CORPORATE CITIZENS
Local Family Firms Succeed Despite the Odds; Share Advice for Success
usinesses help make up the fabric of any local community, and Local Matters will regularly bring light to how public corporations and private enterprises each connect themselves to their cutomers and neighbors here in Stamford, Darien, New Canaan, and Norwalk. Conventional business school wisdom cites 70 percent of family businesses failing to survive into the second generation, and 90 percent fail to make it into the third generation. A few of the standout local family firms share some key advice that has helped them succeed. Third and fourth generation Stewarts: Bailey
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Rex Marine Center
Norwalk, since 1936 Rex Boating Club, boat docks and storage, used boat sales, Ship’s Store, and service department. V.P. and general manager Bill Gardella Jr.’s advice to any business transitioning between generations. Have a crystal clear succession plan where the hard decisions are not left to heirs. Be there to guide and mentor, but realize it is valuable for younger folk to learn from mistakes. Whether you are the founder or an heir, when you’re through learning you’re through.
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Stew Leonard’s
Fresh food stores and wine stores in Norwalk, Danbury, Newington, CT and Yonkers, NY. First store in Norwalk opened 1969. Company president Stew Leonard Jr. says the best advice his father, the founder, gave him includes: A farmer’s shadow is the best fertilizer. Before you make Stew Leonard’s a great place to shop, you have to make it a great place to work. The big don’t eat the small, the fast eat the slow.
Stewart, president, left, with Alex Stewart, general manager. (Contributed photo.)
Walter Stewart’s Market
New Canaan grocery and spirits stores. Currently celebrating 100 years in town. Advice from founder Walter Stewart to grandson and current company president, Bailey Stewart. Never let a customer leave the store dissatisfied. Treat your staff with respect and they will serve your customers better.
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CORPORATE CITIZENS
Tips for Success in Family Business
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Grade A/Shop Rite Markets
Seven supermarkets throughout Fairfield County. Originated on Shippan Avenue in Stamford. Dominic, Rocky and Sam Cingari learned the following from their father Salvatore, who founded the company in 1943. Work hard. Learn from your mistakes. Be in the store(s) interact-
Palmer’s Market
Darien specialty grocery store since 1921. Cindy Palmer Dean, fourth generation Palmer, on the most important advice for family businesses.
Third generation Palmers, Al Palmer, left, with brothers Rocco, second from right and Joe, right, with fourth generation Greg Palmer, second from left and Cindy Palmer Dean, who are now helping to run the family business. (Contributed photo.)
Have a succession Darien Sport Shop plan. The real prob- Apparel and sports specialty store lem with family busi- for men, women and children. nesses is family. Owner Steve Zangrillo, who When you have founded his store in 1946, speaks uncles dealing with of how a second generation cousins, nieces and should think before trying to take nephews it gets over a family business. complicated. Lay out Be honest with yourself. Do you requirements for really have the desire, and is this what Third generation Cingari family members stand behind entering and leaving you really want to do? Know that second generation Cingaris as managers and owners of the business, com- either you have the ability to do the Grade A / ShopRite supermarkets. Left to right, Chip, pensation, dealing job or you don’t. And don’t kid yourSam, Tom, Rocky, and Joe. (Contributed photo.) with a family member self. Be sure you know if the business who is not fitting in, dealing with the (the market) is there or it isn’t. ing with your customers. Provide “entitled” child… the highest quality in your products. –Greg Reilly Treat your associates as if they were family, and manage each store as if it were the only one. 1,100 Darien - New Canaan families earn under $50,000
FACTS & FIGURES
# of Families < $50,000 income 514 584
Bob’s Sports
New Canaan specialty apparel and sporting goods since 1937. Rob Mallozzi III, third generation co-owner, on advice he received from his father and uncle. Know your customer and don’t try to be all things to all people. Get involved in your community.
Darien New Canaan
% of family Households 9% 11% % of family Households 13% 17%
8,000 Norwalk - Stamford families earn more than $150,000
# of Families > $150,000 income Norwalk Stamford 2,900 5,186
Source: U.S. Census 2000
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MAY 2007