What It’s Really Like Taking Over a Family Business

Taking over the family business sounds like a natural next step for many people, but in reality, it’s often anything but simple. Between generational differences, shifting business landscapes, and overcoming the natural perception that the title was simply given, there’s a lot more to the handoff than most people think.

At Soft Touch Furniture, a Girard, Ohio-based manufacturer of commercial restaurant furniture founded in 1974, a second-generation owner is learning how to carry forward a legacy while confidently building something new, with buy-in from everyone in the building.

Over the last decade-plus, Megan Vickers, Soft Touch’s current president, has been groomed to succeed her parents, co-founders Bob and Terrie Chudakoff. Here’s what she has to say about taking the reins from her parents, the lessons she had to learn (sometimes the hard way), and why respecting the past is just as important as moving forward.

What’s the most important thing you’d tell someone else taking over the family business?  The most important thing is to listen.  Don’t come in thinking you need to change everything right away. There’s a lot of wisdom and hard-earned experience in how the business was built, from both the founders and the employees. Even if you eventually go in a different direction, you need to understand the foundation first.

Did you always know you wanted to be in the family business?  Actually, no. I went to school for Criminal Justice and Psychology. But growing up, I was always exposed to the business – my parents were constantly working on it, and over time, I got curious about how everything ran: operations, clients, decision-making, all of it. And then I realized – this was where I really wanted to be.  My siblings chose different paths, and I completely respect that. But my dad always sensed I had a natural pull towards the business. I think having a genuine interest really matters. Running a company is all-consuming. If your heart’s not in it, it eventually shows.

What are the unique challenges of stepping into a family-run company?  There’s a strong emotional layer. You’re not just managing a business – you’re carrying a legacy. That brings pressure. Decisions aren’t just strategic, they’re personal. You need to navigate what’s best for the company versus what feels right for the family dynamic.  Then there’s the challenge of earning respect, not just because of your last name, but because of your own work ethic, ideas, and leadership. That takes time, and it takes building good business relationships with both your parents and the employees long before you take over. They need to know, from their own experiences with you, that the company is in good hands. From my own experience, I would say it helps immensely to work in the business long before you take over, and learn the various aspects of it from the people you will eventually lead. 

Did your relationship with your parents ever get in the way?  Yes, and I think that’s natural. First off, I love and respect my parents deeply. But when someone pours their life into building something, it’s not easy for them to let go. There were definitely moments where our perspectives clashed. Not out of malice, but because we simply see things differently.  The key is open communication and mutual respect. I’ve come to see those tough moments as growth opportunities. And now that I’m older and my parents have stepped away, I have even more appreciation for everything they did.

How do you balance your dad’s continued advice with your own instincts?  Very carefully. I have to remind myself that his advice is invaluable. This is because he’s lived through market changes, tough customers, staffing issues, you name it. But I also must interpret that advice through today’s lens.

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