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November 2006
Transitioning Your Wine Business to the Next Generation
How successful wineries adopt practices that decrease risk and improve the sustainability and value of their businesses, even during transition.
by Deborah Steinthal
Winery owners who are nearing retirement and wanting to pull out of their day-to-day schedules might be asking themselves: "Is my family business ready for a transition?" The American economy depends heavily on the continuity and success of family businesses. It is alarming that such a vital force has such a poor survival rate. Although it's hard to predict, the California wine industry may just beat the odds. Scion Advisor's 2005 Succession Survey shows that 270 family wine businesses may ma...
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