FAVI Entertainment recently hired a couple of people, made the Michigan 50 Companies to Watch List and now the Sterling Heights tech firm expects to have a significant growth year in 2012.
FAVI Entertainment specializes in custom-designed consumer electronics casings for things like TVs, projectors, projector screens, and other accessories. Its work in TV frames over the last year has really taken off.
"We will do it on white or pink for breast cancer awareness," says Jeremy Yakel, president of FAVI Entertainment
. "Things like this have grown significantly."
The 5-year-old company has grown its revenue from $2.5 million in 2010 to $3.7 million last year. "We are on pace to increase those numbers to $8 million this year," Yakel says. "We have new retailers and distribution channels coming online this year."
That grown has allowed FAVI Entertainment to hire two design engineers over the last year, expanding its staff to nine employees and an intern. It's looking to add another intern this summer to help the company continue to growth.
"There is a lot of opportunity in the e-commerce space," Yakel says. "That area is going to continue to explode."
Source: Jeremy Yakel, president of FAVI Entertainment
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.