"The Inc. 5000 represents the backbone of the U.S. economy," said Jim Melloan, Inc. 5000 project manager. "It tells the story of many companies that go underreported in the business media."
Power Equipment Direct is one such story. The online power equipment retailer has grown significantly since Jon Hoch started it after an awful experience shopping for a lawnmower in 2002.
Hoch founded the company based on the premise of simplified shopping. Customers could sort through all of the leading power equipment products online from the comfort of their homes - no traffic jams, no crowds, no scratched tailgates.
Plus, all of the equipment - including hard-to-find accessories - would ship directly from the factory to the customer's door, eliminating the need for stores, warehouses and clueless clerks.
Power Equipment Direct streamlined the sales process and rewarded customers with factory-direct discounts and a sales tax-free guarantee on its vast selection of products.
Power Equipment Direct is now one of the nation's fastest growing online retailers with gross sales skyrocketing by 554% between 2003 and 2006.
The Bolingbrook, IL-based companies currently operates three niche web stores:
In addition, the company plans to open more online specialty superstores, including SnowBlowersDirect.com later this fall.
The 2007 Inc. 5000 list measures revenue growth from 2003 through 2006. To qualify, companies had to be U.S.-based and privately held, independent - not subsidiaries or divisions of other companies - as of December 31, 2006, and have had at least $200,000 in revenue in 2003, and $2 million in 2006.
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