As family businesses grow, the hope most often is that subsequent generations of the family will step into management shoes. But that's not always the best solution for the business, says Henry Landes of the Delaware Valley Family Business Center (DVFBC).
One of the Center's clients is Shady Maple Smorgasbord, which began in 1970 as a family-run "farm market” and now has more than 250 employees and the capacity to serve meals to up to 9,300 customers a day. With the full support of both the founder and the next generation of family members, Shady Maple selected Elwood Martin, a non-family member.
The Smorgasbord, in East Earl, Pa. will host a dinner seminar on Nov. 13, where Martin and the Weaver family will explain the managerial transfer. Other speakers will include DVFBC representatives and George Brown, fourth-generation family member and shareholder of the popular publication, Highlights for Children.