Latest News
PwC’s 11th Global Family Business SurveyFriday, 05 May 2023PwC’s Family Business Survey 2023 comes at a time of great change. The optimism of a post-covid world has been sorely tested by the geopolitical
|
A guide to family business succession planningFriday, 11 February 2022Succession planning is one of the most sensitive issues, and COVID-19 appears to have concentrated minds in this area. Topics such as
|
Tánaiste and Minister Donohoe launch new €90m fund for Irish start-upsThursday, 10 February 2022The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD and the Minister for Finance, Paschal Donohoe TD launched a new
|
Brothers Kelly and Keith Toppazzini are the owners of Canada-based Topper's Pizza, a pizza franchise their father, Ron, founded back in 1982. Over the last 33 years, their family business has expanded to 35 traditional quick-service pizzerias and one traditional location.
From a young age, both Kelly and Keith were involved in the planning, construction and operation of the the first location. Here, they share these best practices for keeping a family business thriving.
Set rules to establish culture
Kelly hired advisers to create "Toppazzini Rules," a set of guidelines intended to protect the entire team and preserve company culture. One of the rules is designed to promote fairness and avoid nepotism -- and there are no exceptions. For example, Kelly's daughter is graduating this year, and has to work somewhere else for two years before she can apply for a senior position in the family business.
Nurture your people
Promote non-family members
Treat customers like family
Instill core values
Couples should start a family business if they are able to create a strong foundation of communication and trust; their talents and strengths should also complement one another.
Exposing kids to the family business is also important. Kelly's children, for instance, have worked for the company as part-time employees while going to school.
Finally, Kelly advises that business owners remain as hands on as possible. He spends much of his time shaping the company culture and communicating with the operational team.
And when it comes to strategizing a plan for his business, he doesn't just leave it to chance; he travels to different locations to gather information, looking for ways to improve the products and the brand.
|