The term “family business” may bring to mind small, mom-and-pop operations, but a recent report by Boston Consulting Group noted that one-third of companies with sales of more than $1 billion are family-controlled businesses, including such familiar names as Wal-Mart, Samsung and Porsche.

In recent years, the Neeley School of Business has offered a special class designed to prepare the next generation of family-business executives. Taught as part of the Management, Entrepreneurship & Leadership Department, the class includes students who plan on joining an existing business within their own family as well as those seeking employment in a firm operated or owned by family members. Students tackle a variety of topics, from team building to succession planning.

“The class gives students a perspective on how a family business operates,” says Mark Muller, assistant dean of finance and administration. “The culture is different and family values are a strength in the business that can be passed along from generation to generation.”

Sarah Nunley, an accounting major from Sabinal, is looking forward to joining her family ranching business, Nunley Brothers, as a fourth-generation member, but plans to spend some time working in the accounting or finance industry first.

“I decided to take this course because family business is my way of life and what I look forward to getting back to one day,” she says. “Growing up, my dad was always open with me about everything, from day-to-day business issues to estate planning issues, so when I saw this course covered these things, I knew it would be a beneficial investment of my time.”

Tony Holzbach, a management major from Colleyville, is already involved in his family’s wholesale and retail garden center, The Plant Shed, and plans to continue working with the family after graduation.

“The family business class emphasized the unique challenges of balancing the family and business relationships when it comes to running a business,” he says. “One particular element the class has already added to our company was bringing ‘Family owned and operated since 1983’ to a forefront in our advertisements.”

Kiley Trent, a marketing major from Dallas, has two family business opportunities waiting for her. Her father is a jeweler who has been designing, manufacturing and selling his own pieces at his Dallas store, Matthew Trent, for more than 25 years. Five years ago, Kiley’s mother opened a gift shop, the T Shop, which has become known as a destination for unique gift items.

“Being a part of a small family business has taught me the importance of work ethic, time management, loving what you do, and being a part of a business you care about,” Kiley says. “In the class, I have learned theories, concepts and tools that can be applied in any industry. There have been so many examples and opportunities to think about how these concepts are relevant to my particular family business.”

Whether students are planning a future working within a large, family owned/operated corporation or joining their own family members in growing a successful family business, Holzbach says TCU is preparing young entrepreneurs to meet the challenge.

“I have some big shoes to fill and I believe TCU is getting me ready to wear them well in the future.” he adds.