Source1 Purchasing Becomes Part of America’s Fastest-Growing Private Companies – the Inc. 5000
Lake Worth Beach, Fla., Sept. 1, 2016 /PRNewswire-iReach/ — Source1 Purchasing, a leading national purchasing services provider for the leisure, lodging and gaming industries, announced that they have been ranked one of America’s fastest-growing private companies by Inc. Magazine. The Inc. 5000 represents a unique look at the most successful businesses within the American economy’s most dynamic segment— its independent small businesses.
With 3-year revenue growth reaching an outstanding 239%, Source1 Purchasing is honored to rank in the top one-third of the Inc. 5000 (position 1580). The purchasing organization began business in 1998 partnering with hotels, restaurants, casinos and independent food operators as a source for operators to access nationally negotiated pricing for their food and beverage items. Now, the organization also offers a variety of purchasing programs with ancillary products, high-touch customer service, data and analytics to support their customers through the purchasing process.
“We are operators serving operators and this is our passion. Our team feels honored to be recognized as one of the fastest-growing companies in America. With a strong team effort that continues to expand, we strive every day to make a powerful impact in the hospitality and lodging segments,” says Scott Hoffmire, CEO/President of Source1 Purchasing.
The 2016 Inc. 5000 unveiled online at Inc.com and the top 500 companies featured in the September issue of Inc. is the most competitive crop in the list’s history. The average company on the list achieved a mind-boggling three-year growth of 433%. The Inc. 5000’s aggregate revenue is $200 billion, and the companies on the list collectively generated 640,000 jobs over the past three years, or about 8% of all jobs created in the entire economy during that period.
“The Inc. 5000 list stands out where it really counts,” says Inc. President and Editor-In-Chief Eric Schurenberg. “It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great – usually from scratch. That’s one of the hardest things to do in business, as every company founder knows. But without it, free enterprise fails.”
About Source1 Purchasing
Source 1 Purchasing is the leading procurement services organization focused on cost management, savings and operational efficiencies for the hospitality industry. Founded in 1997, Source1 Purchasing provides customized group buying and procurement programs for operations of all sizes, from single-location to multi-unit operations to major corporate facilities with centralized buying functions. Today, Source1 Purchasing has more than $7 billion in purchasing power and offers customers access to over 750 high-quality suppliers and 9,000 products.
More about Inc. and the Inc. 5000
The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation’s most successful private companies has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates their remarkable achievements. The event also offers informative workshops, celebrated keynote speakers, and evening functions. 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 http://www.inc.com/inc5000.
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Written by: Brittany Ventriglio
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