What It's like to Be the Second Generation in a Family Business

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