I’m taking over the family business. I’ll be a third generation owner. I will purchase it through contract for deed.
My father told me the number one thing he wanted to do was run the business better than my grandfather. I feel the same way, and sometimes I’m not quite sure how to vent my frustrations to my father on what he could do better.
He’s a terrific businessman who had brought our family comfort. Sometimes I think he has some blind spots.
How do I approach these things without being insulting?
My wife’s company started 60 years ago and grew to 18 locations and $50+ million in sales and 500+ employees. The son came in and took over from the father who built it from nothing. Less than 3 years in, it’s down to 1 single location doing under $1 million with only 5 employees. Don’t be like him.