5 answers
George
Student
3
Questions
Asked
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What is the best path to taking over one of your parents' businesses? Should I go to college for a business degree?
I am in 10th grade and 16 years old. I really like doing hands-on work and talking with people, and I don't really want to go to college. Would it be worth it to go? I feel that t
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5 answers
Chriss Peck
Executive Assistant
12
Answers
Glendale, Arizona
Updated
Chriss’s Answer
Hi George- You’re actually in a really good spot to be thinking about this now—most people don’t start until it’s way later.
Short answer: you do NOT need a business degree to successfully take over a parent’s business.
But whether college is “worth it” depends on how you learn best and what the business requires.
The real “best path” (this matters more than college)
If your goal is to take over a family business, the strongest path usually looks like this:
1. Start working in the business early (you’re at the perfect age)
Do basic jobs first (even the boring ones)
Learn how everything actually runs day-to-day
Watch how your parent handles customers, money, and problems
2. Gradually take on responsibility
Scheduling, inventory, customer issues, etc.
Eventually: pricing, hiring, and decision-making
3. Learn business skills in real life
The most important skills aren’t from a classroom:
Talking to customers (huge advantage if you already like this)
Managing money (profit, expenses, cash flow)
Problem-solving under pressure
Leading people
4. Learn the “numbers side” (this is critical)
Even if you hate school, you must understand:
Profit vs revenue
Taxes
Basic accounting
Pricing and margins
This is where many businesses fail—not from lack of effort, but lack of financial understanding.
So… should you go to college?
You probably DON’T need college if:
You’re actively working in the business
It’s hands-on (contracting, trades, service-based, etc.)
You learn better by doing (which you said you do)
You’re disciplined enough to self-learn the basics
In your case, this sounds like you.
College might be worth it if:
The business is complex (finance, legal-heavy, corporate, etc.)
You want a backup plan
You feel you need structure to learn
You’re not getting real responsibility in the business yet
A really smart middle-ground (often the best option)
Instead of a 4-year degree, consider:
Community college (2 years or less)
Business certificate programs
Online learning (much cheaper, very practical)
Focus on:
Accounting basics
Marketing
Communication / sales
This gives you knowledge without wasting time or money.
What I’d recommend for YOU specifically
Based on what you said:
You like hands-on work.
You like talking to people.
You don’t want college.
You sound like someone who would thrive learning in the business, not a classroom.
So a strong plan would be:
Start working in the business ASAP (if you aren’t already)
Ask your parent to teach you how the money works
Take a few targeted classes (not a full degree)
Slowly build toward managing parts of the business
One thing you should NOT skip
Even if you avoid college:
You cannot avoid learning business fundamentals.
If you take over without understanding money, pricing, and operations, you’ll struggle—no matter how hard working you are.
A question that will help refine your path
What kind of business do your parent run. I would keep this in mind when making your decision.
The “right path” can look very different depending on whether it’s:
Construction / trade
Retail
Service business
Professional (legal, financial, etc.)
Good Luck!
Chriss
Short answer: you do NOT need a business degree to successfully take over a parent’s business.
But whether college is “worth it” depends on how you learn best and what the business requires.
The real “best path” (this matters more than college)
If your goal is to take over a family business, the strongest path usually looks like this:
1. Start working in the business early (you’re at the perfect age)
Do basic jobs first (even the boring ones)
Learn how everything actually runs day-to-day
Watch how your parent handles customers, money, and problems
2. Gradually take on responsibility
Scheduling, inventory, customer issues, etc.
Eventually: pricing, hiring, and decision-making
3. Learn business skills in real life
The most important skills aren’t from a classroom:
Talking to customers (huge advantage if you already like this)
Managing money (profit, expenses, cash flow)
Problem-solving under pressure
Leading people
4. Learn the “numbers side” (this is critical)
Even if you hate school, you must understand:
Profit vs revenue
Taxes
Basic accounting
Pricing and margins
This is where many businesses fail—not from lack of effort, but lack of financial understanding.
So… should you go to college?
You probably DON’T need college if:
You’re actively working in the business
It’s hands-on (contracting, trades, service-based, etc.)
You learn better by doing (which you said you do)
You’re disciplined enough to self-learn the basics
In your case, this sounds like you.
College might be worth it if:
The business is complex (finance, legal-heavy, corporate, etc.)
You want a backup plan
You feel you need structure to learn
You’re not getting real responsibility in the business yet
A really smart middle-ground (often the best option)
Instead of a 4-year degree, consider:
Community college (2 years or less)
Business certificate programs
Online learning (much cheaper, very practical)
Focus on:
Accounting basics
Marketing
Communication / sales
This gives you knowledge without wasting time or money.
What I’d recommend for YOU specifically
Based on what you said:
You like hands-on work.
You like talking to people.
You don’t want college.
You sound like someone who would thrive learning in the business, not a classroom.
So a strong plan would be:
Start working in the business ASAP (if you aren’t already)
Ask your parent to teach you how the money works
Take a few targeted classes (not a full degree)
Slowly build toward managing parts of the business
One thing you should NOT skip
Even if you avoid college:
You cannot avoid learning business fundamentals.
If you take over without understanding money, pricing, and operations, you’ll struggle—no matter how hard working you are.
A question that will help refine your path
What kind of business do your parent run. I would keep this in mind when making your decision.
The “right path” can look very different depending on whether it’s:
Construction / trade
Retail
Service business
Professional (legal, financial, etc.)
Good Luck!
Chriss
Thank you for all this info and great ideas my parents own a Napa store
George
You're Most Welcome, George!
Anton Jones ...
Rebecca Aidoo
Fashion specialists
39
Answers
Accra, Greater Accra Region, Ghana
Updated
Rebecca’s Answer
Hello there! It’s great to know of your interest in taking over your parents’ business, especially since you enjoy hands-on work and interacting with people. Ideally, it’s good to learn how the business operates while building your own skills like daily operations, customer relationships, finance, and decision-making.
A business degree is equally valuable because it provides structured knowledge and skills that would be useful for the business. You could take an online course in business administration or business management while working, and also develop skills like marketing, inventory management, basic accounting, communication, customer service, sales, problem-solving, time management, financial planning and budgeting, team management, analytical skills, and networking and relationship-building. Combining both gives you a stronger sense of what you’re working on, provides more insight and fresh perspectives about the business, and also helps prepare you for leadership.
For now, keep learning, ask questions, and build a strong foundation before making a long-term decision.
A business degree is equally valuable because it provides structured knowledge and skills that would be useful for the business. You could take an online course in business administration or business management while working, and also develop skills like marketing, inventory management, basic accounting, communication, customer service, sales, problem-solving, time management, financial planning and budgeting, team management, analytical skills, and networking and relationship-building. Combining both gives you a stronger sense of what you’re working on, provides more insight and fresh perspectives about the business, and also helps prepare you for leadership.
For now, keep learning, ask questions, and build a strong foundation before making a long-term decision.
Marty Meyer
General Manager
91
Answers
Los Angeles, California
Updated
Marty’s Answer
While you don't need a degree, what you get from a college education is more than mastering subject matter - higher education can also teach you how to think.
You're lucky to be in a position to take over your parent's business. I'd suggest learning it from the ground up -sales, service, operations, marketing, business, management and finance. Any segment that particularly interests you can be learned.
Good luck - your parents are lucky to have you as a successor.
You're lucky to be in a position to take over your parent's business. I'd suggest learning it from the ground up -sales, service, operations, marketing, business, management and finance. Any segment that particularly interests you can be learned.
Good luck - your parents are lucky to have you as a successor.
Karin P.
Lecturer, Academic Advisor, Career Coach, Mentor
1209
Answers
Göttingen, Lower Saxony, Germany
Updated
Karin’s Answer
Hi George,
Good question! A lot will depend on what kind of business it is and where you want to take it. You can learn a lot from just working in the business and learning by doing. If your parents are eager for you to carry on one day, they can introduce you to all aspects of the business step by step.
But then again, old business owners tend to be stuck in their ways and some new ideas might give the business new life. In a small business, you might be able to learn what you need to learn from your parents. In a large complex business, you might need (or would at least benefit from) a degree. You'll have to learn business, but you don't have to get a business degree. You can get an engineering degree if the business is in engineering or an agriculture degree if your parents own a farm. If the business is in the trades, a formal apprenticeship somewhere else might be beneficial.
It sounds like you don't have to decide this right now though. If you can work in the business alongside your parents and learn from the bottom up, you can do that now. See if you enjoy it. See if at some point you want more. You can still go to college for a business degree or some other degree (depending on the kind of business) later when you know exactly what you want out of it.
I hope this helps! All the best to you!
KP
Good question! A lot will depend on what kind of business it is and where you want to take it. You can learn a lot from just working in the business and learning by doing. If your parents are eager for you to carry on one day, they can introduce you to all aspects of the business step by step.
But then again, old business owners tend to be stuck in their ways and some new ideas might give the business new life. In a small business, you might be able to learn what you need to learn from your parents. In a large complex business, you might need (or would at least benefit from) a degree. You'll have to learn business, but you don't have to get a business degree. You can get an engineering degree if the business is in engineering or an agriculture degree if your parents own a farm. If the business is in the trades, a formal apprenticeship somewhere else might be beneficial.
It sounds like you don't have to decide this right now though. If you can work in the business alongside your parents and learn from the bottom up, you can do that now. See if you enjoy it. See if at some point you want more. You can still go to college for a business degree or some other degree (depending on the kind of business) later when you know exactly what you want out of it.
I hope this helps! All the best to you!
KP
Sam Halwani
HR Consultant
6
Answers
Toronto, Ontario, Canada
Updated
Sam’s Answer
You definitely do **not** need to go to college just because you might take over your parents’ business.
The bigger question is whether college is the **best tool for you**.
If you already know you like hands-on work, dealing with people, and being in the real world instead of a classroom, that matters. A lot. Some people do great in college. Other people learn way faster by actually working, solving problems, talking to customers, and seeing how a business runs day to day.
If I were in your position, I’d think about it like this:
If you want to take over the business one day, your job is to become someone who can actually run it well, not just someone who is related to the owner. That means learning the business from the ground up. Learn how to deal with customers, how to handle pressure, how the company makes money, what things cost, how pricing works, how employees are managed, and what makes a good or bad month. Those skills matter a lot.
College can still be worth it, but it is not automatically the right move. Recent U.S. labor data still show that people with bachelor’s degrees earn more on average than people with only a high school diploma. At the same time, research also shows college does **not** pay off equally for everyone, especially if it is expensive, takes too long, or the degree is not very useful. So the right question is not “Should I go because everyone says I should?” It is “Will this help me enough to justify the time and cost?”
For someone like you, a smart path might be:
finish high school strong, start working in the business as much as you can, and then after high school do something practical. That could mean community college, a certificate, an apprenticeship, or targeted classes in accounting, marketing, sales, finance, or management. Then later, if you realize a four-year degree would genuinely help you, you can still do it.
Honestly, that path can be smarter than going straight into a business degree just because it sounds like the “correct” thing to do.
So my answer is:
**No, you do not need a college degree just to take over your parents’ business.**
But you **do** need skills, maturity, experience, and an understanding of how the business actually works.
If you can build those in a cheaper, more practical way, that may be the better option for you.
A good future owner is not the person with the nicest diploma. It is the person who understands the business, earns people’s respect, and knows how to make good decisions.
Good luck with your future endeavours.
___________________________________
Sources:
The official sources behind that advice were the U.S. Bureau of Labor Statistics, the Federal Reserve Bank of New York, PwC’s 2025 U.S. family business survey, College Scorecard, SBA/SBDC, and Apprenticeship.gov.
Work in the business now, even in a small role. Ask your parent to let you do real tasks, not just random help. Learn customer service, scheduling, inventory, cleaning up problems, and how the business actually makes money. Try to understand basic numbers too: sales, costs, profit, and cash flow.
Take one simple career/skills assessment. Use CareerOneStop’s assessment tools to figure out whether your strengths lean more toward sales, management, trades, operations, or something else. That helps you choose the right path instead of guessing. CareerOneStop is a U.S. Department of Labor site with official career tools and assessments. Read more here: https://www.careeronestop.org/?utm_source=chatgpt.com
Compare 3 education options, not just “college or no college.” Look at: a 4-year business degree, a community college or certificate, and an apprenticeship or work-first path. Use College Scorecard to compare colleges and fields of study by cost, debt, and earnings outcomes, so you can see whether a program looks worth the money. Read more here: https://collegescorecard.ed.gov/?utm_source=chatgpt.com
Talk to one real business mentor outside your family. That is important because parents may know the business, but an outside mentor can be more objective. The SBA says Small Business Development Centers provide counseling and training, and SCORE mentors offer ongoing advice at no cost. If the family business is hands-on or trade-based, Apprenticeship.gov also lets you search apprenticeship opportunities and apply directly. Read more here: https://www.sba.gov/local-assistance/resource-partners/small-business-development-centers-sbdc?utm_source=chatgpt.com
To summit all up:
The bigger question is whether college is the **best tool for you**.
If you already know you like hands-on work, dealing with people, and being in the real world instead of a classroom, that matters. A lot. Some people do great in college. Other people learn way faster by actually working, solving problems, talking to customers, and seeing how a business runs day to day.
If I were in your position, I’d think about it like this:
If you want to take over the business one day, your job is to become someone who can actually run it well, not just someone who is related to the owner. That means learning the business from the ground up. Learn how to deal with customers, how to handle pressure, how the company makes money, what things cost, how pricing works, how employees are managed, and what makes a good or bad month. Those skills matter a lot.
College can still be worth it, but it is not automatically the right move. Recent U.S. labor data still show that people with bachelor’s degrees earn more on average than people with only a high school diploma. At the same time, research also shows college does **not** pay off equally for everyone, especially if it is expensive, takes too long, or the degree is not very useful. So the right question is not “Should I go because everyone says I should?” It is “Will this help me enough to justify the time and cost?”
For someone like you, a smart path might be:
finish high school strong, start working in the business as much as you can, and then after high school do something practical. That could mean community college, a certificate, an apprenticeship, or targeted classes in accounting, marketing, sales, finance, or management. Then later, if you realize a four-year degree would genuinely help you, you can still do it.
Honestly, that path can be smarter than going straight into a business degree just because it sounds like the “correct” thing to do.
So my answer is:
**No, you do not need a college degree just to take over your parents’ business.**
But you **do** need skills, maturity, experience, and an understanding of how the business actually works.
If you can build those in a cheaper, more practical way, that may be the better option for you.
A good future owner is not the person with the nicest diploma. It is the person who understands the business, earns people’s respect, and knows how to make good decisions.
Good luck with your future endeavours.
___________________________________
Sources:
The official sources behind that advice were the U.S. Bureau of Labor Statistics, the Federal Reserve Bank of New York, PwC’s 2025 U.S. family business survey, College Scorecard, SBA/SBDC, and Apprenticeship.gov.
Sam recommends the following next steps: