If the family goes for a retail business it will become easy for them to distribute the returns equally or in a desired proportion among the family members. But starting a retail business will require more effort and time to be put in by the family embers because retail business only succeeds well when the owners carefully look after the operations themselves. Outsourcing the supervision of operations by hiring some person out of family may not serve in the best interest of family because it is going to be a new venture and anyone outside the family of owners will not be able to understand all the dynamics associated with the business effectively. In addition to this to start up a new business you have to put more efforts and any person that is being paid to perform a certain task or job will not be that’s t much motivated towards success of business as the Lee family would be. There is another possibility that if Lee’s family does not have sufficient time to dedicate for the retail business then they will have to go for a hiring of a manager operations for their retail business.
A factor that is quite positively associated with the retail businesses is that these businesses are not that much risky as compared to other alternatives available. Being risk averse Lee family can opt for retail business due to the reason that less risk is going to be associated with a retail business. In order to success in carrying out a new retail business they will have to introduce more differentiated products in their product line. In addition to this they will have to introduce much more packages and offers on their retail stores because these days’ consumers are attracted more by offers and packages rather than built in attributes and qualities of products being offered at the retail stores.