Change in Domain
Transitioning a Business
Avoiding the Fiscal Cliff
Utah’s Genome Projects
Plan to Succeed
New Game in Town
Corporate Cuisine Awards
A Day Late & A Dollar Short
Companies to Watch
Companies to Watch
These businesses are on their way to making it big.
Sarah Ryther Francom and Heather Stewart
August 1, 2012
Origins: In 2006, Larada Sciences was spun-off from research conducted at the University of Utah Department of Biology. Its Lousebuster received FDA clearance in 2009 and the product was launched in 2010.
What makes it unique: The Lousebuster is a non-chemical alternative to traditional lice treatments. It only requires one treatment that takes less than an hour, while chemical treatments are harsh and require two treatments total, along with several sessions of nit-picking. In many places, lice are becoming resistant to the chemicals.
Future plans: Larada Sciences has already begun leasing its equipment to businesses, schools and clinics. So far, the company has 30 service providers in the United States and 17 internationally. The next step, says CEO Larry Rigby, is to create a franchise opportunity that will provide a complete, branded, turn-key operation to entrepreneurs.
“We’ve begun setting up entrepreneurs who want to start their own business in this industry providing treatments as a service…We have the largest network of service providers in this industry in the world.”
Larry Rigby, CEO, Larada Sciences
Origins: Zarbee’s was founded in 2008 by pediatrician Zak Zarbock
What makes it unique: In 2007, the FDA ruled that the current cough medicines should not be given to children under the age of four. Zarbee’s cough syrup was formulated based on clinical research showing that dark honey was effective at soothing sore throats and coughs. Zarbee’s includes dark honey, zinc, vitamin C and natural flavorings and is safe for children 12 months and older.
Growth trajectory: Zarbee’s is now available in several major grocery stores and pharmacies. About 40,000 pediatricians are currently recommending the product and giving out samples to patients, according to CEO Bryce Johnson. The company plans to release a version for adults in within the next two months, and within the next year it will introduce a total of 12 new products.
“We are first to market with a cough syrup that is all natural and also backed by clinical research.”
Bryce Johnson, CEO, Zarbee’s
Origins: Launched in October 2010, this Latino-themed grocery store has four locations in Ogden, Midvale, West Valley and Fairpark.
Greatest accomplishment: The company’s marketing strategy that focuses on the Latino family has helped the Viva brand grow quickly has been key to the company’s rapid success.
Future plans: After less than two years in business, the company has experienced sales in excess of $14 million. Viva Markets is on schedule to expand rapidly throughout the Pacific Northwest states within the next year, fulfilling the needs of many underserved Latino communities.
“We take great pride in being sure our customers are 100 percent satisfied with their shopping experience.”
Dennis Lorencz, COO, Viva Markets
Origins: Launched in 2004, InsideSales.com develops automation and productivity enhancing technologies for the inside sales team.
Greatest success: The Provo-based company experienced a 225 percent growth rate from 2007 to 2011, which was accomplished without venture funding. The company has also been able to attract and land major enterprise accounts including Dell, Groupon and others.
Innovative technology: CEO David Ellington says innovation sets InsideSales.com apart. The company’s products enable its clients to deliver a local touch during their prospecting efforts, which dramatically increases their ability to make contact and ultimately improves their close rates.
“We expect to rock the sales world with our introduction of sales predictive analytics, leveraging big data. Our goal is to ultimately enable our clients to dramatically out sell their competitors.”
Origins: Qualtrics was launched in 2002 by Scott Smith, Stuart Orgill and Ryan Smith. Its Qualtrics Research Suite allows companies to conduct online data collection and analysis including market research, customer satisfaction and loyalty, product and concept testing, employee evaluations, and website feedback. Qualtrics now has 4,000 customers including half of the Fortune 100.