HTeaO Recognized by Inc. Regionals 2023: Fastest-Growing Companies in the Southwest
Original Article: PR Newswire - March 16, 2023
FORT WORTH, Texas — HTeaO, America’s largest iced tea franchise, ranked No. 59 on Inc. magazine’s fourth annual Inc. 5000 Regionals Southwest list, the most prestigious ranking of the fastest-growing private companies based in Arizona, New Mexico, Oklahoma, and Texas. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Southwest economy’s most dynamic segment–its independent small businesses.
The Inc. Regionals recognizes additional up-and-coming fast-growth companies in key regions across the country. HTeaO was one of 166 companies recognized for its two-year revenue growth from 2019 to 2021 and southwest expansion. HTeaO experienced a Two-Year Revenue Growth of 240 Percent.
“Growing regionally has always been our strategy to test, perfect, and enhance our business model as we bring it to more communities across the United States,” said Andrew Hawes, Chief Development Officer of HTeaO. “We’re honored that our expansion has been recognized by Inc. Magazine for our efforts expanding across the southwest region.”
The companies on this list show a remarkable rate of growth across all industries in the Southwest region. Between 2019 and 2021, these 166 private companies had an average growth rate of 557 percent and, in 2021 alone, they added 16,116 jobs and nearly $5.5 billion to the Southwest region’s economy. Companies based in the Austin, Scottsdale and Fort Worth areas had the highest growth rates overall.
“This year’s Inc. 5000 Regional winners represent one of the most exceptional and exciting lists of America’s off-the-charts growth companies. They’re disrupters and job creators, and all delivered an outsize impact on the economy. Remember their names and follow their lead. These are the companies you’ll be hearing about for years to come,” says Scott Omelianuk, editor-in-chief of Inc. magazine.
The 2023 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2019 and 2021. To qualify, companies must have been founded and generating revenue by March 31, 2019. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2021 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
About HTeaO
HTeaO is the leading iced tea franchise and is breaking into a niche category within the beverage industry. With a cost-effective business model, the brand operates their own supply chain, significantly lowering the cost of goods. HTeaO serves ultra-premium tea, water and coffee related products to customers in-store and through a drive-thru. 26 handcrafted flavors of sweetened and unsweetened tea are sold at each location, created with a proprietary water filtration system, and 100% all natural ingredients. In early January this year, HTeaO announced a minority partnership with two Dallas based Private equity firms: Crux Capital and Trive Capital. Financial terms of the transaction were not disclosed, and the partnership will help to ensure HTeaO’s stable expansion. HTeaO believes in creating a welcoming atmosphere and makes a large effort to give back to the local community. For more information about the franchise opportunity, visit https://hteao.com/franchise/.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent.
