1. I believe my exit strategy will be dependent on a variety of factors. But if I had to pick a certain exit strategy given the correct events, then I would choose to sell my business for a return after some time. The amount of time that it would take also depends on certain things. For instance, if in 5 years I can sell my business for a large enough return to retire, then I will sell it after 5 years.
2. I have selected this strategy because given a large enough return, I can safely invest that money into an annuity type account and live off the returns for the rest of my life. Obviously that would require a hefty down payment, but if I can make it happen, then I will be a happy man. I am willing to put in the time required to grow my business in order to make that required return. I am not the type of person to pursue more profits for the sake of profits.
3. My exit strategy will influence my business plan. For however long it takes me to grow my business, that is how long I will tend and nurture it. I wish to grow that business to the point where I can sell it to someone trustworthy, and live off the return as a retirement.
Hi Phillip - I hope you are doing well once again! I really enjoyed reading about your business plan once again, and reading the details about your exit strategy. It is always important to think with the end in mind when considering the logistics of a business in the beginning. Good luck!
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