23. Noosa Chocolate Factory

Revenue: $4.4 million
Growth: 136.1%
Founders: Gordon Thomson, 65, Pam Thomson, 57
Head office: Noosaville, Queensland
Year founded: 2012
Employees: 11
Industry: Manufacturing, transport and logistics
Website: www.noosachocolatefactory.com.au

The founders of Noosa Chocolate Factory eschewed the typical approach taken by confectionery retailers, choosing to offer “take home and share with the family” products rather than “over packaged” gifting products. This model has proven successful for the business, which landed in the top 10 of last year’s Smart50 despite being only three years old.

In 2015-16, the business turned over $4.4 million. Over the past three years, the business has grown its revenue by 136.1%.

Noosa Chocolate Factory aims to offer fresh, high-quality chocolate products for shoppers to buy for themselves and enjoy at home, from its chocolate-covered macadamias to its own Rocky Road recipe. All products are manufactured by the company from its own facilities.

Having found a niche in the already crowded chocolate market, the company regularly sells out of its products on a given day, despite manufacturing over six tonnes of chocolate every month.

A larger 1800 square metre manufacturing facility will open in February 2017, which will allow the company to manufacture $20 million of product each year. Overseas demand has also prompted the Queensland company to open a store in Japan, with the potential for satellite factory to match.

An online hamper subscription will also be coming in late 2017, which rounds out the company’s immediate plans for expansion.

Focus on the Noosa Chocolate Factory’s brand appears to be holding the company in good stead, as competitive supermarket chocolate pricing is creating an increasingly difficult environment for other manufacturers.

Internally, the chocolate-loving founders often turn to their staff for new ideas and use social media tools to help the business continue to innovate. Recently, one staff member suggested the company install live cameras in their warehouse so customers could see the products being created.