As with any family, there are the relatives we’re born with and those we choose. Who doesn’t have an unofficially adopted (but much beloved) aunt, uncle, cousin or grandparent? In business, these relationships grow from working partnerships, mutually beneficial mentoring, community building efforts and networking. The Thurston Economic Development Council (EDC) and their Center for Business & Innovation (CBI) work around the clock to help companies thrive today and well into the future.
Globally, 90% of businesses are family-owned and within the United States they constitute 64% of our gross domestic product (GDP). But only 40% turn into second generation businesses, 13% to third generation and only 3% beyond that. Locally, there are two thriving multi-generational businesses that prove lasting success can be handed down as a sustainable, impactful legacy.
Hometown Property Management: Every Father’s Dream
Andrew Barkis, also a representative for Washington’s second legislative district, started Hometown Property Management in 1998. It’s now one of only 50 property management companies in the U.S. to hold Certified Residential Management Company (CRMC) designation. With a portfolio of nearly 1,000 homes under their care, they’ve grown and expanded alongside Western Washington’s families and small businesses.
Barkis and his wife – who has worked with the team for the last 15 years – have two grown sons and are working to pass the business down. “Every father’s dream is to have your kids work with you,” Barkis says, and that dream is slowly coming true. Both boys worked for their dad over summer break for many years. Son Evan is still in college, but son Cameron was officially hired four years ago. He started in an entry-level property evaluator position but moved up the ranks to general manager. Today Cameron handles day-to-day operations, sales and community outreach.
“The experience of working here opened their eyes,” says Barkis. Cameron looked at many different jobs, Barkis explains, “but once he started working in the business, he could see how it all worked and how well we’ve done. Now he’s invested in the company and wants to see where this goes. The beautiful thing is that he has a fresh perspective, being from a younger and more technical generation. Over the last year, he’s implemented new technology, and we can see how they’ve benefited efficiencies and time has been maximized.”
July 1, 2024, was Hometown Property Management’s first anniversary in their new Lacey location. But their work family includes plenty of members who’ve been around for decades…including other couples and families. With a burgeoning succession plan in place, Barkis is excited for the family’s “great, unique opportunity to continue, grow and keep serving people.”
Harbor Foods Group: Serving Main Street, Not Wall Street
Justin Erickson, CEO of Harbor Foods Group, says the family business has been a staple in his life “since I could walk and carry things.” He was officially hired as an employee at age 16 for the company founded by his grandfather Carl V. Erickson in 1923.
Starting a business then, especially as a Swede newly settled in Aberdeen, wasn’t easy for Grandfather Carl. “But as a child of 12 brothers and sisters and an immigrant he was used to working hard to live each day,” says Justin Erickson. “Carl instilled a similar work ethic in his children and that didn’t stop through the generations. The Ericksons have always treated their employees like family and ensured that as the company thrived, so did the team members.”
Today, Erickson credits the company’s growth to one simple fact. “Harbor’s generational success is the result of remaining focused on taking care of the business first, namely our customers and team members,” he says.
To address this, Harbor keeps the primary focus on hard work. “For decades we had a policy that didn’t allow family members to own stock unless they were employed in an active role in the company,” says Erickson. “Only family members with the passion, drive and skills to work in the business were allowed to be shareholders. This ultimately allowed us to grow through four generations while keeping the number of family owners manageable. We’ve since shifted our governance model to allow for family members not employed by the business to own stock, while appointing a formal board of directors to help oversee the leadership of the business.”
At the end of the day, says Erickson, it’s all about family. He believes family-owned companies are built to serve Main Street and not Wall Street. “We don’t have to be beholden to quarterly results and shareholders who aren’t in touch with the business,” he says, “We can make the right long-term decisions for our valuable team members and customers.” Erickson has two children about to become fifth generation employees and his cousin has two children currently on the Harbor team.
In honor of the company’s 2023 centennial, they hired Pulitzer nominated author Russ Banham to create the Harbor Foods history book. In addition, CFO Jim Winkle and family friend Eric Foley restored a replica of the 1934 Dodge Panel Truck that was used to deliver butter, eggs, and cheese back in the day. They proudly display the Butter Truck at industry events and team member gatherings.
Thurston Economic Development Council: Building Growth and Vibrancy Across the Region
Thurston EDC Executive Director Michael Cade is proud of these local success stories. “Thurston County boasts an impressive array of generational businesses that are pivotal in driving our local economy forward,” says Cade. “These enterprises span a diverse range of sectors, including manufacturing, food services, real estate, professional financial services, and software development, just to name a few. Many of these businesses have roots stretching back to the early 20th century, playing a crucial role in our community’s growth and the sustained vibrancy of our economy.”
“Our goal with the EDC and the CBI is to ensure that all businesses in Thurston County have access to strategic planning and support,” says Cade, “including the tools needed to create a generational business. As we continue to explore opportunities that impact our economy, I want to thank my father for instilling in me the importance of service. I now recognize that Thurston County’s economy is unique, with a deep roster of multi-generational legacy companies guided by cherished advisors who provide lessons and encourage leadership, consistency, community service and business excellence.” And that’s how you build a strong, healthy future.
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