Legacy Planning in Hospitality: 4 Benefits of Hiring Morrissey Hospitality to Plan for the Future

Updated: September 8

It’s no secret that running a family business — especially in hospitality — can be complicated. Countless shows and movies have been made about rivalries and broken trust, and long lists of ruined relationships and closed concepts are written in business journals around the world. So, it’s no wonder you may be nervous about planning your exit strategy, or starting to plan the legacy of your hospitality business.

Maybe you dream of selling your hospitality to the highest bidder. Perhaps, you’d like to expand your operation into different locations or start new concepts. Or maybe, you’re finally ready to take the time you’ve earned to reconnect and relax.

No matter your next moves, working with an experienced hospitality management company to plan and prepare your exit strategy is a worthwhile investment. With over 30 years of experience in hospitality management Morrissey Hospitality has the experience and industry knowledge you need to navigate your exit strategy and legacy planning. And, as a family-owned and operated business ourselves, we have an intimate understanding of the complexities of preparing for and planning an exit.

By hiring Morrissey Hospitality to help with your company’s legacy planning, you’ll experience all the benefits of working with family, without any of the downsides, drawbacks or drama.

1. Morrissey Hospitality is fair, consistent, and unbiased.

At Morrissey Hospitality, we know that big decisions like legacy planning are often challenging and emotionally charged. When emotions run high, it can be difficult to be objective about what is best for your business, for your guests, and for your loved ones — let alone the complicated and complex financial and logistical arrangements of a major operational change.

When you hire a hospitality management company like Morrissey Hospitality, you invest in a consistent, fair and unbiased partner to help with your business’s legacy plan. With over 30 years of experience in hospitality management, and a well-rounded team of experts in operations, financial services, management, marketing and more, the Morrissey team will guide you through the complexities of building a successful strategy — keeping you focused on what matters most.

2. The Morrissey Hospitality team is trustworthy.

Morrissey Hospitality has been a trustworthy hospitality leader in the Upper Midwest for over 30 years. We have developed deep and lasting relationships with our guests, community leaders, and hospitality clients — relationships built upon accountability, authenticity, and trust.

As a family-owned business that had to unexpectedly navigate our own company’s legacy plan, we understand the nuances, complexities, and dynamics of legacy planning and creating an exit strategy. We’ve been in your position, and have guided many other business owners through the process of planning for their exit strategy. Whether you are poised to sell, setting up a successful succession strategy, or simply ready to retire, you can trust the team at Morrissey Hospitality to have your back every step of the way.

3. Morrissey Hospitality is knowledgeable and experienced.

With more than three decades of experience in hospitality management, our team has learned a thing or two about successful legacy planning in our industry. With so many details to consider — whether financial, operational, logistical, or even emotional — business owners looking to transition their business can be understandably overwhelmed.

At Morrissey Hospitality, our passionate team of multi-disciplinary hospitality experts will guide you through even the most complicated or convoluted details of your business’s legacy plan. We’ll use our decades of experience and industry knowledge to help you make the best decisions for your business and for your family’s future.

4: Morrissey Hospitality shares your purpose.

Morrissey Hospitality partners with our hospitality clients toward a common, shared purpose — creating the best legacy plan possible for your unique family business. As hospitality professionals and family business owners ourselves, we share your passion for hospitality, and respect the values you hold. Our team members inherently understand the unique challenges that business owners in the hospitality industry may face when planning for the future of their business and will help you find the solutions that fit your unique company.

At Morrissey Hospitality, we thrive in partnership with other passionate, driven hospitality professionals. We believe that by forging meaningful relationships with our clients, we can exceed expectations and inspire success. We are passionate about what we do, and work tirelessly with our clients to plan their company’s future, drive results and create a legacy plan that fits their family business.

Your Partner in Legacy Planning

While plenty of restaurant consultants and hospitality management professionals can offer advice, hiring an unbiased, trustworthy, experienced partner to help you plan the legacy of your business is an important investment in your family’s future. With the help of Morrissey Hospitality, you can be confident that when you step away from your business, your loved ones, your guests — and you — are getting the best

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