in Canada, and many other countries.
In developing our market in the Middle East, we already exported products to Dubai, UAE which were then re-exported to other Middle Eastern countries; including in 2017 securing import permission for 5 products from UAE’s government and for over 20 products from Afghanistan’s government. Now, there are so many Wellknown’s products registered in other countries. We’ve even been recognized by the Ministry of Agriculture and Food as one of the best products of BC as showcased in the BC Trade & Investment Office’s Export Ready Agriculture and Seafood book every year.
Strategic Alliances
Our Strategic Alliances’ key roles and strengths are as follows:
Wellknown General Trading Dubai, UAE (WKD):
Established in 2002, its ownership was shared 50/50 until 2015 until Mr. Gnostic sold his share to Dr. Mohammad Mousa Mohammad (MMM) that also owns a factory, scientific Bureau, and distribution company in Iraq. WKD promotes our business and follows up on our accounts receivables. It also transits our products to other countries through Dubai ports. WKD signed an ongoing contract with a scientific company in 2016 on behalf of WKC to get Product Registration and Import Permissions.
Wellknown General Trading Afghanistan (WKA):
This company was established in 2014 by Mr. Gnostic and a local partner, then 2 new partners joined into the company in 2018. WKA promotes our business and follows up on our accounts receivables. It’s in contact with the Trade Commissioners that work with the Canadian Embassy in Kabul, and it has been granted a distribution license by the Ministry of Health in Afghanistan in 2015. It hired 2 full time pharmacists and many sale
Wellknown General Trading Jordan (WKJ):
MMM also owns 100% of this company. It has built close relationships with Jordanian, Syrian, Iraqi, and Lebanese markets. It is distributing many finished pharmaceutical p
WKJ also produces Dead-Sea products with some high standard fabricators under our Private Labels that are distributing in Afghanistan and UAE now.