Peppi Gel, a woman-owned start-up company, has announced it has exceeded its expected annual growth rate for 206 through 2018 -- and grossed $3 million dollars.
Peppi Gel reached $1million in revenue during its first year in business, in 2016. In 2019, Peppi Gel is projecting to reach between $5M and $6M in gross annual revenue.
The company created DIY manicure kits, featuring its Dip Powder system, marketed as a healthy alternative to gel manicures.
Peppi Gel says its growth rates exceed industry averages for start-ups, according to a report by Equidam. A revenue growth rate of 120% is average for a first year, 83% in year 2, and 60% in year 3. In the Consumer Goods sector, the average between years 1 and 2 is about 200%. Peppi Gel tripled its revenues in its first two years and is set to double that in 2019.
The woman-owned company was founded by Tiffany Jacobs and Megan Merkosky, who bonded over their entrepreneurial passion and mutual love of 'manicure and pedicure' dates.
Jacobs says, "What began as a passion grew into an entrepreneurial venture and now a community of its own. Our loyal fans love our products as much as we do. We are thrilled to be sharing our love of business and great nails with the world."
Photo: via Instagram/peppigel