Inc. Magazine Unveils Its Annual List of America’s Fastest-Growing Private Companies - the Inc. 5000
For the Second Time, Office Evolution Appears on the Inc. 5000, Ranking No. 2,176 With Three-Year Revenue Growth of 194 Percent
August 18, 2020 // Franchising.com // NEW YORK - Inc. magazine revealed that Office Evolution is No. 2,176, up from its previous listing of 4,051, on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment - its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“Our suburban-focused strategy continues to set us apart from our competition in the coworking industry. This is no doubt a key reason for our consistent ability to attract new franchise partners as we expand our broad network of coworking locations,” stated Office Evolution CEO and Founder Mark Hemmeter. “We are grateful to be recognized as one of the most successful companies in the American economy’s segment of independent small businesses. This ranking is a testament to our team’s hard work and dedication to the success of our brand.”
Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists as well. The 2020 Inc. 5000 achieved an incredible three-year average growth of over 500 percent, and a median rate of 165 percent. The Inc. 5000’s aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are also being featured in the September issue of Inc., available on newsstands August 18.
“The companies on this year’s Inc. 5000 come from nearly every realm of business,” says Inc. editor-in-chief Scott Omelianuk. “From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism.”
The annual Inc. 5000 event honoring the companies on the list will be held virtually from October 23 to 27, 2020. As always, speakers will include some of the greatest innovators and business leaders of our generation.
About Office Evolution
Founded in 2003 and franchising since 2012, the Colorado-based company is the largest and fastest growing coworking franchisor in the United States. Office Evolution currently has 70 locations open with a projected 80 open by year end. The brand has nearly 140 units sold in markets across the country and is poised for further growth as the demand for suburban workspace continues to rise. The brand’s model fills a niche for suburban-based workers looking for a professional environment to get their work done. Office Evolution is helping thousands of business owners be dreamers, risk-takers, and doers by providing them with access to professional services that will help them drive their business forward. Office Evolution continues to lead the workplace transformation that is projected to see nearly 30 percent of all office space become shared office space by 2030, according to a JLL report. Office Evolution is currently operating in 25 states across the nation and has been named to Entrepreneur Magazine’s Franchise 500 and is an Inc. 5000 company. For more information about Office Evolution, please visit https://www.officeevolution.com/.
More about Inc. and the Inc. 5000
The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent - not subsidiaries or divisions of other companies - as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at https://www.inc.com/inc5000.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference, visit https://conference.inc.com/.
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