Family Business Profiles
Steeped in tradition, originality and award-winning taste, Woodman’s of Essex holds one major claim to fame above the rest – inventor of the fried clam. Over 100 years and five generations later, Woodman’s continues to fry clams where it all began.
At family-owned A.W. Chesterton Co., they start ’em young; “Some of my earliest memories are my father really talking to me about the business when I was a boy. I think he probably even talked to me when I was in my crib,” jokes CEO and President Andrew Chesterton.
When a family business has endured for four generations, it must be doing something right. But in the case of Ayer-based Catania Oils, a processor and packager of organic, non-GMO vegetable, olive and blended oils, that something might just be a desire to continually change and improve.
Life moves fast for the Weitbrecht family – and that’s how they like it. They have to keep their eyes wide and move fast to get the auction items out the door.
Family Business Resources
Many family business owners become complacent about creditor exposure because they believe their corporate or limited liability company structure will protect the business. The fact is that if it is a corporation and you or anyone else owns shares in their own name, jointly with another, or even in a revocable trust, the answer is, it’s not protected.
Being sued is unnerving, particularly the first time it happens. And with good reason: Litigation can be expensive, inefficient and uncontrollable. But a big part of the stress is really just fear of the unknown. The purpose of this article is to make the unknown known.
Estate planning is never more challenging than when it’s for the owner of a family business. Such planning is fundamentally different from planning for other individuals, so the one-size-fits-all standard estate plan is virtually certain to fail the owner’s needs.
News of global cyberattacks have businesses, institutions and individuals on edge. While insurance is important, prevention is preferable.
Family Business Matters
Family businesses face many challenges as they strive to survive and thrive. Among the most difficult to overcome is one that is unique to a closely held business: divorce. For a family business to survive a divorce, the possibility of divorce must be anticipated and planned for well in advance. While nobody wants to imagine a time when a marriage is dissolved, it is inexcusable to ignore the possibility.
The day-to-day challenges of managing a family business can often complicate or even prevent the development of a continuity plan.
Today, we proudly stand as a leading, independent chain of convenience stores and gasoline stations, with locations throughout Eastern Massachusetts and New Hampshire, but the humble beginnings of our family-owned business were anything but lofty!
Tailor shops are almost universally small businesses, and many are family-run. The singular importance of referrals allows them to exist for generations without so much as spending the equivalent of a piece of Hancock’s chalk on advertising, while other businesses on the same block can fail despite the best laid promotional schemes of computer mice and admen.
Family Business Awards & Conferences
The Massachusetts Family Business Conference convened this year in Boston’s celebrated Colonnade Hotel on Oct. 25; the annual Family Business Awards ceremony preceded the conference.
The ninth annual Massachusetts Family Business Awards took place this year on Oct. 24, the evening prior to the Family Business Conference, at the Colonnade Hotel in Boston.