Prime Partners Podcast
What It's like to Be the Second Generation in a Family Business
March 16, 2023
In this episode of the Prime Partners Podcast, Luke Schar, General Manager of Schar Heating & Cooling Inc., sits down to discuss carrying on a family legacy, gaining his employees’ trust, challenges and goals, and the company’s growth opportunity.
Join us in discovering what it's like to be the second generation in a family business!
Time Stamps- (00:59) - About Schar Heating & Cooling
- (01:39) - How did you first get involved in HVAC?
- (02:44) - When did the family business begin and what is the founder’s current role?
- (03:40) - Did you always want to be a part of the family business and are other family members involved?
- (06:33) - What are your company’s biggest challenges and what does Schar Heating do really well?
- (08:33) - Is it difficult to find people who fit your company culture?
- (10:42) - What are the challenges in the transition of taking over the family business?
- (12:39) - What are you doing to earn your employees’ trust?
- (14:34) - What have you learned from your dad that has helped you in business?
- (17:49) - As your role expands, are there things you’d like to change about the business?
- (20:36) - Do you have an endgame?
- (24:16) - Where do you see the company in the next five years?
- (26:17) - What is the timeline for you to fully take over the business and what do you see your father’s role being?
- (28:09) - What’s your vision for yourself?
- (29:14) - Final thoughts
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