Champion's Unique History
Did you know that most family businesses don't continue beyond the second generation?
According to the Family Business Center, "The average lifespan of a family-owned business is 24 years. About 40% of US family-owned businesses transition into a second generation business, approximately 13% are passed down successfully to a third generation, while 3% survive to a fourth or beyond."
Champion has defied these odds and is successfully operating as a sixth generation family business.
Of course there have been challenges along the way— it has been 123 years after all. We have experienced financial challenges, illness, family conflict— just like most other families and businesses.
How did we get beyond those obstacles and continue to grow our business?
Well firstly, I believe that conflict can be a good thing. For example, is the new generation pushing the older generation to evolve and keep up with a a changing business landscape? That can be extremely beneficial.
Another important thing is to not operate with an ego.
You will often find my Father, The President of Champion checking an order in the warehouse before the order goes out the door. We are all not afraid to roll up our sleeves, get our hands dirty and pitch in when needed.
Not having an ego goes hand in hand with being open to asking for help. Hiring smart, passionate people, who can help you accomplish things you may not have time to focus on, or are not an expert in, is something that we feel strongly about. We are so proud of the team we have built at Champion.
-Allison Frey, Marketing Manager