Pros
you will be very hands on as long as you are not doing somethign that the owners would prefer to put their own hands on and in that case you will learn that they are not very good to delegating authority, they want to be the authority on things because they don't trust people to make decisions (and you should develop the ability to read their minds)
Cons
one of the principles yells a lot and uses foul language (four letter words to say the least) and berates people and says things that she thinks are jokes but are in fact just plain racism and sexism and homophobia. she deals in stereotype and doesn't see people as individuals. she is a bully because she is insecure. i wonder if this goes on because it is owned privately, i know it would not float in a corporation where there are standards for behavior. i know bosses yell etc everywhere but this is extreme. people leave sometimes after a few days