Charlotte, NC, October 22, 2004 - Clubfurniture.com (One Source Plus, Inc), a leading online retailer of high-quality, hand-crafted, North Carolina upholstered furniture, and accessories announced today that it has been named to Inc. Magazine's 23rd annual list of the 500 Fastest Growing Private Companies. Inc. Magazine, the premier publication for small-and-medium-sized businesses, ranked clubfurniture.com first among NC-based retailers and second among all NC companies. In its first year eligible for the list, clubfurniture.com ranked 301 nationally, with a four-year average annual sales growth of 482%.
"We believe clubfurniture.com is the premier online retailer of high-quality hand-crafted North Carolina upholstered furniture, and this honor reinforces that belief," said, Darrin M. King, president of clubfurniture.com. "We are very pleased to be included on Inc. Magazine's impressive list, which in the past has recognized other rapidly emerging companies that have gone on to become dominant market leaders."
Through its online retail store www.clubfurniture.com offers leather, fabric and slipcover upholstered seating pieces that are hand-crafted by almost 100 skilled NC artisans, who have hundreds of years combined experience in developing truly exceptional furniture. Each piece is built to order and shipped direct from two factories located in the Hickory area of North Carolina.
"Clubfurniture.com and our customers agree that North Carolina makes the best furniture in the world," said, Darrin M. King, president of clubfurniture.com. "It is important to us to continue the fine tradition of North Carolina furniture, especially in this economy."
To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 2000 for new applicants, and $2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002 sales. Companies are ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.
The best thing you can say about this years crop of Inc. 500 entrepreneurs is that they didn't buy into the hype, said Inc. editor-in-chief John Koten. When people were practically giving away funding in the late 1990s, these companies didn't overextend, and when everyone hit the panic button a few years later, they stayed calm and seized opportunity.
Over the years, the Inc. 500 has identified the next generation of world-class companies, with Microsoft, Stonyfield Farms, Timberland, Oracle, The Princeton Review, Morningstar, E* Trade, Intuit, and Domino's Pizza all appearing on the list before they became industry powerhouses. Copies of the Inc. 500 issue will be available on newsstands nationwide beginning October 26.
Inc., the only business magazine dedicated exclusively to owners and managers of fast-growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc. is the premier publication that focuses on small to medium-size businesses, which are responsible for more than half the nation's gross domestic product and 75% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner + Jahr USA publication, inspires and informs, with cutting-edge coverage that reflects our readers' energy, brashness, and imagination.
Founded by brothers Darrin and Jeff King in 1998, clubfurniture.com is a leading retailer of Internet and catalogue home furnishings. Clubfurniture.com offers leather, fabric and slipcover upholstered seating pieces that are hand-crafted by almost 100 skilled NC artisans, who have hundreds of years in combined experience in developing truly exceptional furniture. Each piece is built to order and shipped direct from two factories located in the Hickory area of North Carolina. For more information go to www.clubfurniture.com.
Contact: James Abt
Lead Dog Communications