TorranceLearning grew its revenue last year (by 20 percent) but the story that makes the 8-year-old business’s leadership smile is how net income spiked.
"Profitability went way up last year," says Megan Torrance, CEO of
TorranceLearning.
That is due to a couple of different factors for the education company that got its start providing e-learning solutions. It won an award for an employee education project is did with Denso last year and has been pushing its boundaries by helping create a STEM education exhibit for elementary school students at the Ann Arbor Hands-On Museum.
"We're making interactive, personalized exhibits that track the education of students for teachers," Torrance says.
TorranceLearning is also renting out part of its workspace in the
Clocktower in downtown Chelsea. The company created a brainstorming space that measures out to about 2,300 square feet. It has been renting it out to local corporations, like Johnson & Johnson and Trinity Health.
"We realized this space was too awesome to keep to ourselves," Torrance says.
That extra income has allowed the company to expand its staff. It has hired two people over the last year (e-learning developers) and now has a staff of 11 employees and one intern.
Source: Megan Torrance, CEO of TorranceLearning
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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