For some, family businesses mean spending more quality time with their families, financial freedom and so much more while for others it feels like a prison sentence. There are so many pros and cons, positives and negatives and so we wanted to create a space for folks who have experiences with family businesses to discuss the pros and cons.

Brittany Pope

I come from a line of entrepreneurs and people who thrive in imagination of their own careers. I was raised if you want it go get it and that’s just what I’ve done over the years. I believe family businesses are pivotal in this day and time not only for the legacy to be passed but for the never ending support my children already help out in our business and they know the hard work that it takes to be successful. Read more>>

Tameika Thomas

I may have a more unfavorable view on family businesses. I absolutely love them and believe that they can make it longer than two generations. Having a family business with my biological sister has given me direct exposure to the many benefits as well as pitfalls of going into business with family. Initially, the thought may be that mixing business with personal is the first mistake. I believe that it’s imperative to separate business from personal, as challenging as it may be. When discussing business, my sister is not my sister, she is my business partner. Differentiating the two helps to ensure that our priorities are directed towards the right things. The benefits of going into business with family include: trust, transparency, teamwork, and flexibility. Some pitfalls include: delay in decision-making, blurred boundaries, financial strain, and succession planning. When referencing the benefits, I would say that trusting my business partner provides peace of mind that both of our views are considered before making a business decision. One pitfall mentioned previously is delay in decision-making. Because there are only two of us, there are times when we have to decide to agree to disagree and proceed in the task at hand. One decision that we both agree on is not forcing our current and/or future children to join the family business if they aren’t interested. There are some experiences that stem from the benefits and pitfalls above mentioned that helped shape my view on family businesses. Most recently, my business partner and I decided to be intentional about our endeavors in one another’s entities. As sisters, we are heavily involved in each other’s projects. To eliminate burnout and tension from constantly working in one another’s space, we decided to only run the business for a period of time. I thoroughly encourage family members in business to do an evaluation of all that they do together. This is because we get so engulfed in supporting one another that our lives become intertwined which leaves no breathing room. Frustration and a short temperament can develop subconsciously if not identified early. I’ve found that separation was necessary and has further supported my beliefs on family businesses thriving beyond expectancy. In any relationship, intentionality is key. If the goal is to flourish in growth and business, being intentional must not be a compromise. Be intentional in the business relationship, family dynamics, and communication to aid in a successful family business. It is an absolute honor and privilege to get to work with my sister. Read more>>

Michelle Lutostanski

Family businesses are truly special, and I feel fortunate to be part of one. Working alongside my family makes each day both rewarding and dynamic. While many assume it’s easy, the reality is that it comes with its own unique challenges. Navigating daily tasks while maintaining strong personal and professional relationships requires patience and dedication. However, we all work incredibly hard and put our hearts into what we do because this business is more than just work—it’s something we have all built together. It’s our baby. I consider myself truly blessed to grow alongside my family, and while it’s not always easy, it is absolutely worth it. Read more>>

Darien Donovan

I am one of the owners of Sprinkles Italian Market & Bakery, which is a family owned and operated business. I would like to say that I have a lot of experience in family run businesses, as my sister, Emma is my business partner. The opportunity to work with family is so special, having shared values, a strong relationship, and trust are key components that have lead Emma and I to grow Sprinkles into what it is today. Here at Sprinkles, we have a created a supportive and stable environment conducive to success. If someone were to ask me my personal opinion on going into business with family I would highly recommend it. Yes, there can be difficult times, as there are with any business partner – family or not. I am lucky to say that I have a very supportive and heavily involved family. With that being said, I have learned that family always has your best interest at heart, no matter the circumstances. Therefore, everyone has the same goals and desires in mind; success for one another. Read more>>

 James Clark

Old adages often warn against getting into business with relatives however these partnerships have resulted in the greatest successes of my career. My family is financially and emotionally invested in the success of our ventures and the byproduct of that is creating an environment were all staff, related or not, understand that we are in this together. We’ve certainly adopted the philosophy that there is plenty of benefits, both financial and personal, that can we shared in amongst all of us. An extra perk is being able to work side-by-side our spouses & children. It’s a perk of a family run restaurant were our loved ones can have a real time window into your work persona vs family persona. This view is uncommon and a very special way to gain new perspectives about our own families. Read more>>