Assignment 28A-Your Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

• I believe there are a couple different ways to exit this venture.  When leaving college after creating a client base, I might hold on to the company while trying to create bigger ventures. I would have to hire a manager to watch over the store since I would not be there, but visit from time to time to make sure everything is running smoothly. I don't think it is something I will have for much longer than 5 years, that is enough time for me to make profit off of the venture while further learning how to manage a business, both equally as beneficial to me in my future ventures.  I definitely would not make this venture something to protect for decades or become a family business, I see myself as doing something much bigger than that. 

2) Why have you selected this particular exit strategy?

•  Since new students enter UF every year creating a new market for my company I can see this venture as something with potential for many years. That being said, while in college I imagine my company becoming almost a monopoly for laundry since there are no other services nearby. That being said, the flexibility and potential for profit as a small business is too valuable to give up right away. Also, the business itself is relatively simple so I do not think it would be a problem trusting a manager to oversee the business when im not there. 

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

• I dont think my exit strategy has influenced much about how i have went about my venture so far. The most important aspects of creating a client base for my venture are marketing and word of mouth since it is on a college campus, and both of those things can be set up and continued whether I am in the area or not. Having great service is vital, and making sure it stays the way i created it after I leave will ensure the companies success for years after. This is why I chose this exit strategy, because I see my company as one that can find a sense of flow that can still be achieved being run by a manager.