Boulevard Home recently purchased a 25,000-square-foot retail building in Mesquite (NV) and is excited to announce its expansion to serve the Southern Nevada community. The new building is at 1165 W Pioneer Blvd. It is just off I-15 and next to the existing Boulevard Home location. NAI Vegas’ Jon Walter assisted in the real-estate transaction.
Boulevard Home will soon be renovating the building. They plan to move in the spring of 2021. Their mesquite reasons showroom will be doubled, allowing them to offer a wider range to their growing customer base.
Marc Wittwer, CEO, of Blvd Home, answered a question about the expansion. He said that he loved the Mesquite community. Blvd Home has experienced a significant growth in Mesquite over the years. Our original location was 10,000 square feet on Mesquite Blvd. We are committed to customer service before, during and after sales. This new showroom will enable us to better serve customers.”
NAI Vegas’ Jon Walter commented that “Many retailers across the nation are closing down stores and downsizing their operations.” Blvd Home’s expansion demonstrates their unwavering faith in Mesquite and their commitment to their loyal customers. Marc Wittwer and his team at Blvd Home are not just great businessmen, but also great people who care deeply about the people they serve and the communities in which they live.
Marc added, “We really appreciate Jon Walter & NAI Vegas for helping us with the purchase of our new Blvd home location. They were a pleasure to work with. They contacted us right away when the building became available and continued to work hard for many months to complete the transaction.
Wittwer Hospitality/Boulevard Home
In 1948, Lester Wittwer and Vanola Wittwer founded the Wittwer Motel in Las Vegas. After many years, the couple relocated their family to Southwestern Utah where they had been raised. The Wittwer Motor Lodge was opened in St. George, Utah by the couple in 1955. This is where the family business is today. The Wittwer Motor Lodge is now the Best Western Travel Inn.
Royden, Tony and Mel Vanola, Lester’s four children, joined the company and helped it grow. Wittwer Hospitality is still developing hotels and providing management services for other hotel owners. There are currently nine hotels in total, and others under construction.
Boulevard Home, a furniture retailer, was added to the company in 1974. Boulevard Home currently has three locations: a clearance center, consignment and flooring shops. A property management division is also part of the family business.
Six children were born to each of the second-generation brothers. The G2 brothers had equal ownership and equally paid salaries. Although the ownership of 24 G3 cousins is mostly equal, this is starting to change. Nine cousins work for the family business.
The Wittwers are taking steps to address the problems that can arise when a large family owns a small company. There are currently 75 G4s. The fourth generation is yet to own a G4
In 2005, the Wittwer Family Council was established because of the need to review the family’s employment policy. Families had questions about salaries and hiring decisions, while the younger G3s were worried that they wouldn’t have the opportunity to work in the family business. Family members wanted to make sure they had a pool of qualified applicants. They also feared that family members might be expecting to hold positions they are not qualified for.
The Wittwer policy was based on the family council’s borrowing of employment policies from other families. The policy was drafted by a member of the family council. With board approval, the policy was included to the family constitution.
A policy was also developed by the family to pay family members who work in business. Now, compensation is based on job tasks, fair market value, and job performance.
Family employment and the compensation policies have led to a significant decrease in family employment concerns. Families are looking for quality education and work experience outside the home improvement. Those who return to their family businesses after having gained this experience are more qualified for their jobs.
The Wittwer family constitution contains core values/guiding principles, family council Bylaws and policies that cover a wide variety of family and business situations.
The board is made up of seven members, five members from the family and two independent members. Family directors are chosen through an application-and-interview process; non-family directors are chosen by a Nomination and Selection Committee.
The family began paying annual dividends in 2004 to family shareholders. The family members are encouraged to attend the annual family assembly meeting where the checks are distributed. The checks and transparency are appreciated by family members. They are more concerned about the company’s performance, and they recognize the advantages of being a business owner. The meetings have a greater meaning because of the increased attendance at family assembly meetings.
In 2010, the family launched a stock buyback program. The amount that will be offered is set annually with a discount. If more than one person wishes to sell back shares, a policy was established to evenly divide the amount. Stock buybacks can help family members grow their businesses, pay off student debt, lower their debt, and even buy home based business.
To oversee the distribution of dividends and family company’s incentive plans and other high-level, complex issues, a Compensation and Continuity Committee has been established. This plan includes cash incentives as well as profit sharing. It is open to both family members and non-family members. The 2012 phantom stock plan was opened to executives and family leaders. The incentive plans are partly why skilled family executives choose to stay in the family business or return to it.