One of the prime reasons family businesses fail to recognize the value of education in their operations is a lack of knowledge about the benefits. All too frequently, business-owning families fail to appropriately plan for the continuity of their operations, which can have terrible effects on all fronts. In many families, the succeeding generation questions seniors about the company’s mission and why they do what they do. In this regard, the Zahalka family can be taken under discussion considering the way they started their business and how the eldest son of the family, Karam Zahalka, was passed the torch to lead the business.
Karam Zahalka was born to a Muslim family on December 22, 2002, in Haifa, Israel. Since he spent his childhood around businesses and academics, it compelled him to acquire an education before joining his father in his business. He attended Al Carma Seminary High School in Haifa. He later attended Ono Academic College to pursue an education in business administration.
Today, at the age of only 22, Zahalka has played a key role in the growth of his family business. His father, Riad Zahalka, had a small aluminum fabrication company. When the torch is passed to lead a family-own business, it becomes a huge responsibility for an emerging businessman at such a young age. For Zahalka, his best friend is his father, who took him under his wing to take their business reach new heights. Under his father’s shadow and his own intelligence as a businessman, he has stretched his business to Dubai.
Under his father’s tutelage, Zahalka grew the once-small aluminum factory into a large and worldwide corporation in 2021 when he established the company’s operations in Dubai. The following year in 2022, Zahalka made a conscious decision to launch Urban C Real Estate company shifting his focus to real estate projects, buildings, and renovating buildings. By late 2022, his company had spread its operations in Israel.
Zahalka understands his responsibilities and the ongoing technological trends since he is from a different and new generation. He even provides financial assistance to startup businesses by investing in them to promote technological advancements in Israel.
Zahalka launched “Tiberius Honey Spoon” out of his childhood fascination with honey. On a visit to Turkey, Zahalka became more interested in the honey spoon industry. With his father’s and family’s help, he created a business in his birthplace, Kfar Kara, to produce honey spoons of various flavors. He opted to explore honey until he discovered a formula for preparing a honey foundation for various drinks and delicacies such as tea, hot and cold yogurts, and ice creams using a teaspoon of flavored honey.
Transitioning from one generation of senior management to the next is one of the most excruciating processes that any corporation confronts. The issue is frequently particularly serious in family businesses. For Zahalka, it is a blessing that he has a supportive father by his side to encourage him to grow their business. With the confidence of his father, Karam Zahalka is on a mission to spread the family business in different parts of the world.
Getting into a family business can be an exciting opportunity and bring lucrative results. But merging personal and professional lives can be both rewarding and problematic at the same time. The nicest thing about working with a family is that it builds mutual understanding, and family members can compensate for each other’s shortcomings. Zahalka family, most importantly, the bond between Karam Zahalka and his father reflects how a business can ascend heights even if the is passed onto a family member from a newer generation.
Every generation has a different school of thought, especially the youth, who have a different lens of looking at things and can catch up with the ongoing business trends. Put simply, Karam Zahalka, who at a very young age understood the business dynamics and his business intellect, has shown fruitful results. He has not only enlarged the business, but he has also created several businesses under the umbrella of the original one. Karam Zahalka still has a long way to go before reaching the pinnacle of his game. His passion and dedication have helped him pave his way to the list of successful young businessmen.
