GRAND RAPIDS, Mich. (WOOD) — A sports bra company based in West Michigan has been honored by Entrepreneur Magazine as one of the best entrepreneurial companies in America.
Shefit landed at 293 on the list of 300 companies. It’s a huge honor for the company that only officially launched a year ago.
“Sometimes it’s hard for us to sit back and look at all we have accomplished, all that we have done in such a short amount of time. And when you look at that list that’s so prestigious, everybody wants to be part of that list. You can’t get any higher than that for a small, privately-owned company,” said Sara Moylan, founder of Shefit.
Their whirlwind year started with a trip to the show “Shark Tank.” The episode featuring their product, the Shefit bra, aired at the end of January 2016.
Sara and her husband Bob made a deal with FUBU founder Daymond John, taking $250,000 for a third of their business.
Before appearing on “Shark Tank” the Moylans said their company made $190,000 in sales from August 2015 until the end of that year. After their “Shark Tank” appearance, Shefit has had $1.2 million in gross sales from January 2016 until now.
After their episode aired they sold more than 16,000 Shefit bras.
So what makes this bra so great? Its creators say it’s easy to put on, washable and Shefit has customizable support with a fit for every woman of every size.
“I started this company to help solve a common problem for women of every size and every age – and being recognized for the work our team is doing is quite exciting and incredibly humbling,” Sara said in a release.
The number one company on Entrepreneur Magazines’ list this year has been around for more than a decade, which makes what this husband and wife team did in less than a year impressive.
“Not only did they look at market growth, but target market growth as well. They’re looking at your expansion planning, they’re looking at your business process, your company dynamic, your functions, the ins and outs and culture. There are so many things that went into this list,” said Sara.
“The Entrepreneur 360 List celebrates outstanding companies for the value they bring to the world, not just the worth of their company,” said Ryan Shea, president of Entrepreneur Media, Inc., in a release. “The companies on this list exemplify growth, not just in top and bottom line, but in their ability to create a superior value for their customers, build adaptive learning cultures, and drive innovation in their marketplace.”
“We’ve come a really, really long way in a short period of time. It’s been a fun ride, but a difficult journey at the same time,” said Bob.