Streets Spotlight on Family Businesses
When business is a family affair
FAMILY businesses are the back bone of the economy. Streets has a long-standing tradition of looking after multigenerational family businesses.
Founded in 1907, Streets shares many of the excellent values associated with running a family business and understands the challenges faced in managing and growing a business from one generation to the next. We also recognise the need to balance the often-unique qualities associated with running a family business with the growing commercial challenges of an everchanging world.
We are delighted to be showcasing some of our family business clients, who are all multi-generational concerns - some have also been looked after by Streets for a number of generations.
DENBY TRANSPORT
Denby Transport Ltd was founded by Bill Denby in 1926 during the General Strike with no railways and farmers needing to get milk to the dairy in Lincoln. Bill's son, Dick, led its expansion into international work from 1960 and this has been a cornerstone of the business for 40 years.
Dick's son Peter, the current Managing Director took over in 1996 and this year his daughter, Emma, became the fourth generation to join Denby Lincoln after a successful career in digital marketing in London. The business is diverse with many different activities from international haulage to contract warehousing, training, provision of lifting equipment and specialist machinery installation and removals. Family members make up most of the Board with Peter also joined by sister Caroline as well as Emma. It also has Nina Metcalfe as Financial Director and George Elliott as the Director of Special Projects.
Peter said: "Over the years the business has experienced many different trading environments from oil shocks to recession and more recently covid and Brexit. "This is in our company DNA - we expect these things to happen and we run the business in a financially conservative way to enable us to survive these shocks. I think the decision-making process in a family business is much easier and, in our case, we can make and implement decisions immediately. This makes us more responsive and agile, especially in challenging times. The business has come a long way from the days when my grandfather started with a Model 'T' Ford one ton lorry with solid tyres and oil lamps! I think he would be amazed to see the improvements in technology- vehicles can now carry a payload of 29 tonnes and they can be tracked by satellite. However, the basics remain the same, looking after staff and customers. I have always regarded myself as the custodian of the family business with a responsibility to improve it and hand it down to the next generation in a strong condition. During the last fifteen years we have been supported by Streets and in particular Partner Mark Bradshaw who has helped us to achieve our goals and plot the course of the business:'
WILD JACKS
With a history of family business experience, Stuart and Joanna Hancock founded Wild Jacks in August 2020.
It supplies retailers, food service and catering establishments with food and drink produce, primarily sourced from Lincolnshire. The couple and their team, share a passion for the fantastic food and drink produced in the county.
The couple acquired the popular Navenby Odling's Butchers, a third-generation family business in a move that sees Roy Odling playing a key day-to-day role. The business has welcomed into its fold the third-generation Welbourne's Bakery and Welbourne's Wine & Deli with Pete Welbourne a non-executive adviser. With a quest for the best in bakery, Wild Jacks' added J H Starbucks to its portfolio with Richard Starbuck, a fourth-generation family member still involved.
Responding to the pandemic the business offered home delivery to customers and expanded the range available from its mobile shop. This was well received by the local community with a range of products from all its aquisitions. Co-founder Stuart Hancock commented:"As a family-owned business, Wild Jacks is able to consider our consumers point of view in terms of their needs and key factors affecting purchases so that we are able to adapt and change our business model.
"We are involved on a day-to-day basis to ensure that we meet our customers' needs and both Joanna and I roll up our sleeves and dig in - from serving in the store to picking products for Christmas orders - it's all in a day's work:' He added:"I have been involved with Streets in a professional capacity for some time now and I can honestly say that the support we receive from Partner Chris Hubbard and his team is second to none. Our business is expanding rapidly and so our activities are dynamic. Chris keeps in touch with me on a regular basis to ensure he has the latest information."
JACKSONS WORKWEAR RENTAL
Founded in 1791 by James Jackson, the laundry business, which supplies and rents workwear garments to industry, is headed by Alistair Mackinder, Chairman, fifth generation family member and direct descendant of James.
The company provides garments on a contract basis that it washes, repairs, collects and delivers to and from customers' premises across a range of industries, including food processors, pharmaceutical, engineering, manufacturing, ceramics and chemicals.
Alistair's son William is now an apprentice within the business and the team includes multi-generational family members, with Michael Wilson as Managing Director and his daughter Rebecca as Sales and Marketing Manager.
Twenty of the staff, over a quarter of the workforce, are related to at least one other member of the team. The wider Board includes non-family members - Steve Pearce is Operations Director and Ed Eckhard is Financial Director and Company Secretary. Michael said all employees were seen as extended family:"We are aware of everyone's home circumstances and through the pandemic considered this when making decisions that affected them.
When we had 'a spell of absenteeism through the pandemic, we had employees' extended family members joining us ad hoc to ensure our customers were never
let down:' Michael added:"While running a business and doing what we're good at, it is nice to have a partner keeping an eye on changes that are happening in the outside world that may affect our thinking.
"Streets have been our accountants for at least the last 50 years, and we trust them implicitly. With all the changes the government were making on almost a daily basis through the pandemic, Streets Partner Robin Lee and his team's input was vital in helping us manage our way through the minefield of adjustments we had to make to ensure as the situation finishes, we continue to be as successful as when it all started:'
PENNELLS GARDEN CENTRES
Pennel is is one of the oldest garden companies in the country - perhaps the oldest still in the same family ownership. Founded by Richard Pennell in 1780., the company is run by the seventh and eighth generations Richard Pennell and his son William Pennell with other family members including Julie Pennell and James Pennell also involved.
From the early days as a nursery the business has adapted to the changing world and the needs of customers with three retail garden centres in Lincoln, Cleethorpes and Sleaford. A wide range of garden and house plants, tools and equipment are sold, but an enhanced retail experience is provided through food, clothing, books, soft furnishings and on-site restaurants with Christmas lights, decorations and gifts a speciality. Garden centres were able to remain open during lockdown and Pennells responded to customer needs with a home delivery service and a growing on line presence for local customers and also those much further afield.
Richard said:"Family businesses, in contrast to more corporate businesses, tend to have a much longer-term attitude to the management and development of the business. We tend to be less driven by short term results - an approach which often means we are better placed or more prepared to weather adverse circumstances like a pandemic. Streets, and in particular Partner Robin Lee and his team, have continued to be very supportive over the last few years as we have faced various challenges including the pandemic, as well as providing guidance and help with the further development of the business:'
For further information on how Streets can help your family business, contact James Pinchbeck, Partner at Streets on 01522 551 200 - Visit streetsweb.co.uk