Ideally my exit strategy would be to build the business and sell it when I can realize a healthy return on my investment. Since my idea requires a large capital investment this might take quite a few years. After selling my business I could invest in other things that require less time commitments such as land, real estate, stocks, or other people businesses.
I think I have picked this particular strategy because I like variety. When I have accomplished one of my goals I like to set new ones. That way I always have something to strive for that will keep me hungry.
This strategy has influenced my plans slightly. I would like to buy two parcels of land and just use one first. Then is growth is good I could invest in another gas station. This would help overall growth of my company so I could sell much sooner.
I really like your idea of buying two plots of land, but only using one at first so that you are giving yourself the ability to expand and grow your business later. The growth would make your business worth more in your selling of the business so it would help you exit the business and begin a new one faster.
ReplyDeleteBradley,
ReplyDeleteIt seems like you have a good exit plan. Once you cash out then you can do whatever you want. One important thing to consider is how attached you are to your business. Are you doing the entire venture to create something that will be in your family for 100 years, or are you doing it to make money?
Hey Bradley,
ReplyDeleteI think that your exit strategy is a pretty good one! I do not blame you at all. At the beginning of your venture, I think that business will be booming! It will be fresh and new and it will make you a lot of money. In a few years, you will have plenty of money to sell and start a new venture. You may even be able to keep that one while hiring someone else to run it. I have thought that you have had a great idea the whole semester, and now I think you have a good exit strategy as well.
-Dakota Horlocker