I have no plans of
protecting my venture to pass it down to my children as a family business. I
also don’t plan on staying with my business for more than ten years. My exit
strategy is to sell my business in 5-10 years for a large return.
A sports bar in Gainesville
is not something that I want to be in charge of my whole life. My sports bar
can be used as a stepping-stone that gives me experience and some money in my
pocket. I would love to work out my sports bar; I’m not saying that. However, after
a few years it will be time to move on to bigger and better things.
My exit strategy definitely
has influenced other decisions I have made about my company. I want to make a
profit and I want a profit relatively fast so I am more willing to take risks.
Also, I intend on growing very fast so I need plenty of resources. I will aggressively
pursue opportunities to grow my venture.
Mason,
ReplyDeleteI read one person's post who wanted to stay with her business until the age of 65 and retire, while someone else wanted to sell their business and retire early. I think that your exit strategy is a bit more feasible simply because a Gainesville bar would probably just be a profit on the side if you decided to stay with it, since there are already so many out there. Making a profit is probably the best way to go and then perhaps you can use that profit to invest in another location or other property. Either way, if you decide to pursue your venture, I wish you much success and good luck on your classes!
Here is the link to my exit strategy:
http://nataliem775.blogspot.com/2016/03/my-exit-strategy.html
Mason I totally support the idea of selling your company in 5 years and then using the money to start something greater. A sport's bar is a nice venture, but you could introduce something in the market that can have another impact and that you have also passion about. I like how in the end you wrote about what your goals are for the future. Good job! This is my exit strategy: http://ent303uf.blogspot.com/2016/04/my-exit-strategy.html
ReplyDelete