The Dallas Business Journal’s list measures sales growth over the past three years
After moving to Dallas last year, JetSuite this year was named as one of the 100 Fastest-Growing Private Companies on the 2019 list by The Dallas Business Journal. JetSuite had been based in Orange County, California.
In its 29th year for awards, the newspaper said it worked together with The Caruth Institute for Entrepreneurship at Southern Methodist University’s Cox School of Business to put the list together.
To qualify for the Dallas 100, companies must be headquartered in the Dallas and Fort Worth Metroplex, and be independent, privately held corporations, proprietorships or partnerships as of May 1, 2019.
Each company must have at least three years of history with sales of at least $500,000, but less than $75 million in the fiscal year 2016.
Companies are judged on their sales growth over the period and must have a credit report and character satisfactory to the Dallas 100 judges.
The complete rankings of the 100 companies will be announced at the event on Nov. 21.
Last year, for the No. 1 spot was Carrollton-based Revolution Retail Systems LLC. The 2016 winner was Varidesk, the adjustable furniture company founded by two friends in 2013 that now sells globally in over 130 countries.
The full rankings and where JetSuite placed on the list will be revealed on Nov. 21. JetSuite has been growing in two ways recently.
JetSuite’s Phenom 300 focus
First, it has been switching its JetSuite fleet focus from the Embraer Phenom 100 to the Phenom 300, the larger aircraft means longer flights on more expensive private jets.
Its JSX division (formerly JetSuiteX), which offers scheduled flights using private terminals and Embraer 145/135s in an executive shuttle configuration, has also been growing, recently adding Seattle and Phoenix to its network.
It’s expected the growth will continue. Its president Stephanie Chung recently told Private Jet Card Comparisons that JetSuite’s full private jet charter side which sells both jet cards and on-demand charter is getting ready to add at least one new aircraft type beyond the Phenoms to its offerings, likely signaling larger jets which would fuel even more revenue growth.
JetSuite counts both JetBlue and Qatar Airways as investors. In an interesting twist, Qatar had initially been interested in DFW-based American Airlines, Inc. before being rebuffed.
Currently, its SuiteKey jet card program starts at $100,000. In the past year, it has added upgraded catering plus partnerships with Blade for helicopter transfers and luxury travel agency Embark Beyond to create JetSuite Experiences. Last week it announced a special VVIP experience around Super Bowl LIV in Miami in 2020.
Private Jet News & Insights:
Over 150 private jets compared by range, speed, cabin size, and baggage capacity
The Ultimate Restaurant Guide for Private Jet Travelers
Fractional Jet Ownership – a complete guide
How not to get burned when you buy a private jet membership
Part 135 versus Part 91: What you need to know and why it matters
Find out why you should become a paid subscriber to Private Jet Card Comparisons here.