On May 25, 2018, The French Oil Mill Machinery Co. entered our 119th year of business.
A question we often hear is, “What’s the secret to your organization’s longevity?” Our answer – we have kept our business in the family and stay true to the values which we were established.
Remaining under family ownership and management since 1900 has given us the advantage of a strong corporate culture, lasting values and continued innovation that allows us to grow in our industries.
The values that we were founded on by Alfred Willard French, Sr., can still be felt in our office today, including his commitment to quality, dedicated employees, customer service, innovation and hard work. In fact, his desk still sits in our front office with original letters and client testimonials dating back to 1899. These artifacts bring to life the stories of our founding member and are a constant reminder to always stay true to our principles.
Growing under family ownership throughout the years is something of which we are extremely proud. Adding family values, loyalty, pride, cohesiveness, meaning and all other strengths of a family to business ownership and management seems to provide sustenance not available to other enterprises.
Studies show that family businesses have fewer turnovers annually (9% at family-owned firms vs. 11% at non-family firms), the tenure of leadership in a family-owned firm is four to five times longer than that of non-family firms and family-owned firms are more likely to promote from within and invest in their people.
By keeping The French Oil Mill Machinery Co. under family ownership, we are one of the 2% of U.S. companies founded in 1900 that have survived and are still owned by descendants of the founding family today. Our commitment to leading the next generation allows us to embrace strategies that put customers and employees first and emphasize social responsibility, rather than worry about internal issues that take away from our productivity.
In 2018, we continue to grow and expand as a family-owned business. Our current Chairman of the Board and Chief Executive Officer, Daniel P. French, is the third generation French to operate the business. Daniel’s daughter, Tayte French Lutz, is our Director of Marketing and serves on our company’s Management Team. She and her brother, Peter French, both sit on the company’s Board of Directors, representing the fourth generation of French heritage in our organization’s leadership.
In the tradition of our founder, The French Oil Mill Machinery Company continues to be an innovator in our industries, and with our family standing amongst us, we look forward to the coming years in business.
For more information on how French Oil can provide custom solutions for your business, contact us.