Rosemary McCoy

Three generations look inside South Dakota’s oldest homegrown accounting firm

PFBA, Q&A /

*Part two of a series of stories about Prairie Family Business Association founding members in celebration of our 30th anniversary. Nelson & Nelson CPAS knows something about longevity. As the state’s oldest homegrown accounting firm, founded by James Nelson in 1923, it’s now in its fourth generation and includes clients from 32 states and multiple […]

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Building boom means business boom for longtime family companies

PFBA, Success Stories /

What would be the worst-case scenario? In 2020, the leaders of Hamlin Building Center asked that question. “We put it on paper,” said Joe Homola, manager of the business with locations in Brookings and Lake Norden. “What would it look like to shut down? Not close the business but pause it.” It was the beginning

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Nationally honored family business moves into new generation as one owner buys out seven siblings

PFBA, Q&A /

*Part one of a series of stories about Prairie Family Business Association founding members in celebration of our 30th anniversary. As an 8-year-old, Bill Shorma remembers shining shoes in the basement of a clothing store where his father owned a shoe repair shop. He didn’t realize it at the time, but he was learning business

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Family-owned Reptile Gardens turns pandemic changes into permanent successes

Member News, PFBA /

If you thought the COVID-19 pandemic threw a curveball your way, try managing through it with 1,000 animals – including 200 species and subspecies of reptiles. That was the scenario faced at Reptile Gardens, the family-owned Rapid City attraction that dates back to 1937. “We always open the first Saturday in March, and last year

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Fourth-generation family business builds on tradition of quality home furnishings, flooring

PFBA, Q&A /

Since 1925, the name Tollefson’s has come to be associated with a reputation for excellence in the home furnishings and flooring business. Based in Minot, N.D., this fourth-generation family business does a lot of things right. Tollefson’s Retail Group operates as Slumberland Furniture, Tollefson’s Carpetland, Carpet Garage Flooring Center and Tollefson’s Contract Flooring, with locations

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In a place where pheasants flourish, families find clarity for their businesses’ futures

Member News, PFBA /

For years, family businesses from South Dakota and beyond have come to the Paul Nelson Farm, where a beautiful setting serves as the backdrop for some tough conversations. The exceptional lodge in Gettysburg — a family business itself — hosts five to seven families through the Prairie Family Business Association each August. This year’s retreat

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How does a century-old business decide to sell? This leader will tell you

PFBA /

If you’ve ever had your eyes examined, you’ve had an up-close look at the product that launched a family business success story. Eric Allyn’s great-grandfather William invented the ophthalmoscope in 1915 in upstate New York. More than a century later, the medical device that examines eyes and its sister product, the otoscope, still bear the

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Top-rated speaker offers path to ‘you on your best day’

PFBA, Q&A /

In business, every day is showtime. But is your performance hitting the mark? Michael Allosso is the No. 1-rated speaker for Vistage International, the world’s largest CEO-enrichment organization, bringing his 25-plus years as one of the nation’s preeminent communications and self-awareness specialists. He has worked with CEOs, marketing executives, managers, sales teams, attorneys and many

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When it’s time to sell the family business – including to family – keep tax strategy in mind

PFBA, Q&A /

Sell your business – or part of it – to family and avoid taxes. Does it sound like a potential path for you? Then you’ll want to draw on Andrew Knutson’s expertise at the upcoming annual conference of the Prairie Family Business Association. Knutson is the owner and managing attorney at Thompson Law PLLC in

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