Golden Opportunities

Do you have any family problems? Come on now, be honest! Most folks don’t have perfect relationships with every one of their brothers, sisters, in-laws, nephews and nieces. Now, imagine having to work every day with those family members. Most family businesses fall apart due to family strains. Busch Funeral and Crematory Services is an exception. It’s celebrating its 100th anniversary as a family business, having survived four generations. Here to tell us the secrets of how to get along is Mark Busch and his father John Busch.

Question: Congratulations on your 100 th Anniversary. I understand there will be come celebrating this upcoming holiday weekend. (Mark)

Answer: Yes, on Sunday, July 3rd, we’ll be co-sponsoring a fireworks event at Weiss Field in Avon Lake . There are also other events happening around the holiday weekend and afterwards. You can call us for a full schedule.

Question: 100 years of a family business is impressive. How many generations did that entail? (John)

Answer: We’re currently in our fourth generation. The business was started in 1905 by Gustav Busch, who remained president until 1933.

• J. Milton Busch, president until 1961.
• John Busch, president until 1990.
• Current president is Jim Busch. Mark Busch is the current vice-president.

Question: What’s the secret to a successful family business?

Answer: You have to understand that there are three separate components: your family, the family business, and the business. And you have to be able to communicate and relate within those dynamics. I tell people with family businesses not to think twice about getting an outside advisor to help you mediate a business meeting.
We also have a rule not to talk business on family time/when over each other’s houses. At first, it seemed awkward, but now it’s one of the best things about the family. The business is thriving because of this decision, and we’ve been able to keep the business from impacting on our family relationships.

Question: I’m sure you’ve seen a lot of changes in your business throughout the years.

a.) John’s answer.

Mark: And things continue to change. Another funeral home in North Olmsted has been bought by an outside company. It’s more important than ever to make sure that you know the ownership of the funeral home and cemetery you are using. Make sure they are closely monitored for perpetual care funds, trust funds, and state regulations regarding prepayment. Make sure you are comfortable that the company will be able to perform its contract in the years to come. Receive a copy of all your contracts and make sure there’s an indication of which institution has hold of your pre-paid monies.

Question: John, you have four kids.  Jim and Mark are in the business, and two others aren't.  Does that create other issues?

Answer: Absolutely. Our business is no different than other family businesses. When some members work in the business, and others don’t, that creates a range of issues. How should the income be divided? If one family member isn’t involved in the business, should they be an owner? If not, are they getting less from the parents than other family members? It can get very complicated!

Can you imagine: 4 generations working closely together for 100 years? Even Ozzie and Harriet may not have been so happy if they had to work together. To help the Busch Family celebrate their major milestone, give a call.