A unique asset: transitioning the soul of the business across generations

Watch the Beaches, a fourth generation family who owns and operates Basin Harbour Club in Vermont, USA, reflect upon what makes a family business different from its competitors. Family members who hold history in their business are often embedded in the day-to-day operations of the business, and their spirit is visible to their consumers. The ability to transfer this entrepreneurial spirit across generations is a distinguishing element of family business.

Bob Beach Jr.: We are not a corporation. We are a family owned and operated, independent summer resort, and as global information has made travel so accessible, there is a huge level of competition. And what can separate us is the personal experience of coming here. Ann Penfield “Pennie” Beach: In a sense, we are the business, and so the business is us. I do not think that guests would feel the same if we were not greeting them at the door, you know. We have a lot of guests who come back year after year. Bob Beach Jr.: I was gone for a couple of days. I was told by some guests that they missed me at our welcome reception for them, and had not seen me in a couple of days and wondered where I was, and it was no surprise to me, but yet certainly noticed when we are not here. Robert Beach: Pennie and Bob are dedicated to the property. And they want to maintain it and be competitive and not change the atmosphere that prevails here. Jocelyn Vandal: The weight of the Beach Family, this is what you are working for basically, and it is a philosophy. It is really a vision that stayed in the family. Brian Goodyear: Basin Harbor is very traditional, and that is the reason that we are successful with our families, it is because you are going to see Pennie at B1, at the table greeting those guests just the way that their parents had done that prior to that. They are the faces that our returning guests want to see. Robert Beach: There is a spirit of loyalty that we have with so many of the guest who come back year after year. Bob Beach Jr.: We have a very close relationship with them, and I think that makes a difference to a lot of people, that you are on a first name basis with your guests. 
And that is hard to beat. Brian Goodyear: Sometimes I do not know if Bob and Pennie understand how important they are to the company. Maybe not necessarily form the managerial side of things, but from the soul of the company. Ann Penfield “Pennie” Beach: It is really important to maintain that family connection. I cannot imagine that any corporate entity would come in here and really be dedicated to making it work. So I would like to think that it is important for the family to be here.