Longevity and the Family Business: Tricky Transitions
Keeping a family business going from generation to generation can be tricky, especially when you don’t know whether the next generation will want to take over or not.
Keeping a family business going from generation to generation can be tricky, especially when you don’t know whether the next generation will want to take over or not.
According to the National Restaurant Association, there are 970,000 restaurants in America. Further research indicates that the three-year failure rate for restaurants hovers around 60 percent. So just what is it that makes some restaurants fold, while others turn into gold? For two successful Washington D.C.-based restaurants, the answer to their success starts with family.
Internecine battles in closely held firms need not lead to deadly civil wars.
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