1) Once I have developed a functional dollar superstore with an established customer base, I intend on selling the company to either a dollar store, such as Dollar Tree, or a larger retailer, such as Walmart. I would also be open to selling the company in an earlier stage of development. I do not intend to continue with the company long-term.
2) I have selected this particular exit strategy, because retail is not an industry that I would be interested in pursuing long-term. I would rather sell the business early and then pursue other interests.
3) This exit strategy has influenced my decisions for the business, because I have kept all of my plans for the business relatively short term. Therefore, the opportunities I have identified mainly relate towards short term gains, such as cutting expenses by using a self-checkout system. My exit strategy has influenced my growth intentions, because I don't plan on investing resources into the business that would expand it to a national or international scale. I intend on selling the business before it would reach that point.
I also would not consider running my company long term. That is interesting you would want to sell to a larger company, because they would have the option to keep the name. I feel like if you sold to Dollar Tree, it would fit with their consumer market well, but it may eventually decrease the quality of your business. This would be something to consider in the long run.
ReplyDeleteIf I were in your shoes, I would sell as well. I feel it would be a win-win for both you and the companies with your desires outside the retail industry. I have the same idea with my business concept, because I don't care to be in that field and would rather pursue my dreams elsewhere. Always up for making more money, though!
ReplyDeleteOr you could franchise it of the numbers exceeded your aspirations for the company in the first 5 years. I think this concept could supply a local demand, if at the 5 year mark your losses were greater than your gains, your exit strategy is on target. At that point you would want to sell the value of your process and wheel house to the a potential buyer to make gains on the return on the 5 years invested.
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