Pros
If you are related to or are close personal friends with the owners this is probably a nice place to work, you can expect a great salary even without a degree or experience and your salary will be significantly higher than people who have worked there for years, have specialized degrees, a track record of helping to grow revenue and many, many more years of experience.
Cons
If you are not white you are guaranteed to be amongst the lowest paid employees in the company no matter how high up the ladder you climb. Putting in years and helping to build the company will be rewarded with 0 bonuses or raises and a huge chance of being blindsided and losing your job. Being good at your job, having a degree and helping to grow the business doesn't mean anything at the inside coup. Expect to be blindsided by the CEO and lose your job at anytime, he has blindsided many, many employees except for his close personal friends and family of course. Hard work and loyalty do not pay off at the inside coup, only a select few (family and friends of the owners) are deemed worthy of bonuses and raises.