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America's Oldest Family Businesses
Collated by 'The Family Business School'
How does one measure success in a family business? Do you measure it the same way as in a non-family owned business, that is, by looking at the company's annual sales or its profit margin? Yes, that's one way to gauge a successful family business.
Or do you look at the test of time and the fact that the family business has lived on and touched the lives of several generations? For many family businesses, this is the true measure of success.
If you agree with the latter, then the following is your list of the most successful family businesses in the US. They are the family businesses that have been around the longest and have benefited so many generations.
1. Zildjian Cymbal Co.
The Zildjian Cymbal Co. was founded in Constantinople 14 generations ago in 1623. Its founder was Avedis, the same alchemist who invented the cymbals after he had discovered a durable and powerful metal alloy that was surprisingly very musical. His invention helped make Constantinople a lively and musical place and, in return, the sultan dubbed him with the name “Zildjian,” Armenian for cymbalsmith.
The Zildjian Cymbal Co. made it to the USA in 1929, specifically in Norwell, Massachusetts, and it was a timely arrival at that. Now headed by Avedis Zildjian III, the company forged ties with many of the rising jazz drummers of the time and forged a place for itself in America’s swinging music scene. Soon after arriving in the US, the company built its own modern factory under the stewardship of Avedis III’s son, Armand.
The company has made a successful transition into the new millennium and boasts of its own Web site (www.zildjian.com). It is currently headed by Armand’s two daughters, Craigie and Debbie, who are the company’s CEO and vice-president for human resources, respectively. The two daughters are the first-ever women to sit at the company’s helm in its long history.
2. Tuttle Farm
While the Zildjian Cymbal Co. has its roots in Constantinople, the Tuttle Turtle Farm in Dover, New Hampshire, was founded in the US some time between 1635 and 1638. It was founded by Englishman John Tuttle, who was shipwrecked near Maine in 1635 before arriving in Dover.
The farm covers 240 acres and grows strawberries and vegetables. Tuttle Farm is currently managed by Evan Hourihan, who represents the 12th generation to run this family business.
3. Shirley Plantation
Founded by Sir Thomas West in Charles City, Virginia in 1613, the Shirley Plantation is the oldest plantation in Virginia. From 1613-1952, the plantation concentrated on cultivating tobacco and grain. It was purchased by Edward Hill in 1638 and has stayed in the Hill/Carter family ever since.
The Carter side of the family entered the picture in 1723, when Edward’s great-granddaughter, Elizabeth, married John Carter. In 1952, the plantation was turned into a tourist attraction by Charles Hill Carter Jr., its 10th generation owner. Beginning in 1998, the Shirley Plantation became a favorite venue for weddings and corporate events.
It is now managed by the children of Charles, the 11th generation to operate the business. Its Web site is www.shirleyplantation.com.
4. Barker Farm
Not much is known about the history of Barker Farm except that it was founded in North Andover, Massachusetts in 1642. The farm specializes in apples and dairy products. Its reported revenues were between $250,000 to $500,000 in 2003. The farm is now owned by the 11th generation of Barkers. It has only one full-time employee and six employees during peak seasons.
5. Miller Farm
The Miller farm was established in Frederica, Delaware in 1684. It specializes in timber and agriculture products. Reported revenues were $50 to $60 per acre in 2003. At present, the ninth generation of Millers owns the farm but has leased it to a local farmer.