Handing the business over to the next generation

By Mike Switzer

Published July 3, 2025 at 6:30 AM EDT

Mike Switzer, host of the South Carolina Business Review

Many small businesses are started by first generation entrepreneurs. And eventually, if the business is successful, that owner may want to pass the business on to the next generation. Our next guest says there are a lot of things to consider before that happens. Mike Switzer interviews Bill Edmunds, owner of Northstar Leadership in Lexington, SC.

Tags

Mike Switzer

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.

See stories by Mike Switzer