The Resnick Wynn Family Business Conference once again features a who's who.
This year's keynote speaker: Jonathan Tisch, Co-Chairman of the Loews Corporation Board of Directors, Executive Chairman of the subsidiary Loews Hotels & Company, and Co-Owner of the New York Giants. He is his third generation leader of the family business (NYSE:L), which first went public in 1959.
The event will be held at the Cohen Student Union at Florida Gulf Coast University on February 29th from 9 a.m. to 2 p.m. Tickets are still on sale, but there are only a few left.
This year's theme is “Guiding family businesses through critical crossroads.”
Click here to learn more about upcoming conferences:
Who is behind this event?
The company was founded in 2022 by Billy and John Resnick, immigrants from Naples, and Michael Wynn, a Naples native and longtime business owner. The Wynn family has operated businesses in Southwest Florida since his 1930s.
Michael Wynn is Chairman and President. sunshine ace hardwareFounded by his grandfather in 1958. He also serves as chairman of his FGCU board of directors.
A few years ago, John Resnick organized a similar event at the Wharton School at the University of Pennsylvania, a private Ivy League research university.
What is your goal?
The event focuses on “helping family businesses thrive for generations.”
“They are the economic engine of our community,” said John Resnick, founder of the Resnick Group.
Attendees can learn best practices for survival from the speakers and from each other.
“This is really a place for them to network and learn from each other,” Resnick said. “I think that's one of the most positive aspects.”
Wynn said speakers were asked to “pull back the curtain” on their experiences, both good and bad, and share how they overcame hardships and challenges.
“They receive handouts, hear real-life experiences, and in some cases, step-by-step instructions that they can go back and implement in their own businesses,” he said. “It’s not just interesting storytelling.”
Who are the other speakers this year?
Featured speakers with ties to Southwest Florida include:
- Elise Lipman, CEO of Lipman Family Farms (Immokalee)
- Tim Cartwright, partner and co-founder of Fifth Avenue Family Office in Naples
- Russell Budd, founding partner of PBS Contractors in Naples
Other speakers include:
- Dennis T. Jaffe, Senior Researcher, BanyanGlobal Family Business Advisors, Boston, MA
- John Macchia Sr., Founder and Chairman of the Board, Advance Turning & Manufacturing Inc. (Jackson, Mississippi)
- Joseph Suresky, President and Dealer Principal, RI Suresky & Sons Inc., Goshen, New York
This will be the third time this event has been held.
The first year's keynote speaker was Steve Forbes, chairman and editor-in-chief of Forbes Media. He was followed by Alan Hassenfeld, former chairman and CEO of Hasbro.
Resnick said none of the keynote speakers have homes in Naples or Southwest Florida, so they come here for the conference.
“We weren't paying them,” he said, adding that all the speakers agreed to be here because they “wanted to help us.”
Although most participants are local, the event has also attracted business owners from six states, including New York, Michigan, and Minnesota, since its first year.
“We were actually surprised,” Resnick said of the draw.
Several FGCU students are invited each year for free.
Wynn said the hope is that through this conference, family-owned businesses, which generally contribute more money to the local economy and become more involved in the community, will remain in the area for as long as possible. Stated.
Regarding succession statistics, he stressed that the situation is “pretty dire.”
According to the Family Business Institute, only about 30% of American family-owned businesses survive into their second generation. This statistic drops to 12% in the 3rd generation, and 3% in the 4th generation and beyond.
“We are at an inflection point in baby boomer business,” Wynn said. “Many people retire, close their businesses, or sell their businesses to private equity roll-up firms without proper succession planning. If they are, we will be buying out these businesses. That could change the complexion and culture of the community.”
The U.S. Small Business Administration estimates that approximately 10 million baby boomer-owned businesses will change hands in the decade ending in 2029.
According to Forbes, baby boomers born between 1946 and 1964 make up about 40% of small business or franchise owners.
All proceeds from the regional conference will be donated to scholarships for FGCU students planning to join the family business. This year, 25 entrepreneurial students were invited to participate.
For more information or tickets, visit fgcu.edu/familybusinessconference/.
