--- title: "Succession Planning Sets Up Good Oil’s Third Generation for Success" url: https://burnaze.com/article/1ec79cf0-e8dc-4fb6-beca-4c42d798dc55 source: "CStore Decisions" original_url: https://cstoredecisions.com/succession-planning-sets-up-good-oils-third-generation-for-success/ author: "Erin Del Conte" category: "Retail" industry: "Retail" published: 2026-07-15T14:18:16.000Z modified: 2026-10-31T13:17:56.762Z image: https://cstoredecisions.com/wp-content/uploads/2026/07/Don-Good-.jpg --- # Succession Planning Sets Up Good Oil’s Third Generation for Success **TL;DR:** Good Oil, a family-owned retailer, is celebrating its 85th anniversary and has successfully transitioned to its third generation of leadership. The company's new leaders, CEO Nikki Earp and president Wyatt Good, credit their parents for setting them up for success through succession planning and a strong company culture. *By Erin Del Conte, originally published in CStore Decisions on 2026-07-15. [Read the original](https://cstoredecisions.com/succession-planning-sets-up-good-oils-third-generation-for-success/).* ## Story As the family-owned retailer celebrates its 85th anniversary, its new leaders discuss the lessons, planning and culture behind a successful generational transition. Good Oil, now helmed by the third generation of the family business, is celebrating 85 years in business in 2026. The chain was founded by Don Good Sr. and his wife Mary Good, in Monterey, Ind., in 1941, and got its start as a small petroleum supplier serving local farms and homes. Their sons — Don Jr. and Dean — joined the business and developed the convenience store end of the company. They opened their first c-store in 1971 in Winamac, Ind., where the company’s headquarters are today. Succession planning in a family business isn’t for the faint of heart, but CEO Nikki Earp and president Wyatt Good credit their parents for setting them up for success by preparing them to lead and making the transition, which is still underway, as easy as possible. Don Jr. and Dean are now finalizing the passing of the torch to the next generation with Don Jr. transitioning out of the president role, and Dean continuing to oversee environmental compliance but stepping back from day-to-day operations. “They set us up for a really good foundation coming in, with a very strong, financially healthy company that allowed us to look for continued growth,” Earp said. One of the most significant contributions of the second generation to the business has been its deep commitment to community involvement, Good pointed out. “That was a big thing that they’ve built throughout the years — just how Good Oil has interacted with the communities and has given back, along with employees,” he said. “Even to this day, the family has a very close relationship with, not only the employees, but also the customers, and I think that’s something that they’ve instilled in Nikki and I. …” The key to keeping a family-owned c-store chain successful across three generations and counting goes back to surrounding yourself with great people, Earp noted. “You can’t build anything if you don’t have a strong support team (where) you support them and they support you and build long-lasting relationships with your customers. We have employees that have been with us over 30-some years. One of them used to tuck me into bed at night when I visited her daughter. So, you have those trustworthy people that help you along the way,” Earp said. Knowing your customers is also key, she said. “I’ve known some of the customers since I was in elementary school, and they met my daughter when she was a baby, and now she’s painting their gas stations, so it’s fun to watch.” Those close relationships with team members and customers make the business successful and worthwhile, she added. Earp and Good’s advice to other members of family-owned businesses is to be patient with each other and plan proactively for the future. “Start early and have conversations to set expectations, (such as) what those roles look like and timelines,” Earp said. “Don’t be scared to get outside help to help push that progress along.” Good concurred that it’s important to have tough conversations. “Those are easy to avoid in family businesses. Nobody wants to hurt anybody’s feelings, but you know those tough conversations are part of it,” he said. “Get those processes and policies in place that help guide everybody to avoid any type of conflict or rub points that may arise. Get those things in place ahead of time, so everybody knows the expectations.” Good also credits his family’s practice of requiring family members to begin at the ground level and work their way up through the business in setting them up for a successful transition into leadership. “You understand all areas because you’ve done it, and you can relate to the employees when they have something that arises. You can have those conversations and help them work through it, because you understand it,” Good said. ## Entities - Retail (sector) - community involvement (topic) - family business (topic) - leadership (topic) - CStore Decisions (publication) - succession planning (topic) - Erin Del Conte (person) - Good Oil (company) - Nikki Earp (person) - Wyatt Good (person) - Don Good Sr. (person) - Mary Good (person) --- Originally reported by Erin Del Conte, CStore Decisions (https://cstoredecisions.com/succession-planning-sets-up-good-oils-third-generation-for-success/). Summarized by Burnaze (https://burnaze.com/article/1ec79cf0-e8dc-4fb6-beca-4c42d798dc55).