Business owners prepare to pass along ownership Submitted: 08/22/2013
Story By Shardaa Gray

Business owners prepare to pass along ownership
Photos By Shardaa Gray

RHINELANDER - Every community in the Northwoods wants their small businesses to grow.

In order for them to grow sometimes the business owner needs their children to take over the business.

The Rhinelander Chamber of Commerce wants those business owners to be prepared when the time comes.

The chamber held a Lunch and Learn session for owners today.

The session informed business owners of options to sell or transfer ownership of the business when the time comes.

Business owner Steve Ory plans for his son to take over Enterprise Wood Products in Rhinelander.

"I think this is good for the community to have somebody come in and talk to small businesses that wants to pass it along to their children," said Ory.

"The more tax and legal information you can have the better."

Sometimes the child of the business owner might not want to take over.

That's why it's important to have a back up plan.

"Be prepared. When we talk about assembling an advisory team, we talk about attorneys, business brokers to help you sell that business and a financial advisor," Morgan Stanley Wealth Management financial advisor, Tyler Krombholz.

"All these people have to work in concert to help this transition happen."

The chamber plans to have another lunch and learn session next month.

Text Size: + Increase | Decrease -
| Print Story | Email Story
Sponsored in part by HodagSports.com


ARBOR VITAE - An Arbor Vitae restaurant may be relatively new to the area, but regulars quickly started packing the place every Friday for fish fry.

Ron and Marlena Schisel opened Outback 51 about a year ago.

They say it was tough being the "newbies" at first, but their fish fry got people in the door from the start.

Bluegill is the favorite plate at this fish fry.

" Surprisingly we sell more bluegill more than any other fish. It is a Northwood's native fish, people want to see if it takes the fish that they have when they clean fish," says Ron.

Outback 51 serves fish fry Fridays starting at 11 a.m.

Click link below for more info.

+ Read More

Play Video

RHINELANDER - Just like many small community courthouses, Oneida County doesn't have any way of keeping guns out of the building.

In response, on Tuesday, the Oneida County Board approved a mandatory active shooter training session for all employees.

"You have to keep your eyes open," said Oneida County Human Resource Director Lisa Charbarneau.

Charbarneau has learned not everyone who walks into the Oneida County Courthouse has good intentions.

"We do deal with not so pleasant things, whether that be social services, removing children from homes, we have inmates in and out for issues in the court," said Charbarneau.

The courthouse has an open door policy with multiple entrances open to the public.

+ Read More

MADISON - A new report shows Wisconsin's unemployment rate hit a record low in February.

The state Department of Workforce Development released data Thursday that shows the unemployment rate dipped to 2.9 percent in February, down 0.2 percent from January to mark a record low. The previous record was 3 percent unemployment in July 1999.

+ Read More

Play Video

HARSHAW - Rhinelander charter school students mixed in math with science, social studies, and reading projects on Thursday.

Northwoods Community Elementary School hosted parents to show off their work. Some classes did the math to plot out a vegetable garden. Others did research on Wisconsin counties and planned a weeklong trip there.

"I added decimals to count up all my rates for my bills, all the admissions to state parks, and renting," explained Oceana Patulski, who did a project on Door County.

+ Read More
Lincoln Hills bill passesSubmitted: 03/22/2018

MADISON - The state Assembly has put the final stamp of approval on a plan to close Wisconsin's troubled youth prison.

The chamber passed an $80 million juvenile justice overhaul plan unanimously Thursday that calls for closing the prison outside Irma by 2021 and replacing it with smaller regional facilities. The measure now goes to Gov. Scott Walker.

+ Read More

Play Video

RHINELANDER - On Thursday night, two of three candidates made the case for why they should become Rhinelander's next mayor. A panel of media members, including Newswatch 12's own Ben Meyer, questioned the candidates for an hour, live on WXPR.

The two candidates at the forum argued between the power of a fresh perspective and a wealth of experience. 

+ Read More

Play Video

RHINELANDER - Golfers can't wait to get back on the course after our long, tiring winter.  We'll need to melt a lot more snow to make that happen, but on a Rhinelander-area lake this weekend, ice will be needed for golfing.

Fisher's Resort on Lake George will host the 13th-annual Ice Golf tournament Saturday.  Golfers shoot real golf balls on nine holes on the frozen lake.  The four-person scramble format costs $40 per team.

The event is one of the biggest fundraisers of the year for the Hodag Sno-Trails snowmobile club.

+ Read More
+ More General News

Click Here