Family Video Owner Keeps Family Business Growing

GLENVIEW, IL — With the disappearance of Blockbusters, other chains and all but a very few independent video stores, Glenview-based Family Video has managed to keep operating in more than 700 locations. The parent company of the video store chain, Highland Ventures, is invested in a variety of other businesses including a pizza company, gyms and others.

Current owner, Keith Hoogland, is a third-generation business owner described by Forbes as the "dominant player" in the market. His father Charles founded Family Video's predecessor, a subscription service called Video Movie Club, in Springfield in 1978. That business emerged from Midstates Appliances and Supply Company, which was founded by Keith's grandfather Clarence in 1946.

Back in the 1970's, Charles was running Midstates when he was was left with an unwanted extra supply of videos. He started a club to rent them out, and so began what is now the country's largest video store chain, according to an account from the Entertainment Merchants Association.

In a recent interview, Keith told the Chicago Tribune his father was a "genius" who left the company well positioned for a decline in consumer demand in-person video rentals by strong real estate investments. Of his six children, only his eldest son, McLain, currently works for Highland Ventures. Keith explained why he never attempted to take the company public since inheriting the business from his dad in 1995.

"It's a family business and I want to keep it a family business," he said.

» More from Keith's interview with the Chicago Tribune & profile in Forbes

Top photo: Street View of Glenview location of Family Video, Marco's Pizza