This research proposes a conceptual model for investigating succession challenges in family-owned enterprises, focusing on Oman. These businesses are fundamental to economic advancement, substantially influencing employment and GDP growth. The model, rooted in Keltner’s Approach/Inhibition Theory of Power, Guinote’s Situated Focus Theory of Power, and Smith and Trope’s Control and Agency Theory of Power, examines crucial aspects such as leadership continuity, intergenerational dynamics, strategic adaptability, and the equilibrium between familial values and commercial imperatives. Empirical data derived from interviews with the family business incumbent leaders, augmented by insights from grey literature and industry reports, informs the identification of key succession obstacles. These encompass resistance to relinquishing control, successor preparedness, and the function of advisory roles post-transition alongside cultural and psychological influences affecting decision-making. Collectively, these factors influence the sustained viability and long-term competitiveness of family enterprises. The analysis underscores the significance of structured succession planning in facilitating leadership transitions that preserve family legacies whilst contributing to broader economic stability and sustainable business growth.