- Born in 2014, the Garrett Companies is already one of the fastest-growing private companies in America. The real estate startup's business model and unique hiring practices might explain why
Source | www.inc.com |
Eric Garrett vividly remembers his first apartment. He was 5 years old, living close to the poverty line in Evansville, Indiana, and his single mother had finally saved enough money to afford a security deposit and first month’s rent. As they stood in a room devoid of furniture, with their few boxes of belongings, Garrett felt an acute sense of pride: They had a home that was only theirs.
Now 41, he develops, builds, and manages apartment complexes for other families across the United States–successfully, if you judge by revenue from his four-year-old startup the Garrett Companies. In 2014, the company made $550,000. Last year, it pulled in more than $82 million, and this 14,822 percent growth rate earned it the No. 10 spot on this year’s Inc. 5000 list of America’s fastest-growing private companies. According to Garrett, the 47-employee company is projected to make more than $238 million in 2018 revenue. (He says the company is profitable, but declined to give specific figures.)