Growing The Family Business

Growing The Family Business

Our conversation with the next generation of aftermarket distribution leaders.

In our second-annual look at family businesses in the aftermarket, this year we speak with several young aftermarket professionals stepping into leadership roles at their family owned businesses. 

According to Family Business Review, there are some impressive data points that illustrate the significant place family owned businesses hold in the U.S. economy and our culture as a whole today. For example:

• The tenure of leadership in a family enterprise is four to five times longer than their counterparts;

• Family enterprises generate 57% of the nation’s GDP;

• Family enterprises employ 63% of the U.S. workforce;

• 75% of all new jobs are generated by family businesses;

• 60% of all publicly held U.S. companies are family controlled; and

• 95% of family businesses engage in some form of philanthropy.

For this year’s feature exploring the dynamics of family run businesses in the aftermarket, we asked our participants for their take on the challenge of leading and preserving the culture and foundation their forefathers built while also having to address today’s rapidly changing workplace culture. All but one, remarkably, are the third and fourth generations to help run their companies. Regardless of their tenure in the marketplace, they all share one common thread: the desire to do right by their families and their employees, who oftentimes become one and the same. Read the full story in our August 2021 digital issue right here.

You May Also Like

APH Expands with Iowa Location

Kurt Croell’s Auto Parts store in New Hampton, Iowa, joined APH and now operates under the name Auto Value of New Hampton.

Auto-Parts-Headquarters-IOwa-

Kurt Croell's Auto Parts store in New Hampton, Iowa, has joined APH's network of independently-owned stores and will now operate under the name Auto Value of New Hampton. Originally established in 1956 as Western Auto, the business underwent several name changes over the years. Most recently, it was known as CARQUEST. In 2008, Kurt Croell took ownership of the store. Managed by Marv Eiler and Kevin Fisher, it has since become a staple in the New Hampton community, APH said.

Fenix Parts Acquires Pacific Rim Auto Parts

Pacific is a specialty automotive recycler focused on eCommerce part listings and sales.

Fenix Parts Acquires Pacific Rim Auto Parts
Advance Auto Parts Announces ‘National Battery Day’ Promo

DieHard battery giveaways and complimentary battery testing will be part of nationwide festivities held on Feb. 18.

Advance Auto Parts Announces Promo for National Battery Day
NPW Welcomes Automotive Installers Warehouse to Its Network

Automotive Installers Warehouse has been an NPW customer since 2013 and has merged with NPW as part of its ongoing expansion.

National Performance auto Parts Warehouse_
Automotive Parts Associates Welcomes Accel Auto Parts

Founded in 2023, Accel is the newest TruStar member of the APA family.

Automotive Parts Associates Welcomes Accel Auto Parts

Other Posts

Federated Upgrades Car Care Center Program

The enhanced program features updated signage, marketing support, image-enhancing tools, wearables, business management assistance and other information to help with day-to-day shop operations.

Federated Upgrades Car Care Center Program
Advance Auto Parts, Baker Mayfield Partner for Super Bowl

If there is a false start penalty during Sunday’s Big Game in Las Vegas, fans can win free DieHard batteries for life.

Auto-Wares Group Wins TCED Super Bowl Contest

As part of the grand prize, Auto-Wares winners will be accompanied by TCED President Elise Rozon.

TCED-Auto-Wares-Super-Bowl
NPW’s FAST Expo Comes to Life in Digital Format

The event shifted to a digital platform to connect vendors, retailers and technicians while offering exclusive discounts.

NPW-FAST-Expo-2024-digital