FOS Revenue Continues To Skyrocket
July 19, 2021
Thanks to Dan Miner & Buffalo Business First for meeting with FOS President, Joe Cassata, to share our growth story! Read the full article to learn how FOS is gaining facilities management optimization market share:
“FOS of CannonDesign was spun out as a separate LLC last year, though it is still owned by its namesake Buffalo-based architecture and engineering parent company. FOS is on an incredible growth streak, backed by its high-margin enterprise software business. Revenue has gone from about $2.3 million six years ago to about $5 million just before the pandemic, said Joseph Cassata, president of FOS and CannonDesign principal. It jumped to $10 million last year and is expected to reach $16 million this year. Cassata said the five-year goal is to be a $50 million company.
Facilities management optimization isn’t a new field, but FOS is gobbling up market share based on a few factors, he said. The first is that there is tremendous demand right now as property owners consider how to best utilize their footprints following the pandemic. The second is that FOS brings CannonDesign’s boutique sense of client service. And the third is that FOS developed its own custom software, a service that few of its competitors can offer.”
“We design and integrate facility management software. We collect all this data and tag all of their assets, then we provide short- and long-term planning of how to spend their money over the next five- to 10-year period.”