Thirty-five years ago, Roland Spongberg started a restaurant company with one El Pollo Loco in Long Beach, CA. Today, WKS Restaurant Company employs 12,000 employees across 375 restaurants in 19 states operating Denny’s, El Pollo Loco, Krispy Kreme, and Wendy’s.

From a pure family perspective, with six children, Roland initially thought he would simply divide his estate by six. However, as an owner of a business with the family involved, he realized quickly it was much more complicated. Roland had family working in the business with different levels of leadership, family not working in the business, and family in various stages in life. Additionally, the business provided for 12,000 employees beyond his immediate family.

Due to the complicated environment, Roland leaned on succession planners Hugh Roberts and Jeff Bannon to guide him and his family through a very open process of building equitable succession strategies for the business and family.

Listen in to hear Roland Spongberg share how by proactively building succession strategies, he has created an equitable environment allowing his family and business to flourish.

How We Help You

Are you struggling with family business succession planning like Roland Spongberg did when navigating the complexities of passing down a thriving restaurant company? With multiple family members involved in different capacities and thousands of employees relying on your business, devising equitable succession strategies can seem overwhelming.

If you are in a similar situation, don’t hesitate to contact us. Our team of experts specializes in family business succession planning and can provide you with insights and resources to streamline the process. Contact us today, and let’s explore how we can help you secure the future of your family business. In just 30 minutes, you may gain valuable ideas to implement immediately.

Franchisee Succession Planning Resources

  • Succession Readiness Survey:  A 7-minute investment in time will put you in an informed position of opportunities many business owners overlook impacting business value, growth, lifestyle, and ultimately achieving your vision.
  • Contact Us: We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.

For more insight from Roland Spongberg, Founder and President of WKS Restaurant Group, check out the episode Strategies Evolve as the Family and Business Evolves

The Succession Planning Matrix

Many people put off succession planning because they think it means retirement, exit, and the end. However; succession planning is just the beginning. It gives the owner options in terms of what “their next” looks like, whether that be growth, philanthropy, or a new business venture. Our process focuses are addressing 10 key areas of what we call the Succession

Click the following link for more drill-down resources on The Succession Matrix, or check out our Facebook post.

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We can provide insights and other resources and assess whether it makes sense to work together. In just 30 minutes, you may gain actionable ideas that you can immediately apply to your business. Contact us via phone or email below, or fill out the “Ask An Expert” form.