Biltmore Estate Presents: The Business of Family Business

Biltmore Estate Presents: The Business of Family Business

Think running a family business is challenging? How about owning and operating an 8,000-acre property with a 250-room château, a winery, and a hotel in addition to licensing branded products on the side? That's what William A.V. Cecil, Jr. and his sister Diana Cecil Pickering oversee every day. The business is Biltmore Estate in Asheville, North Carolina, and it's the legacy of their great-grandfather, George W. Vanderbilt. Beginning in May 2005, Biltmore Estate will partner with internationally recognized experts in the field of family business, The Family Business Consulting Group, Inc. ®, of Atlanta, Georgia, to present a series of three-day workshops: Blueprints for Success: The Future of Your Family Business.

"My great-grandfather created Biltmore Estate in 1895, and over time, the property has dramatically expanded and entered into new ventures--including our wine and licensing businesses and the hotel industry," said Cecil, CEO and President. "As a fourth generation sibling team, my sister and I are facing many of the same challenges as other family-owned businesses and we see the need for advanced training to prepare for the future."

Pickering added, "With our team of experts--faculty consultants from The Family Business Consulting Group--we have the best resources in the field facilitating sessions designed to address the special interests and needs of family business owners. And with Biltmore Estate as our backdrop, we provide an ideal venue for families to learn and grow together as they prepare current and future family business owners for continued success."

From mastering business complexities to juggling family dynamics, owning and operating a family business can be a challenging experience. In Blueprints for Success, experts from The Family Business Consulting Group, Inc. ® (FBCG) present varied topics in interactive sessions focused on "the business of family business." Topic-based Biltmore Estate case studies are used throughout to spark discussion, to highlight "lessons learned" and to demonstrate how to: prepare families and businesses for successful generational transition; improve communication between family members and non-family management teams; strengthen strategic planning; and plan for succession and maintain momentum. As a special feature, Blueprints participants have the opportunity to meet one-on-one with FBGC faculty consultants for personalized planning sessions and for development of take-away action plans for their own businesses.

Biltmore Estate is a great example of a growing, family-owned business. Biltmore House was first opened to the public on March 15, 1930, at the request of the directors of the Asheville Chamber of Commerce in hopes it would attract tourism to Depression-era Asheville. The historic home did not become a serious business, however, until Vanderbilt's grandson, William A.V. Cecil, Sr., took over in the early 1960s--when the estate was losing $250,000 annually. Cecil turned the venture around, eventually handing over day-to-day operations when he named his son CEO in 1995. In 2003, The Biltmore Company became a $100 million company.

Biltmore Estate offers an ideal setting for Blueprints with an on-site hotel; a variety of successful businesses within The Biltmore Company providing insight; and a picturesque setting. With diverse seasonal activities and offerings, the property is a great place for families to come together, learn together and even relax together at the end of the day. Each workshop includes:

* Program faculty from The Family Business Consulting Group, Inc. ® (FBCG), and top university family business centers;

* One-on-one consultations with FBCG faculty including personalized planning sessions and development of initial take-away action plans for family