There are two trends we’ve seen become part of the floriculture industry spotlight over the last couple of years: we are an older industry in terms of age of ownership, and we are not as prepared to pass our companies on to the next generation as we should be. And yet, succession planning only barely cracks the top 10 — #9, to be specific — on the list of top concerns greenhouse growers have about their business (according to Greenhouse Grower’s 2024 State of the Industry survey).
Here’s why this is troublesome: while more than half the companies who took our survey said they either have a succession plan in place or are in the process of doing so, that means around a third of all businesses do not have a plan. In fact, some respondents offered a few concerning comments:
- “When I retire, the business will close.”
- “We have no plan, our children are not interested.”
- “We are closing our retail greenhouse business after this fall season.”
Here’s a full breakdown of our question on “If you own your business, where are you at with succession planning?”
We also asked what your plans were for your business when you do retire. While 43% of respondents planned to pass the business on to family members, nearly 40% were unsure.
Moving into 2025, our team at Greenhouse Grower plans to address these concerns with advice from experts, success stories (if you have one, drop me a note at [email protected]), and more. Stay tuned!
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State of the Greenhouse Industry: Concerns About Succession Planning Linger
