Fischer Car Wash Case Study

Background:
• Review the history of the family-owned car wash.
• Describe the unexpected death of Richard Russell and its effect on the business and the
Russell family.
• Describe the following family members: Richard, Jeanie, Chase, Eddie
• Describe the importance of succession planning for family businesses.
• Describe the incentives and compensation disagreement among family members.
• Describe the fraud that was discovered and its impact on the company.

Issue:
How can disagreements be resolved so that the company can be successful?
Alternatives:
1. Go bankrupt during the 2008 recession.
2. Identify specific tactics for radical business transformation.
3. Resolve the incentives and compensation disagreement.
4. Etc…..(Suggest Alternatives of your own.)

Analysis of Alternatives:
There can be more than one Optimal Alternative. There are articles on succession planning for
family businesses that can be helpful:
• Tabor & Vardaman, HBR, May 15, 2020
• Stalk & Foley, HBR, Jan.-Feb., 2012
• DiLoreto & Romman, HBR, Jan. 30, 2020

Don’t forget Chase’s career/life aspirations – we don’t want him to be frustrated for the rest of
his life. What happened? Chase bought into the business and has ownership. Chase and Fischer
opened another business together – a legal cannabis retail store. During this situation, Chase
stopped talking to his mother for 3 months. They eventually agreed to an incremental
ownership transfer, and their relationship recovered. The business is now doing so well that
Chase has received offers from investors to sell.
Recommendation: Just a few sentences.