Family-owned dealerships – Make the pros outweigh the cons

Description

Abstract: In a time of industry consolidation, is operating a family dealership all it’s cracked up to be? Such businesses offer certain advantages — but face distinct challenges that require ongoing attention. This article looks at some of the advantages that family dealerships enjoy, but also notes the challenges — and remedies — regarding compensation, organizational processes, resentful nonfamily employees, and succession planning.