Source1 Purchasing Becomes Part of America's Fastest-Growing Private Companies--the Inc. 5000

BOYNTON BEACH, Fla., Sept. 1, 2016 /PRNewswire-iReach/ -- Source1 Purchasing, a leading national purchasing services provider for the leisure, lodging and gaming industries, announced that they have been ranked one of America's fastest-growing private companies by Inc. Magazine. The Inc. 5000 represents a unique look at the most successful businesses within the American economy's most dynamic segment— its independent small businesses.

With 3-year revenue growth reaching an outstanding 239%, Source1 Purchasing is honored to rank in the top one-third of the Inc. 5000 (position 1580). The purchasing organization began business in 1998 partnering with hotels, restaurants, casinos and independent food operators as a source for operators to access nationally negotiated pricing for their food and beverage items. Now, the organization also offers a variety of purchasing programs with ancillary products, high-touch customer service, and data/analytics to support their customers through the purchasing process.

"We are operators serving operators and this is our passion. Our team feels honored to be recognized as one of the fastest-growing companies in America. With a strong team effort that continues to expand, we strive every day to make a powerful impact in the hospitality and lodging segments," says Scott Hoffmire, CEO/President of Source1 Purchasing.

The 2016 Inc. 5000 unveiled online at Inc.com and the top 500 companies featured in the September issue of Inc. is the most competitive crop in the list's history. The average company on the list achieved a mind-boggling three-year growth of 433%. The Inc. 5000's aggregate revenue is $200 billion, and the companies on the list collectively generated 640,000 jobs over the past three years, or about 8% of all jobs created in the entire economy during that period.

"The Inc. 5000 list stands out where it really counts," says Inc. President and Editor-In-Chief Eric Schurenberg. "It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great – usually from scratch. That's one of the hardest things to do in business, as every company founder knows. But without it, free enterprise fails."

About Source1 Purchasing

Founded in 1997, Source1 Purchasing is a purchasing services organization with $7 billion in purchasing power. Source1 Purchasing specializes in providing cost management, savings, and operational efficiencies for lodging, leisure, restaurant and gaming industries, helping operators increase profits through purchasing. The award-winning Source1 team creates solutions that empower operators of all sizes to reduce costs, ensure consistent product quality, and achieve higher customer satisfaction. For more information, visit www.source1purchasing.com or call (877) 717-5566.

More about Inc. and the Inc. 500|5000

The 2016 Inc. 5000 is ranked according to percentage revenue growth when comparing 2012 to 2015. To qualify, companies must have been founded and generating revenue by March 31, 2012. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2015. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2012 is $100,000; the minimum for 2015 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.'s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.

About Inc. Media:

Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today's innovative company builders. Winner of the National Magazine Award for General Excellence in both 2014 and 2012. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 15,000,000 today.  For more information, visit www.inc.com. 

The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation's most successful private companies has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates their remarkable achievements. The event also offers informative workshops, celebrated keynote speakers, and evening functions.

For more information on Inc. and the Inc. 5000 Conference, visit http://conference.inc.com/. 

Media Contact: Brittany Ventriglio, Source1 Purchasing, 901-209-0192, Brittany.Ventriglio@Source1Purchasing.com

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SOURCE Source1 Purchasing