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Family Succession - Partner Relations

 Keywords:

Family Succession planning

Partner relationships

Design Build Landscaper

Landscape Maintenance

Production Growing

Distribution centers

 

Background

Established firms with successful market presences in very competitive markets.  Multiple product lines in place. Family owned for many years.  Two partners with 50/50 ownership.  Business processes inconsistent within the various business units.   

Owners Goals

The two owners wish for cooperation with each other.  Both owners look for the continuation of their respective businesses to their children.  Improved financial controls are required to deal with the diversity and change in the various business units.

Actions taken

-          Over many years and three Kraft consultants, coaching and counseling of the two owners to help them manage their differences.

-          Establishment of a process to uncover and support the next generation’s roles in the business with good results.

-          Review and improvement of financial and costing systems

-          Set up and continuation of inventory control system for the production nursery and distribution centers.

-          Senior management development to allow owners to achieve personal goals.

-          Sales and customer service training including the use of Spanish translators 

Results

The owner’s goals were met for business process improvement and succession planning.