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Category:
Published: February 2008
John V. Bove tells us how a small feed and coal business grew into a largely successful fuel company, why it is so important for them to keep that neighborhood business image, and the joys and challenges of being the third generation in a family business.
Success Magazine: G.A. Bove Fuels has been in business for over 70 years. How did it get started?
John V. Bove: My grandfather, Gennaro Anthony Bove, started this business with the help of Mr. Anthony Tancredi, who became his business partner. Mr. Tancredi was a very successful man who owned a diner and a market right around the corner at the time. He recognized that my grandfather was very sincere and hard working, and wanted to be in business with him.
SM: Much has changed since the 1930s, particularly in terms of heat sources. In what ways have the changing times influenced your business?
JVB: Well, originally, the place that my grandfather bought was a Feed and Coal business. Feed was discontinued right away; we started selling fuel oil and kerosene in 1937, and then propane in 1955. If not for the support of the Liporace family and the Blue Flame Gas Company in Hoosick Falls, we would not be where we are today. In addition to those residential products, we now sell all gasoline and diesel fuel grades, including Biodiesel. We also have a full heating and air conditioning service and installation department.
SM: In an ever-changing society, what aspects of the business have remained consistent for over 70 years?
JVB: The customers. People still expect us to service them as promptly as possible. We offer a lot of the bells and whistles that other full service companies offer (auto delivery, budget plans, prepay plans, fixed pricing, service contracts, online payments). All that is great, but what a customer really needs and expects is prompt service. Our customers know we will be there quickly and that they dont have to worry if they need a service call at 9:00 on a Saturday night. We have our cell phones on 24 hours a day and are in contact with our service and deliverymen to fix any problem ASAP.
SM: Were you all raised in this work environment from an early age, or was learning the business a decision you made later down the road?
JVB: Yes, that is exactly how we were raised. My uncle and my father went to work with my grandfather when they were old enough. My cousins and I did the same with our grandfather and our fathers. When we were growing up, a school vacation or a snow day meant that we would be working or helping out in some way.
SM: What is the most challenging aspect of running a family owned company?
JVB: The family dynamic. I can honestly say that I have never had a boss in my life. Since I am the youngest, I had to answer to my grandfather, my uncle, my dad, and my cousins. I think there is a huge difference between being told what to do by a family member as opposed to a boss. That being said, there are four Boves here now, each focusing on different aspects at different times. It makes for some lively discussions.
SM: Three generations have had an active role in this company. Do you think this will continue to be the trend with future generations?
JVB: Sadly no. My cousin Frank does not have any children. My sons are 10 and almost 2. You never know, but things are not the way they were 20 years ago. We are not as hands on as we used to be. We are here everyday, but it is a much bigger operation than it was when I was 10. When I was young, I could tell you exactly what my father did. I really dont think my oldest son knows. To him I sit behind a desk and talk to people all day. I think as time goes on you do lose some of your original identity.
SM: Gennaro obviously laid a strong foundation for your success. How will you pave the way for the success of generations to come?
JVB: I will try to teach the same fundamentals and certainties that my grandfather, my dad and my uncle have taught me. Work hard- the daily grind is what can make or break you. Be accountable- when we make a mistake (and we do) fix it quickly, apologize and adjust so it wont happen again. Be fair- offer as much as possible for the price you charge.
SM: How do you define Success?
JVB: In business I would say longevity and reputation. When an elderly customer says, I remember when your grandfather used to deliver or Your dad used to charge me $.29 per gallon or Your cousins and uncle were in my cellar at 2:00 am on a frigid winter night in the 70s and they are still with us after all of those years nothing is more successful than that.
SM: What elements set you apart from your competitors?
JVB: Accountability. Fuel is fuel and cost is cost. But if there is a service problem with your furnace or boiler, you have run out of fuel, or there is a billing issue, we believe we will fix it or clear up the situation as fast as humanly possible.
SM: Being a part of a family run business, do you find it difficult to achieve a healthy balance between work and your personal life?
JVB: Yes, absolutely. There are four of us here though, so if somebody has something to do, we have coverage. We have a great team to handle things when we are not able to be here. Plus with cell phones, computers, and faxes etc. we can stay in contact with everyone. The other side is that you are on 24 hours a day, 7 days a week; in the mall, at the movies, out to dinner people see you and talk to you about business, prices, service etc. When I was younger that frustrated me. Now I feel good about it. We are approachable and that is the way it should be.
SM: What qualities do each of you bring individually to G.A. Bove Fuels?
JVB: Well, we are definitely different people. My dad, uncle and cousin are much more technical than I am. They can fix anything. They were the ones out on the road earning the customers trust, face to face. I am more on the numbers side the dollars and cents guy. I deal with the bankers, accountants, and customer financial matters.
SM: What was the most important thing that Gennaro taught you about running a business?
JVB: The Tortoise And The Hare fable. He told me this story all the time. I, of course, wanted to be the hare- go fast and win the race. He always said it was better to be the tortoise. In the end the tortoise won. I always asked why he didnt charge more. He would say, It is better to make a little consistently over time, than make a lot quickly and maybe lose your customers over time. This is the essence of G.A. Bove Fuels. Slow and steady. We have gained customers every year since I started tracking this, over 20 years ago. Poppy was right the tortoise wins.
SM: You have kept the neighborhood business image, even though you have expanded throughout numerous counties. How are you able to maintain that image?
JVB: We are here everyday and we are accountable. You can call our company, and actually speak to one of us. Our name is on the building, on the trucks and on the letterhead. My uncle Frank is 78 years old, and he still comes in just about everyday. Up until a few years ago my father was still on just about every install. It was not uncommon to see him digging a trench with the guys, or a hole for the tank. The customer sees this and realizes that Bove it is not just a name on the truck.
SM: As fuel trends change, how do you prepare for such changes?
JVB: They change constantly. I work diligently at knowing the trends, gathering as much information as I can from our suppliers and commodity analysts. That being said, sometimes they are wrong and the markets do a reverse. I believe the answer is to stay on top of the information constantly.
SM: Do you have plans for expansion?
JVB: Yes, at the present time we are looking to put an office and bulk plant in the Glens Falls / Lake George area. This would enable us to more efficiently take care of our northern customers and hopefully enter some new markets. We are also actively looking at possible acquisitions in the region.
SM: What do you hope for the future of G.A. Bove Fuels?
JVB: That the future is much like the past. We hope that we can continue to provide great service at a fair price and that we can expand without changing what and who we are.
SM: Is there a sense of responsibility in being a new generation in this business that you wouldnt have in a solo entrepreneurial venture? How do you handle the expectations that are brought upon you from former generations?
JVB: In my mind there is a huge sense of responsibility. This is our life. It is not just a business. My uncle used to tell me that the first generation starts it, the second generation builds it and the third generation destroys it I have thought about that statement every day of my life. My cousin Frank and I will not let that happen to G.A. Bove Fuels.
SM: What is the best thing about being a family in business together?
JVB: The best thing is that we are all here working together. We can rely on each other in different situations. Every day when something comes up, I still ask myself, What would Poppy think? Even though he passed away in 1989, I still rely on his wisdom. We are each others support network.
SM: You believe in strong customer service. To truly provide this, you must hire the best people. How do you ensure that you not only get the best employees, but that you can keep them?
JVB: We believe in the mindset that they work with us, not for us. Find people with good character, equip them with the tools and knowledge to do a job, and then let them do their job. Value what they bring to the table and fairly compensate them. When you are doing well, share that with them. No smoke and mirrors. Treat them with respect, as you would want to be treated.
SM: What advice would you give to a new entrepreneur just starting out?
JVB: Work Hard. Be Honest. Be Fair. Be Real. And always remember that slow and steady wins the race.
No story about G.A. Bove Fuels history is complete without mentioning my cousin James Bove, who died unexpectedly in January of 1996. He was a huge part of our growth during the 80s and early 90s. He was extremely hard working and a man of his word. If he said he would be there on Tuesday he would be there, even if it meant making a delivery at 10:00 at night. He had an extremely outgoing personality and made each customer feel like an old friend within minutes. Jimmy we miss you.
I would also like to mention my aunt, Mary Bove, who is the matriarch of this whole operation. Over the years she has worked in the office, taking care of customers. On those cold winter nights in the 60s, 70s and 80s, she would stay up all night answering calls, or just waiting for the trucks to come in. She still makes homemade soup for the guys in the winter, to warm them up after a frigid day on the road. Her contributions through all of these years, though sometimes behind the scenes, have not gone unnoticed. Aunt Mary, Thank you.
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