TAGS: Royal Vending, Portland Business Journal, Oregon's 100 Fastest Growing Companies, vending, micro market, Ryan Harrington
TIGARD, OR -- Royal Vending, which serves the greater Portland, OR, area, ranked No. 57 on the Portland Business Journal's 2017 list of Oregon's 100 Fastest Growing Companies. Oregon firms are ranked in terms of their revenue growth between 2014 and 2016. This year's top-ranked business logged growth exceeding 1,519% over that two-year period.
Royal Vending, based here, reported 104.5% revenue growth from 2014 to 2016. It had $1.8 million in gross revenue and 10 employees in 2016.
Royal Vending, which has grown to become one of the largest locally owned independent vending companies in the Portland area, attributed much of its growth to leveraging technology and micromarkets. Ryan Harrington founded the company in 2006 by as a part-time venture run out of his garage. In 2008, his wife Michelle brought her human resources and operations background to the company, which became a full-time endeavor for the couple.
Royal Vending grew quickly and moved soon moved into its first commercial location. Today, the company provides vending, office coffee and pantry services, and operates 49 micromarkets. It has four routes that service more than 300 locations. The company plans to add a fifth route in 2017; it expects to operate around 70 micromarkets by the year's end. It also recently opened an online store.