Past Winner Stories
University Loft Co.
www.universityloft.com
"We've had many miracles and beaten the odds. Our blessing has been the fruits of hard labor."
James Jannetides owns a $24 million Indianapolis company with 30 percent market share-all because of a cramped dorm room. As a college freshman, he found that space was at a premium, so when he returned for his sophomore year, he built a loft bed. Students quickly began clamoring to get loft beds of their own, and that summer, he built 400 of them to sell during the next term. Hence, University Loft Co. was born.
Starting with $15,000 from a business he had launched while in high school, Jannetides faced major challenges. He needed to educate consumers about environmentally farmed timber, a quality wood that helps guard natural resources. And as a new company, University Loft was up against stiff competition from well-established businesses.
To be a socially responsible company and to lessen the environmental impact, University Loft has been at the forefront of environmental efforts. The company encourages federal agencies to create their own strategies to ensure a high quality of life for future generations.
To become a player in a crowded market, University Loft has created a fleet of mobile showrooms that travel to college campuses so customers can checkout the company's products firsthand.
Sales doubled in 1999, with projections for 2000 increasing to $35 million. A 500,000-square-foot warehouse has opened, and market share is growing every year.
James Jannetides owns a $24 million Indianapolis company with 30 percent market share-all because of a cramped dorm room. As a college freshman, he found that space was at a premium, so when he returned for his sophomore year, he built a loft bed. Students quickly began clamoring to get loft beds of their own, and that summer, he built 400 of them to sell during the next term. Hence, University Loft Co. was born.
Starting with $15,000 from a business he had launched while in high school, Jannetides faced major challenges. He needed to educate consumers about environmentally farmed timber, a quality wood that helps guard natural resources. And as a new company, University Loft was up against stiff competition from well-established businesses.
To be a socially responsible company and to lessen the environmental impact, University Loft has been at the forefront of environmental efforts. The company encourages federal agencies to create their own strategies to ensure a high quality of life for future generations.
To become a player in a crowded market, University Loft has created a fleet of mobile showrooms that travel to college campuses so customers can checkout the company's products firsthand.
Sales doubled in 1999, with projections for 2000 increasing to $35 million. A 500,000-square-foot warehouse has opened, and market share is growing every year.