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Helping Family Businesses
Prosper Across Generations®

Succession Planning

You've worked your whole life to build a name for your business in your community. How do you ensure that hard work carries on into future generations?

Franchisees and dealers face a number of critical questions in planning for succession within their companies:

  • Who will my next generation leader be? Is that person a family member, or is a non-family General Manager a better choice?
  • How does that next generation leader gain corporate approval?
  • How do we communicate that decision within the family to ensure family support?
  • What to do with ownership & leadership of the company or companies when you have multiple children or multiple branches of the family?
  • What if none of my children want to be active in the business? What then?
  • When is the best time to pass on leadership of the company? When should I start to plan for that?
  • How will my employees react to new leadership? What can I do to lay the groundwork for success?
  • And much more.

The answers are different for each family, each business, and each vision for the future. What's common is that we find businesses make the transition to the next generation of leadership much more smoothly when they follow a structured process over a period of time that considers the well being of both the business and the family.

To learn more about our approach to succession planning, contact us.

8770 W. Bryn Mawr Ave., Ste 1340W, Chicago, IL 60631
P: 773.604.5005 E: info@thefbcg.com 

© 2017 The Family Business Consulting Group, Inc. All Rights Reserved.

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