About Us
On July 1st, 2024, iSpace Environments converted to a 100% Employee-Owned Company. We are humbled and honored by this opportunity, and immensely grateful for the vision and fortitude of our leadership team that lead to this transition. Read on for a recounting of the journey that lead us here.
Joel Peterson, the founder of iSpace Environments, began his entrepreneurial journey early. At 27, he started selling office furniture, a venture that has grown into a global operation with over 100 employees and revenues exceeding $60 million annually. Joel’s business acumen was shaped by his experiences during high school and college, where he balanced education with hands-on work and entrepreneurial ventures. His first venture was organizing packaged travel programs to Mazatlán for college students. It gave him a passion for building and owning a business.
Peterson’s pivot into the office furniture industry began when he joined a company where his mother worked. Starting as a furniture installer and quickly rising to the top sales rep, Joel’s determination and insight led him to start WorkPlace 2000, which eventually evolved into iSpace Environments. The company’s client list boasts prominent names like Polaris, Piper Sandler, and Arctic Wolf, with a rapidly growing division in Automotive Dealerships.
The decision to transition iSpace Environments to a 100% employee-owned company was inspired by Dan White, Director of Business Development. Dan, who has previously worked for Scheels, shared the impact of working for an employee-owned company. Dan said that it had a profound impact on his dedication to the company and work ethic. Conversations with other employee-owned businesses reinforced the benefits, such as enhanced employee retention and market appeal – all of which resonated with Joel’s vision for iSpace.
Although financial incentives like tax benefits played a role, the primary motivation was to align with Peterson’s vision of rewarding the dedicated employees who have contributed to the company’s success. Acknowledging that the company had grown beyond his capacity to manage alone, he saw employee ownership as a way to ensure long-term sustainability and preserve the company’s legacy.
Employee ownership is anticipated to attract top talent, improve retention, and boost employee engagement and productivity. Educating employees on their impact on share value will be vital. The model is expected to enhance customer relationships and market perception, making iSpace Environments more attractive to potential clients. Looking ahead, Peterson aims to reach $100 million in revenue within the next eight years, confident in his leadership team’s ability to drive growth and innovation.
From its beginnings in 1993 to becoming a global leader in office furniture and design solutions, iSpace Environments’ journey reflects Joel Peterson’s entrepreneurial spirit and vision. On July 1, 2024 Joel converted iSpace Environments to a 100% Employee-Owned Company. The transition to employee ownership marks a new chapter, ensuring that the company’s legacy and success are shared with those who have built it.
Written by Teri Pierce
Showroom / HR / Marketing Coordinator
