220623 MSED Speaker Series: Fireside Chat with Frank Venegas Jr., June 23, 2022

Frank Venegas, a Detroit, Michigan, entrepreneur and the grandson of Mexican immigrants, capitalized on a winning raffle ticket, the proceeds of a new 1979 Cadillac, and his grandfather's sage advice "Do what your boss does not want to do!" to launch his first company in 1979. The Ideal Group, a Southwest Detroit family-owned company, has evolved into eight nationally recognized companies with annual revenues approaching $350 million, employing approximately six hundred people. Over the years, family members Loren (brother), Linzie (daughter), and Jesse (son) joined the Ideal Leadership team as owners. Based on the Venegas family core values, Ideal companies continually meet and exceed customer needs in construction, facilities management, manufacturing, indirect material management, and surplus sales. Performance-driven, General Motors awarded Ideal companies sixteen of its Global Supplier of the Year awards and two Overdrive Awards. An MMSDC Luminary Award Recipient, NMSDC, and MMSDC selected Frank Venegas and Ideal Group companies for their national 2020 MBE of the Year Award and several past MBE Supplier of the Year Awards. In 2019, IMPACT (the national Ironworker Management Progressive Action Trust) presented Venegas with its Estrella Award, honoring Military Veterans and their children. Frank's father, Frank Venegas, Sr., served in World War II. The government of Mexico honored Frank Venegas with its Ohtli Award, the country's highest award to a foreign citizen. The award is a tribute to Ideal's corporate advocacy, mentoring and philanthropic contributions to community schools and organizations. Frank's business and community model provides community career pathways to educational and job opportunities. All illustrate the Venegas family value, "Take care of your community, and your community will take care of you."