When it comes to hiring employees within your business are your hiring decisions intentional, well planned, and production based, or are you simply hiring out of obligation or desperation?
I recently attended a function held by the St. Louis Business Journal regarding family businesses and how they had transitioned to the second, third, and even fourth generations. It was a program of interest to me because so many HVAC and sheet metal businesses have traditionally been family-owned and have been passed from father to son.
Family businesses have long been a mainstay of the industry, and multigenerational companies are proud of their HVACR heritages. And, in spite of the challenges, many contractors have successfully passed the torch to succeeding generations and are now planning for future transitions.
More than 70 percent of all businesses in the United States are family businesses, generating more than half of the U.S. gross national product (GNP). However, two out of three don’t survive to the next generation. How does a family business remain on the plus side of these statistics?
After years of hard work, you’ve built the family business into a great success and you take pride in meeting the challenges that each day brings. At some point, though, the day arrives when it’s time to turn the reins over to the next generation.
Not only do the Simioni sons keep their family business fresh, but the family’s insistence on keeping up to date with technology also keeps them on the cutting edge of the HVAC and mechanical market.
The Bill Howe Family of Companies, comprised of three divisions offering services in air conditioning and heating, plumbing, and restoration and flood remediation, announced that the San Diego Business Journal has honored the company with its Family Owned Business Award.
Star of the hit cable TV show “Hardcore Pawn,” which quickly catapulted him to national fame, Les Gold is anything but an overnight sensation when it comes to business.
While the working relationships that are formed are special, family members also face many challenges, from family arguments spreading to the office to disputes over succession. But many HVAC contractors have learned to successfully navigate these issues and are planning how the business will go forward with the next generation.
Family owned and fairly large — these are two phrases that don’t always mesh in the HVAC distribution industry, but they aptly describe M&A Supply Co. Inc. Headquartered in Brentwood, Tenn., the distributor employs 160 people across 20 locations in eight different states.