9531 Small Business Management Assessment Answer

In Chapter 2 "Your Business Idea: The Quest for Value", Robert Rainsford was introduced in the FRANK’S ALL-AMERICAN BARBEQUE case. He has returned to the family business and is very enthusiastic about expanding the business. He has identified four options: (a) expanding the restaurant either at its current site or elsewhere in Fairfield; (b) opening several similar-sized restaurants in nearby towns; (c) using the Internet to expand sales; and (d) expanding the sales of Frank’s sauces from a local store to a regional supermarket chain. Any one of these ideas would represent a change from his father’s business model. Given that he had not expressed any interest in the management of the business, how should he go about approaching his father with these ideas?. Hint: The question is not asking what he should do but rather how he should do it. What does he need to do, research, have in place etc before he presents to his father. How should this be presented? If the company expands, should Robert approach his sister and her husband about taking a more active role in the business? Why? What should their roles be? ENSURE you read the case study guide and review the case study and relevant sections in the textbook Small Business Management in the 21st Century before answering any question.