{{ propApi.closeIcon }}
Our industry
Our industry $vuetify.icons.faArrowRight
Economic research & forecasting Economics Housing outlook Tailored market research Economic reports & data Inspiring Australia's building professionals Business & digital Products & innovation Projects HOUSING Online The only place to get your industry news Media releases Member alerts Submissions See all
Business support
Business support $vuetify.icons.faArrowRight
Become an apprentice host Hire an apprentice Why host a HIA apprentice? Apprentice partner program Builder & manufacturer program Industry insurance Construction legal expenses insurance Construction works insurance Home warranty insurance Tradies & tool insurance Planning & safety solutions Building & planning services How can safety solutions help you? Independent site inspections Solutions for your business Contracts Online HIA Tradepass HIA SafeScan Advertise jobs Trusted support & guidance Contracts & compliance support Professional services Industrial relations Member savings Toyota vehicles Fuel savings Handy pay See all
Resources & advice
Resources & advice $vuetify.icons.faArrowRight
Building it right Building codes Australian standards Getting it right on site See all Building materials & products Concrete, bricks & walls Getting products approved Use the right products for the job See all Managing your business Dealing with contracts Handling disputes Managing your employees See all Managing your safety Falls from heights Safety rules Working with silica See all Building your business Growing your business Maintaining your business See all Other subjects COVID-19 Getting approval to build Sustainable homes See all
Careers & learning
Careers & learning $vuetify.icons.faArrowRight
A rewarding career Become an apprentice Apprenticeships on offer Frequently asked questions Study with us Find a course to suit you Qualification courses Learning on demand A job in the industry Get your builder's licence Continuing Professional Development (CPD) Find jobs
HIA community
HIA community $vuetify.icons.faArrowRight
Join HIA Sign me up How do I become a member? What's in it for me? Mates rates Get involved Become an award judge Join a committee Partner with us Our initiatives GreenSmart Kitchen, bathroom and design hub Get to know us Our members Our people Our partners Support for you Charitable Foundation Mental health program
Awards & events
Awards & events $vuetify.icons.faArrowRight
Awards Awards program People & Business Awards GreenSmart Australian Housing Awards Awards winners Regional Award winners Australian Housing Award winners 2023 Australian Home of the Year Enter online Industry events Events in the next month Economic outlook National Conference Events calendar
HIA products
HIA products $vuetify.icons.faArrowRight
Shop @ HIA Digital Australian Standards Contracts Online Shipping & delivery Purchasing T&Cs See all Products Purchase NCC 2022 Building codes & standards Economic reports Hard copy contracts Guides & manuals
About Contact Newsroom
$vuetify.icons.faMapMarker Set my location Use the field below to update your location
Change location
{{propApi.text}} {{region}} Change location
{{propApi.successMessage}} {{region}} Change location

$vuetify.icons.faPhone1300 650 620

When the time is right

When the time is right

{{ tag.label }} {{ tag.label }} $vuetify.icons.faTimes
Your business is your legacy so how to ensure it lasts when you leave? Housing spoke to two HIA members about how succession planning can make all the difference.

Gabrielle Chariton


Contributor to Housing

Succession planning is about futureproofing your business. It ensures a seamless leadership transition, without negatively impacting operational efficiencies or profitability. For family businesses – which make up a large portion of HIA’s membership – succession planning can create a financially secure future for the next generation. 

While many business owners are too busy planning next week’s workload to worry about who’ll take the reins in years to come, planning for the future delivers immediate and long-term benefits. The 2021 Family Business Survey* revealed that ‘transition ready’ businesses, with formal plans and conflict-resolution mechanisms in place, are more resilient.

So, it makes good business sense to start devising a succession plan earlier, rather than later. 

There’s no single formula to follow when developing your plan because every business and situation is different. However, common elements include communication, a focus on skill development and putting robust processes in place.

L-R: Amorini's Mitch Bosley with father, Steven and brother, Chris
Amorini’s motto is 'helping others grow'

A bouncing ball

‘If you build a business right from the get-go, it’s a bouncing ball that anyone can come in and follow,’ says Chris Bosley, Director of Sales and Marketing at Amorini Australia.

Amorini is a family-run, solutions-focused outfit that sources and supplies joinery components to kitchen companies. Planning for succession has informed how the company has been run, and its overall success, from the outset. Founded by Managing Director Steven Bosley and his brother-in-law Paul Atkins in 2004, the business was ‘built to sell’, says Chris. 

‘It wasn’t that they had the intention to sell, but when you build a business that way, you've always got the best systems and the best processes in place. This gives you the ability to pass that on as a saleable item when the time is right.’ 

Chris and his brother Mitch Bosley (who are Steven’s sons and Paul’s nephews) joined Amorini around 2010. Degree-qualified and experienced, they started, as many do at Amorini, in the warehouse and learned from the bottom up. After a few years, ‘a succession plan was coming into place that was going to be a staged rollout over a significant period of time’, Chris says. When Paul retired in 2019, Chris and Mitch were ready to buy into the business, helming the Sales and Marketing and Operations departments respectively. 

‘Those strict systems and processes were in place, so it enabled us to move into the business really neatly.’

Felicity and Eric Prior, Crest Building Group, won the 2022 HIA Australian GreenSmart Sustainable Home award
Lucas Van de Sandt and Jordan Bell with Felicity, Eric and Ben Prior. (Front L-R): Logan and Keegan Prior

Room to grow and learn

Good succession planning involves taking a long-term view and equipping key personnel with the skills to carry the business along its existing trajectory, and eventually oversee its growth or diversification. Industry veterans Eric and Felicity Prior established Crest Building in 2010, specifically with a view to handing it over to their sons in the future. Here skill development is a big part of their succession strategy. 

‘After the GFC, we decided to start the business to help our youngest son complete his apprenticeship,’ Eric explains. Two more of the couple’s six children have also done their apprenticeships in the family business, which specialises in boutique residential construction. Each is encouraged to follow their own path of expertise. 

Their eldest son, who has a degree in business management and marketing, has almost completed a qualification in commercial construction, and the youngest now holds a Certificate IV in Building. ‘They’re certainly getting the training that’s needed to progress the business and take it in a different or bigger direction as they mature and we step out,’ 
Eric says. 

At Amorini, Chris and Mitch had similar opportunities. ‘We were given time to build our way up through the business, to form our own industry networks and create our own path,’ Chris says. This is a great example of where succession planning offers ongoing benefits for the business: ‘Amorini’s motto is “helping others grow”. Brightness to the future is everything. We offer team members succession within their roles. The opportunity to grow their skillsets and develop helps us build a strong, stable workforce and futureproofs the business.’

Respect the dynamics 

Succession planning ‘is not just managing roles; is not just managing people, it’s managing personalities, especially within the dynamic of a family’, Eric says. When the time comes to pass the baton on to the next generation, he says clarity and communication are essential. 

‘We want to make sure the plan is clear and everybody’s on board. It’s important to have a structure that is external, as in a Board, to help steer the direction of the business in the long term. Being first and foremost family, our primary concern is that there’s no conflict between the siblings.’ 

Eric says the process will be different for everybody. ‘It’s very personal because it depends on the family. There has to be respect there. When everybody’s of the same mind to build up the business, it’s definitely an advantage.’

Amorini is a family-run, solutions-focused outfit
Industry veterans Eric and Felicity Prior established Crest Building

Successful succession

As successors within the family business, Chris says he and Mitch felt the weight of responsibility as they took up more senior roles within the company. ‘In the early days it was intimidating because we needed to prove ourselves – not just within the business but also within the industry.’ However, thanks to the foundations put in place by Steven and Paul, the pair are thriving in their roles, and Amorini Australia is flourishing. 

As for the future, Chris says that when the time comes, he’ll let his children find their own paths. ‘If our kids decide they want to come through, beautiful. They’ll have every opportunity. But if they choose not to, we’ll stick to the same systems and processes to give others an opportunity to grow within the organisation. 

‘And if all else fails, it’s always been built to sell.’

* Source: Family Business Survey 2021

Where to find help

Succession planning also entails legal and financial elements, such as taxation and estate planning. You should seek guidance from a lawyer, accountant or financial adviser to ensure your handover plans are correctly structured. 

For more information, visit Business online from Australian Government or Family Business Australia.

Published on 24 November 2022

You might also like:

Residential Renovations Awards Business and digital
Set up for success
National award winner Hudson Homes is focused on steady growth but not at the expense of the customer experience.
Nov 23
4 mins
Read full article $vuetify.icons.faArrowRight
Australian Standards Building developments Innovation Business and digital
Build + Tech – Summer 2023
Builders, large and small, know one thing: whatever saves you time, negates risk and improves workflow and communication is bound to be the makings of a better business. 
Nov 23
Read full article $vuetify.icons.faArrowRight
Australian Standards National Construction Code (NCC) Business and digital
Resources - summer 2023
Looking for technical information or design inspiration? Here are the latest tools to narrow your search and advance your knowledge.
Nov 23
4 mins
Read full article $vuetify.icons.faArrowRight
Business and digital Trends Safety
Resources - spring 2023
Looking for technical information or design inspiration? Here are the latest tools to narrow your search and advance your knowledge.
Aug 23
2 min
Read full article $vuetify.icons.faArrowRight
Business and digital Expenses Small business
What's in it for me?
HIA provides members with a large range of industry products and services to help you manage, operate and grow your business. Here are some benefits you can access today.
Aug 23
5 min
Read full article $vuetify.icons.faArrowRight
Business and digital Business operations Construction Customer service Digital marketing
Pride and passion
From custom homes to specialised housing projects, Ben Garraway of Garraway Developments is passionate about quality construction and delivering beautiful homes in regional Victoria.
Aug 23
6 min
Read full article $vuetify.icons.faArrowRight
National Construction Code (NCC) Sustainability Accounting Business and digital
Resources - winter 2023
Looking for technical information or design inspiration? Housing rounds up the latest tools to advance your knowledge.
Jun 23
3 min
Read full article $vuetify.icons.faArrowRight
Budget Renovations Construction Business and digital
To chatbot or not
A jump into virtual technology is resonating for Trendsetter Homes. With a clientele now wedded to life online, the dividends speak for themselves.
May 23
4 min
Read full article $vuetify.icons.faArrowRight
Work Health and Safety (WHS) Wellbeing Safety Business and digital
Back in business
Addressing any back and neck pain you may be experiencing at work is necessary not just for your daily comfort but for your long-term wellbeing as well.
Apr 23
7 min
Read full article $vuetify.icons.faArrowRight
Business systems Networking Small business Business and digital
How safe is your website?
Is your network secure? Your IT network security should protect you from within, but how do you ensure you have the right safeguards in your systems?
Apr 23
4 min
Read full article $vuetify.icons.faArrowRight
Superannuation Financial planning Small business Business and digital
Boost your super
Superannuation may seem complex and – to be honest – not that exciting. But it becomes more appealing when you realise all the perks and strategies that will give your super a real boost.
Apr 23
5 min
Read full article $vuetify.icons.faArrowRight
Business systems Education CPD Business and digital
Resources autumn 2023
Looking for technical information or design inspiration? Here are the latest tools to narrow your search and advance your knowledge.
Apr 23
1 min
Read full article $vuetify.icons.faArrowRight