Prairie Family Business Association hosted their one-day Family Business Forum at University of Mary in Bismarck. Over 70 family business owners and advisors joined together for the day to network and engage in conversations regarding the succession of locally owned family businesses to future generations. Those in attendance traveled from across North Dakota, South Dakota and Minnesota.
Spotlighted at the event this year, as family business success stories, were that of Culvers and locally owned Steffes LLC. Craig Culver, Co-Founder of Culver’s Restaurant, shared his passion for the hospitality business and the growth of his company with those in attendance. Culver shared the ups and downs of starting a new restaurant and the challenges they faced upon making the decision to franchise. His story was an inspiration and reassurance that all family businesses face similar challenges! Paul Steffes highlighted the growth of his company and the importance of constantly innovating. As the economy and industries change, business must change with it to stay relevant.
Throughout the day, attendees heard personal accounts of leaving a legacy, managing change in the business and the challenges of family communication. Advisors were able to share concrete examples and advice on how families can overcome challenges, work through conflicts and maintain a successful business into their future generations.