Our annual class of the region’s fastest-growing firms roared through 2019, posting big sales numbers amid the robust economy. Then, that COVID-19 thing hit. (Spoiler alert: Most of them fared well)
Jennifer Trevino, Leadership Fort Worth’s new director, has a vision of diversity and inclusion
WHAT’S IN A NAME CHANGE?
Tribe Alive’s Carly Burson on why she’s rebranded to LAUDE the Label
Brent Tipps On Deck Concepts
Whitley Penn is dedicated to providing our clients with the appropriate guidance that aligns with the latest accounting and consulting trends. Our knowledge, influence and commitment to client service have helped us become one of the Fastest Growing Companies in Fort Worth.
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Contents / Features
Spring 2021
30 Fort Worth’s 30 Fastest-Growing Companies Representing a swath of industries from finance to IT, this year’s third annual class of Fastest Growing Companies experienced quick three-year revenue growth through 2019. While we didn’t take 2020 into account, we did ask each company’s CEO about how they handled the tumultuous year. Here’s what they said.
52 Analyze This/FW Chamber Report: Why economic downturn may be the best time to start a new business
12 Stay Informed: Nine tips for better company
14 Face Time: Looking to dramatically boost its presence in DFW, TechFW’s new assistant director talks about plans for 2021.
20 Off the Clock: Need a boat? This app takes the Airbnb concept out on the water.
22 Wine and Dine: Local chefs say the ghost kitchen trend is more than just a fleeting apparition.
24 Health and Fitness: Despite success, this local gym owner wants his business to stay small. Here’s why.
26 Tech: Podcast pointers from the producer behind Innovate Fort Worth
18 Distinctive Style: Tribe Alive is now LAUDE the Label. CEO Carly Burson delves into the reasons behind the clothing company’s name change — and the arduous process of rebranding.
48 EO Spotlight: Business is booming for restaurateur Brent Tipps.
50 Analyze This/Legal and Tax: Small business owners need not fear federal regulators under Biden, our columnist writes.
54 Analyze This/Wealth: For CFOs, it pays to understand local and state tax laws.
56 Day in the Life: Leadership Fort Worth’s new executive director looks to bring more diversity and inclusion to the program.
Special Advertising Section 43 The Registry
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LGrowing or Dying
egendary coach Lou Holtz has many famous quotes. One that I particularly agree with is “Nothing on this earth is standing still. It's either growing or it’s dying.”
The 30 companies featured in our cover story have done pretty well with growing their topline revenues. For our listing, we ranked the Fastest Growing Companies by percentage of revenue growth — from yearend 2016 to year-end 2019. Annual revenues for the companies on the list range from just over $1.5 million for Napali Capital, a real estate investment company, to $244 million for Higginbotham Insurance. And, while Higginbotham ranked 23rd on the list 57% represents a jaw-dropping $89 million escalation over the three-year period.
The company with the largest percentage growth was WinterGreen Synthetic Grass, who had only $170,969 in revenue in 2016 and finished 2019 with over $2.3 million, a 1,250% increase. The CEO and owner, Winter Moore, participated as a subcontractor in our 2017 Fort Worth Magazine Dream Home. So, we will selfishly take a little credit for providing the WinterGreen Synthetic Grass brand with some unsanctioned promotional exposure which hopefully assisted Winter with his growth.
Another Fastest Growing Company of note is On Deck Concepts, owned and operated by Brent Tipps, who is also featured in our EO Spotlight column on pages 48 – 49. Brent has a great story. He spent the first 15 years of his career working for CiCi’s Pizza, before opening his first BoomerJack Wings restaurant, a small 2,000-square-foot wings and tenders’ concept. In that first year, he grossed a massive $300,000 in sales and almost went belly-up.
Three years later, in 2005, a space came available in Montgomery Plaza, and Brent made a run at it with his BoomerJack Wings. The real estate broker representing Mont-
gomery Plaza told Tipps he didn’t want a wing joint.
No problem, Brent told the broker. I’ve got this new concept. Send me a menu, the broker replied.
With no new concept and no menu to go with it, Brent bought himself a few hours and had a branding company, along with the help of his assistant, cut and paste a menu together (pictures and all) from other casual restaurant menus, added his logo and came up with the name BoomerJack’s Grill.
It worked and they accepted his concept and his lease. Unfortunately, he had no idea how to run a full-service restaurant. He literally created things on the fly, opening without an operation manual or recipe book. He bused tables half the time, just so he could be on the floor and make adjustments by the minute.
Sixteen years later, Tipps has 17 restaurants and sits 21st on our Fastest Growing Companies list based on percentage growth, with $44 million in revenue, up $16 million from 2016 – 2019. Tipp’s projected 2021 sales are $65 million. One of the reasons I launched Fort Worth Inc. magazine was to share inspiring stories like Brent’s.
Like trees, or grass, businesses are either growing or they are dying. Almost 90% of the Fortune 500 companies that existed in 1955 are gone today. As the life expectancy of companies continue to shrink, business owners must be more vigilant than ever in remaining innovative, always looking for opportunities to grow and future-proof their businesses.
Hal A. Brown owner/publisher
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Celebrating over 40 years of service to the Architectural and Engineering industry. Recognized as one of Greater Fort Worth’s Fastest Growing Companies, 2020 Best Companies To Work For, 2020 and 2019.
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Blizzard of Business
COVID-19 triggers a surge in drive-through, delivery, and takeout business for a Fort Worth Dairy Queen franchisee. More stores on the menu?
BY SCOTT NISHIMURA | PHOTO BY OLAF GROWALD
Even after COVID-19 forced the temporary shutdown of in-store dining at his five Dairy Queens and pushed business into the drive-through and third-party delivery, sales still grew last year for Whit Wolman’s restaurant company.
“We did grow. As odd as it sounds,” says Wolman, a Fort Worth-based franchisee who, with a partner, owns Dairy Queens in Lewisville, The Colony, Flower Mound, and two in southern Oklahoma. “I almost hate admitting that. It’s great for the brand, and it’s great for us. But I know there are a lot of people out there suffering.”
To be sure, 2020 and its aftermath, as it was for all restaurateurs, was a challenge for Wolman. Fortuitously, Dairy Queen was several months into a technology push to facilitate online ordering and third-party delivery and improve its drivethroughs when COVID-19 hit. “It put us in a good position in terms of being ready,” Wolman says.
COVID dramatically shifted his business to delivery, takeout, and drive-through. Today, he estimates more than 80% of his sales come from customers who aren’t eating in his dining rooms. Gone are the groups — workers, families, and others — who used to eat in. Will that snap back?
“That’s the million-dollar question,” he said during an interview in February at the Lewisville store. “The longer this thing kind of drags out, the more it makes me wonder if we’ve changed long-term behavior.”
How this question plays out also has long-term implications for the kind of real estate fast-food restaurants need. “You used to want to pay for the main corner, and now, with the advent of delivery, it kind of makes you question that, right?” he says. “You’ve seen other brands come out with concepts where they’ve basically cut the dining room in half.”
Wolman calls himself an unlikely fast-food franchisee. After graduating Texas A&M, where he studied industrial distribution and systems planning, Wolman headed for Washington, D.C., where he spent five years working for U.S. Sen. John Warner of Virginia and then the State Department
over five years. “I got to go to Beirut and Saudi Arabia.” Wolman headed next to the University of Texas, where he obtained his MBA. His wife is from Fort Worth; the couple moved in 2013 to Fort Worth where Wolman, through a connection, went to work for a Dairy Queen franchisee.
“Did site selection, going out, put together real estate deals, all the way basically up to the training and staffing of a restaurant,” he says. In 2016, he and a family member went into partnership and bought the
three North Texas DQs they own today, financing the purchase “internally.” In 2019, they bought the two in Oklahoma, again, “internally,” Wolman says. Today, they have about 100 employees.
A federal payroll protection loan through their banker, Bank of Texas, helped Wolman and his partner over COVID. “You think of when it was available, early April last year, sales were falling out of everything,” Wolman says. “So, we jumped on it pretty quick.”
Seeding a Nonprofit Newspaper in Fort Worth
With a $1.25 million grant from the Burnett Foundation, a nonprofit says it’s ready to open the doors this spring to a local digital newspaper that will focus on accountability in government.
2021 Real Estate Forecast
Fort Worth-area real estate pros chew over 2020 and dish out projections for 2021 at the virtual, annual Tarrant County Commercial Real Estate Forecast.
Music's Contribution to Fort Worth Economy: $500 Million in 2016, Report Finds
With live music shut down by the pandemic, musicians have survived by generating virtual content and more songs, a Visit Fort Worth-commissioned report finds. What will it take to ensure the industry recovers from the pandemic?
Six months prior to COVID, DQ had installed the new ordering technology. “We were kind of working our way through it,” Wolman says. “How do we interact with the customer, how do we ensure we’re saving great food, how do we make sure our ice cream’s cold when they get it. The pizza business’s been doing delivery for 35-40 years. We kind of had to figure it out on our own.”
Wolman and his partner today remain on the lookout for more stores. “I think it goes back to that disciplined approach, making sure it makes sense,” Wolman says. “Make sure the location makes sense. Make sure the real estate makes sense. Make sure it’s a DQ market. It’s not growth for growth’s sake. We’re not trying to get to a number.”
Wolman’s been following the national debate over the Biden Administration’s proposed hike in the federal minimum wage to $15 per hour.
Wolman understands the arguments but warns against immediately doubling the minimum wage from its current $7.25 per hour, saying that would be a “shock to the economy” while business is still digging out from beneath the pandemic. Employers would likely have to raise the wage rates for employees who are already making $15 per hour, he says. Distributors and suppliers would also have to raise their minimum wages. “That could cause other prices to lift.”
Better, says Wolman, who typically starts teenagers with no experience at $8.59 per hour, would be to phase in an increase in the wage.
“To me, if we’re going to do it, that’s what makes the most sense,” he says. “I think if it’s over time, it allows all these businesses to price it in.”
Them, There’s Bank
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MaryAnn Means-Dufrene and Faith Geiger
Keys to a Better Culture
Nine tips for improving the dynamic among your employees BY
SAMANTHA CALIMBAHIN
The way a company functions is just as important as the product it puts out — that’s the focus of Collective Growth, a coaching and advising group whose business is to help companies organize internal processes, better employee relationships, and elevate overall performance.
The group’s clientele has included names like NBC 5-Telemundo 39 and M2G Ventures, but here, the women who run Collective Growth — partners and self-dubbed “human potentialists” Faith Geiger and MaryAnn Means-Dufrene,
and director of brand experience Betsy Beaman — are giving some free advice on ways companies can improve the dynamic among their employees.
Here are their basic tips on how to improve company culture.
1. Cultivate greater self-awareness. Improving company culture means turning inward and examining how your attitudes, beliefs, behaviors, and biases shape the environment and employee experience.
2. Improve the lives of everyone in your stakeholder ecosystem, and your culture will improve. The world is changing at a rapid pace — make sure your culture is evolving to meet the demands of the future, or even better, set a new standard of a healthy workplace culture.
3. Allow people to bring their whole self to work. The more people can become the highest and best version of themselves personally and professionally, the more your culture and business will improve.
4. Create “care instructions” for your workplace culture, like those found on the tag of a garment, with specific actions, practices, and habits that help maintain a conscious culture.
5. See culture through a new lens. Culture is not the “what”; it is the “how.” Culture is shaped by attitudes, beliefs, normed behaviors, workplace policies and practices, and more. It’s more nuanced than a mission statement — culture is embodied.
6. Improving culture means asking yourself (and then taking thoughtful action), “What is growing inside of my workplace?” Love or fear? Empowerment or control? Mediocrity or greatness?
7. Culture is energy. Think about the energy you and your team bring into the workplace and how it impacts well-being and performance. If we shift the energy, we shift the environment.
8. Be inspired by the fact that improving company culture improves interpersonal relationships, communication, and the systems people work within. It is a globally beneficial effort that reaps long-term rewards.
9. Culture can be a dynamic force that helps humans flourish, or it can destroy. Remind yourself and your team that growth is dynamic, not linear, and includes stumbles and setbacks. The magic is in how we recover and grow from our experience.
Born in Decatur, Texas, Twisted X® started when a group of cowboys and cowgirls knew that hard work, grit, and innovation could lead to something beautiful. A few years later, realizing the need for casual comfort, the original driving moc was created and the western industry was never the same. Today, with its rebellious and relentless drive toward creating uncompromised innovations in comfort and sustainability, Twisted X creates footwear for the casual, work, and outdoor markets, while still honoring its western heritage.
X is honored to be recognized as one of Fort Worth’s Fastest Growing Companies for the second consecutive year.
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Full Circle
Brandy O’Quinn, the longtime Fort Worth development executive, has come on board TechFW at a time when the incubator wants to dramatically boost its role in the city’s entrepreneurial ecosphere.
BY SCOTT NISHIMURA
It’s “full circle” for Brandy O’Quinn, the new assistant director at TechFW, a longtime development executive whom the Fort Worth incubator and accelerator hired this winter to help plot out an aggressive path and raise money for it.
O’Quinn most recently directed the fundraising for The Dash, Trinity Metro’s flashy red electric circulator buses that connect downtown to the Cultural District and Dickies Arena along the West 7th corridor. She was senior manager for public affairs for Blue Zones Project Fort Worth during its successful effort to win healthy living certification for the city. O’Quinn was also president of the Camp Bowie District economic development organization.
And years earlier, when she worked as director of local business development for the Fort Worth Chamber of Commerce years earlier, O’Quinn played a small role in the creation of Bio Med Tech, which became the Fort Worth Business Assistance Center.
“Twenty-two years later, I get to come full circle and play a small part in this,” she says.
In its strategy to fully develop tools that encourage entrepreneurs to start businesses in the city and remain here, Fort Worth wants to broaden TechFW’s influence. It’s hatched biotechs like Encore Vision (sold in late 2016 for $465 million) and Eosera, an ear care products company that has quickly achieved national distribution. But at the same time, TechFW has kept a low profile, and fundraising hasn’t been strong. The organization had a $600,000 budget in 2020, not including the value of TechFW’s use of city facilities for its offices.
TechFW’s goals for the new year include:
• Increasing the number of startups it sup-
ports at any given time to 40, from 30 today. TechFW will run two cohorts this year of eight startups apiece through its first ThinkLab accelerator program in Dallas; some number of ThinkLab firms typically emerge from ThinkLab and move to TechFW’s longer-term programs each year.
• Grow Cowtown Angels membership to 70 members from the current 52 and raise the number of women in the membership to 20%25% from the current 11.
• Grow private sponsorship. The eventual goal is 11%-14% of revenue from 7%.
• Consider rebranding, to acknowledge partnerships with the University of Texas at Arlington, University of North Texas Health Science Center, and the new one in Dallas.
“Entrepreneurs may launch their company and their technology in Fort Worth, and then they leave,” says O’Quinn, who describes her duties as building and fostering TechFW’s existing relationships, forging new ones, and helping the organization and city “create a climate of innovation.”
Since TechFW launched the Cowtown Angels in 2012, members have individually invested less than $25 million in 46 companies. The angels, whose members make independent decisions and don’t invest together as a group, have had two successful exits — Encore Vision, the first.
“It’s really a great opportunity for someone that has disposable income that would like to invest and work with an emerging founder,” O’Quinn says.
She’ll also play a role in talks about rebranding. TechFW wants to explore a name that recognizes its geographic range. “This is where our headquarters is,” O’Quinn says. “The city of Fort Worth is our birth parent, but we’re grown up now.”
Executive Life & Style
Distinctive Style / Off the Clock / Wine and Dine / Health and Fitness / Tech
When things work out. Greg Goss talks about his entrepreneurial journey to opening Goss Fitness on page 24.
What’s in a Name Change?
Carly Burson talks about why Tribe Alive became LAUDE the Label — and the massive undertaking that is rebranding.
BY SAMANTHA CALIMBAHIN
Rebranding involves more than just switching a name and swapping a logo. Take it from Carly Burson, founder and CEO of the Fort Worth-based fashion brand once called Tribe Alive, now called LAUDE the Label — a rebrand spurred by the killing of George Floyd and the conversations about racial injustice that followed.
Per Burson, the word “tribe” has negative connotations that could be deemed disrespectful toward Native Americans, and for a brand that puts particular emphasis on ethical manufacturing and improving the lives of women artisans in developing countries, a name change was in order. During a company brainstorm, creative director Katie Sansom suggested the name LAUDE (derived
from the Latin word laudere, meaning “to honor”), and it stuck. Burson took some time to walk us through LAUDE the Label’s rebranding process and delve deeper into the reasons behind the name change.
Inc.: Take us back to the day your team sat down to discuss your previous name. What issues came up during the conversation that ultimately led to the decision to drop “Tribe Alive”?
CB: The decision to rebrand and change our name has been an internal conversation that our team has grappled with for almost two years now. I wouldn’t say that I could trace it back to a single moment. It took a lot of reflection, thoughtfulness, and contemplation to arrive at a final decision. The motivation to change the name was present for a couple years, but as a small business, it took us time to take the leap based on how risky it was for us economically. We had planned to announce our new name in early 2020, but COVID-19 changed everything for us, and we were forced to adapt to a very different business reality that left little room for future planning. It was still very much a part of our long-term goals, but definitely an initiative we had to put on hold for many months. If I had to pinpoint a moment that propelled us forward, I would say it was in the wake of the unjust and horrific killing of George Floyd in Minneapolis. At the time, our team watched as many major companies spoke out in support of communities of color and racial justice. We recognized it as a start but knew what was needed at that moment was action and decided that, despite the risk and the difficult timing, it was time to make an immediate change. For us, following through on what was a long reckoning with how the use of the word “tribe” has contributed to cultural stereotypes was just the beginning of our brand commitment to support anti-racism.
Inc.: Had you caught flack for the use of the word “tribe” in the past?
CB: We definitely received thoughtful feedback over the years that helped educate us on how the use of the word amounts to cultural appropriation and is insensitive to the centuries of injustices suffered by Indigenous people. Through feedback and “callouts,” we came to learn that the word “tribe” is a colonial construct that was used to marginalize Native Americans, and its continued use by non-Indigenous people fails to accurately recognize their history and unique status as Tribal Nations. As a brand, those moments of exposure were difficult to swallow, especially since we work so hard as a brand to support communities of color and employ countless Indigenous women worldwide. But looking back now, I’m thankful for the accountability and that I was forced to be vulnerable so that I could gain the courage to lead my company through such an important and difficult transition.
Inc.: Changing your name was certainly not as simple as just switching a name and logo. What all went into the rebranding process?
CB: It was an immense amount of work and truly took more energy than I ever imagined. In rebranding, you follow the same steps and address the same brand design components when repositioning a brand as you do when first designing the brand. But brand reposi-
tioning is more difficult than initially positioning a brand because we had to help the customer “unlearn” the current brand positioning, which is really difficult.
A rebrand strategy is all about marketing, and if the marketing plan isn’t a thoughtful and full-funnel approach, we would never be able to achieve the business result we needed to succeed. For us, it was a step-by-step process that involved a great deal of time and attention so that our efforts translated into a positive ROI. We followed the below steps in building our approach:
1. We set our rebranding goals, intentions, and objectives. It wasn’t enough for us to just say we need a new name — we needed to establish a compelling “why?” and take that forward throughout the process.
2. We did our research to understand our existing clients and potential new clients.
3. We spent a lot of time defining our audience in order to target the groups of people we could have the biggest impact on through the rebrand.
4. We developed a holistic and full-funnel creative approach. Rebranding for us wasn’t just about a new name and a new logo. It encompassed everything from visual to nonvisual elements. We took the opportunity to shift the creative brand vision of the company to truly reflect an authentic transition.
5. We defined our messaging platforms through taglines, sound bites, and brand copy to ensure consistency across the business when explaining the brand and what matters to us.
6. We created vision boards and style guides to keep the new branding consistent and cohesive across all teams.
7. We spent months planning and organizing the launch to ensure a successful and seamless rollout across multiple paid and organic marketing channels.
8. We pitched and landed multiple co-branded partnerships with well-known brands in the industry in order to support getting our new name out to the masses (we have an exciting collaboration announcement coming in April). Collaboration is key in the process, and we’re grateful to work with so many companies committed to support us through this process.
Inc.: How costly is the rebranding process?
CB: Incredibly costly. It takes a lot of capital and investment to do it right, but we’re a pretty scrappy and resourceful team and did most of it in-house to save where we could. It was an investment, but one I know we’ll see a return on.
Inc.: Are there any concerns the brand may lose traction with a new name?
CB: Small-business owners are never without fear, especially in current times, but I’ve worked really hard to let go of the “what ifs” and not allow them to impact the way I lead my business or my team. Our new name was established with the purest of intentions. As a company, we chose social justice and respect for all humans over profit. Doing the right thing is how I’ve always run my business, and it hasn’t failed me yet, so I’m holding on to that.
The ‘Airbnb’ of Boats
An online boat rental marketplace sees exponential growth as COVID-era travelers seek socially distanced experiences.
BY SAMANTHA CALIMBAHIN
Vacations have slowed — but not stopped — in the COVID19 era. Travelers are finding ways to social distance and still have a good time, opting for more private getaways, whether it be a cabin in the middle of the woods or a trip via RV.
There’s another option for anyone looking for a more nautical vacation experience — boat rentals. GetMyBoat, the self-dubbed “Airbnb of boats,” is an online market-
place for water experiences, offering everything from luxury yachts to standup paddleboards that users can book via the GetMyBoat app or website, getmyboat.com.
The company services nearly 200 countries with over 130,000 options for water recreation (not to mention a significant presence in the Fort Worth-Dallas area with rentals available in places like Eagle Mountain Lake, Joe Pool Lake, and Lake Grapevine). In 2020, GetMyBoat experi-
enced a “standout year” with business growing 3,900% from April through July, says marketing manager Val Streif.
“Last year, because people had this extra discretionary income from not traveling and also were looking for outdoor things to do that can be done safely … we had a really insane year in 2020,” she says.
GetMyBoat is the brainchild of serial entrepreneurs and co-founders Sascha Mornell and Rafael Collado. So the story goes, they were hanging out on the water one day when they noticed several boats sitting unused in dock slips at marinas. That scene coupled by the growth of the sharing economy eventually inspired the duo to launch GetMyBoat in San Francisco in 2013.
The app functions similarly to Airbnb. Boat owners can list their boats on the site at no cost (GetMyBoat takes an 8.5% fee when a booking is made) and set their own prices and availability. Anyone looking for a boat can then book through the app and later leave a review after their experience.
“Our model is a really great option for people when an expensive boat club membership doesn’t make sense,” Streif says. “There are other ways to get access to boats, but a lot of times they come with a lot of extra cost, versus, this is really great because it’s flexible. [For people who] just want a boat for this one Saturday or for Fourth of July weekend, I think for a lot of people, that’s going to be a lot more realistic.”
Streif says that for anyone who’d like a boat in the summer, “it does not hurt to look now” as the company anticipates a busy 2021.
She also hopes boaters will continue to be cognizant of the pandemic as they make travel plans.
“We still want to encourage social distancing, boating with small groups, staying away from big boat parties, or anything that could be a more dangerous event in terms of the pandemic,” she says.
relationship banking where
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While I have known the entire CapTex Bank team for many years from various stints with other banks, they have recently helped me with a difficult loan in an out-of-state market. Numerous other banks turned me down, but the CapTex Bank team looked to my past performance and helped me structure a loan that worked. I appreciate their commitment to relationship banking, and I am proud to be a shareholder, depositor, and borrower with CapTex Bank. I would not hesitate in recommending CapTex Bank to my colleagues, friends, and family. — Jack Huff, Principal, Transwestern | Fort Worth, Texas
We know entrepreneurs because as a locally owned Fort Worth bank we are entrepreneurs, which makes a difference in the way we look at opportunities and solutions. When you bank with CapTex your relationship matters.
Seeing Ghosts
Restaurateurs chat about the pros and cons of the industry’s latest trend — the ghost kitchen. BY SAMANTHA CALIMBAHIN
The concept of the “ghost kitchen” — that is, a restaurant that relies solely on delivery with no option for sit-down dining — wasn’t born out of the COVID-19 pandemic. Ghost kitchens had very much existed before 2020, staying relatively true to their name as the trend began to catch on throughout the country.
Then the pandemic hit, and the growth of the ghost kitchen would only accelerate.
In Fort Worth, locals saw ghost kitchens emerge, thanks to chefs like Jesus Garcia and Lanny Lancarte. Garcia launched a ramen concept, Kintaro, off Camp Bowie Boulevard, while Lan-
carte launched Eat Fajitas out of his existing West Seventh Street restaurant, Righteous Foods. Meanwhile, the company that manages City Works Eatery and Pour House, Bottleneck Management, put its own spin on the concept with Secret Sauce Barbecue, opening the Fort Worth location in January within City Works’ brick-and-mortar at The Shops at Clearfork.
While all three ghost kitchens have benefited from the uptick in to-go orders brought on by COVID-19, all three don’t see the concept going away when the pandemic is over. In fact, there are many pros to remaining delivery only.
The first is obvious — less overhead.
“Restaurants [are always about] location, location, location,” Garcia says. “Well, with a ghost kitchen, it doesn’t have to be in the nicest shopping center or anything like that. It just needs to be accessible to your customer base.”
According to Lancarte, another benefit of running a ghost kitchen is having better control of the restaurant labor model. He says the traditional restaurant model has “always worked on really thin margins because of a lot of the labor and overhead. It’s been a hard system to disrupt.”
“Restaurant models got so exposed when the pandemic started,” Lancarte says. “When a customer comes in and spends $20 and decides to give $5 to one single employee of an entire operation, 8.25% of that goes to the state, and that only leaves a
Secret Sauce Barbecue
small portion for us to pay all the rest of the employees and all of our overhead expenses.”
The cons of running a ghost kitchen? Well, there’s dealing with IT, for one, says Bottleneck Managements CMO Angela Zoiss — making sure delivery apps and procedures for taking orders are working properly.
But perhaps the bigger challenge is marketing, especially when there’s no flashy physical location potential diners can eye from the street — or, if you’re Secret Sauce Barbecue inside City Works, the kitchen’s signage reads a completely different name.
“There is a challenge around communicating that the brand does live in our current restaurant’s location,” Zoiss says. “That just means some extra communication to delivery drivers, to the guests.”
That’s when social media comes into play. For Garcia and Lancarte, both chefs had existing restaurants with established fan bases they could reach; Secret Sauce had the advantage of leveraging the following of City Works.
Spending a little money for better visibility on delivery platforms helps, too, Zoiss says, along with reaching out to local media for news coverage.
As far as what becomes of each restaurant in the future — well, Garcia, being himself a fan of in-person dining, has temporarily closed his ghost kitchen to focus on the brick-and-mortar version of Kintaro, which opened in February at Crockett Row at West 7th (coincidentally, in the former location of Oni Ramen, which Garcia used to own).
Meanwhile, Lancarte intends to build on the concept, with plans to move Eat Fajitas out of Righteous Foods and add more ghost-kitchen brands in the near future (though he keeps mum on specifics).
Zoiss says Secret Sauce is looking toward expansion. Fort Worth was the sixth location to open in the U.S. (others are located in places like Gaithersburg, Maryland, and Pittsburgh, Pennsylvania). Though it’s still early to determine each location’s success, she says they’re already showing signs that ghost kitchens are here to stay.
“In the early days, we’ve seen that Secret Sauce is accounting for about 25% of our off-premise business right now across
the board. It’s a good chunk of all the off-premise business we’re doing, attributed to that brand,” Zoiss says. “It’s interesting. We looked at off-premise sales right now overall just year to date, and those are accounting for 16% of our overall sales. Just to compare that, last year at this time, it was about 3%. Granted, we had more locations open … last year, we weren’t making as big a push on delivery, so there’s quite a few things that are different obviously, but we’re seeing really great signs this is viable.”
Lancarte agrees, saying there will always be a need for food on the go with the fast-paced lifestyles of today’s society.
And good food — not necessarily fast food.
“Fast food is not an option in our house,” Lancarte says. “A cuisine with something that’s thoughtful and thoughtfully sourced needs to be available ... something that’s convenient and experience driven.”
Chef’s Recs
Secret Sauce
Barbecue
2Meat2Sides (namely, 1/4 rack of smoked ribs and barbecue pulled pork, sides of creamed corn and maple bacon baked beans)
Photo courtesy of Bottleneck Management
Kintaro
Karashi Tonkotsu Ramen (spicy, creamy pork broth with thin, firm noodles topped with tender pork belly, soy-marinated egg, pickled mustard greens, and bean sprouts)
Photo courtesy of Kintaro
Eat Fajitas
Fajitas Combination (beef sirloin and chicken fajitas, rice, beans, and flour tortillas)
Photo courtesy of Eat Fajitas
Secret Sauce Barbecue
Small but Mighty
Greg Goss takes pride in his 6,000-square-foot boutique gym, Goss Fitness, and despite its success, he has no plans for expansion. Here’s why.
BY SAMANTHA
CALIMBAHIN | PHOTOGRAPHY BY OLAF GROWALD
Fitness had always been a part of Greg Goss’ life, especially in his younger days when he played football and ran track. But it was a lull in his routine that eventually set him on the path to opening his own gym.
Long before opening Goss Fitness — a boutique gym located at Mont-Del Plaza just off Texas State Highway 183 and Southwest Boulevard — Goss worked for Union Pacific Railroad. For a minute, he says he “got away from working out” until one day, he decided to check out a gym down the street. He met the gym’s owner, who was into bodybuilding, and was soon inspired to get into bodybuilding himself.
Bodybuilding would do more than just put Goss back on track with a normal workout routine — it would kickstart a newfound passion for fitness that would soon prompt him to seek certification as a personal trainer.
Balancing a passion with a day job, Goss would find himself juggling both — Union Pacific by day and personal training by night. He says he worked for a couple gyms like Fit for Life, and “it was fine at first, but as I started getting more clients, it started becoming an issue, so I had to decide on which one I really wanted to do.”
So, he decided to take the leap and dive into fitness full time.
“It was so funny because [Union Pacific] asked me, ‘Hey, do you want us to keep your name on the list just in case it doesn’t work out for you?’ I said, ‘No, take my name off the list.’ I don’t want any
THE BIGGEST WORKOUT MISTAKES, ACCORDING TO GREG GOSS
• Trying to do too much. “Overtraining, that’s a big common mistake. A lot of people think they’ve got to come into the gym and work two to three hours — that’s not true. You can get a 30- to 45-minute workout. I train people, and I just train them for 30 minutes.”
• Thinking that working out will help you lose weight. “It’s more about diet and daily movement.”
• Lifting above your limit. “Lifting a lot of weight usually means your form is going to be off, so you want to lift the correct and proper weight. A lot of times, too heavy is not good for you.”
• Forgetting leg day. “Most people want to work their upper body; they don’t want to work their lower body.”
• But the biggest common mistake in working out? “You know what it is? Not working out.”
reason to not put 100% into this,” Goss says.
After working for Fit for Life for 10 years, Goss decided it was time to branch out on his own. With the help — and financial investment — of faithful clientele, he opened Goss Fitness in 2016. The 6,000-square-foot gym carries a gamut of equipment and also hosts classes, along with personal training sessions. The gym also recently added 900 square feet for functional training, complete with artificial turf.
Goss refers to his business as a “boutique gym” and takes particular pride in its small size. “When you go to a bigger gym, they’re nice to you when they’re trying to get you a membership ... Once they get your membership, they don’t speak to you anymore. They’ve got your money, and they’re done. And here’s the deal — your money is important because it keeps the doors open, but
that’s not the most important thing to me or my trainers. It’s your health and your well-being.”
That philosophy — coupled with faith in God, Goss says — became part of the reason why Goss Fitness stayed afloat through the COVID-19 pandemic. When gyms were forced to temporarily shut down due to state mandates, Goss says he did lose a few customers, particularly elderly clients. But others came through to help the gym — just because they wanted to.
“They just paid,” Goss says. “They were like, OK, we’re not coming, but we’re going to come up and pay, so when this craziness is over with, we have a place to go because we don’t want to go to 24 Hour Fitness; we don’t want to go to this gym; we want to go to Goss Fitness. So that’s what they did.”
Goss says the gym has done well at Mont-Del Plaza, building a loyal clientele and expanding its offerings over the past five years.
But don’t ask if another Goss Fitness is in the works. Goss says the answer is no.
“[In a large gym], there’s a lot of wasted space. We want to be just a bit more personal — not too small like a personal trainer gym and not big like a 24 Hour Fitness,” he says. “We wanted something in between. We love that family atmosphere … Everyone always asks me, ‘Hey, man, you want to try to open up another gym and franchise?’ I don’t think I want to do that because I can’t be at another gym. I just want to make Goss Fitness better.”
On-Air Improvement
The
producer behind Innovate Fort Worth shares his top tips and gear for a better podcast.
BY SAMANTHA CALIMBAHIN
f you’ve ever listened to UNT Health Science Center’s business podcast, Innovate Fort Worth, you’ve not only heard insightful conversations with local entrepreneurs and innovators; you’ve also heard the work of Rob Upchurch, a podcast producer, who — dare we say it ourselves — does a pretty stellar job making the show sound clear, effective, and professional. Thankfully, he’s not keeping that knowledge to himself. Here, Upchurch shares his top tips and gear for a better podcast.
TIPS
1. Setting realistic expectations is the most important thing for starting a podcast. Consistency is key in the world of podcasting — shows should strive to have a consistent length and distribution schedule. Don't start out trying to make two-hour long podcast episodes if you can only reasonably commit to 30 minutes in the future.
2. Your body is like an instrument — treat it well. Drink water, sit up, and breathe. It will make a world of difference in your voice. Similarly, don't start “cold.” If you are recording first thing in the morning, warm up by singing in the shower or in the car. Get your guest(s) talking before the recording starts.
3. Build a community through social media Your fans are the biggest asset in getting your show out there. Do acknowledge this community, but remember, podcast listening is often a solitary act. Speak directly to the listener with “you” rather than “you guys,” “folks,” etc. Make calls-to-action to follow on social media at the beginning or end of the show.
4. Editing in a digital audio workstation such as Audition or Audacity will work wonders for putting a polish on your podcast. You can remove “ums,” “ahs,” blank space, etc., which will make your and/or your guests or cohosts sound more professional. An audio-only product makes this a lot easier, as video will show jump cuts.
5. Emulate then innovate. Don't reinvent the wheel. Think about what you enjoy about podcasts you like. Make the show you would want to listen to.
Blue Snowball
Recommended Gear
1. Blue Snowball. This is what we have been using since taking Innovate Fort Worth remote. It's a simple plug-andplay USB microphone that should work on any computer.
2. Blue Yeti. Similar to the Snowball but with a little more functionality. This could work for a bare bones production in that it has an “interview” setting, which will record from two different directions. Just set it in the middle of a table and talk to the guest.
3. Monoprice Isolation Shield. Isolation shields like this are the simplest option for soundproofing — no dedicated studio required. Heavy blankets also work well. Don't record near windows or around hard surfaces.
4. ZOOM H6. This is where you get into a little bit more technical work, though it can render a better product. XLR inputs are generally higher quality than USB mics, and this recording device allows you to control the levels of each microphone independently. (Honorable mentions include the ZOOM PodTrak P4 and the ZOOM H4n. There are many other recording interfaces available, but my experience is personally with ZOOM products.)
5. The MXL 990 is the mic I personally use in conjunction with the ZOOM H6. It's at a good intersection of functionality and affordability. (The RODE Procaster and AudioTechnica AT2020 are also well-regarded XLR microphones.)
6. Lavalier mics such as the Sony ECM-44 work great for some scenarios, particularly because the performers do not have to worry about moving or turning away from the microphone.
7. High-quality headphones like the Sony MDR7506 are great for monitoring your performance and for editing. (Editing note: It’s often recommended to listen to your audio through multiple speakers. Edit with headphones, then listen back on your computer speakers. Some people even do “the car test” where they listen to their show in their car.)
Other Necessities
1. Zencastr. This is the platform we have used to great success recording Innovate Fort Worth remotely. In a nutshell, it records each person's audio directly to their computer, then uploads it to the platform after the fact, meaning there is no VOIP compression like you would get with Skype or Zoom. Another option is Squadcast.
2. Podcast file hosting. This is necessary for uploading and distributing your podcasts. Libsyn is arguably the gold standard, though others such as Anchor and Transistor have their benefits. There are more companies doing this than I can list here, all offering different price points and functionality.
3. Music licensing. It is very important to license your music to avoid lawsuits and properly compensate the artist. AudioJungle is an a la carte music licensing platform. There are many others out there. I use Soundstripe, which is subscription-based but likely isn't necessary for someone producing a single podcast. Another option would be hiring someone to compose your music through a service like UpWork or Fiverr.
MXL 990
Sony MDR7506
Blue Yeti
Monoprice Isolation Shield
Sony ECM-44
ZOOM H6
COMPANIES 2021 2021
Our third annual class of fastest-growing companies in the area cuts a swath across the region’s industries, from construction to finance, marketing, energy, telecom, IT, health, and accounting.
BY SCOTT NISHIMURA / PHOTOGRAPHY
BY OLAF GROWALD
Fort Worth Inc.’s Fastest-Growing Companies 2021 represents the third year the magazine has examined the firms and industries that are posting the region’s biggest growth. Companies were eligible to compete if they’re for-profit, generated at least $50,000 in revenue for 2016 and at least $1.5 million in revenue for 2019, and are based in
Greater Fort Worth, including several surrounding counties. Companies were ranked based on threeyear revenue growth through 2019 and didn’t take 2020 into account. Of course, we asked the CEOs of our 30 Fastest-Growing Companies to discuss 2020. Here, in these pages, is a look at what they’ve done and how they did.
1: WinterGreen Synthetic Grass
2019 revenue: $2.3 million
2016 revenue: $170,969 % change: 1,250.2
Construction materials
WinterGreen Synthetic Grass, which sells and installs synthetic turf for residential and commercial uses, continues its big run.
Winter Moore and his wife, Ashley, founded WinterGreen Synthetic Grass in September 2014 in Fort Worth. Today, it sells to commercial contractors, landscapers, homebuilders, and retail customers, offering more than 100 kinds of artificial grass from various manufacturers and selling and installing for $8-$10 per square foot. Applications range from putting greens to commercial landscape, recreation fields, playgrounds, dog runs, pool decks, rooftops, and play areas. Winter Moore is the owner/operator, and Ashley Moore, the president and majority owner, making the firm woman-owned.
Sales rose 1,250.1% to $2.3 million from $170,969 in the three-year period through 2019, the benchmark for our 2021 Fastest-Growing Companies in Fort Worth.
And although 2020 wasn’t counted for our 2021 ranking, Winter Moore says 2020 was a strong year, and sales grew to about $3.6 million, thanks to COVID-19 and consumers deciding to spruce up their spaces. “We picked up,” he says. “Everyone was at home and wanted to do stuff in their yard.”
Sod and irrigation cost onethird of the expense of synthetics on new installations, Moore says. “Depending on your square footage and how much you use it, how much you spend on a yard guy, the return might be two years; it might be five years.”
The company has 25-30 employees and doesn’t sub its work out. For 2021, Moore says his goal is to grow to about $4 million in sales. Residential sales represent about 60% of sales, but the commercial business has steadily grown as the company has added big-ticket business.
The company is also working on expanding its maintenance division. “It’s a very maintenance-friendly product, and you pay for that, but there is maintenance you need to do at least annually to maintain the overall look,” Moore says.
Brothers Dr. Thomas Black and Tim Black co-founded Napali Capital in 2016, partnering with physicians on real estate investments. Thomas Black, a physician, began buying homes several years earlier after coming out of training and entering practice as an emergency doctor in East Texas.
“Things hit me pretty quickly as to the life of what I would be doing in health care and the hours I was pulling and the time away from family,” Black says. “I really discovered a passion for [real estate].”
Physicians started asking him for partnership opportunities, looking for places to park money. “There were no equity opportunities in medicine.” Black moved to Dallas and became medical director at a hospital in Mansfield and president of a medical group. Tim Black, an executive with Great Wolf resorts, came aboard to co-found Napali.
Napali’s raised $65 million in equity and today owns about $160 million of real estate,
the Blacks say. They invest in multifamily, industrial, and hotel properties, but no medical. The company posted $1.59 million in 2019 revenue, up 1,005.8% over three years. The firm, which holds properties in several states through single-entity limited liability companies, has 700 active investors in 38 states, the Blacks say.
Formerly based in Southlake, the company and its six employees are preparing to move to a new headquarters in downtown Roanoke. Last year was one of “continued growth,” Thomas Black says.
COVID-19 disrupted apartments, but the “multifamily units have stabilized,” Tim Black says. “We’ve had some…workouts with tenants [although] not too many. The road we took was, if you’re really impacted, how can we work with you.”
3: Koddi
2019 revenue: $40.46 million 2016 revenue: $3.9 million % change: 937.52
Digital marketing
Koddi has been a denizen of Fort Worth Inc.’s FastestGrowing Companies. The Fort Worth firm, whose advertising technology uses data gleaned from consumers’ web searches for hotels to match them to the right properties worldwide, has been on a run since it was founded by George Popstefanov and Nicholas Ward in 2013.
Koddi powered $20 billion in transactions in 2019, compared to the $1 trillion in total global digital travel transactions annually. The company has six offices in Fort Worth; Austin; New York; Ann Arbor, Michigan; San Francisco; and Dusseldorf, offering employees opportunity to relocate or to do stints.
4: MineralWare
% change: 713.4
Mineral management software
MineralWare, an asset management platform for owners and managers of mineral interests, continues to pile on the growth. The firm, largest tenant in the Fort Worth Club Tower, ladled out generous bonuses to employees when it cracked its first month of $250,000 in recurring revenue in 2019.
In 2019, co-founder Ryan Vinson returned to retrieve one of his first ideas when he graduated from Texas Tech University in 2007 — an online marketplace for the buying, selling, and leasing of minerals. With partner Larry Brogdon, Vinson launched Energy Domain out of the same offices as MineralWare, imagining a tool to trade minerals that functions as simply as Zillow. In 2020, Vinson launched Energy Freelance, a site to connect oil and gas firms with freelancers.
5: Nextlink Internet
2019 sales: $49.4 million 2016 sales: $10.05 million % change: 391.8
Telecommunications
Nextlink, an internet provider to rural communities founded in 2012, expanded outside of North and Central Texas starting in 2017 when it pushed into Oklahoma. The company has since expanded into Kansas, Nebraska, Iowa, Illinois, and South Dakota.
The expansion has been driven in part by the Hudson Oaks’ firm’s participation in the Federal Communications Commission’s rural broadband funding program, Connect America 2
Rishi Khanna ENO8 and ISHIR
Fund. In 2018, the company was awarded $281 million over 10 years to facilitate rural broadband expansion.
The company continued its push in 2020, growing about 45%, Bill Baker, the CEO, says. Earlier this year, Nextlink announced it purchased three internet service providers in Nebraska and Iowa.
6: Thrive Internet Marketing Agency
2019 sales: $10.1 million
2016 sales: $2.2 million % change: 365.12
Digital marketing
Thrive sells search engine optimization, pay per click, social media, and a service called RIZE, launched in 2018, that lets businesses manage reviews and online reputation. In 2019, it began offering SEO for Amazon products. The company in early 2020 moved its headquarters from an office building in south Arlington to a business park nearby. Thrive has been increasing its business with franchises and multilocation businesses.
7: ENO8
2019 sales: $2.04 million
2016 sales: $504,620 % change: 303.68
Information technology
ENO8 is a sister to ISHIR, another company among our 2021 Fastest-Growing Companies. If ISHIR is a traditional information technology concern, ENO8 helps clients look past their immediate IT needs, examine the future, and innovate, says Rishi Khanna, CEO of both companies. “What Uber did to the taxi industry and what Airbnb did to the hotel industry is what we’re trying to do,” he says. The company, founded in
2016, grew 303.68% for the three years through 2019. In 2020, despite a drop because of COVID-19, sales grew again, Khanna says. ENO8 runs clients through innovation “labs” to help them come up with ideas.
The year’s second and third quarters were slow, but “it was a great year for ENO8 because a lot more discussions happened. This year, we are planning a target of doubling the number of workshops. That will unlock further engagements for us.”
8: TriQuest Technologies
2019 sales: $2.53 million
2016 sales: $964,637
% change: 162.1
Information technology
Gary Tonniges, Jr. — a CPA and technology geek — started TriQuest Technologies in 1997, looking to meld the background and integrity of a certified public accountant with an IT firm. As Tonniges saw it, given the arcane nature of information technology, an IT company should approach problem-solving through the same fiduciary lens as a CPA.
The company has since outgrown three offices, as sales grew 162.1% over the three years through 2019. Last year, COVID knocked business down for a period, but it began to come back later in the year.
9: Construction Cost Management
2019 sales: $1.97 million
2016 sales: $844,475
% change: 133.6
Construction cost estimation services
Construction Cost Management does independent cost estimations for architects and engineers that are working major projects in the justice, government,
health care, science and technology, education, commercial/industrial, aviation, historic restoration, water, railroad, utilities and civil infrastructure, and national parks sectors. Most of those projects require a third-party estimator, where Construction Cost Management and CEO Katy Abraham’s crew step in.
The Fort Worth firm saw its sales rise 133.6% for the three years through 2019. The company’s lengthy pipeline has allowed it long visibility on upcoming work, and CCM has been able to staff up. “I attribute a lot of our growth to building our staff,” Abraham says. “As we staff up with experienced associates, we’re able to service our clients better. We’re able to take on larger projects.”
Last year was “really weird” for her industry, with COVID and
government agencies closed, Abraham says. “We have contracts with our clients that we’ve been waiting for more than a year to hear back on,” which hopefully bodes well for 2021. Yet, even with business down for the year, Abraham kept her employees, gave generous bonuses, and continued her training and software education. “2020 was the year I was going to introduce health benefits. We went through with it. We were able to make it a really nice year.”
10: Muckleroy & Falls
2019 sales: $94.7 million
2016 sales: $47.5 million
% change: 99.3
General contractor
Muckleroy & Falls begins the new year with a new executive leadership team:
Thomas Black Napali Capital
Zach Muckleroy, Ben Austin, and Taylor Hale. The three came aboard the Fort Worth firm several years ago to position it for the future; founders Harold Muckleroy (Zach Muckleroy’s father) and Max Falls announced in December they were retiring.
The company’s sales grew 99.3% through 2019. Muckleroy & Falls has historically been strong in corporate office, retail, bank, medical, and light industrial construction projects through its four decades. The company in recent years has become active in K-12 school construction, municipal work, hospitality, auto dealerships, and churches. It’s also increasingly looked for business in Dallas County.
11:
OP2 Labs
2019 sales: $2.72 million
2016 sales: $1.44 million
% change: 89
Health/fitness
OP2 Labs produces medical-
2004, has continued its growth surge since closing an investment deal in 2018 with affiliates of LightBay Capital. Then at 30 locations in Texas, Oklahoma, Georgia, and Tennessee, the company today has 43 stores in eight states: Arizona, Georgia, Maryland, North Carolina, Oklahoma, Tennessee, Texas, and Virginia.
At the beginning of 2020, Boardroom had 352 employees, Josh Goodell, the CEO, says. “While many employees had to be furloughed during the temporary closures due to COVID, Boardroom Salon was able to bring back all team members that wanted to return.”
13: Stanton & Co.
2019 sales: $2.36 million
2016 sales: $1.28 million
% change: 83.5
Flooring and renovation
grade products made of collagen — proteins that are the major structural component in much of the body — and used for rapid healing from wounds and peak physical performance. The Grapevine company’s brands include Frog Fuel and ProT Gold. Sales for the three-year period through 2019 rose 89%.
The company, founded by CEO Alexander Kunz in 2015, has grown an average 80% annually, Kunz says. He attributes the growth to a nimble staff of six and network of subcontractors and a heavy reliance on technology, data, and efficient processes.
12: Boardroom Salon for Men
2019 sales: $17.7 million
2016 sales: $9.6 million
% change: 84.4
Men’s salons
Boardroom Salon for Men, founded in Southlake in
Stanton Pearce has been in construction for 24 years, coming into the industry out of community college. He founded several companies, the latest Stanton & Co. in 2013 in Aledo. Pearce started in flooring and moved into other segments, based on his clients’ inquiries. He specializes in flooring and kitchen and bath renovations in homes and businesses. His niche within that niche: jobs where the client is living in the space Pearce and his crews are working on. Almost all of his business comes from repeat clients and referrals.
14: VLK Architects
2019 sales: $55.8 million
2016 sales: $30.97 million
% change: 80.3
Architects
VLK Architects, founded in 1984, is a full-service architecture, planning and
interior design firm, primarily serving the commercial, office, retail, automotive, and education sectors. Headquartered in Fort Worth, the firm has offices in Dallas, Houston, Austin, and El Paso.
Last year, “fortunately, VLK entered 2020 with a full pipeline of work, and we adapted swiftly to offer our clients the same level of service in a virtual format with no disruptions” amid COVID, CEO Sloan Harris says. The firm expected a “reduction of activity” in 2021, but “the new year, so far, promises to be full of new opportunities.”
15: Whitley Penn
2019 sales: $128.5 million
2016 sales: $73.1 million
% change: 75.6
Accounting
Whitley Penn, a full-service public accounting firm founded in 1983, posted 75.6% growth for the three years through 2019. Larry Autrey, the firm’s managing partner, attributes that to organic growth, several acquisitions during that time, expansion into Austin, and the opening of a new Plano office. Since inception, the firm has grown consistently, Autrey says.
As for 2020, “Whitley Penn was not immune to the impact of the challenges of 2020 and the COVID-19 pandemic,” Autrey says. “We ended the year strong and are excited to see what 2021 brings.”
16: ISHIR
2019 sales: $3.07 million
2016 sales: $1.8 million
% change: 71.2
Information technology
ISHIR kept up its strong growth, signing its largest customers, in the defense
Alexander Kunz OP2 Labs
Igor Motkin
space. “We were able to help showcase our services by helping them digitally transform their business, from where they’re at to taking them into the cloud, levering cloud infrastructure,” and saving millions in the process, Rishi Khanna, ISHIR’s CEO says. “They’ve propelled us.” ISHIR completed that job early, just before the pandemic hit, Khanna says.
Last year, the firm saw its business decline at the beginning of the pandemic, then pick up. Its customer base, while diverse, has “a lot of industries that were affected by the pandemic.” One client in the hospitality industry went out of business. Despite those issues, “we’ve come back strong in the third and fourth quarter,” he says. “2021 is going to be a year of growth.”
17: Iconic IT
2019 sales: $25.5 million
2016 sales: $15.4 million
% change: 65.8
Information technology
Iconic IT provides computer support services to small and medium-sized businesses, including infrastructure management, help desk, strategic guidance, cybersecurity, and cloud-based solutions. “We are our client’s IT department,” Mike Fowler, the CEO, says.
The company is the result of four firms that merged in 2019, including one in Bedford, the merged company’s headquarters today. Besides the metroplex, Iconic IT has offices in Buffalo, New York; Denver; Rochester, New York; Wichita, Kansas; Bonita Springs in Southwest Florida; and Tyler in East Texas. The company has fueled its growth organically and by acquiring other managed services companies.
18: Venus Construction Co.
2019 sales: $61.1 million
2016 sales: $36.9 million
% change: 65.6
Utility contractor
Venus Construction was founded in 1967 by Samuel and Geraldine McAda. Today, it’s run by their three grandsons — Josh, Sam, and Jake. Recession of the early 1980s forced the company to find new work in utility construction, which remains its focus today. The Mansfield company has a diverse customer base in commercial, residential, municipal, and Texas Department of Transportation projects.
19: Weby Corp.
2019 sales: $45.7 million
2016 sales: $28.15 million
% change: 62.3
Retailer
Weby Corp. is an omnichannel retailer with three arms: Amazon retailing as a thirdparty merchant, representing more than 500 brands in hunting, shooting, fishing, outdoors, running, winter sports, and other segments; Run United running products; and GRITR SPORTS firearms and associated products, which the company rebranded last year from the former 1800GunsAndAmmo.
Weby’s main brick-and-mortar location is the GRITR store in North Richland Hills.
Weby’s sales growth for the three years through 2019 was driven by expanding business on Amazon, Walmart and eBay, CEO Mikhail Orlov says.
In 2020, “having suffered a 25% year-over-year decline in revenue going into May of 2020, we were able to rebound and finish the year with a 15% increase over 2019,” Orlov says. “We had no layoffs, and while we did take
on a [federal payroll protection] loan, we are in discussion with our bank about early return of the funds or gradual paydown.”
20: Comprehensive Finance
2019 sales: $4.8 million
2016 sales: $2.97 million % change: 60.6 Payment solutions for health care providers
CFI was founded in 2011 by a metroplex dentist to confront the problems he was having in billing. Michael Brown, hired as CEO in 2015, expanded CFI Compassionate Finance payment plan business to other health care providers, including plastic surgery, ophthalmology, dermatology, and other weight loss and cosmetic specialties.
In 2019, CFI added a white label version of Compassionate Finance and a platform solution for managing accounts receivables called Abella.
In 2020, CFI offered free trials of its Compassionate Finance and Abella product lines and “nearly doubled adoption.” Brown says. The company has grown about 20% annually in recent years and “expects this growth rate to continue for years to come,” Brown says.
21: On Deck Concepts
2019 sales: $44.5 million
2016 sales: $27.8 million
% change: 60.3 Restaurants
On Deck Concepts, which founder and CEO Brent Tipps rebranded this year from
Candice Hammit, Lisa Justiss
DV8 the Salon
BoomerJack’s, has steadily grown since 2002 when Tipps opened the first one in Fort Worth. Today, the company has 15 DFW BoomerJack’s, the Bedford Ice House, and new in 2019, Sidecar Social, a 20,000-square-foot social lounge, in Addison.
On Deck attributed its growth in recent years to positive yearover-year results at existing locations, three new BoomerJack’s in DFW, and the Sidecar.
COVID forced temporary shutdowns and a realignment to take advantage of takeout and curbside. “We’ve had to train people just for curbside,” Tipps says. “We had stores that were doing a couple of hundred dollars a day in takeout. Those stores are doing $2,000 today in takeout.”
22: Pacheco Koch
2019 sales: $11.4 million
2016 sales: $7.14 million
% change: 60.2
Civil engineering
Pacheco Koch, founded in 1990 in Dallas by Mark Pacheco and Jim Koch, has consistently grown by increasing service lines within its core segments of civil engineering, surveying and landscape architecture, Brian O’Neill, principal and managing partner of the Fort Worth office, which opened in 2009, says.
Last year, the company rapidly moved to a virtual environment, and “the company had a strong year,” O’Neill says. At the year’s start, Pacheco Koch had 222 employees statewide and 67
in the Fort Worth office. By Jan. 1 this year, the company had 235 employees statewide and 70 in Fort Worth.
23: Higginbotham
2019 sales: $244.3 million
2016 sales: $155.2 million
% change: 57.4
Insurance and benefits
Higginbotham, a singlesource solution for insurance, financial, and human resources services, was founded in 1948 by Paul C. Higginbotham. It’s consistently grown organically by acquisition and mentorship of new producers.
The Fort Worth firm offices statewide and in California, Colorado, Florida, Georgia, Louisiana, New Mexico, Oklahoma, and Tennessee. By revenue, Higginbotham ranks as the nation’s 21st largest independent insurance brokerage and the largest Texas-based broker. It’s grown about 20% year-over-year for three decades, during which Rusty Reid has been the CEO. During COVID, the firm moved quickly to a remote working environment. “We made no layoffs and did not pursue a PPP loan,” Reid says.
24: Twisted X
2019 sales: $74.06 million
2016 sales: $47.7 million
% change: 55.3
Footwear
Twisted X, a Decatur-based designer and maker of casual footwear, has been on a growth binge since CEO Prasad Reddy, a turnaround man, bought the company out of bankruptcy in 2008. Sales were $8 million the year Reddy came aboard; they reached $74 million in 2019, 55.3% growth over three years. During COVID, sales plunged
immediately but opened up and posted records by the late spring and early summer.
The company maintained its stance of not entering into competition digitally with its 3,000 retailers, instead supporting them with new social assets created by Twisted X’s marketing team. Instead of laying people off, Twisted X added extra staff in customer service. It granted extended payment terms to its retailers and boosted inventory 25%-30% so retailers didn’t have to carry it.
25: DV8 the Salon
2019 sales: $1.78 million
2016 sales: $1.2 million
% change: 48.2 Salon services
DV8 — meaning “deviate from the norm” — will celebrate its 14th birthday in June. The downtown Grapevine hair salon in 2017 expanded its location to occupy a neighboring space, doubling its square footage. It added new team members and added customers from referrals and people looking for a new salon. It also invested heavily in social media and switched to software that helped boost its Google reviews.
During COVID, DV8 was closed for eight weeks during the initial stay-at-home order. “We maximized that time to restructure some outdated systems and adjust hours to be ready to grow when the doors opened,” co-owner Lisa Justiss says. The salon also offered curbside pickup for hair products.
Sales for 2020 were off 30%, she says. The salon had to pare its numbers of hairdressers to seven in June from 19 earlier in the year. But it entered 2021 with 14. “Our business is already showing very steady signs of recovery and growth.”
Kim Dignum Dignum Financial Partners
Deborah Paris StraCon Services Group
26: StraCon Services Group
2019 sales: $19.7 million
2016 sales: $13.7 million
% change: 44.4
Defense and aerospace contractor
Deborah Paris founded StraCon in 2008, and it’s grown to 185 full-time employees today. Today, it manages 21 active armed forces contracts. Initially established with an aviation training focus, StraCon has evolved into consulting with the federal government on identifying ways to make its funding go farther.
During COVID, StraCon shifted to providing about 95% of its service virtually, from 100% on-site. “This make-it-happen attitude with our clients resulted in continued growth for StraCon during 2020 despite potentially serious obstacles,” Paris says. “We began 2020 with 145 personnel and have grown to 185 this past year. We have been extremely fortunate to not have experienced layoffs and, as a result, did not need to pursue a PPP loan.”
27: G.L. Hunt Co.
2019 sales: $10.7 million
2016 sales: $7.45 million
% change: 43.3
Foundation repair and concrete
Founded in Fort Worth by Gary L. Hunt in 1987, G.L. Hunt has built a reputation as a trusted foundation repair company. “We are dedicated to building relationships with the homeowners we serve throughout our communities by making the purchase accessible to anyone with our financing and specials,” Hayden Slack, general manager, says. Slack attributed the compa-
ny’s three-year growth through 2019 to greater emphasis on marketing; investments in technology, customer service, and production support; and continuing to build on existing relationships. “We have made a strong effort to cultivate our reputation and reviews and currently are the market leader for San Antonio and are second in the Dallas-Fort Worth metroplex,” Slack says. Sales rose 15.5% in 2020.
28: Caregiver
2019 sales: $167.1 million
2016 sales: $117.7 million
% change: 41.9
Long-term care services
Caregiver’s roots date to 1978. In 2017, “the company decided that we needed to rapidly accelerate growth and move into additional states,” Mark Lashley, the CEO, says. “Since 2017, we have grown at roughly 35% year over year.” The Fort Worth company developed a strong acquisitions and integrations team in 2017. “Since then, we have completed 17 acquisitions across five states,” Lashley says.
29: Dignum Financial Partners
2019 sales: $2.1 million
2016 sales: $1.5 million
% change: 40 Financial consulting
Kim Dignum has been in business as a financial planner for 36 years. Three years ago, she hired a new adviser whom she’d been in discussions with for eight years and mentored through college, his earning of Certified Financial Planner, and his early career. “He joined us three years ago, and we haven’t looked back.”
The Fort Worth firm has
about $300 million in assets under management, Dignum says. Ninety-seven percent of clients are fee-only. “We have some people who just want a certain type of product where they want to pay a commission.”
30: Varghese Summersett PLLC
2019 sales: $2.26 million
2016 sales: $1.88 million
% change: 20.6 Law firm
Varghese Summersett, headed by the husbandand-wife team of Ben-
Benson Varghese Varghese Summersett PLLC
son Varghese and Anna Summersett, is one of the county’s largest and fastest-growing criminal defense firms.
The Fort Worth firm is known for the robust offerings of Q&As and videos it offers on its website, categorized by types of crimes. “Our reputation for being proactive has brought us clients who want to get ahead of their legal problems, which has helped us remain viable even in difficult times,” Varghese says of managing through COVID.
TheRegistry
Leaders in Fort Worth’s Financial Business Industry
Financial services make up one of the economy’s most important and influential sectors and include a broad range of activities such as banking, investment management, accounting, and insurance. The financial business leaders on the following pages would like to tell you about themselves, their practices, and why working with them will help facilitate your professional goals. The information in this section is provided by the advertisers and has not been independently verified by Fort Worth Inc.
Argent Trust Company
FOCUS: Wealth management services for individuals, families, and organizations, including trust services, investment management, oil and gas management and other fiduciary services. EDUCATION/CERTIFICATIONS: Kathy Christoffel, CTFA – Morton College, Canon Trust School; Patrice Parks – Dallas Baptist University; Buffie Campbell, JD, CPL – University of North Texas and Texas Wesleyan School of Law. BUSINESS RECOGNITIONS: 2020 Private Asset Management (PAM) Award for Best Philanthropic Initiative; 2019 PAM Award for Best Trustee; 2019 Inc. 5000 Fastest Growing Companies. LEADERSHIP PHILOSOPHY: Lead by example. Always listen first. COMMUNITY INVOLVEMENT: Kathy – Amphibian Productions board member; Patrice – active member of First Baptist of Burleson; Buffie – Texas Energy Council leadership. GREATEST PROFESSIONAL ACHIEVEMENTS: With almost a century of combined experience, these three women chose to join Argent to build something new and important in Fort Worth, leveraging the resources of Argent. FREE ADVICE: Be yourself. Stay genuine and display confidence that you are willing to learn from others and then be ready to contribute! Believe in your ability to do great things. Take the step. Be courageous. MOTTO: Thoughtful. Independent. Objective. PICTURED: Buffie Campbell, oil & gas property manager; Patrice Parks, trust administrative officer; Kathy Christoffel, market president.
CONTACT INFORMATION:
4200 S. Hulen St., Ste. 217 • Fort Worth, Texas 76109 817.502.2931 ArgentTrust.com
TheRegistry Financial Business Leaders
CapTex Bank
SPECIALTY: Commercial/Small Business Banking. WHAT SETS THEM
APART: We value each relationship and take pride in knowing our customers — they know our kids, where we live, have our cell phone numbers, and vice versa. We are headquartered in Fort Worth and take pride in serving our customers with a hometown feel. Most larger banks are headquartered in other places and do not understand and love Fort Worth the way we do.
MISSION: Do what’s right — first and foremost, we operate with honesty and integrity. Seize opportunity — we are proactive, seeking opportunities to serve you through a compassionate, competitive spirit so you always know we are looking out for you. Solve creatively — our employees are creative problem solvers for you. Deliver with excellence — by constantly improving through learning and growing in our expertise, you’ll find employ-
ees here who have a positive attitude and a sense of urgency and passion to meet your needs. Succeed together — your success is our success. FREE ADVICE: Follow your dreams; be passionate about everything you do. Let CapTex Bank help you achieve your dreams! PICTURED: Cade Carpenter, SVP Commercial Lending; Mike Thomas, President and Vice Chairman; George Lea, Chairman and CEO; Cole Loftin, Vice President and Credit Manager; Grant James, President Tarrant County; (not pictured) Richard Barajas, Chief Credit Officer.
CONTACT INFORMATION:
2929 W. Fifth St. • Fort Worth, Texas 76107
817.569.6226 • captex.bank
PSK LLP
SPECIALTY: Full-service CPA, consulting, and advisory firm. PROFESSIONAL AFFILIATIONS: For more than 20 years, Payroll Partners, an affiliate of PSK, has serviced hundreds of companies with consistent and accurate payroll, time and attendance needs. The relationship between PSK and Payroll Partners is built on the shared mission to serve clients with unparalleled attention and precision. WHAT SETS THEM APART: The firm opened for business in 1964 and is now one of the largest firms in Arlington. PSK LLP accountants are not your average accountants. The level of care and range of services offered to clients is unparalleled. Working with large and medium-size organizations in transportation, construction, real estate, manufacturing, professional services, insurance agencies, churches, nonprofit organizations as well as family-owned businesses and investor groups, PSK offers help to get financial tasks accomplished and accounting sys-
tems in order. PSK is a partner in handling and problem-solving any financial issue and celebrating all successes. This “relationship-first” mentality allows for top-notch service delivery. CORE VALUES: Passion for developing relationships; commitment to excellence; honesty and integrity; respect and accountability. MISSION: Dedicated to providing value to our clients through the success and development of our people. PICTURED: (back) Casey Campbell, Bryan Baughman, Kevin Brock; (middle) Kylie Lindsey, Marie Bosillo, Kathy Howlett; (front) Stephanie Buduhan.
BoomerJack’s founder Brent Tipps plans to open two restaurants in North Texas in 2021 and, later in the year, begin an expansion into Houston, his first outside the Metroplex.
BY SCOTT NISHIMURA / PHOTOGRAPHY BY OLAF GROWALD
COVID-19 was a big bump in the road for Brent Tipps, founder and CEO of BoomerJack’s Grill & Bar, the 17-store Hurst chain of popular restaurants. COVID forced a major contraction that turned into recovery hampered by the virus, but Tipps is planning new restaurants in 2021 and 2022, an expansion outside of North Texas for the first time, and a new restaurant concept.
In preparation for the growth, Tipps late last year founded an umbrella company called On Deck Concepts with a new corporate office and support center, home to the company’s operations, marketing, training, HR, accounting, construction, and interior design. Tipps, who estimates it costs the company $2.5 million to $2.8 million to open a store,
including land and construction costs, doesn’t want to outrun the company’s capacity to grow. An EO member, he sat down for a Q&A on the company’s eventful year.
"We want to maintain three to five (new) stores over the next couple of years." he says.
“We’d like to see that go up, [to] five to seven. We’re not going to get crazy. We don’t want to overexpand. We want to do it deliberately. Keeping our culture is the biggest thing. There’s no way to maintain the culture if we did 10 to 20 stores a year.”
Growth Plan Two
BoomerJack’s in North Texas in 2021 — in Plano in February and Lake Worth in April, both delayed from 2020 because of COVID-19. The company also plans to open its second Sidecar Social Lounge in North Texas — a relatively new
concept the company debuted in Dallas. Tipps says he’ll be ready soon to disclose the new Sidecar location. Later in 2021, Tipps plans to open a BoomerJack’s in Houston, the company’s first move outside North Texas.
In 2022, he plans to open another two BoomerJack’s and a Sidecar in Houston and two BoomerJack’s in the DFW area. Those moves will take the company up to $90 million in projected annual sales, from what Tipps projects will be $65 million at the end of 2021.
The company, which has 17 restaurant locations today and whose brands include the Bedford Ice House, is developing another new concept. “We’ve got another new concept coming out in 2021,” Tipps says. “I can’t really talk about it right now. Just a little premature.”
COVID-19 “The restaurant business went through a really rough and challenging time.
We’ve been very fortunate. We had to let a lot of people go [900 of more than 1,000 employees], but we brought everybody back as soon as we could. They were able to go out and collect stimulus money and unemployment money. As soon as we were able to open back up, we grabbed them all back in. [Even with current COVID-related restrictions on occupancy], we’re very happy with what we’re doing right now.”
Curbside and takeout Early on during COVID-19, “we tried it; we were spending a lot of time and energy. We shut it down, we cleaned all the restaurants, [and] we worked really hard to do all the maintenance. Now that we’re back open, our takeout and curbside volume has been ridiculous. We had stores that were doing a couple of hundred dollars a day in takeout. Those stores are doing $2,000 today in takeout.”
What Employers Can Expect from Biden
Some small business owners fear federal regulators will run amok under the new administration. These fears are misplaced.
BY VIANEI BRAUN
Have faith, employers — the sky is not falling. Thanks to overheated electionyear rhetoric, some business owners are fretting about 2021 and beyond. They fear that under President Biden, federal regulatory agencies will run amok and heap new risks and burdens upon fragile businesses.
These fears are misplaced. Most federal agencies operate in a surprisingly consistent fashion, with few significant operational changes from one administration to the next.
After all, most federal agency staff are not political appointees. They are regular employees with a job to do, and that job does not change after an election.
And of course, the Biden administration will be focused on COVID-19, distribution of vaccines, and strategies for economic recovery. There will be no political appetite for anything that looks like a burden on business.
Back to the first point: regulatory consistency. Consider the Equal Employment Opportunity Commission, which made no noticeable shift when the Obama administration gave way to the Trump administration.
During that time, the EEOC participated
in the Zarda v. Altitude Express case, arguing that Title VII protects LGBT employees from discrimination. Despite the transition to a less progressive administration in 2016, the EEOC stayed the course.
Court-watchers know that the Zarda case ultimately made it to the U.S. Supreme Court, where it was consolidated with the Bostock v. Clayton County case and resulted in a landmark decision in June 2020. It turns out that the EEOC was right: Title VII does indeed protect LGBT employees from discrimination.
Court-watchers also know that President Trump’s Department of Justice opposed this result and filed briefs at both the appellate court and Supreme Court levels. But the EEOC never changed its position. This resulted in two federal agencies filing opposing briefs in the same case, obviously a questionable use of tax dollars but a good example of the EEOC’s consistency.
So what to expect from the EEOC in 2021? No major changes but perhaps a shift in focus. This is not due to politics but due to the elephant in every room these days: COVID-19.
The EEOC has already issued guidance (available at eeoc.gov) regarding discrimination laws and COVID-19. More guidance
is expected as employers grapple with new issues, such as possibly mandating that employees receive the COVID-19 vaccine.
Charges of discrimination relating to COVID-19 will no doubt continue. Discrimination issues can arise if an employee seeks accommodations due to long-term effects from the virus or seeks accommodations due to a disability that places the employee at higher risk if exposed. Because many employers allowed some amount of working from home during 2020, it is now trickier than ever to deny an employee’s request to work from home, especially if the request is supported by a doctor’s note. Be alert for these types of issues and seek legal counsel.
Likewise, it is COVID-19, not the new administration, that will affect enforcement actions from other federal agencies, like the Department of Labor and its Occupational Safety and Health Administration.
The DOL has been diligently enforcing the Families First Coronavirus Response Act, which created emergency paid sick leave rights and expanded family and medical leave rights. These rights expired on Dec. 31, 2020. It remains to be seen whether they will be renewed.
OSHA will continue to be busy with workplace safety complaints alleging that employers are not doing enough to protect employees from COVID-19. The investigators seem genuinely focused on remedial actions necessary to ensure employee safety, not on citations and penalties.
In any event, these are trying times, and there are plenty of other things to be concerned about. Employers should scratch “regulatory tsunami” off their worry list.
employers in a wide variety of business sectors and provides litigation and administrative agency defense, compliance assistance, and practical advice. She is a regular
Vianei Braun is a shareholder in Decker Jones P.C. She represents
contributor to Fort Worth Inc.
Start ’Er Up
Why the best startups are created during economic downturn
BY BRANDOM GENGELBACH
More than 50% of today’s Fortune 500 companies were started during a recession or a bear market, according to research by the Kauffman Foundation.
“While starting a business during a recession may seem ill-advised, studies show that economic downturns are a great time to launch a new company,” says Cameron Cushman, assistant vice president, innovation ecosystems at UNT Health Science Center in Fort Worth.
Technology companies like Airbnb, Uber, WhatsApp, and Square were started during the 2008-2009 recession and have become household names.
“Recessions put the startup community in motion. People who unexpectedly lose their jobs will often take action on that side gig they’ve been putting off; some may even use severance packages as seed capital to get started,” says Cushman.
Locally, American Airlines, Bell, Galderma, and Alcon were all started during recessions, meaning that compa-
nies starting today could be the next big employers in our area.
“We’re seeing a 30-plus% increase year over year in our pipeline of first-time franchisees and hearing of similar statistics from national brands we serve,” says Geoff Seiber, founder and CEO of FranFund. “This is significant as the early 2020 numbers were already at record levels.”
According to the Sparkyard 2020 Jobs Report, firms 0-1 years old accounted for more than 25,000 new jobs created in Tarrant County each year from 2013 to 2018. It is now more critical than ever to recognize the importance of startups in job creation and to support them so that they can lead the community back to recovery as job-producing engines.
Numerous efforts are underway to help catalyze and strengthen our entrepreneurial ecosystem.
Sparkyard, in its role of cultivating a connected and vibrant entrepreneurial ecosystem in the Fort Worth area, is collecting metrics that measure the area’s
progress to build a stronger entrepreneurial ecosystem.
Global Entrepreneurship Week Fort Worth, a week-long series of events supporting the entrepreneurial and startup community, was the No. 1 GEW event in the country. GEW Fort Worth hosted 93 events, impacting nearly 1,600 entrepreneurs and business owners who are actively looking to grow their companies.
In 2020, the Fort Worth Chamber pivoted from its traditional programming and hosted free webinars for business owners on COVID-19 restrictions, funding resources, and workforce solutions. The Chamber also launched several resources and toolkits dedicated to small businesses and entrepreneurs.
“Small business and entrepreneurial communities are critical to economic growth in any community,” says Chris Strayer, executive vice president of economic development for the Fort Worth Chamber. “That’s why we put an emphasis on them in our economic development efforts.”
While many community partners are already working to further develop and amplify this community in Fort Worth, there are other ways for you to get involved.
• Organize a GEW event
• Attend 1 Million Cups chapters
• Nominate someone for the Chamber’s Small Business of the Year award Fort Worth needs to support the development of the next Uber or Airbnb that is based in Fort Worth.
Whether you’re a corporate CEO or a retiree looking to make an impact, we all have to work together to develop, attract, and cultivate this community. The future of Fort Worth is counting on it.
Brandom Gengelbach is CEO of the
Fort Worth Chamber of Commerce, a regular contributor to Fort Worth Inc.
Reducing Your Tax Liability and Risk
CFOs who understand state and local tax law — and how they impact each other within their businesses — can significantly reduce exposure and better guide compliance.
BY
TRAM LE
When it comes to state and local taxes, it can be daunting to determine what tax obligations a business is subject to. Broad-ranging business activities such as hiring or relocating employees, using contractors, and storing inventory can trigger a tax duty. Conducting sales and visiting customers in a state can create state tax nexus for sales and use tax, income tax, gross receipts, or franchise tax.
State tax nexus — often referred to as a connection with a state — is required before a state or local tax authority may impose a tax collection or filing duty on a business. The standards and rules for what constitutes nexus differ by tax type and jurisdiction. Determining whether a business has nexus in a state or local jurisdiction is highly dependent on business facts. CFOs and finance professionals must track business activities and
understand the implications of transactions, while staying abreast of state and local tax laws.
Failing to understand all state and local tax duties in states where a business is conducting activities and has nexus could result in significant exposure and audit risk. Activities that trigger a tax filing obligation for one tax type may also create nexus for another tax. It can be costly if CFOs isolate a single tax type from other taxes, such as filing corporate state income tax, but fail to address sales and use tax.
Sales and use taxes are generally administered and assessed at the state level on behalf of county, city, and other special district or municipal levels. A handful of states, such as Alabama, Colorado, and Louisiana, have hundreds of localities that administer their own sales and use taxes — with varying tax rules for definitions, exemptions, rates,
and reporting requirements. Noncompliance in a single jurisdiction or in multiple states and localities could result in tens of thousands of dollars in uncollected sales tax and a sizable tax assessment, including penalties and interest.
Avoiding or missing required state tax filings creates significant liability because the statute of limitations is triggered only when a business files a return. Without a filing, tax authorities can go back to when the company created nexus in the state.
There is no such thing as forgiveness for business owners overwhelmed by confusing and complex tax laws.
As states continue rolling out “economic nexus” standards in the wake of the U.S. Supreme Court’s 2018 decision in South Dakota vs. Wayfair, and in the collective pause we have seen with COVID-19, businesses may still be able to take advantage of a grace period to catch up on tax compliance:
Assess exposure holistically and identify gaps. CFOs and finance professionals should pay particular attention to sales and use tax registrations.
Participate in amnesty programs. Negotiate voluntary disclosure agreements and other binding agreements.
Take advantage of automation to manage sophisticated and multijurisdictional tax profiles.
Document, document, document.
In all these areas, work with your tax provider to make purposeful decisions about when and where to file, how to approach a state to negotiate compliance, and how to respond to notices and inquiries from tax authorities.
Tram Le is a CPA and attorney with an LLM in Taxation. She is a state and local tax (SALT) consultant and member of the SALTovation team at TaxOps. Tram is writing this column on behalf of the Fort Worth CPAs, a regular contributor to Fort Worth Inc.
FORT WORTH INC.
Apply today for Fort Worth Inc.’s Best Companies to Work For in Fort Worth!
Fort Worth Inc.’s Best Companies to Work For recognizes and honors the best employers in Fort Worth through its annual awards program. Independently run and judged by The Best Companies Group, the contest assesses applicants in two segments: an examination of company practices and results from a confidential employee survey. Finalists will be featured in the Fall 2021 issue of Fort Worth Inc. and on our website, fortworthinc.com.
To be eligible for consideration, organizations must:
• Be a publicly or privately held business
• Be a for-profit, not-for-profit business or government entity
• Have a facility in one of the following counties: Tarrant, Hood, Parker, Denton or Johnson
• Have a minimum of 15 full-time or part-time employees working in the eligible counties
fortworthinc.com/awards-programs/best-companies
Deadline is March 19
• Must be a business a minimum of one year
Love where you work? Apply today!
Call for Nominations
We are looking for those entrepreneurs whose vision, creativity and integrity have made Fort Worth the premier place to do business. Fort Worth Inc.’s Entrepreneur of Excellence Awards showcase and honor the contributions of exceptional entrepreneurs in the following areas:
Commercial Construction Consumer Goods Energy
Health Care and Life Sciences
Hospitality
Media, Communications and Public Relations
Professional Services
Real Estate
Residential Construction Tech and E-commerce
Transportation, Logistics and Distribution
Finalists from each category will be featured in the Winter issue of Fort Worth Inc. Anyone can nominate an exceptional entrepreneur — you can even nominate yourself.
fortworthinc.com/awards-programs/eoe
Deadline is July 2
LEADERSHIP
FORT WORTH
Main program:
Leadership Class
Established: 1972
Female participants: More than 55%
Participants of color: 24%-42%
Applications annually: More than 50
Industries: About 20 represented annually
picked up in August last year and culminated a Zoom-dominated interview process and job offer around Thanksgiving.
Diversity “Making sure we’re making our programs attractive to a truly diverse community is one of the things that’s most important to me. So many of our graduates go on to do good. We want to make sure they’re as diverse and inclusive as possible.”
Turning Point: Her LeadershipClass Experience “It a was a great experience. HSC was my employer at the time. I learned so much about Fort Worth, the history, the inner workings, just the kind of things a regular resident wouldn’t necessarily know about, the incredible networking. My class was probably about 45-50 folks. I can still reach out to them.”
Jennifer Trevino
The
new executive director of Leadership Fort Worth wants to modernize the program
and make sure it’s diverse, inclusive, and reflects the changing Fort Worth.
BY SCOTT NISHIMURA | PHOTO BY OLAF GROWALD
Jennifer Trevino, new executive director of Leadership Fort Worth, wants to refresh the organization’s programs — meant to identify and cultivate the city’s future leaders and connect them to networks and causes they care about — and ensure those offerings and recruiting classes are diverse and inclusive, reflecting the city’s population growth. “I’m a big believer in not just a seat at the table, but how do you grow the table.”
Trevino, a graduate of the LeadershipClass 2009, was chief development officer for Girls Inc. of Tarrant County when she accepted the post at Leadership
Fort Worth. She was previously a management consultant with Brittain-Kalish Group in Fort Worth, which specializes in health care; vice president of administration and chief of staff at UNT Health Science Center; and a product marketing manager for RadioShack. She was a member of the city’s Race and Culture Task Force on racial equity and ran for the Fort Worth City Council’s North Side District 2 seat in 2017. Trevino has an MBA in marketing from TCU.
After then-executive director Harriet Harral announced her retirement in June 2019, “I had some folks in the community reach out and ask if I’d be interested.” That
Meeting Fort Worth’s Needs “I also knew there were some things that needed to be refreshed, needed to be modernized. We’re the 13th largest city in the country, but it doesn’t always feel that way. The board is taking a look at the community. Are we meeting the needs? The demographics of the city are changing. There are parts of Fort Worth that feel very rural. There are parts of Fort Worth that feel like a whole other city. There are parts of Fort Worth that are brand-new shiny.”
Bringing Her Business, Nonprofit, and Consulting Background to Bear “It gives me a different perspective on some things. We want Leadership Fort Worth to be thought of as an organization that you go to, a place where we’re producing and refining professional and community leaders.”
Scholarships “The majority of participants are sponsored by their employer, which is why we are making intentional efforts to recruit participants and provide financial support for qualified participants who may not have their employer’s financial support to make the financial commitment to the program.”
