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These Are the 50 Fastest-Growing Women-Owned Companies in the U.S. (101 hits)

by Madeline Farber
Courtesy of Fortune Magazine

Ellen Latham never thought her love of fitness would result in owning one of the fastest-growing businesses in the United States.

Latham, who owns a boutique fitness chain called Orangetheory, has snagged the No. 1 spot the annual ranking of the fastest growing women-owned or led businesses released by the Women Presidents’ Organization (WPO) and American Express on Thursday. Though this Orangetheory's first time at No. 1, the Florida-based company is not a newcomer to the list; it was ranked No. 3 last year.

The list, which is in its tenth year, ranks companies based on both percentage and absolute growth. To qualify, businesses must be privately-held, woman-owned or led, and have reached an annual revenue of at least $500,000 as of Jan. 1, 2012. The 50 companies generated a combined $7.2 billion last year, up from $75 million in 2007, the first year the list was compiled.

Latham co-founded Orangetheory with just $50,000 from her personal savings in 2010. Since then, the business has flourished: In 2016, Orangetheory reported $451 million in revenue, up from $87 million in 2014— success Latham never truly expected.

"We hit the ground running when we decided to franchise the company," she says. "But I never thought it would explode to where it has."

Orangetheory now flaunts 630 locations across the U.S., and has spent the last year breaking into the international market. "It's been the biggest reward, but biggest challenge," she says of expanding outside of the U.S.

Orangetheory is known for its metabolic training tactics—the roughly 60-minute, fat-burning classes are a blend of strength training and cardio, using exercise equipment like treadmills, indoor water-rowers, and free weights. Participants wear a heart-rate monitor, which is synced with monitors in the studio to see real-time readings.

"People are getting dramatic results in short period of time. That’s why the studios are jammed and we can’t open enough," Latham says.

While the business on the list range across a wide variety of industries, there is one thing they—and the women who lead them—have in common, according to WPO president Marsha Firestone: innovation. "It's definitely one of the characteristics that these women have that drive growth," she says.

As for Latham's advice to other aspiring female entrepreneurs, especially to those who have a great idea later on in life? "I was 53 when I started Orangetheory. So why not you?" she asks.

Top-ranked Orangetheory is followed by Pinnacle Group, an IT workforce solutions firm based in Dallas, which has remained in the No. 2 spot for the second year in a row. IT services firm Technology Concepts Group International, a newcomer to the list, was ranked No. 3. You can check out the full list of 50 below:

  1. Orangetheory Fitness
  2. Pinnacle Technical Resources
  3. Technology Concepts Group International
  4. Morning Sun Financial Services
  6. Contract Direct
  7. Xtreme Solutions
  8. Akorbi
  9. Maximum Games
  10. Contingent Resource Solutions
  11. Aden & Anais
  12. Nugate Group
  13. Atrium Staffing
  14. MYCA Material Handling Solutions
  15. Ivie & Associates
  16. TKT & Associates, Inc.
  17. Quality Business Solutions
  18. Merrimak Capital Company
  19. BrightStar Franchising
  20. The Revel Group
  21. Prim Construction
  22. Influenster
  23. TransPerfect
  24. CorAnet Corp
  25. Renogy
  26. Twelve, Inc.
  27. CA South
  28. Chas Roberts A/C & Plumping, Inc.
  29. Greene-Group
  30. Ampcus Inc.
  31. Schendel Mechanical Contracting Ltd.
  32. Innovation Office Solutions
  33. Swoon Group, LLC
  34. Katom Restaurant Supply, Inc.
  35. TSAC Engineering
  36. Softpath System, LCC
  37. ICON Information Consultants, LP
  38. Mercury Freight (PTY), LYD
  39. OpTech, LLC
  40. Office Remedies, Inc.
  41. Tribal Tech, LLC
  42. The Bakery Cos.
  43. Administrative Strategies, LCC
  44. The Leading Niche
  45. Xclusive Staffing
  46. A-Plust Meeting and Incentives
  47. Create NYC
  48. CMT Services, Inc.
  49. PIA Agency
  50. Reliant Staffing Systems

Original Story at http://fortune.com/2017/05/04/fastest-growing-women-businesses-2017/
Posted By: Reginald Culpepper
Thursday, May 4th 2017 at 5:21PM
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