Exit Strategy
It is always important to plan for the future. Although it may be difficult because we have yet to actually open our businesses, it is still possible to plan. If my business venture goes as planned, I would like to keep it open for as long as possible. I think there is something to be said about good food spots that last a long time open. It shows authenticity and means that you can trust in their food. I might eventually sell it far down the road, but I would like to keep it open for as long as I can.
I have selected this particular strategy because my venture is different from any other. There has never been a place like mine or a product like mine in Florida. That is why it would be difficult to sell it, especially if it is going to be successful. Keeping it open would keep some diversity in the restaurant business. If I sold it, it would probably turn into another Chic-Fil-A.
My exit strategy has influenced my opportunity greatly. There are so many business owners who decide to sell. Most of the time, large corporations come into play and buy out everything. They then turn it into the same restaurant or store that they have multiple of in the same town. It is so important as a citizen of a town to support the local businesses. We must help these business owners stay open for as long as possible, so corporate America cannot come in and ruin it.
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Final Reflection
Like all good things in this world, ENT3003 must come to an end. As sad as it is to be apart of this finale, there are a lot of things to lo...
Hey CJ,
ReplyDeleteYour exit strategy is quite similar to me in the sense that we do not plan to sell it or stop it anytime in the near future. I do agree with you that planning and knowing your strategy is vital because we never know what the future has in store for us. Lastly, I agree that we should try and stop the corporate take over of smaller business especially in Gainesville which is a beautiful close knit community. Thank you for your insight!
Cj,
ReplyDeleteI do love your plan for keeping the business in the family. A lot of the restaurants in my hometown are family businesses and they are hotspots for my town because of it. I like where your head is at and I would like to see more from you business in the future. Good Job.
Hey CJ,
ReplyDeleteIn my hometown there was a successful restaurant and when the owner was ready to retire he just closed the restaurant. He could have made a bit of money off of selling it but he did not want the reputation of the business he had cultivated to go downhill under new management. You mentioned that if you sold your business it might just turn into another chic-fil-a so maybe you have the same fear.
Great plan here. I like that you are somewhat "bucking the system" with wanting to continue as a local business. I also admire your hope to stay focused and trying see it through as long as you can, as opposed to trying to make a quick exit after making a little bit of money. I think you've got a great attitude about this and are looking at the right things.
ReplyDeleteHey CJ, I think you could turn this business into the next Chick-fil-A or the next Walmart. It is all about ambition. Whether you try to get bought out by a large company or not, as you grow you will either have to cater to a larger audience or limit your growth. It is a trade-off between going main-stream and staying OG.
ReplyDelete