Minority-Owned Family Businesses Work To Build Generational Wealth

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According to the U.S. Senate Committee on Small Businesses, minorities make up 32% of the total population, but only 18% own their own business.

Some North Texas families are trying to improve these statistics and help build generational wealth for their family's future through entrepreneurship.

At the heart of most small businesses, there is a passion.

“It's a family-owned business that's inspired by our grandfather Poppy Hays Robins," owner of Poppy’s Wings Louis Chatman said.

Louis Chatman and his relatives operate Poppy's Wings and catering in McKinney.  A family business with long-term plans.

"We have to have something for our next generation," Chatman said.

Chatman said leaving wealth for the next generation isn't always easy to do in minority communities.

"As far as our community a lot of times we start behind the eight ball,” Chatman said. “But I think with something that we can have of our own it helps us to get, we won't have to start out as far back as we normally have to start out at."

According to the U.S. Senate Committee on Small Business and Entrepreneurship in the last 10 years minority businesses make up 50% of the two million new businesses started in the U.S.  But despite this growth, there is still disparity when it comes to getting financing, contracts, and other development opportunities.

"We do everything auto glass that you can think of," Sally Quezada of Platinum Auto Glass said.

The Quezadas are working to overcome those hurdles. They own Platinum Auto Glass in Lewisville.

"I'm the first one in my family, of 11 kids, that has done something as far as a business pushing myself to have something of my own," Platinum Auto Glass owner Fred Quezada said.

A business he wants to grow and pass down to his children.

"He's doing this for the family and long term to have them run it,” Sally Quezada said. “So that's where Platinum Auto Glass came."

"Financial stability for my family,” Fred Quezada said. “For the future. Especially for my kids."

His kids are already getting hands-on experience with the business and appreciate the financial future their parents are creating for them.

"It's just a good feeling knowing that me and my siblings are going to be taken care of especially the younger ones,” daughter Sonia Quezada said. “I have a younger special needs sister who I also caregive for a lot, so having that financial security is important."

These minority-owned family businesses are working against the odds to help build a better future.

"Working together and that stability, financial stability, for them long term that will help them in the future," Sally Quezada said.

Their goal is to set up wealth for future generations.

"If they are able to have a better life or start their life in a better position than I was, hopefully, their grandchildren and their grandchildren can start off a little bit better," Chatman said.

Starting better can make the race a little easier in the long run.

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