Audrey Gray Sherrie Peoples

Many C-tailers have customized their businesses to last generations. But doing so successfully—and keeping the kin happy—is not as simple as it might seem. By Audrey Gray Sherrie Peoples grew up in Kinston, N.C., watching her grandfather and then her father build strong radio/TV retail businesses there from nothing. "My grandfather was the first TV electronics person in Kinston, and my father worked for him for 18 years," she remembers. "But you know how it can be in family businesses. My grandfather wouldn't give him a raise! So my father started Highland TV in 1971, when I was in high school." After watching

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