1) My dream would be to grow my business, until it can run completely on it's own. Then, I would let it keep making me money passively, while I would have to put little amounts of work in here and there to make sure everything is running smoothly. Finally, in around 15-20 years, if it became too much work, or if it was time to liquidate my assets, I'd sell the stores for lots of retirement money.
2) This is the same type of thing my father did, and it worked very well for my family and I. Personally, doing the same thing would give me the same quality of life as my parents, which is all I need to be happy in this life.
3) My exit strategy proves that I'm in it for the long run, so I definitely look towards making the opportunity work for me. I think that in whatever venture I choose, this would be my plan for most of them to exit. So when I look at new opportunities, I should always keep this in mind!
Hi,
ReplyDeleteI think that it is a good idea for you to hold on to the business if you can find a good manager, who can properly run the business. Then you can have some revenue for the business, as you said. It is nice that you made this decision based on the quality of life that you would like to have, because keeping your goal in mind will help you achieve it.
Hello,
ReplyDeleteI think your exit plan is a great idea. Having your dads experience in mind was good to help in your decision. I like the idea of waiting until the company can run smoothly on its own, because then you still make money with minimal work required. This is a great idea to make more money and also gives you a solid retirement plan.