Most Century Club companies (over 85%) are small, privately owned businesses. Many of these (over 60%) are generational family-owned. Today's post highlights two families who have sustained their businesses for over 200 years, though they did so in different ways.
G. Krug & Son, established 1810 in Baltimore, is our nation's oldest continuously operating blacksmith. Today, 5th generation Peter Krug continues to oversee production of a wide range of custom metalwork and restoration products. (The Krug family took over the business in 1871.) As their business has withstood the test of time, so states their mission: "to provide customers with ironwork that is beautiful, durable and represents a value that will stand the test of time." Currently, the company also runs the G. Krug & Son Ironworks Museum on the same property as the blacksmith business, committed to preserve and interpret the history of a functioning ironworks.
Another Maryland company, Loane Brothers, is a 6th generation business that began in 1815 as a sailmaker but has adapted over time. Today's Loane brothers (Bryan and Scott) make large tents and custom awnings and are party rental company, providing everything from chairs to china. They celebrate 205 years in business in 2020.
It takes a deliberate commitment by a family to maintain a business over such a stretch of time, balancing staying true to who you are while also adapting with the times.
No comments:
Post a Comment