Episode 85: How Hiring a Non-Family CEO may Ensure Success for Your Family Business

Our guest today is Richard Perko, President and CEO of the Lee Company in Franklin, Tennessee.

Richard joined Lee Company as a project engineer right out of college in 1996. Twenty years later, he was named CEO of the company, adding that title and responsibilities to his role as president – a position he has held since 2009.

As President and CEO, Richard is responsible for all company sales, operations, and strategic planning. His current focus is on guiding Lee Company’s ongoing, successful evolution from a traditional mechanical contractor and residential HVAC provider to a comprehensive Facilities Solutions, Home Services, and Construction Services provider.

Richard’s journey to the top leadership position speaks to Lee Company’s mission to create a workplace where employees can thrive.

In this episode of Family Business Today, you will learn:

What are some of the key benefits of hiring non-family leaders in a family business?

• What are the advantages and/or disadvantages of hiring from outside the company vs promoting from within?

• What questions should family business leadership ask themselves before searching for their first non-family executive?

• What questions should a non-family executive ask the family business leadership during the interview process?

• How can non-family executives in a family business nurture and mentor the next generation of family leaders?

• And more….

 To learn more about Richard Perko and the lee company visit their website at https://www.leecompany.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant.

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 84: Bringing Together Faith and Business to Impact Culture in Your Family Business

Our guest today is Peter Demos, 2nd generation restaurateur at Demos’ Restaurant in Murfreesboro, Tennessee.

Peter’s vision for Demos’ is clear and simple. “We want the customer to leave in a better mood than when he or she came in.”

In 1999, Peter returned to his parents’ family restaurant, Demos’ Restaurant, with the single goal of growing the organization. His experience as a restauranteur grew, and he was given the position of chairman on the Board of Directors for the Rutherford County Chamber of Commerce and president of the Tennessee Hospitality Association. Currently, he is the president and CEO of Demos’ Brands and Demos Family Kitchen, owning six restaurant locations across middle Tennessee, including PDK Southern Kitchen and Pantry, and multiple other businesses.

Peter is a highly sought-after leadership expert and speaker on business, leadership and faith. His latest professional pursuit is the release of his compelling debut book detailing his journey from fear-filled to fearless, “Afraid to Trust.” He has been featured in numerous mainstream and faith-based publications.

Today, Peter and his wife Kristin work closely together in both business and ministry. They are now teaching their two children to also serve God with their lives.

In this episode of Family Business Today, you will learn:

• How he developed a clear vision for his restaurants and uses his vision to continually guide both short-term and long-term growth

• What it means for a business to have “true value

• How to incorporate sustainability and responsible stewards into his restaurant’s operations as a Christian business leader

• How to ensure your restaurants are successful financially while staying true to your values

• How he creates a workplace culture that reflects his values and supports his employees beyond just a paycheck

• What kind of legacy he hopes to leave through his restaurants

• And more…

To learn more about Peter Demos and Demos Restaurants visit their website at https://www.peterdemos.org/

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant.

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 83: Plan for the Future, Preserve the Legacy with Jim and Bill Stranberg

Our guests today are Bill and Jim Stranberg. Jim is the founder of Stranberg Resource Group in Lake Forest, Illinois. His son, Bill, is a partner in the family firm. As a second generation, family-owned firm focused on CEO succession planning, search and selection business, they support family business leadership in their recruitment efforts.

In this episode of Family Business Today, you will learn:

• How Jim planned for his children to join their family business

• Should children get experience working somewhere else before joining the family business

• Three most critical factors family businesses overlook when planning for outside executive succession

• The most challenging conversation that family members undertake during the succession planning process

• And more…

To learn more about Stranberg Resource Group, visit their website at www.stranberg.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant.

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 82: 100 Years and still going strong at Chattanooga Bakery, MoonPies have never tasted so good as now

Our guests today are Mallie Campbell and Sam Campbell V, Cousins and 5th Generation Owners of Chattanooga Bakery, makers of the iconic 108-year-old MoonPie.

Mallie Campbell is a 5th generation owner and Purchasing Manager for Chattanooga Bakery Inc., makers of the iconic, 108-year-old MoonPie. Mallie was born and raised in Chattanooga, Tn with a passion for baking from a young age innately around the bakery or at home decorating cookies and cakes for family and friends. She graduated in 2019 from Samford University with majors in Management and Entrepreneurship while spending summers working at the Tennessee Bun Company and Chattanooga Bakery. Mallie worked at ALDI as a District Manager before joining her family at Chattanooga Bakery as a Purchasing Manager just over a year ago.

Sam Campbell V is a 5th generation owner and VP of Manufacturing for Chattanooga Bakery Inc., makers of the iconic, 108-year-old MoonPie. Sam grew up in Chattanooga, TN and spent his high school summers working in the factory. He attended Washington and Lee University where he graduated with a degree in Business Administration. Following college, Sam gained valuable food industry experience with Snyder’s-Lance (now Campbell Soup) in their Research & Development department. Prior to joining Chattanooga Bakery in 2021, Sam was an Assistant Vice President with Colliers International’s Food Advisory Services Group, representing buyers and sellers of food related industrial buildings nationwide. He currently leads Chattanooga Bakery’s Lean Manufacturing efforts as the company remains focused on baking memories for generations to come.

In this episode of Family Business Today, you will learn:

• The different routes each one took to become involved in the family business

• The importance of family values to create a family legacy that has lasted over 100 years

• Secrets to success keeping the business in the family and successfully transitioning to the fifth generation

• How siblings and/or cousins can successfully work together in a family business

• And more…

To learn more about Chattanooga Bakery, visit their website at www.moonpie.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant.

Until next time, There’s No Business Like a Family Business…. We Know!

Episode 81: What Questions Should You Ask Yourself Before Considering Selling your Family Business?

Our guest today is Jeff Hopmayer who founded the Brindiamo Group in 2012. Jeff’s name is synonymous with excellence and innovation in the beverage alcohol industry.

The Brindiamo Group is one of the premier providers of bulk bourbon and whiskey in the world.

Hopmayer's dedication to whiskey education and community involvement is showcased through various initiatives, notably the Brindiamo Penthouse established in Bardstown, KY, in 2022. In partnership with the Bourbon Capital Academy and Kentucky Bourbon Festival, it serves as a hub for bourbon tastings and industry networking events. Furthermore, Brindiamo's principal sponsorship of the World Whiskies Awards underscores its commitment to promoting excellence within the industry.

In this episode of Family Business Today, you will learn:

• What is the first question you should ask yourself before selling your business?

• What are the main goals around someone selling their business?

• Know when to hold them? Know when to fold them? When is the best time to sell your business or when to keep it?

• What is the First question you should ask yourself before selling your business?

• What are the main goals around someone selling their business?

• Know when to hold them? Know when to fold them? When is the best time to sell your business or when to keep it?

• And more…

To learn more about Jeff Hopmayer and The Brindiamo Group, visit their website at www.brindiamogroup.com.

At the Tennessee Center for Family Business our passion is to help business owners create a positive environment in which their family THRIVES, their business performs and working together they create a lasting family legacy. To learn more about the Tennessee Center for Family Business visit www.tncfb.com.

If you are considering a transition in your family business contact us today for a FREE  Transition Assessment (follow link) and receive a one-on-one review of your business transition preparedness with a family business consultant.

Until next time, There’s No Business Like a Family Business…. We Know!