Monthly Message -- November 2011
A Hometown Legend:
The Ingredients for Wendy's Success
November 17, 2011 - 7:30-9:00 a.m.
Alumni Hall at Ohio Dominican University
Pam Farber, daughter of Wendy's founder Dave Thomas and Vice President of Thomas Limited 5, will share how Wendy's Restaurants got started and the roles family members played in developing it into a family business success story in a candid interview with Conway Center board member Mike Schoedinger, of Schoedinger Funeral and Cremation Service. This interview will shed light on the Thomas family's challenges and successes and provide insight that will interest and amuse family business leaders at every level. Farber will share stories about her dad's original vision of providing for his family, reaching the pinnacle of Wendy's success, being the child of an entrepreneur, and becoming a leader of a multi-unit franchise group.
Be sure to join us to find out what went into making Wendy's a household name, with more than 6,500 restaurants in 26 countries and territories worldwide, and to learn how the whole family contributed both at home and in the restaurants to create an iconic family business.
Please RSVP to Deana Gordon at 614-253-4820, gordon@familybusinesscenter, or at www.familybusinesscenter.com by noon on Wednesday, November 16, 2011.
Year-End Tax Discussion
Hosted by the Women's Peer Group
Tuesday, November 15, 2011 - 7:30-9:00 a.m.
Griffin Student Center at ODU - Room 260
The Women's Peer Group will open up its November monthly program to a limited number of Conway Center members (male or female) who are interested in learning more about year-end tax questions and concerns. Nancy Watts and Robert Penrose, of Norman Jones Enlow & Co., will cover:
* Defining and accounting for employees versus independent contractors - including information about an IRS settlement and voluntary compliance program regarding misclassification
The meeting takes place on Tuesday, November 15, from 7:30-9:00 a.m., in room 260 at the Griffin Student Center at Ohio Dominican University. We have just a few seats left so please RSVP if you plan to attend! RSVP to Connie Nicholson at firstname.lastname@example.org.
Mark Your Calendar
for December's Programs
Thinking of Selling Your Family Business?
December 8, 2011 - 7:30-9:00 a.m.
Alumni Hall at Ohio Dominican University
Have you ever thought about selling your family business? If so, you're not alone. Nearly 47% of family business owners are considering selling their company within the next five years, according to new research by business advisory firm Rothstein Kass. Join Conway Center Service Provider Joel Guth, of The Guth Group at Morgan Stanley Smith Barney, and family business leader David Schottenstein, the Founder and CEO of Astor & Black, to learn more about making this difficult decision and dealing with the aftermath.
Creating a Personal Development Plan
for the Family Business Leader
December 13, 2011 - Noon-1:00 p.m.
Griffin Student Center at Ohio Dominican University
Setting goals for yourself and your business is not a new concept, but taking time to create a Personal Development Plan that brings renewed energy and focus to your career and your family business can be an innovative way to strengthen both. A Personal Development Plan offers a unique opportunity for you to fully analyze your knowledge about day-to-day business operations and to assess your own strengths and talents. Join Bea Wolper, of Emens & Wolper Law Firm, during this hands-on program designed to kick-start your plans for 2012.
More than 300 family business leaders and service providers gathered to celebrate the success of this year's family business awards honorees and to learn more about the hard work and dedication required to succeed in their respective industries. We congratulate this year's honorees: Atlas Butler Heating & Cooling; Becky Blatt; The Charles Penzone Salons; Columbus Sign Company; Courtesy Ambulance Inc; Donatos Pizza, EclipseCorp; George J. Igel & Co., Inc.; Highlights for Children, Inc.; Inn & Spa at Cedar Falls, Lincoln Construction; Lindey's Restaurant; Martin Carpet Cleaning Company; Ohio Dominican University; The Ohio Exterminating Co.; Ohio Support Services; Charles Penzone; Rhoads Farm Market and Garden Center; Rumpke Consolidated Companies, Inc.; Stanley Steemer International, Inc.; Uniglobe Travel Designers, Inc.; White Castle System, Inc.; and The Wilson Bohanan Lock Company.
The 13th Annual Family Business Awards Program was made possible because of the hard work and contributions of many people and organizations including our sponsors - Business First, Chester, Willcox & Saxbe, Commerce National Bank, The Guth Group at Morgan Stanley Smith Barney, Rider Financial Group, Oxiem Interactive, Webbed Marketing, and WOSU; our emcee - WBNS-10TV Anchor Angela An; Capitol Citicom, Inc.; and Catering by Design. Thank you to one and all who made the day enjoyable for everyone who attended.
Dick and Deana
Central Ohio's Oldest Family Business Leader
Conway Center member William A. Reynolds, Sr. age 95, passed away Tuesday, October 25, 2011. Bill Reynolds was a valued member of the family business community and will be missed by many. In 1955, Bill founded Johnny on the Spot, one of the first sanitation companies and opened numerous locations throughout the country and most recently focused his energy on Rent-A-John, Central Ohio's oldest portable sanitation provider. Three of his children, Bill Jr., Bobbie, and Cassie, continue to work together in the family business.
Upcoming Peer Group Meetings
To sign up for any of this month's peer group meetings or to learn more about peer group opportunities contact Peer Group Coordinator Connie Nicholson at email@example.com or visit www.familybusinesscenter.com.
Women in Family Business Peer Group
Next Generation Leaders Peer Group
Marketing/Sales Peer Group
CEO Peer Group (RSVP Required*)
Family Business Leaders Peer Group
New Next Generation Leaders Peer Group Forming
Are you an up-and-coming leader of a family-owned business who will be assuming a greater leadership role in your family's company or someone who will have that opportunity in the future? If so, you should consider joining the 2012 Next Generation Leaders Peer Group led by organizational psychologist Dr. Thaddeus O'Brien, of O'Brien & Associates. Dr. O'Brien moderates the group in a roundtable format that gives members insight into the issues and challenges that affect next-generation leaders through guided sessions and peer-to-peer input. Participants also learn to evaluate their own strengths and weaknesses at a time when they are preparing for expanded responsibilities. If you are interested in learning more about this free opportunity for Conway Center members, contact Connie Nicholson at firstname.lastname@example.org.
A Chance to Voice Ohio's Family Business Perspective
Last year, hundreds of committed family business owners provided valuable responses to Family Enterprise USA's first national survey which helped clarify the state of family businesses and the issues they find important. The results were featured in the Wall Street Journal and were regularly cited in discussions with members of Congress, the U.S. Senate, and the media. This year, FEUSA is seeking responses from even more family businesses to make the survey more meaningful to policymakers and the media. Please add your perspective to this valuable tool. It should take no more than 10 minutes to complete and will help represent Ohio's family business perspective on a national level. Please complete the survey by November 23rd by clicking here: 2011 Annual Family Enterprise Survey. All individual responses are anonymous and confidential except one noted optional exception. When the report is final and the results are public, you will be sent a final copy for your review.
Welcome New Member
Lair's Hallmark Centers
4828 Calloway Court, Dublin, Ohio 43017/614-766-1389
In 1972, two sisters, Lorraine and Isabel, along with their husbands, Robert Buehler and Anthony Taglione respectively, combined their talents (and their initials) to open the first Lair's stores selling country gifts, furniture and accessories in Upper Arlington and Worthington. Then in 1987, the Buehlers' daughter Joanie and son-in-law Scott Schoenfeld became business partners and owners of the company. Today the family has three stores located in the Columbus, Upper Arlington and Powell areas. The Schoenfelds insist that you'll receive friendly service, award-winning personal attention and customized gift suggestions for any occasion while receiving a great experience every time you walk through their stores. Each store offers a large selection of greeting cards to remember important people in your life, and a wide variety of merchandise for gift giving.
Webinar: 2012 Pension Plan Preview
This short webinar will help companies prepare for upcoming pension plan contributions. Record low interest rate environments are not making things pretty in the pension plan world and regulations limit your options. However, there are a few planning ideas to consider. Get a preview of 2012, hear arguments for and against employer contributions, learn more about risk mitigation strategies and benefits and risks of moving from traditional asset relocation to liability investing. Matt Klein, Managing Consultant, and Steve Parsons, Principal, of Conway Center Service Provider Findley Davies will share their thoughts on the future and planning ideas relative to pension plans. Register here for the free 30-minute webinar on November 16, 2011 from 10:00-10:30 a.m. EST.
Government Regulation: Can you keep up?
The Pension Protection Act has created a web of new paperwork, compliance regulations and increased fiduciary liability for employers and human resource professionals. As of January 1, 2012 companies will be required to be in full compliance. Are you ready? Whether you are a business owner or a human resource professional you won't want to miss this compelling Q & A session on compliance and fiduciary responsibility. Join William F. Hutter, Chief Executive Officer of Conway Center Service Provider Sequent and a foremost leader on the subject as he answers your questions and provides insight into changing government regulations and how it affects you and your business during a webinar on November 16, from 1:30-3:00 p.m., EST. Register here for this invaluable session. The cost is free for the first 15 registrants and then $29.99 per registrant.
Calling All Daughters in Family Businesses
A doctorate of psychology student, completing her dissertation at Chestnut Hill College in Philadelphia, is conducting a survey of daughters working in family businesses to get a better understanding of how the family relationship impacts their experience working in the family business. If you would like to help out, are at least 22 years old, working in your family business in a professional capacity, and from the second generation or later, please visit www.womeninfamilybusiness.com by December 31st to learn more about the research project and complete the anonymous survey. She will share the results of her findings with the Center when the project is complete.
Interesting Reading for Family Businesses
Carfagna's celebrating 75th anniversary
Owner happy with small winery
BusinessWise: Plan for family succession
When your parents pay your salary
How to ensure your business continues to thrive after your retirement
Family Business Transition Planning
After a century, family-owned firm looks to the future
Many family business owners considering selling
Family Business - The Next Generation
Finding 'success' in family business succession
Identifying a Successor for Your Family-Owned Business
Connect With Us
Conway Center for Family Business
J. Richard Emens
Membership in the Conway Center for Family Business is open to all family businesses in Central Ohio.
For more information on the benefits of membership, visit: familybusinesscenter.com