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Challenges of Family Business in the Restaurant Industry
The restaurant industry has seen a shift from founder-owned businesses to private equity buyouts, resulting in a focus on business transactions and short-term profits rather than long-term integrity. Family-owned businesses are driven by a sense of responsibility to their crew and a commitment to their one love, which has led to sustained success. Despite the industry's trends, the speaker's family business has achieved the second highest average unit volume in all quick-service restaurants, emphasizing their ability to maintain their values and thrive.