Case Detail

Case Summary

Creating a Family Business: The Genesis of Rogers Family Enterprises

Case Number: 5-210-254, Year Published: 2010

HBS Number: KEL567

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Authors: John Ward; Susan Schwendener; Scott Whitaker

Key Concepts

Family Business, Entrepreneurship, Real Estate, Analytical Tools

Abstract

Steven Rogers had always thought that someday he would like to own a business with one or both of his daughters. As his eldest daughter, Akilah, finished her final semester at Harvard Business School, she told Rogers that she would like to create with him a Chicago-based real estate venture that included buying, rehabbing and renting homes in the Englewood and South Shore neighborhoods of Chicago.
Rogers quickly realized that his biggest challenge was how to equitably structure the ownership of the business. He gathered advice from family business experts and slowly began to build a plan that would benefit each member of his family. Meanwhile, Akilah assumed responsibilities associated with the business as she finished her final semester at HBS. The case ends with Rogers Family Enterprises owning its first three houses.

Learning Objectives

1. Students learn how to construct an equitable business ownership plan for a family business.
2. Students learn the agreements that family businesses should have in place.
3. Students learn why successful entrepreneurs tend to be those who control the growth of their company while envisioning an empire.

Number of Pages: 10

Extended Case Information

Teaching Areas: Entrepreneurship, Family Business

Teaching Note Available: Yes

Geographic: Chicago, Illinois, United States

Industry: Real Estate

Organization Name: Rogers Family Enterprises

Organization Size: Small

Decision Maker Position: Founder, Family Business

Decision Maker Gender: Male

Year of Case: 2010