The Framemakers – Case Study Example
The Framemakers The Framemakers is a case study that involves a couple, Robert and Teresa. The two have separately been entrepreneurial and resorted to take over and run a family business. The business however promises little room for expansion leading to ideas of venturing into other businesses. While considering opportunities for possible ventures, Robert comes across a store that inspires him. He inquires and learns of a possible franchise with a business organization but can as well establish his own business in the same line. He then resorts to quitting from the family business and working out modalities for establishing their own business with Teresa (Wesley, 2000).
Statement of the problem
The case therefore identifies ‘establishment of a business enterprise with opportunity for growth’ as the problem statement. This can be explored from a number of perspectives in the alternative avenues that Robert and Teresa have for developing their dream enterprise. The problem would be solved by analyzing the alternatives to answer the question, which of the available alternatives would offer Robert and Teresa a business opportunity with the largest room for expansion? (Wesley, 2000).
Review of alternatives
One of the available alternatives is the family business that is already set and is running. This alternative does not require capital investment but has limited room for growth. Another alternative is operating a franchise with U-Frame-It. This offers an established brand name and goodwill with a good start for the business. It however requires purchase of the goodwill, a periodic percentage subscription from sales conditional operations (Gitman and McDaniel, 2008). The last alternative for the Roberts is developing their own business in the identified field. Even though this would slowly pick up as a new venture and would require financial strain to start up, it is independent from any possible attachment and promises growth in the identified large market (Wesley, 2000).
The Roberts should therefore embrace the financial and administrative challenges and work hard towards establishing their own business in the identified line.
Gitman, L. and McDaniel, C. (2008). The future of business: The essentials. Mason, OH: Cengage Learning.
Wesley, B. (2000). Canadian entrepreneurship and small business management. Ontario: McGraw-Hill Ryerson, Limited.