1. CASTLEWAVE
Founded 2007 City Provo Employees 23 Industry Technology Web site www.castlewave.com Founders Rich Christiansen, 45;
Ron Porter, 57
What It Is A provider of search engine optimization.
Why It’s Watch-Worthy What started as a $5,000 bootstrap has turned into a million-dollar company, thanks to rock star leadership from serial entrepreneurs with a passion for business and bootstrapping.
The Big Break “Warner Music was our first big account. We spent a month listening to Michael Buble, Madonna, P. Diddy and Ashley Tisdale.”
The High Point “Our first hires were four really smart high school students. These young men have performed tasks that most college graduates could not perform. It has been fun to help these students develop skills that will help them to go out and change the world.”
The Low Point “We made a few poor hires. It is always tough to have to terminate people.”
The Advice “Read ‘Bootstrap Business’ (a shameless plug for our book). A second would be to fail efficiently. There are going to be failures. Do it as rapidly as you can because that will bring the successes quicker.”
In 2015 “Sold! I will have created at least three more multimillion dollar companies by then.”
2. COMPLETE MERCHANT SOLUTIONS
Founded 2008 City Orem Employees 26 Industry Electronic payments Web site www.cmsonline.com Founders David Decker, 35; Kyle Hall, 27; Trever Hansen, 32
What It Is A provider of merchant services.
Why It’s Watch-Worthy With staggering revenues in its short lifetime (the company grossed $2.5 million in its first year of business), Complete Merchant Solutions has used strong management and expert execution to become an instrumental force in its industry.
The Big Break “When we were officially accepted as a registered bankcard processor for Visa and MasterCard.”
The High Point “When an industry legend accepted our offer to assume the reigns as CEO.”
The Low Point “The second we realized we were scammed by a professional Russian Mafia group out of California for $110,000.”
The Advice “Test as many different industries as you can early in your career. Once you’ve identified the industry you want to set your stakes in, focus on the soft spots (i.e. under-served areas). Tailor your go-to-market strategy to fully capitalize on those soft spots and start chipping away at market share.”
In 2015 “We’ll be a nationally recognized brand within our industry, acknowledged as a ‘Top 50 Bankcard Processor’ in America (based on transactional volume), and listed in the top 10 of BusinessQ’s ‘Top Revenue’ list.” (Editor’s Note: We’ll see you in 2015.)
3. BLUE LEMON
Founded 2009 City Highland
Employees 26 Industry Dining
Web site www.bluelemonutah.com
Founders Lychelle Day, 29; Aaron Day, 29
What It Is A restaurant and bistro that specializes in the “clean food” movement.
Why It’s Watch-Worthy Opening a successful restaurant at any given time is worth a celebration. But opening a successful restaurant in a recession? Now that’s parade-worthy.
The Big Break “Just getting open. It was a battle.”
The High Point “The customer feedback. We have such loyal customers.”
The Advice “Have a good idea, a good foundation and a strong conviction. And then just go for it.”
In 2015 “We’ll have multiple locations.”
4. FAMILYLINK
Founded 2007 City Provo Industry Technology Web site www.familylink.com
Founder Paul Allen
What It Is A provider of a family social experience platform.
Why It’s Watch-Worthy FamilyLink has found monumental success with more than 60 million users, 500 million family connections, 20 million monthly active users, 1.2 billion indexed names and 200,000 poll responses daily. Plus, its flagship application, “We’re Related,” is the top family application on Facebook.
5. FRANCHISE FOUNDRY
Founded 2008 City Orem Employees 12 Industry Franchise development Web site www.franchisefoundry.com Founder Christian Faulconer, 38; Corey Spencer, 35; Ryan Frandsen, 34
What It Is A growth capital/consulting services firm that invests in and helps emerging brands grow through franchising.
Why It’s Watch-Worthy In just a short window of time, Franchise Foundry has redefined what it means to be a franchise consultant by actually investing capital in its clients — and it’s paying off. Under its direction, Spoon Me grew from two franchises and three corporate stores to 13 franchises, three corporate stores and a 25-store master franchise agreement with Western Canada; and Fairway Divorce grew from six to 17 franchises in Canada and zero to six franchises in the United States.
The Big Break “When we added Fairway Divorce to our portfolio, it was a big deal for us. They took a risk on a company that hadn’t proved itself yet, and we’ll always appreciate them for that.”
The High Point “Capping off a successful 2009 during a tough economy.”
The Low Point “The day the team talked me (Faulconer) into wearing a hotdog suit.”
The Advice “Do what you love and work hard.”
In 2015 “By 2015, Franchise Foundry will have changed the way the franchising industry helps emerging franchises grow.”
6. KYNETX
Founded 2007 City Lehi Employees 15 Industry Software Web site www.kynetx.com Founders Stephen W. Fulling, 46; Phillip J. Windley, 51
What It Is A provider of development tools that create context-sensitive, cross-platform apps that help build relationships between app owners and users.
Why It’s Watch-Worthy Founded by leaders in Utah’s tech field (the pair created iMail, the first e-commerce platform for small to medium-sized merchants), Kynetx is quickly on its way to standout success with a unique product, big buzz and strategic partnerships.
The Big Break “Strategic investment with Acxiom.”
The High Point “Signing our first deal with a multibillion-dollar company through our strategic investment partner, Acxiom.”
The Low Point “The first pitch ever. We sucked.”
The Advice “Believe.”
In 2015 “The next billion-dollar company in Utah.”
7. METER SOLUTIONS
Founded 2007 City Provo Employees 20 (on average) Industry Utilities Web site www.metersolutions.com Founders Paul Dickson, 24; Taylor Turnbull, 24
What It Is An installer of automated meter reading devices on water, gas and electric meters.
Why It’s Watch-Worthy With an ever-growing industry and smart execution, this student-run company has positioned itself as an industry leader and installed more than a quarter million devices.
The Big Break “We were awarded a contract with Questar Gas company to install AMR devices on every gas meter in St. George and Cedar City.”
The High Point “We were named the BYU Student Entrepreneurs of the Year.”
The Low Point “The first project we did was in California, and the company who hired us didn’t pay its final invoice of more than $25,000, which really hurts a cash-struggling startup.”
The Advice “Don’t be afraid to start a company if you believe in it and are willing to work hard.”
In 2015 “We will grow Meter Solutions into the premier AMR/AMI installation company in the nation. We should also have a strong international presence in Europe, South America and Canada. Currently, more than 70 million devices are planned to be installed in coming years, which provides an incredible growth opportunity for our company.”
8. FOR EVERY HOME
Founded 2008 City Lindon Employees 20 Industry Direct sales Web site www.foreveryhome.net Founders Becky J. Anderson, 50; Paul Anderson, 54
What It Is A direct sales company that sells fragrance products and is a sister company to For Every Body.
Why It’s Watch-Worthy With more than 1,700 consultants and more than $1 million earned in its first year of business, For Every Home has catapulted to success. And with For Every Body doing nearly $20 million in sales in 2009, For Every Home has a strong home base to grow from.
The Big Break “Puerto Rico. The business down there is growing so quickly among working moms.”
The High Point “Seeing the business take off and women being successful.”
The Low Point “The long hours of work and the down economy. However, all challenges are opportunities, and we have learned a lot.”
The Advice “Stay at it, have passion, think big and look at challenges as opportunities. One of my favorite quotes is, ‘It’s the fast that eat the slow, not the big that eat the small.’”
In 2015 “We’ll be recognized as the most successful innovative home fragrance company in the country.”
9. INSTANTAV
Founded 2009 City American Fork
Employees 8 full time, 11 contractors
Industry Software/Signage
Web site www.instantav.com
Founders Bob Long, 55; David Daniels, 52
What It Is A provider of portable digital signage solutions.
Why It’s Watch-Worthy With an experienced and proven executive team at the helm (they have a combined history of more than 80 years in high-tech solutions), InstantAV has an exciting future with its one-of-a-kind product in a developing market.
The Big Break “Our first sell was to a high-profile client that validated our entire business plan.”
The High Point “Assembling a talented team of people that we like to work with, starting with a bold vision and working to create an entirely new product in a totally new and undeveloped marketplace.”
The Low Point “Raising investor capital during the worst capital market in 71 years.”
The Advice “Begin with a bold vision and then be willing to burn the ships in the harbor. Once you start, there will be plenty of obstacles. But each one presents an opportunity to adjust and move forward.”
In 2015 “We’ll be the world leader in digital signage product and services.”
10. MAAKOA
Founded 2009 City Orem Employees 14 Industry Network marketing
Web site www.maakoa.com
Founders Bruce Davis, 48; David Simpson, 52
What It Is A direct sales company whose flagship products are the antioxidant beverage Koopuwa and its line of MXP3 Xtreme Performance Protein Powders.
Why It’s Watch-Worthy In a valley that’s been more than kind to network marketing companies, Maakoa has made quite the splash. Since its launch last year, the company has skyrocketed in growth and invested an interest in local programs (the company was the title sponsor of the Stadium of Fire last year and is a major sponsor of the Utah Flash).
The Big Break “We’ve been blessed with a solid, steady growth from the beginning, and every day Maakoa gets stronger and stronger.”
The High Point “Coming out with our two amazing products in a perfected state. They were sent back multiple times before they were accepted.”
The Advice “I don’t care who you are, believe in yourself and never quit.”
In 2015 “We’ll be global and one of the most successful network marketing companies in history.”
The Startups To Watch list was selected from a pool of applicants that have less than three years of operating history. The winners were determined by BusinessQ’s editorial board.