How Storm McGrath saved his father's company

Battered by a volatile exchange rate and other challenges, Storm McGrath has now put the family tutoring franchise back on course.

Nepotism isn't normally a problem in family business; in fact that's what it's all about. The business is either a member of the family or a family servant, either way succession is usually a family affair.

The only time that's controversial is when it's a public company, listed on the stock exchange but controlled by a family, like News Corporation, for example, or Kip McGrath Education Centres.

Bit of a difference in size and profile there of course -- KME is a Newcastle-based franchised tutoring operation, capitalised at about $13 million, although, like News Corp, it is global, with 553 centres around the world -- and most of them outside Australia.

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