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    Family Business II: Russ & Daughters, NYC

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    grandparents

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    "Thirty percent of family businesses will survive the transition from founders to second generation. Only 12 percent will still be viable into a third generation,” says Paul Karofsky, 64, a grandfather of four who's been advising family businesses for 20-plus years at Transition Consulting Group, Inc., in Palm Beach Gardens, Fla., citing findings of the Family Firm Institute. Here's how to make a successful business transition from generation to generation, just as Russ & Daughters did with their New York City famed smoked-fish emporium. Check out Part I in this series featuring Mark Isreal of Doughnut Plant: http://www.grandparents.com/gp/gptv/video/family-business-doughnut-plant.html?utm_source=russDaughtersVideo