Daughters moving in on corner office
Mike Hendricks – The Business Review
Up in Granville, Kathy juckett, the great-great granddaughter of the founder of Telescope Casual Furniture, is CEO of the 101 – year – old company. Down in Westerlo, Elaine Hannay Gruener, is vice president at Hannay Reels Inc., where her father, Roger Hannay, is president and CEO. And in Malta, Emily Bailey is bringing the company her father started 30 years ago into e-commerce.
More than ever, daughters are making an impact in family business.
A recent survey by the MassMutual Financial Group/ Raymond Institute of Family Businesses reported that women run 10% of today’s family firms, but that is changing. The survey found that the percentage of small company owners considering passing on control of the business to their daughters had gone from 25% to 34% in just six years.
That rise of daughters in business is evident locally.
Before Emily Bailey joined her parents at Racemark International Inc., the company made racing accessories and high end floor mats for automakers. SInce joining the company, Bailey has extended the family business into e-commerce with her subsidiary, GGBAILEY, and revolutionized the way the company markets its product, taking Racemark into places it has never been. Now the company has an e-commerce business, a Web store and sells directly to consumers.
Bailey has introduced color choices and created a product that allows customers to design personalized mats while implementing 48 hour shipments.
Bailey started out in public relations after college. She believes she has created buzz about the business, getting the product high-visibility media-attention, including a mention on the “Today” show and InStyle magazine.