For my business, I think my exit strategy would be to reap the benefits of the business for a few years and then potentially partner with a big brand like Johnson & Johnson or Procter & Gamble so that they may adapt my online platform in their products, as with some of their brands they are already looking to use more natural ingredients. After a little while of that, I would want to sell the business completely to one of these companies for a large return.
I have selected this because although I believe my business is a great idea, it may have more potential for growth if partnering with an already established brand that has rapport with customers and would generate more profit. The concept is there, but it may be difficult to capture the market unless tacked onto a bigger brand that consumers are already familiar with.
I think that this exit strategy has influenced my decisions, because before I mentioned not purchasing an entire manufacturing plant, but to simply rent out space in one to minimize the fixed costs and avoid having to sell it in the future.
McKenna,
ReplyDeleteI think your idea for your exit strategy is thoroughly thought out and sounds like the potential for success is huge. I think the idea for a partnership to help expand and mature as a business in your market is one of the only logical decisions that needs to be made in order to do so. Once you feel your company has reached it's ceiling you can sell it for a large sum and enjoy the rest of your life. Overall great post!
Hey McKenna! I think your exit strategy is a fantastic idea and is a dream for any small business owner who is specializing in cosmetics. Your business would most likely experience a lot more growth and you would earn more profits if it was taken over with a brand as trustworthy and as established as Johnson & Johnson or Procter & Gamble. I also think having this goal in mind will really benefit you, as you will spend less money investing in assets that do not align with your long-term plan.
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