FutureNet Group once relied on a trifecta of industries for triple-digit revenue growth. Now that the 20-year-old company is maturing, its growth remains robust, though not quite as numerically impressive.
The Detroit-based firm (it makes its home on the city's far west side) clocked triple-digit revenue gains for several years as it grew its market share in the construction, IT/technology, and energy/environmental industries. Now it's aiming for double-digit growth as it continues to grow.
"We are expecting at least 20-30 percent growth," says Jay Mehta, senior vice president of
FutureNet Group.
That growth has allowed FutureNet Growth to hire 80 people over the last year, expanding its staff to more than 300 people. The new jobs are in a variety of positions across the entire company.
Helping continue the company's growth is its new expansion in the security field. FutureNet Group acquired the perimeter security division from Smith & Wesson in 2012 and has since transformed that unit's losses into profits.
"We have been able to grow it quite a bit," Mehta says.
FutureNet Group’s perimeter security solutions include new technology to keep people and vehicles out of a facility by stoping them at the perimeter (Think access control gates). FutureNet Group’s access gate solutions have matured to the point where they focus on stopping an intruder while minimizing harm to that person.
"The whole intent is to catch the person alive," Mehta says. "No matter what's their intent."
Source: Jay Mehta, senior vice president of FutureNet Group
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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