Long & McQuade is one of Canada’s biggest and most popular retailer of musical instruments. Since Jack Long first launched the company back in 1956, it has grown to be one of Canada’s most successful family business with 62 stores across 10 provinces and an annual revenue of $300 million.

Jack’s son, Steve Long is currently holding the throne, has recently revealed some secrets to his family company’s success.  Their business plan which only comprised of only corporately owned stores, with no franchising at all as they prefer to keep an intimate and family owned feel. Also they avoid taking business from smaller music stores but rather they take over small music where the owners cannot handle the amount of time it requires or the owners may be too old to continue their business. They avoid franchising because of their strict ties to their business model it would be ‘counter-intuitive’.  They also strive for customer loyalty and have developed an in house financing program, which allows them to be a lot more flexible with the ‘artistic type’ who may not always be on time with their credit card payments. This more classic method of doing business allows for their indisputable success.

Source: http://www.theglobeandmail.com/report-on-business/small-business/sb-growth/long-mcquade-ceo-on-family-owned-business-success/article15478894/