&Company

est.

2018

January 24, 2025

The Future of Family Business: Why Livable Wages and a Stronger Community Go Hand-in-Hand

Posted in: Family

As a family-owned business, we’ve learned a lot along the way. Neither Dustin nor I (Margee) grew up in small-business-owning families, so diving into entrepreneurship was an entirely new experience for us. However, one thing we’ve always known is this: businesses are built on the people who work for them. Over the years, we’ve worked for businesses—both small and large—that didn’t value their employees, and it left us frustrated. In many cases, we saw owners prioritize profits over the well-being of their team, and that’s something we just couldn’t accept.

We’ve always believed that when businesses treat their employees like family, everyone benefits. That’s why from the very beginning, we made the decision to run our business differently—by paying livable wages, offering meaningful benefits, and creating a work environment that reflects our respect and commitment to the people who make our success possible.

This isn’t just about doing the right thing for our team—it’s about building a future where companies value their people, support their communities, and help create long-term, sustainable growth. We’re proud to be leading by example and hope to inspire other businesses—big and small—to do the same.

Why Livable Wages Matter

In Michigan, the state sets a minimum wage that many businesses adhere to. However, the cost of living, especially in urban and suburban areas, has far outpaced the standard minimum wage. For a family to thrive, it’s not enough to just offer “a paycheck”—you need to offer something that allows your employees to live with dignity and security. That’s where the concept of livable wages comes into play.

We’re proud to say that we’ve made it a priority to offer wages that reflect the needs of our team, far above the state minimum. Our general staff earns $30 per hour, and our bartending crew earns $20 per hour plus tips. This commitment isn’t just about being generous; it’s about recognizing the value each team member brings to our business and ensuring they have the financial security they deserve.

You can see Michigan’s current livable wage calculator on the state website, which outlines what it takes to truly live comfortably in different areas of the state. We believe that paying livable wages isn’t just good for employees—it’s good for the business, too.

What if More Companies Did This?

Imagine if more companies—big and small—took a similar approach. Think about the impact on the community if businesses offered:

Livable wages that employees can actually build their lives on
Health care options that protect their well-being without breaking the bank
IRA contributions that help them save for their future
Generous bonuses that make them feel valued and motivated

The ripple effect would be incredible.

When companies show that they truly care about their employees’ well-being—treating them like family—staff will naturally respond with loyalty, passion, and dedication. They won’t just be employees working for a paycheck. They’ll be invested in the success of the company, as they see their own lives improving along with the growth of the business.

Employees who feel respected, valued, and well-compensated will go the extra mile. They’ll take ownership of their work. They’ll contribute ideas. They’ll bring their best selves to the job every single day. That’s not just good for business—it’s great for the community, too.

The Power of Consistency

For us, it’s not about a quick fix or a temporary trend. We believe in the power of time and consistency. Yes, our family business is small right now, but we have big dreams. As we continue to invest in our team—offering them more than just a paycheck, but a real partnership—we’re confident that our brand will grow and expand. And as we grow, we will keep these values at the heart of our business model.

But we also know that change takes time. Our business is just one small player in a much bigger ecosystem. We’ve seen firsthand how many companies prioritize profits over people. Too often, we’ve worked for businesses that paid the bare minimum while the owners raked in the rewards, all while ignoring the well-being of their staff. We’ve watched as these same owners expanded, opening new locations, only to continue offering peanuts to the people doing the real work on the ground.

This kind of business model is unsustainable. It’s not just unfair; it’s a system that ultimately harms everyone involved—employees, customers, and the community. The truth is, if businesses want to be successful, they need to realize that investing in their people is one of the most important things they can do.

Leading by Example

We’ve learned through experience that treating people with dignity and respect is the key to long-term success. That’s why we’re proud to take the first steps in showing that paying livable wages, offering health benefits, and providing retirement options isn’t just a nice idea—it’s smart business.

It’s important to note that some business owners worry about the “crunch” of higher wages. But here’s the thing: If companies start paying their staff an adequate living wage right from the beginning, they won’t feel that financial strain. Employees will be used to receiving these funds, and they’ll work harder, stay longer, and contribute more. There’s no reason to be stingy. A good business owner knows that by treating their employees well, the return on investment is real and measurable. Year after year, a well-compensated, motivated workforce will lead to greater growth and success.

Our hope is that other businesses will see the positive impact this approach can have—not just on their bottom line, but on their community as well. Every business, no matter how small, has the ability to make a difference. And it only takes one company to begin carving a new path. Once others see the benefits of treating their employees with respect, they’ll follow suit.

A Real-Life Example: The Power of Livable Wages and Smart Investments

Let’s put this into perspective with numbers. As of February 21st, Michigan’s minimum wage will increase to $12.48 per hour. Now, imagine if your business offered $30 per hour instead—that’s a difference of $17.52 per hour. Over the course of a year, that difference becomes significant.

Now, imagine if that $17.52 per hour—the extra money employees earn—was invested in something like the S&P 500. Here’s what the numbers could look like:

Inflation-Adjusted Price Return: 24.91%
Annualized: 24.85%
Investment Grew To: $21.88 for every dollar invested

These are inflation-adjusted returns, so you can see how the money you’re putting aside is working to grow your wealth over time. The point is that the difference between earning a minimum wage and a livable wage can add up to a very healthy savings fund. If that extra money is invested wisely—say, through a Roth IRA—the returns can be even better, especially if the employee doesn’t touch it until they’re 59.5 years old, allowing their money to compound over decades.

Now, just to be clear—we are not financial advisors. What we’re offering here is simply a scenario to consider. This is how a livable wage, when paired with smart investments, can have a significant impact on someone’s financial future. Play with the numbers yourself by typing them into this calculator.

This is the kind of financial freedom and growth we want for our team. We encourage our staff to have these kinds of conversations, not just with us, but with their families and friends. Many people simply don’t know where to look for financial guidance, and that’s where businesses like ours can play a role in helping. We’ve partnered with Cole at Thrivent—a trusted financial advisor who works closely with us—to help our team members develop personalized financial plans.

We believe it’s important that our people don’t constantly worry about their finances or their future. Instead, we want them to feel confident, secure, and excited to watch their money grow. By investing in your staff, offering livable wages, and encouraging long-term financial planning, businesses like ours can help create a future where everyone thrives—not just today, but for years to come.

Small Steps, Big Impact

The change we’re advocating for may seem small, but it has the potential for a massive impact. When businesses begin to treat their staff like family, invest in their futures, and ensure their needs are met, we’ll see stronger communities, healthier families, and more successful businesses.

We’re proud to be a part of this shift. We hope other family-owned businesses will join us in leading by example. Together, we can create a more sustainable and supportive future for everyone in our industry and beyond.

And, charitable donations. We are so proud to be able to give a little back to a good handful of local non-profits that we have partnered with—more on this in a future blog post. We all at HIVE strive to be the best versions of ourselves we possibly can be, and it’s our belief that giving back to the community is one of the most meaningful ways we can do that.

It’s time to put people before profits—and together, we can build a stronger, healthier, and more prosperous future for all.