More Grown Children Returning to the Family Business

family businessThanks to good food, hard work, and caring about customers, many family businesses, such as restaurants, can make it through the worst of times.

Often, the parents who struggle in the food business don't want their children to have to do it. Instead they dream that the second generation become doctors or lawyers. That''s what Ted Skiadiotis, who now owns family business Skidders Restaurant, in St. Petersburg, Fla., tells Good Magazine. Although Skiadiotis pitched in and helped out in the restaurant most of his youth, he never expected that to be his life's calling. Well, that's what it has become. He is finding satisfaction where he didn't expect it, such as developing new pancake recipes or making medallions of ostrich.

With the economy in turmoil, more are returning home to what they know: all the diverse versions of what could be called the family business. After trying out career paths in practicing law at a major firm and marketing in the publishing industry, Will Meyerhofer decided to join his father, mother, and brother in practicing psychotherapy. That meant getting yet another degree - one in psychiatric social work. That's exactly what he did. One of his specialties is advising lawyers about their other career options.

Returning to the family business brings the advantage of having down cold what makes the enterprise successful before you start work, a brand name, a ready made network of customers and referrals, and an unofficial board of directors to guide you through problems and change.

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