By: Jake Levinson
FAST’s business model has long been one of iterative growth, more akin to a retail company than an industrial one. First was a massive branch network expansion, tripling from ~900 in 1998 to a peak of more than 2,600 in 2013. Then came vending, which has gone from close to zero 10 years ago to an installed base of nearly 80,000 machines today. The latest effort is Onsite (a store within or adjacent to a customer facility), which is on its way to 1,000 locations in the next year.