The thesis, based on the analysis of the literature and previous research, presents previous knowledge regarding the transfer of business to the next generation in a family business. The problem of research is inexperience and fear of business transfer, that is transfer of management and ownership to the next generation in a family business. The subject of the research is the transfer of business to the next generation in the family company Grad-Export d.o.o. with two founders and co-owners. This situation is specific because there are several heirs from both families. The founders are aware that they need to manage the transition process in order to maintain successful business, family and family ties, and the future of the company. Several methods and sources of data were used. Interviews were conducted with founders, management, heirs, other family members and representatives of the most important stakeholders (employees, suppliers and distributors). The survey concludes that the founders want all heirs to inherit a percentage of ownership in the company and to be employees. The transition process is planned over the next ten years. During this period, the successors will take over the management positions, while the founders will be on the supervisory board, and will advise the successors in strategic decisions. The founders are recommended to draft a written will and family constitution on the topics of decision-making, transfer of management and ownership, growth strategy and dealing with the company's profits. The contribution of this paper is to present a case study of a family business with two in-laws co-founders and co-owners. For further research, a comparative analysis of several similar family businesses with multiple successors is recommended.