Torn Between Teaching and Taking Over the Family Business: What Would You Do?

reddybethi
Harrison T. Wenk III is 43, married, and has two children, ages 10 and 14. He has a master's degree in education and teaches junior high school music in a small town in Ohio. Harrison's father passed away two months ago, leaving his only child an unusual business opportunity. According to his father's will, Harrison has 12 months to become active in the family food-catering business, Kare-Full Katering, Inc., or it will be sold to two key employees for a reasonable and fair price. If Harrison becomes involved, the two employees have the option to purchase a significant, but less than majority, interest in the firm. Harrison's only involvement with this business, which his grandfather established, was as an hourly employee during high school and college summers. He is confident that he could learn and perhaps enjoy the marketing side of the business, and that he could retain the long-time head of accounting/finance. But he would never really enjoy day-to-day operations. In fact, he is considering whether to take this opportunity or continue his teaching career.
shalini.shalinijm83@gmail.com
Operations Activities Worksheet for Harrison

1. Prepare a worksheet of operations activities that Harrison should inquire about this summer.

Decision-Making for Harrison

2. If you were Harrison, what would you do? Why?
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute