The South Florida Sun Sentinel published an excellent piece over the weekend which spotlighted IQ Formulations remarkable business successes over the past five years. This included the company’s recent inclusion on both the Inc. 5000 list of the nation’s fastest growing private companies, as well as GrowFL’s Florida Companies to Watch list for 2015.
Check out the full article and its quotes from CEO Jay Cohen of IQ Formulations below:
Broward supplement maker recognized as ‘company to watch’
A 5-year-old company in Tamarac that makes weight loss and body conditioning supplements has been recognized by an economic development program as one of 50 “Florida Companies to Watch.”
IQ Formulations, whose products are sold at pharmacies, vitamin stores and online, has grown from two employees and $100,000 in sales in 2010 to 46 employees this year with $20 million in projected sales, said Jay Cohen, the company’s president and chief executive.
The distinction as a company to watch is awarded by economic development group GrowFL and the Edward Lowe Foundation, a Michigan based organization that offers education programs for entrepreneurs. GrowFL was created in 2009 by the Florida Legislature to provide strategies, resources and support to “secondstage”
companies — businesses that have outgrown the startup stage and are ready for growth.
Cohen said the recognition is a testament to the brand, the products they make and the people behind the company.
The award will likely open doors to IQ Formulations within the industry and strengthen existing relationships, Cohen said. This year, IQ Formulations also ranked No. 572 in the Inc. 5000 list of the fastestgrowing private U.S. companies.
Attention from the Inc. 5000 and GrowFL honors has also increased the Tamarac company’s profile within the community and encouraged people looking for jobs to contact the company, Cohen said.
“It has expanded our future employee base to fantastic candidates I wouldn’t have known about,” Cohen said. “It’s like getting a text message from a longlost friend. It warms your heart.”
A group of professionals from economic development, banking and small business industries chose the winners. Combined, their companies made more than $1.2 billion in revenue and added 996 jobs between 2011 and 2014, according to GrowFL.
Other South Florida winners include: Fit2Go, Leapfactor, Momentum Consulting, Pan American Food Brokers and YellowPepper, all in MiamiDade County; LogoUp.com, Moguldom and WomenCertified, Inc. in Broward County; Image Skincare, KRS Global Biotechnology, Locus Traxx, Quantachrome Corp. and Source1 Purchasing, all in Palm Beach County.
The 50 companies will be honored at a ceremony Nov. 5 at Hard Rock Live in Orlando.