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There’s been a lot of research done on business owners and their top business planning priorities. But the one statistic we don’t need research to prove: 100% of business owners will exit their businesses some day.
View the 2025 Business Owner Perspectives Study .
Many business owners have thought about who will take over their businesses, but have not had meaningful discussions to ensure the successor has a passion for the business. Watch how a family-owned hardware store is planning for its transition and how each owner has their own opinion on who would be best to take over the business.
In the mid-1980s, Joe and his brother Mike built a successful precision manufacturing company from the ground up. Twelve years later, circumstances changed and they were ready to bring in the second generation to help run the business. The trouble was, they weren’t sure how to do it smoothly.
1 Source: 2025 Business Owner Perspectives Study (PDF)