1) Identify the exit strategy you plan to make.
- I intend to maintain the business and either pass it down to my children or pass it on to one of the employees when I become too old or disinterested.
2) Why have you selected this particular exit strategy?
- I have selected this strategy as it is more of a service oriented business focused on providing quality workmanship. Therefore, it is going to take an enormous amount of time to get the business to where it needs to be and once there I don't think the payoff would be worth the effort. It would be more beneficial to reap the continuous income from the business.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept?
- The business opportunity and exit strategy have definitely defined the growth intention for the business. Therefore, it is also directly related on how I would plan to acquire and use resources.
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ReplyDeleteJeremy,
ReplyDeleteWe have similar exit strategies as I would also pass the business down to my children. I just believe that selling something you put so much work in is not worth no amount of money. You can continue making money with the business and just pass it down to your children to continue a legacy that you started. Your children can do the same and also pass the business down. This will give your family great wealth and is extremely beneficial in the long run. It is worth much more than selling your business and allowing others to profit off of something you created.
Hey Jeremy,
ReplyDeleteI also saw my business as a smaller more genuine service rather than it blowing into a huge thing. I really like how you want to pass it down to someone you trust and know would run in with your morals. Great job!
Hey Jeremy,
ReplyDeleteI think your exit strategy is wise and calculated. There are many examples of companies that stay successful when handed down through family. I would even have the family name somewhere in the name of the company; this would let people know it’s been passed down and that your mission stays true to whoever is running the business. Since my company is non-profit, it may or may not be passed down to my family. I just know that whoever takes over me will have the same drive and passion, if not more, than I have.