One reason may be changing times. Fifty years ago, many families owns local grocery stores. But today, small family owned stores cannot complete with large supermarket chains. Today, most Mom and Pop stores are a thing of the past. The way of life is another challenge in a family business. A successful company requires hard work and long hours. Younger generations may not want this lifestyle. They may want more freedom. In addition, sons and daughters may not have the same enthusiasm for the business as their parents.