Frank Venegas Jr.
Board Member, Detroit Riverfront Conservancy
Chairman and CEO, Ideal Group
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 $500 million, employing approximately six hundred people. Over the years, family members Loren (brother), Linzie (daughter), and Jesse (son) joined the Ideal Executive Leadership team as owners.
Based on the Venegas family's 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 nineteen of its Global Supplier of the Year awards and two Overdrive Awards.
On October 4, 2022, MMSDC Inducted Frank Venegas, Jr. into its Hall of Fame. In 2020, a past MMSDC Luminary Award Recipient, NMSDC, and MMSDC selected Frank Venegas and Ideal Group companies for their national 2020 MBE of the Year Award and multiple MBE Supplier of the Year Awards. In 2016, the Tuck School of Business at Dartmouth awarded Frank an Honorary Doctorate Degree for his business acumen, urban community development programs, and creating career pathways through Ideal's education and sustainability initiatives.
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."
Frank Venegas Boards and Advisory Councils: General Motors Global Suppliers Alumni Council; Business Leaders of Michigan; Detroit Regional Chamber of Commerce; Detroit Riverfront Conservancy; Mayor Duggan's Workforce Development Board; Huntington Bank Southeast Michigan Advisory Board; University Advisory Councils for: The Tuck School of Business at Dartmouth College, and University of Michigan-Dearborn, CASL