1. Since my business venture is a service, I can not really sell it in the next five years for a large return. My service is seasonal because it is hurricane shutter installations each summer. Hurricane season usually is at its peak in the middle of the summer. I am not sure how much longer I will continue to run this service each year as I grow older and find a career path. However, as long as I am in college I think I will do it. I do not intend to protect this venture by passing it down to my children. I simply do it as a way of making solid money that will help pay for my college education.
2. I have selected this particular exit strategy because it makes the most sense and I am not sure exactly when I will be done with this venture.
3. This exit strategy has not really influenced the other decisions I have made in this concept. As I have already said, this is only something me and my friends do on the side. This has not really influenced my growth intentions or how I plan to acquire and use resources. Although, I did have fun going in depth about this service and I believe it will help it be more successful.
Hello James,
ReplyDeleteI like your post since you simply describe your future plan. I beleive this business is good for a college student who has not much experience right now. I think you can even start a company that provide shutter installation and removal service, hire many employees to help many families. It is also possible that you will find something else more attractive to you. Good post.
Hi James,
ReplyDeleteGreat job on this post. I agree that this is definitely the most practical exit strategy for your business model. From my understanding, this is more of a side gig to earn some extra cash and not a means for a livelihood forever. That's okay too! Entrepreneurship comes in all sizes and forms. It is smart to evaluate this summer by summer and see if it fits in your schedule. Who knows, maybe once you graduate you can develop a more intricate business model inspired by this idea. Best of luck!
Hey James,
ReplyDeleteEven though your venture is a service, it's still a solution that customers will pay for, so it just comes down to the crossroads of if you keep it a side venture or want to go full focus. I'm just playing Devils's advocate. Your service is a valued service that could serve the entire state of FL if you wanted. So even if it's seasonal, you could have enough expansion business to take a few months off a year and still make good money annually if you hire and commit to the right team. The cool think is, your concept has flexibility in it to pivot either way. That's a good place to be.
Hey James,
ReplyDeleteI agree that you business concept is not one that can be sold, but it definitely could be expanded by hiring more people and canvassing different locations for new potential consumers. It is a great way to make extra cash but I agree that putting up shutters doesn't seem like a full time career and is instead more of a summer job to make some extra cash.
Hello James,
ReplyDeleteThat’s a good point of approach for your venture. Due to the nature of your business being situation I would have made a similar decision as I don’t think it would provide much income during off-season times. Like you said, it might be a decent side business that could pay for college and other necessary investments made in your early career. Maybe you could potential have another major company acquire yours in the future, this could be quite a profitable idea. Great post!
Hello James,
ReplyDeleteI understood your exit strategy very well, and I know that is something that you are doing to get some extra money. As you said hurricane season is not long enough to sell your bussiness for a huge revenue. I think is a great bussiness to get extra money especially as a student because we need to have some money to buy our necessities and save money for the future.
Hi James,
ReplyDeleteI think your description is really well thought out. I think it is important to understand how your business is going to grow and you know how it changes every year. Seeing how your business is only for monetary goals and not to be passed down to children I think it is a solid idea to work in this and then look into creating an even bigger business.
Hi James -
ReplyDeleteI enjoyed your post particularly because it pertained to selling a service which is what I am doing as well. When it comes to cashing out of a service business, I would give it time for your company to grow. Perhaps, in 20 years when you have 200 hundred employees, it might be time to go public or sell the company.