Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

Depending on the success and growth of the business, I may decide to make a career out of running it. As I discussed in the last few posts, I would love to expand the business into other states and make it a nation wide service. Because of my dreams of grandeur I think the best exit strategy for me would to retire at the end of my career and pass leadership over to the person who would know the company best and was most qualified to run it. 

2) Why have you selected this particular exit strategy?

I selected this strategy mainly because it felt like the most professional and logical thing to do. Of course, many things can change in the course of a businesses life but if the company becomes a franchise or a national name there are certain procedures that would have to be implemented. 

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

My exit strategy has influenced the other decisions I made within my concept by firming up my desire of wanting to expand. I think expansion would be the best next move and take the company to a whole other level. Due to the desire to expand I will most definitely need to recruit many more employees and set up an executive board to help make al decisions.