28A-Your Exit Strategy

1. My exit strategy has always been that I've wanted to keep this business going until I am able to retire. I do not have any children right now but if this happens I would love to be able to teach them all of the ins and outs of the business and pass it down to them.

2. I selected this particular exit strategy because this business means a lot to me and I plan on building it to be the best in its particular field. I do not want to grow it and then just sell it off to someone who may take it and turn it into something completely different. I have watched to many good businesses be sold off and become completely different. The new owner will take the existing concept that worked so well for so many years and create it to be there own. Most of the time I see the new owner's business concept fail, and the business they originally purchased closes or loses a large amount of finances over time. I want my business to be looked at as a staple within the community and when people think of it they associate myself and the time and hard work I have put into it over the years. If I pass it down to children they will be able to keep the family name going within the business and hopefully one day they will be able to pass it down to their own children.

3. As I mentioned earlier since the beginning of coming up with this concept and putting it all together, I looked at what could be done and stay relevant for the long run. I did not want to come up with a idea that would only be good a few years and then put me in a situation where I need or want to sell it off to get it off of my hands. I knew I wanted this to be long lasting and that is why I chose my prototypical customers to be senior citizens. I knew that would be one area that was never going to change because people are always going to to age throughout life. I believe this has helped me think about growth and how I am going to keep this business thriving over the years. I kept the concept simple that way if things did go south I would be able to get out of the business without losing a large amount of money. I kept my plans solid for growth because I want this to be the type of business that will continue to be needed when I am ready to retire. I understand that over time adjustments will be made as technology and other features arise, but I will be prepared for that. I truthfully think the best way to go into a business is with the thought that this is your baby and you are going to do everything possible to keep it healthy and growing. For me there is no short term, just long term success and a business that allows me to enjoy my work and life.