Tag Archives: succession planning

Chris Cummings thought he had all of his boxes checked when it came to succession planning. The owner of The Paint Center in Abilene, Texas, had hired two younger employees, Kinsey Brown and Anthony Martinez, with the intention of grooming …

In the home improvement industry, many operations are family businesses with several generations of tradition impacting decision-making. When it’s time for the previous generation to pass the baton to the next, sometimes tradition and discomfort about change can get in …

When hiring staff, most retailers put a great deal of effort into the application process to make sure they’ve found the right person. Choosing your business advisers is equally important. These are the people you rely on to help you …

While you may not like to think about it, you need to plan for what will happen if you are abruptly unable to continue in leadership. To do this kind of succession planning, there are a variety of legal and …

Whether you are building your employee schedule for next month or investing in a new category without knowing how it will perform, you are often asked to make decisions that would be simpler if you had a crystal ball. However, …

In 2020, Hardware Retailing is talking about succession planning in each issue of the magazine. To get the series started, we consulted with Gary Pittsford, president and CEO of Castle Wealth Advisors, a financial advisory firm that has been guiding …

Business training and a long family history in entrepreneurship still weren’t enough to prepare Margaret Clark for the challenges of passing a business from one generation to the next. The seventh-generation owner of Clarks Hardware in Ellicott City, Maryland, Clark …

Employing family members can be tricky business. To your benefit, common culture, work ethic, trust and loyalty often run strong among family members who work together. However, having relatives on staff or in leadership can also present a challenge. What …