Unfortunately all good things come to an end, like my company. Today I am going to tell you about my exit strategy for my venture concept.
1. For my company, I plan to sell it for a large sum of money five to ten years down the road. As much as I would love my first business, I do not know large a company selling watches can really grow. I think my best bet is to sell of the company and use some of that money to invest in a new startup.
2. I selected this particular exit strategy because I am afraid that my venture concept has a relatively low ceiling. My target audience is already relatively small and I think that once other companies begin entering my market, the competition for profits will be too much. So selling off my company five years down the road to invest in something else would be my best exit strategy.
3. When I first come up with the idea for this concept, I knew coming in that I could not stay with this company for the long run. So when making decisions about my concept, I tried to utilize other companies as much as possible so I was not stuck with a lot of sunk costs when trying to get rid of my company. I always tried to keep costs as low as possible and minimize the land I have to pay for so that I can easily exit my company without any issues.
Travis,
ReplyDeleteI think its very smart of you to think ahead and to use other companies to do certain things for you instead of doing them yourself and possibly be stuck with old machinery or old equipment. Like myself, you chose to leave your company within a few years, which I think its smart because there's no reason to limit ourselves. Feel free to check out my blog post here:
http://gabrielaraujoent3003.blogspot.com/2016/04/my-exit-strategy.html
Travis I think it is awesome that you want to start a small watch business. It's also admirable that you know that your business is likely not to turn into a big company. The best hope is that someone would come along and purchase your company for millions of dollars. There is a small watch company called TX in Germany that I know of. I wore their watches for years and they got bought out by one of the big watch companies. Then their craftsmanship and design declined. Check out mine at http://tatument3003blog.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHello Travis, I think you are smart in choosing to sell your company in the long run. I made the same decision in my company to sell it, and I believe it is the most logical thing to do and will create the most secure profit. It is good that you planned from the beginning with the intentions to sell so that you could plan accordingly.
ReplyDeleteCheck out my post here
http://zackmuf.blogspot.com/2016/04/my-exit-strategy.html