7-Eleven Makes List of America's Fastest-Growing Private Cos.
NEW YORK -- Convenience chain 7-Eleven Inc. is among the prominent brands featured on Inc. magazine's fourth annual Inc. 5000, an exclusive ranking of the nation's fastest-growing private companies.
The Dallas-based convenience store retailer landed at No. 4,929 on this year's list. However, 7-Eleven ranked second among all Inc. 5000 companies based on 2009 total revenue, at $15.1 billion, the report stated.
Despite the fact that most of this year's measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96 percent from last year's 126 percent. This year's Inc. 5000 employ a record 1.4 million people, up from 1 million on last year's list.
"The leaders of the companies on this year's Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression," Inc. President Bob LaPointe stated. "The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs."
Once again, California tops the Inc. 5000 with the most companies of any state with 684. The Golden State is followed by Texas (404), New York (353), Virginia (293), and Florida (262). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year's list.
New York boasts 410 Inc. 5000 companies, making it the top metro area, followed by Washington, D.C. (363), Los Angeles (262), Chicago (203), and Boston (189).
The 2010 Inc. 5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be based in the United States, privately held, for profit and independent -- not subsidiaries or divisions of other companies -- as of Dec. 31, 2009. The minimum revenue required for 2006 is $80,000; the minimum for 2009 is $2 million.