By now you may have already heard but in case you haven’t, a full press release is listed below. YakAttack, a company primarily focused on kayak rigging accessories has been named as one of the fastest growing companies in America. So why is this important? Here are a few of the reasons:
Manufacturing Products in the US is a Dying Trend
With costs being cheaper overseas or even south of the border, many companies have to make decisions about where to manage costs. Many times that comes with importing manufactured parts. Sure they may be assembled in the US, packaged in the US and sold in the US but some of the jobs involved in bringing that product to market do not support American families. It can’t always be helped but YakAttack has been very purposeful in trying to keep everything stateside, sometimes at great expense to the company and at the expense of potential profits. From many conversations with YakAttack President Luther Cifers I can tell you doing it right gets priority over doing it big.
Another Sign of a Healthy Growth Market
The 507 ranking (a 90th percentile finish) for a company that focuses mainly on kayak accessories and rigging shows the continued explosion of kayak fishing. That is a great sign for retailers and specialty shops around the country. From simplicity to technical rigging, kayak fishing offers a customization that few other sports/hobbies can rival.
Leadership and Entrepreneurship are Not Dead
With a good leader, a good plan and a driving need to constantly look to improve many companies will succeed. YakAttack is a strong representation of that. Cifers is known to many in the kayak world as a mad scientist. The team he leads is constantly pushing the boundaries of what had been a fairly stagnant market. Spending time with these guys you hear a lot of the word why. It’s usually enmeshed with other words like “why can’t we” or “why not”. Working through the process of making a better mousetrap seems to invigorate his team. The most recent evidence of this being a new anchor trolley that has been a limited release thus far but will have public availability in the coming weeks if not sooner. This iteration solves several long standing problems with the standard anchor trolley which has been the same for at least a decade.
Innovation, strong leadership and doing things for the right reason are a formula that looks to propel this company well into the future.
YakAttack LLC Ranks No. 507 on the 2015 Inc. 5000 with Three-Year Sales Growth of 902%
Burkeville, VA, August 12, 2015 – Inc. magazine today ranked YakAttack LLC No. 507 on its 34th annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. A 3 year sales growth of 902% from 2011 to 2014 puts YakAttack in the 90th percentile of an elite group of companies making the list, which represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Companies such as Yelp, Pandora, Timberland, Dell, Domino’s Pizza, LinkedIn, Zillow, and many other well-known names gained early exposure as members of the Inc. 5000.
“This is a special moment for us,” said YakAttack President Luther Cifers. “Since starting in a friend’s basement with a minimal investment back in 2009, we’ve worked relentlessly to grow YakAttack organically, creating American manufacturing jobs by providing the marketplace with simple, smart solutions for kayak and small boat rigging. Our team has worked hard and we’re very proud of this accomplishment.”
The 2015 Inc. 5000, unveiled online at Inc.com, is the most competitive crop in the list’s history. The average company on the list achieved a mind-boggling three-year growth of 490%. The Inc. 5000’s aggregate revenue is $205 billion, generating 647,000 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 story of this year’s Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top,” says Inc. President and Editor-In-Chief Eric Schurenberg. “You have to remember that the average company on the Inc. 5000 grew nearly six-fold since 2012. Business owners don’t achieve that kind of success by accident.”
YakAttack LLC is a developer and manufacturer of rigging accessories for paddlesports, small boat, and marine markets, focused primarily on kayak fishing. Located in Burkeville, VA, YakAttack currently employs 24 people.
John Hipsher, Sales and Marketing Manager
More about Inc. and the Inc. 500|5000 Methodology
The 2015 Inc. 5000 is ranked according to percentage revenue growth when comparing 2011 to 2014. To qualify, companies must have been founded and generating revenue by March 31, 2011. They had to be U.S.-based, privately held, for profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2014. The minimum revenue required for 2011 is $100,000; the minimum for 2014 is $2 million. The complete Inc. 5000 list can be found at http://www.inc.com/5000.