Succession Planning for Franchise Owners

Mike Arends, Licensed Owner of Pearle Vision franchises in Minnesota and South Dakota, was pleasantly surprised when his daughters decided to follow in his footsteps and take over the family business. In about a year, daughters Jessy and Maggie will become co-owners with their dad and his business partner.

How do franchisees go about creating a succession plan for the next generation? Learn what worked for Arends and other leading concepts’ franchisees in a new article in Franchise Times.

Pearle Vision franchise owner, Mike Arends, with daughters.
Longtime Pearle Vision franchisee Mike Arends is funding a transition period to pass his Minnesota operation to his daughters Maggie Arends, left, and Jessy Arends. Photo Cred: Franchise Times