Family, Fortune & Success: These 6 Family Owned Businesses Are Crushing It

Running a family-owned business is a deeply rooted tradition in the United States. In the early days, many settlers established small family farms, shops, and trades that were passed down through generations.

The Industrial Revolution in the late 19th and early 20th centuries marked a significant shift for family-owned businesses. Technological advancements in transportation and production led to the growth of manufacturing enterprises. Many family businesses expanded their operations, moving from small-scale local businesses to larger, more complex organizations. This era saw the rise of prominent family-owned companies such as Ford Motor Company, founded by Henry Ford in 1903, which revolutionized the automotive industry.

Today, family-owned businesses represent a substantial portion of the U.S. economy, accounting for 87% of all business tax returns, with approximately 32.4 million such enterprises. These family firms contribute 54% of the private sector GDP, amounting to $7.7 trillion, and employ 59% of the private sector workforce.

Family-owned businesses are not subject to the same profit-driven pressures as publicly traded companies. Investors in these businesses are generally more patient regarding earnings, profits, and repayment timelines. Families often choose to reinvest profits back into the business to support long-term growth, rather than prioritizing short-term financial gains.

Here are a few examples of successful family-owned businesses.

Turning Challenges into Opportunities: The Jack and Jill’s House Experience

In 2008, Melissa Gillaspy and her husband, Jacob, founded Jack and Jill’s House Preschool in Ellensburg, Washington. They transformed a charming building into a nurturing environment for young children. Over the years, the preschool has provided quality education to more than 500 students through its academic programs and summer nature camps.

Everything was going smoothly until the spring of 2020, when the world was hit by the COVID-19 pandemic. Like many others, Jack and Jill’s House had to close its doors in March, leaving Melissa and her family facing an uncertain future. The financial strain was immense, and Melissa worried about how she could continue to support her community of families.

Determined to find a solution, Melissa reached out to Liz Jamieson, a certified business advisor with the Cle Elum Small Business Development Center, in the fall of 2020. With Liz’s guidance, Melissa came up with a brilliant idea: Jack and Jill’s Kits 4 Kids.

“I have received so much valuable help from the SBA by working with the SBDC on so many levels,” Gillaspy said. “There are so many challenges when you run a business and learn new things. The opportunity to speak with someone with the experience and the resources to help is a powerful asset for any small business.”

These themed learning kits were designed to provide educational materials to children who were now learning from home. In August 2020, the first batch of kits was released, and to Melissa’s delight, they sold out in just 48 hours. It was clear that she had found a way to help her community while also keeping her business afloat.

By October 2020, Jack and Jill’s House Preschool reopened at 25% capacity, operating two days a week. To compensate for lost income, Melissa organized themed preschool summer camps and sold learning kits at local markets. With guidance from her SBDC advisor, she focused on financial planning, inventory management, social media presence, and e-commerce capabilities. Liz Jamieson provided essential support, helping Melissa navigate wholesale purchasing, sales tax, and cash flow planning.

By fall 2021, the preschool’s attendance was nearing pre-pandemic levels. Melissa continued to sell learning kits and planned to launch an e-commerce website to reach more families. The learning kit business grew, with Melissa’s family working together to assemble the kits. Her children took on roles in product design, testing, and quality control, making it a true family-run operation.

On May 3, 2023, Jack and Jill’s House was honored as the SBA Seattle District Rural Small Business of the Year at a celebration recognizing all 2023 award winners.

Innovative Solutions in Community Healthcare: The ACTS Pharmacy Journey

In September 2018, Wilbur and Jazel Jane Bautista, a powerhouse husband-and-wife duo, launched ACTS Pharmacy in Tacoma, Washington. With Wilbur’s expertise as a medical technologist and Jazel’s passion as a pharmacist, they set out to create something bigger than just a pharmacy—they built a healthcare hub dedicated to personalized, top-tier service.

Fueled by their desire for a better work-life balance and a deep commitment to their community, ACTS Pharmacy quickly became a go-to destination for more than just prescriptions. From lab tests and immunizations to a full-service travel clinic, HIV PrEP, and medical compression socks, they redefined what a local pharmacy could offer.

For the first two years, ACTS Pharmacy thrived. Wilbur and Jazel enjoyed the freedom of running their own business and the satisfaction of making a difference in their community. However, in 2020, the COVID-19 pandemic brought unforeseen challenges. With a significant drop in in-person foot traffic, the couple faced the daunting task of keeping their business afloat. They knew they had to innovate to survive.

With financial support from the SBA’s Paycheck Protection Program (PPP) and COVID Economic Injury Disaster Loan (EIDL) program, Wilbur and Jazel were able to retain their employees and adapt their business model.

They began offering delivery services for prescription medications and essential supplies like hand sanitizers, thermometers, and locally-made masks. Anticipating the rollout of the COVID-19 vaccine, they collaborated with the Tacoma-Pierce County Health Department to establish ACTS Pharmacy as a vaccine clinic, providing both in-person and mobile vaccination services.

Throughout the pandemic, Wilbur and Jazel recognized the growing opportunities to serve their community and the need for strong management skills to run a successful small business. They sought further education to enhance their capabilities as business owners.

In 2022, Wilbur and Jazel enrolled in the SBA’s T.H.R.I.V.E. program, an executive-level training series designed to help small business owners accelerate their growth through targeted training, mentoring, peer-to-peer learning, and self-paced instruction. During this six-month program, they focused on enhancing their employee management and hiring practices and creating a multi-year strategic growth plan.

They were also introduced to the Washington Small Business Development Center (SBDC), an SBA resource partner that provides small business advising, workshops, and training for entrepreneurs at all stages. Wilbur and Jazel continue to meet with their SBDC advisor monthly, working on developing best practices for bookkeeping and financial forecasts for the next three to five years.

“After participating in this course, we are constantly reminding ourselves to work on our business rather than just work in our business,” Wilbur Bautista said. “We are developing procedures and standards that help us manage the day-to-day business and empower our team members.”

ACTS Pharmacy had grown from one initial employee to a team of three full-time staff members. The business was actively building relationships with local colleges, elementary schools, doctors’ offices, and county agencies to provide unique services not found elsewhere. Wilbur and Jazel also offered advice and guidance to colleagues interested in starting their own independent pharmacies.

Building Legacy Brick by Brick: The Story of CDI

Commercial Drywall, Inc (CDI) has been a prominent union specialty subcontractor in the Greater Metro Area for over 30 years. Their expertise includes heavy gauge metal framing, insulation, plaster, fireproofing, and drywall services. CDI is known for its quality workmanship and has completed numerous projects across the Twin Cities, including commercial structures, schools, business expansions, and remodels. A tradition of safety and reliability has earned them numerous supplier and business partners.

Heather Hoffman and Andrew Leach, the current leaders of CDI, have deep roots in the company. Their fathers were part of the original CDI team—one as the founder and the other as an employee. Heather, now the President of CDI, worked alongside her father for 16 years, helping to grow the family business. Andrew, the Vice President of Estimating, always knew he wanted to work in construction and spent his summers as a laborer at CDI. After earning an associate degree in architectural drafting and estimating from Dunwoody College, he returned to CDI as an estimator and project manager. In 2019, Heather and Andrew took the helm of CDI, continuing the family legacy.

The transition of ownership in 2019 was followed by significant challenges. In March 2020, just three months after the transfer, CDI founder James Leach passed away unexpectedly. Heather and Andrew also had to navigate the disruptions caused by the COVID-19 pandemic. With support from the U.S. Small Business Administration, they overcame these challenges and succeeded as second-generation business owners.

Heather graduated from the 2021 SBA Emerging Leaders Program and is actively involved with the Twin-Cities SCORE chapter. CDI received pandemic relief financing through the Paycheck Protection Program (PPP) and a COVID EIDL loan. In 2023, they secured a 504 loan from Falcon National Bank to upgrade their new office space, which included a complete remodel to modernize the building and bring it up to ADA compliance. This has provided CDI with a comfortable and efficient workspace.

CDI has continued to grow and achieve significant milestones. In 2023, they were named Minnesota’s Family-Owned Small Business of the Year by the U.S. Small Business Administration. This recognition highlights their commitment to quality, safety, and reliability in the construction industry.

CDI has been involved in several notable projects recently. They completed the Minneapolis American Indian Center as a top trade partner with Loeffler Construction in May 2024. Additionally, CDI finished the White Bear Lake High School project ahead of schedule in September 2024. These projects demonstrate their ability to handle complex and large-scale structures.

CDI is committed to innovation in construction. They have adopted LEAN construction practices, such as panelized wall units and pre-fabricated components, to enhance efficiency. CDI also utilizes advanced technologies like the HILTI EXO-01 wearable exoskeleton to improve worker safety and productivity.

Since taking over in 2019, Heather and Andrew have doubled the value of work performed by CDI. They continue to focus on quality, employee engagement, and customer satisfaction while expanding their services and market sectors. The strategic addition of Powersource Construction allows CDI to manage 100% of their projects for interiors and remodeling clients, providing stability in the cyclical construction industry. CDI is committed to offering well-paying, skilled jobs for those willing to learn a valuable trade.

Heather and Andrew are deeply invested in the success of CDI, taking pride in their advancements and honoring the legacy of Jim Leach. They strive to drive change to meet the future needs of the business while keeping the voice of the past in mind.

From Humble Beginnings to HVAC Leaders: The Cole Air Conditioning & Appliances

Cole Air Conditioning & Appliances, Co. was founded in 1967 by Joel and Janie Cole as a family business. Over the years, Judy Cole McPherson and Michael “Mo” Morrison joined the operations, continuing the commitment and involvement initiated by their parents as a “Mom & Pop” store.

In early 1998, with just one location serving Athens, Tyler, and Corsicana, Texas, they utilized resources from the Small Business Development Center (SBDC), including attending workshops to explore business growth strategies. Today, Cole Air Conditioning & Appliance has expanded to four locations: Athens, Corsicana, Tyler, and Forney, Texas.

From a start-up with one employee, they have grown to 35 employees and 26 trucks, making them the largest team of installers and technicians in the area. Their growth is attributed to their expertise and quality service, along with a strong commitment to employee training and certifications, which reflects their credibility and pursuit of excellence.

Cole Air Conditioning & Appliance Co. has consistently grown at an approximate rate of 5% annually, except during years of challenging nationwide economic conditions. Their wide array of services for both residential and commercial HVAC systems on existing and new construction projects has driven sales, along with expanding their service areas to surrounding counties.

The owners of Cole Air Conditioning & Appliance are actively involved in local organizations, demonstrating their commitment to supporting the local economy. Community involvement through monetary donations and volunteering is a core belief in their family business. The company makes annual contributions in addition to the private efforts of the owners.

Three Generations of Excellence: The Agway of Cape Cod

Agway of Cape Cod is a third-generation, family-owned business with three retail locations in Orleans, South Dennis, and Chatham. Since 1993, Agway of Cape Cod has been a one-stop shopping destination, offering farm and feed supplies, lawn and garden products, pet supplies, landscaping materials, home décor, gifts, apparel, and other home goods through their stores and e-commerce website.

As Agway of Cape Cod celebrates 30 years of business excellence this year, its current owners, Josh Wile and Jessica Thomas, are dedicated to fostering a dynamic and inclusive workplace.

“Every day, we strive to achieve the highest standards in supporting our employees, sourcing responsible products, and embracing innovative technologies. This growth mindset has been crucial to our family business’s ongoing success, and we are deeply grateful to those who have supported us along the way,” said Co-Owners Josh Wile and Jessica Thomas.

The pandemic presented unforeseen challenges, but Agway of Cape Cod adapted and persevered with assistance from the Small Business Administration. In 2017, the business secured an SBA 504 loan with New England Certified Development Corporation and third-party lender Cape Cod 5, facilitating the purchase of a local warehouse. This warehouse became essential for storing their expanding inventory of mulch, soil, and other hard goods, including outdoor furniture.

In June 2020, at the height of the pandemic, an Economic Injury Disaster Loan helped sustain Agway of Cape Cod as they transitioned to curbside-only shopping to comply with regulations. Remarkably, from 2018 to 2021, Agway saw a significant 43% increase in net sales, with the average annualized employee count rising from 90 employees in 2018 to 113 employees in 2022.

In 2016, Josh and Jessica established The Agway of Cape Cod Charitable Foundation, with the mission to support local nonprofit organizations that enrich the lives of Cape Cod’s people and animals. Beneficiaries include the Lower Cape Outreach Council, Heroes in Transition, Animal Rescue League of Boston, The Family Pantry, numerous local plant and animal organizations, and local clubs and sports teams. Josh currently serves on the board of Nauset Youth Alliance, and Jessica serves as VP of the board for Friends of Brewster Dog Park.

As Agway of Cape Cod marks 30 years in business, it stands as a testament to family values, community engagement, and dedication to serving Cape Cod.

Stuart Stein – ESCO Manufacturing & Stein Sign Display

Founded by Clint Stein in 1965, ESCO Manufacturing has been producing high-quality signs for retail companies across the United States and internationally. Mark Stein, Clint’s son, owned and operated the business from 1980 to 2020, continuing the family legacy.

In 2000, ESCO Manufacturing expanded from their original 65,000 sq-ft facility to an additional 25,000 sq-ft channel letter manufacturing facility in Webster, SD. This expansion allowed them to increase production capacity and meet growing demand.

In 2020, Stuart Stein, Mark’s son and Clint’s grandson, took over operations as the new Owner and President. Having grown up around the family business, Stuart gained experience in various departments over the years. His journey included working outside the family business to gain real-world experience, with roles at Wells Fargo and Sharp Automotive. Stuart formally joined ESCO in 2014, just one month after Clint’s passing, and later purchased the company on February 4, 2020.

Employing over 100 dedicated people, ESCO Manufacturing is committed to building the best signs in the industry. With over five decades of sign knowledge and experience, they are known for professional craftsmanship and quality signs. Their third-generation family-owned business has been located in the heart of the Midwest since 1965.

ESCO Manufacturing is dedicated to meeting the sign industry’s demands for competitive pricing, quality products, and insightful customer service. Stuart Stein, the third-generation owner, has been married to his wife, Crystal Stein, for 15 years. Together, they have four children: twin 7-year-olds, a 9-year-old, and an 11-year-old. Stuart graduated from Watertown High School in 2001 and Augustana University in Sioux Falls, SD in 2005 with a degree in business management.

Encouraged by his father, Mark Stein, to seek employment outside the family business, Stuart gained valuable experience before returning to ESCO. He enjoys golf, working out, obstacle course racing, spending time with his wife, and attending his children’s activities. Stuart has served on the local school board for 8 years and plays bass guitar in his church’s praise team band.