Rooted In Ethics, Hard Work
PHOTO/EDD COTE
F.W. Madigan Company Inc. • 367 Chandler St., Worcester
Pictured, from left to right, are: Jim Madigan, vice president and treasurer;
Francis W. “Bud” Madigan, chairman; and Fran Madigan, president..
(Family Business Awards Honoree | Category: 25-74 full-time employees)
Fran and Jim Madigan may be eight years apart in age, but their "yin and yang" come together into strong leadership as co-owners of their family's business, F.W. Madigan Co. Inc., observers have told them. The Worcester construction firm is now entering its 75th year with the third generation of Madigans at the helm.
"Our roles (in the company) don't really cross over," said Fran, but dovetail. "We've found a way to leverage each other's talents," said Jim. Along with a team of 27 full-time employees, "our extended family," Jim said, everyone has a stake in making sure the company succeeds.
LAYING THE FOUNDATION
The company was founded in 1937 by their grandfather, Francis W. Madigan, who had worked as a resident engineer on the Quabbin Reservoir. The firm built the Auburn Public Library, Worcester's Immaculate Conception Church and additions to St. John's High School in Shrewsbury.
Growing up, Fran and Jim Madigan's father, 81-year-old Francis (Bud) Madigan Jr. — who eventually took over the company — led by example, especially when it came to ethical business practices. "It was basically 'Treat others the way you want to be treated,'" said Jim. "When it came to things like training estimators or hiring subcontractors, there was always that ethical piece. It's a big component of what we do."
Reinforcing the moral message in a broader way, they both said, was the strict upbringing their parents provided them and their four sisters: Kathy, Mary Fran, Margaret and Ellen. All attended Catholic schools.
Both brothers knew early on that hey would go into the family business. And their father made sure they started in the trenches — literally. As high schoolers, Fran and Jim did dirty, sweaty laborers' work on a site in Woodstock, Conn., and on other projects.
With both brothers starting from the ground up, it may have been a way to earn respect from employees. But it's also given them a lot of respect for the work of bricklayers, carpenters, laborers and supervisors, Fran said. And they understand that there's a stereotype when it comes to family businesses. "We didn't grow up with silver spoons," said Jim.
Fran's son, Brendan, now works on sites when his school schedule allows. Another son, Andrew, is pursuing an engineering career. Jim's sons are still too young to choose career paths. It's possible all could comprise the fourth generation of Madigans to run the company.
"We're cautious that their perception is to learn from the bottom," said Jim, just as they did, and their father before them.
The firm has since shifted its focus to private contract work. Private work, said Fran, isn't just a case of the low bidder getting the job, as with public contracts. "It gives us a chance to show the owner the value of using us," said Jim.
Now located on Chandler Street in Worcester, and with annual revenue of $15 million to $25 million, the company's largest client is Genesis Healthcare. Recent work includes the addition to Ceres Bistro at the Beechwood Hotel in Worcester, the Wagner Mercedes auto dealership in Shrewsbury and a computer center at Assumption College.
Fran predicts the construction industry won't completely bounce back from the 2008 financial meltdown for another year or so. But the company has kept working steadily due to a backlog of projects, and really didn't feel the slowdown until early 2011. Owners weren't building and architects weren't being hired, Jim said.
But there can be benefits to even negative economic trends.
"We began thinking ahead and getting ready for an upturn," said Fran. Jim calls it a retooling phase of F.W. Madigan Co., complete with efficiency upgrades — adding new software and instituting best management practices, for example.
Meanwhile, the company is active in groups like the Family Business Institute — a consulting entity based in North Carolina; the Better Business Bureau; and Associated General Contractors of Massachusetts. It also supports many charities, including the American Red Cross.
And, in honor of its 75th year, the firm offers a scholarship to a high school senior with an interest in construction.
Succession planning is also being discussed. "The fourth generation is on our doorstep," said Jim. "You blink an eye, and we've been in charge for 15 years."
WBJ Web Partners
Most Recent
Most Recent
0 Comments