Beverage Dynamics

Beverage Dynamics Jan-Feb 2016

Beverage Dynamics is the largest national business magazine devoted exclusively to the needs of off-premise beverage alcohol retailers, from single liquor stores to big box chains, through coverage of the latest trends in wine, beer and spirits.

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Page 26 of 71

Small businesses rarely survive the second year, never mind the second generation. For the businesses that do last, it's often diffi cult to keep the business in the family (and the family members in the business). But success stories do exist – and are more common in beverage alcohol retailing than many other industries. In the following pages, we've profi led four retailers and one supplier that are all in at least their third generation of family control. They serve as models for businesses just starting out and those going through transition. They've experienced family infi ghting and the temptation of selling, and know how to manage spouses, siblings, parents, children and grandparents all working together under one roof. These companies measure success in decades and generations, not by quarterly earnings and short-term growth. Their longevity, consistency and family relationships are what make the beverage alcohol industry strong and resilient. IN THIS SECTION 29 … Brown-Forman: A VISION OF PERPETUITY 34 … 34 … 34 Hi-Time: TOAST OF THE TOWN 38 … Liquor Barn: A FATHER AND SON OPERATION 40 … Peco's: A FAMILY HEIRLOOM 42 … Buster's: ALL IN THE FAMILY

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