Learning from the previous generation family business model

The generation gap is real. This will be understood by those who have actually seen the different generational behavior and culture. Mostly, when we think of it, we get reminded of the family-based business that is carried on by many families. It involves various products and services that they are capable of providing. Also, it is rather connoted to be either a small or midsized firm that faces many challenges and one of the most dreaded risks is fear of succession.

The young generation in the family may or may not be willing to carry on the business with their idea as most of the foundation will already be set generations back. This is a big risk that has to be faced by many. Ben Friedman Toronto is a well-known name in Canada as the family has been into long-term care facilities in many places. Mr. Ben’s father and grandfather have been working on this facility for many years. Spending most of the time with his father, Ben developed an interest in continuing the facility in the future.

Next-generation influence on the facility:

The facility eventually got sold off after his father’s demise as his grandfather was not able to manage alone and needed a partner. Ben Friedman Toronto was a young boy then and due to that reason, he was not able to find any other trustable partner. Ben always knew he was going to continue the legacy left by his father and grandfather. This is when he started Rykka Care Centre 12 years back. He felt there is no other better way than to start the legacy again in the name of his daughter.

Challenges faced with time:

With certain conventional methods, he was able to bring it to a different level where most of the residents were happy and peaceful in the environment. With satisfaction come various other kinds of challenges that really put them in the hot seat. Covid-19 spread like wildfire and the residents were also frightened by the effect of the virus. But the firm never compromised on their safety as they provided utmost medical and mental care to all the residents. There were fatalities inside the home but they all were due to natural causes.

With their bitter experience during the Covid-19 period, the government itself decided to provide new investments to the long-term care sector. This helped several elders living in Ontario. With his never-ending belief in his family values, Ben always tries to remember and pay respect to his father who would be beyond proud of his achievements as a proprietor of their long-standing care facility.