Legend Solar Ranks No. 29 on the 2016 Inc. 5000 with Three-Year Sales Growth of 7,102 Percent
Inc. magazine today ranked Legend Solar No. 29 on its 35th annual Inc. 5000, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Companies such as Microsoft, Dell, Domino’s Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow and many other well-known names gained their first national exposure as honorees of the Inc. 5000.
Legend Solar was ranked No. 1 among Utah companies and No. 2 in the Energy Industry in this year’s list.
“Being ranked near the top of this incredible group of entrepreneurs is an honor,” said Shane Perkins, co-owner and co-founder of Legend Solar. “This has been a team effort, and we appreciate everyone at our company who has worked so hard to build Legend Solar. We appreciate the opportunity to be able to share our successes with the entrepreneurial world.”
Perkins and his fellow co-owner and co-founder, Shaun Alldredge, launched Legend Solar in 2012. Working out of their cars, driving around their hometown of St. George, Utah, meeting with businesses and residents, and using the free Wi-Fi at their favorite bakery, these two tenacious men knew the market was ready for a more sustainable, renewable and efficient way for Intermountain West residents to live and work.
Since that first year of working out of their cars, Legend Solar has rapidly become a leading solar company in Utah. In 2015, they achieved 400 percent growth, a remarkable milestone that brought a revenue increase from $3.7 million to $18.3 million year over year.
“This year has been very fulfilling,” Alldredge said. “While we still have a lot of work to do to complete our goals, being recognized by SunPower, QuickBase and others this year has been a tremendous honor. These awards validate our hard work and drive us to continue providing the best solar options available for homeowners and businesses.”
The 2016 Inc. 5000, unveiled online at Inc.com and with the top 500 companies featured in the September issue of Inc. (available on newsstands Aug. 23), 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 percent. 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 percent 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.”
The annual Inc. 5000 event honoring all the companies on the list will be held from Oct. 18 through 20, 2016 in San Antonio, Texas. Speakers include some of the greatest entrepreneurs of this and past generations, such as best-selling author and strategist Tony Robbins, SoulCycle co-founders Elizabeth Cutler and Julie Rice, Cornerstone OnDemand founder, president and CEO Adam Miller, Marvell Technology Group director and co-founder Weili Dai, and New Belgium Brewing co-founder and executive chair Kim Jordan.
Legend Solar has also been honored in Utah as one of the Emerging 8 companies by Utah Business. In this annual recognition program, the fastest growing companies in Utah are celebrated for their entrepreneurial spirit, innovative business tactics and skyrocketing revenue growth. While the Fast 50 are selected based on a combination of revenue growth and total revenue, Utah Business also recognizes eight emerging companies who have not been in business the required five years, but are already sending off sparks.