The City of Fullerton is home to a vibrant entrepreneurial community, with family-owned businesses serving as a cornerstone of the local economy.

The family business sector in Fullerton is the subject of a new report researched and published by Tim Schultz, the head of the Center for Family Business. Associate Professor of Management Chethan Srikant and Woods Center Director and Dean Emeritus Anil Puri edited and critically reviewed the report.

Family-Owned Firms Are the Economic Engine of Fullerton

In the City of Fullerton, 79% of local enterprises are family-owned, employing 54.2% of employees in the city and generating 55.7% of revenue earned in the city.

“Because many of these firms are locally rooted and often operate across generations, they contribute not only to economic activity but also to community stability and resilience,” reports Schultz.

“Policies and initiatives that strengthen family businesses—such as support for entrepreneurship, access to capital, workforce development, and successful generational transitions—will help ensure that these enterprises continue to drive growth, innovation, and opportunity in Fullerton for decades to come.”

Schultz reports that many of the city’s professional service businesses are family-owned, with attorneys, accountants and tax professionals, management consultants, psychologists and therapists, and dentists and medical practices leading the way. More than 85% of firms in this sector are family-owned, often operating in the city over multiple generations.

Additionally, family businesses are also common among local retailers and personal services businesses, such as beauty salons and barber shops and restaurants. In the real estate sector, 75% of residential and commercial rental businesses are family-owned.

To a lesser but still significant extent, the manufacturing sector, concentrated in west and south Fullerton, includes many family-owned factories, some of which have persisted for generations.

“One of the most significant findings from the sector analysis is the diversity of industries represented by family businesses. Family-owned firms operate in nearly every segment of the local economy, from highly specialized professional services to small neighborhood retail establishments,” explains Schultz. “This diversity contributes to economic resilience by distributing economic activity across multiple industries rather than concentrating it within a few sectors. As a result, the health of the local economy is supported by thousands of independent businesses serving a wide variety of markets.”

Both Startups and Multigenerational Firms Are Majority Family-Owned

In Fullerton, family businesses are the majority throughout the corporate lifecycle. Among the 736 startups in operation for less than two years, 82.6% are family-owned. But 61.7% of the businesses operating between 50 and 74 years and all four in existence for more than 75 years are also family-owned.

Multi-generational continuity has always been a cornerstone of the focus of the Center for Family Business since it was formed in 1995. As Schultz explains, “Businesses that have operated for 25 years or more represent an important group of established companies that contribute to the stability of the local economy. These firms often possess deep institutional knowledge, strong customer relationships, and longstanding ties to the community. In many cases, these businesses have transitioned from one generation of family leadership to the next, creating multi-generational enterprises that remain rooted in the city.”

From an employment standpoint, the average family-owned business employs five workers, and provide numerous opportunities for entry-level employment, career growth, and long-term vocational relationships.

Schultz utilized an analysis of active business licenses in the City of Fullerton as of July 31, 2025, to develop the analysis of the city’s 4,046 family-owned entities.

Read the entire report on the center’s website.

For More on the Center for Family Business

From annual peer-nominated awards to workshops to help family businesses succeed to a growing network, the Center for Family Business offers numerous opportunities for local family-owned firms to identify and develop best practices and reach their goals. For more on the center, read more of our articles on family business.