In this study, we seek to investigate and identify factors affecting family business succession with high post-transition performance. The case of micro family businesses in Thailand was used as a unit of analysis. A conceptual framework was developed from the literature and the succession process drawn from in-depth case studies. The determinants of family business succession are successor related factors, relationship factors, and knowledge transmission. The study provides qualitative and quantitative assessment of the proposed framework using four case studies of family business succession and forty eight family business responses collected from two business clubs. The result indicates support for the proposed framework. Successor-related factors and relationship factors are important factors affecting micro family business succession. Of these factors, external preparation through working experience has strong relationship with business succession towards high post-transition performance.