That applies to hard assets, like a truck, inventory of hardware, power tools, etc. The real value in a business such as this is in the local brand recognition

That applies to hard assets, like a truck, inventory of hardware, power tools, etc. The real value in a business such as this is in the local brand recognition (usually applied to the name of the proprietor), a reputation for honesty and good service, and a list of customers with their contact information. So in that sense, a father probably could reasonably transfer or transition ownership to his son, it would just have to be done in a multi-step, gradual manner.