Originally Posted by
SirMike1983
It is very difficult to keep a family company going. Each generation has to enter the business, acquire the necessary skills and knowledge, run the business, and then pass it on to the next. It's not an easy thing to do. Richard deserves credit for continuing as long as he did.
Arnold, Schwinn & Co. produced adult bicycles at a time when only a very small portion of the adult population was interested, from just before WWII, through the bike boom. The youth-oriented balloon tire bikes and middleweights are well-remembered. But it is often forgotten that Schwinn soldiered on in the US market for adult bikes. They probably did not make much money on those bikes, but I credit them for sticking with it and producing some very durable, attractive touring bikes for adults in the US.
I worked for a different company in a different industry, with a similar story. They were successful and even dominant from the late teens to the late 80's. That's a tremendous success story. They failed to adapt to the transition from mechanical to electronic systems, and slowly died. Many companies, most I imagine, don't last nearly as long as these.