Brothers Going Separate Ways

Running head: “Brothers Going Separate Ways or not?”

Case Study I: “Brothers Going Separate Ways or not?”

Stephen D Johnson

ENT 3004 Principles of Entrepreneurship

Florida State College Jacksonville

Professor Nancy Rossiter

“Brothers Going Separate Ways or not?”

Derrick and Kevin Petersen, twin brothers from a small town outside of Chicago, will soon graduate from a local business school. Decision time in now facing the young men in terms of career choices and tracks. While the brothers have always shared an interest in becoming business owners, their individual goals and newly acquired management training and vision may very well have them going separate ways after all these years.

The Petersen family owns and operates a very successful auto repair and towing business. The boys’ parents took over the one-man business nearly 30 years ago. Since that time, they have purchased and now maintain a fleet of seven tow trucks and have expanded the garage to include four bays that provide a wide range of auto and truck repair services. The business generates about $4,000,000 in sales, a higher than industry average profit margin, and has provided the once poor family with a very good life.

The elder Petersens are approaching retirement and would love to see one of their kids continue the tradition. Kevin and his three other siblings have come and gone and made it very clear that they want no part of the business. Derrick remains as the lone ranger and is seriously considering the opportunity. The elder Petersens are well known and respected for their quality work and service and for their active role in the community and they are having a hard time dealing with new ideas and with letting go. Derrick has many new ideas as to how he would grow the next generation of the business.

There is unused space above the garage that Derrick has talked about running into a custom auto parts showroom, also there is unused space on the property that Derrick would like to...