28A – Your Exit Strategy

As far as an exit strategy goes, I plan to stay with my business for several decades and retire. It's possible that the venture could become a family business and be passed down in the distant future.

I have selected this particular exit strategy as I believe the gyms subscription based revenue model could provide stable passive income for an indefinite period of time. I think setting up legitimate passive income streams is important while your working and during retirement.

My exit strategy has not influenced how I identified the opportunity. The exit strategy was something that came after the original opportunity was identified. However, it might play a role in what my growth intentions are and how I plan to acquire and utilize resources. The underlying business strategy will have to be oriented around achieving the venture's goal of large, stable passive income streams. It's been exciting planning all of this.





Comments

  1. Michael LombardoNovember 25, 2019 at 12:57 AM

    Hey Michael,
    I had a very similar exit strategy as you did. I wanted to stay with my business for as long as possible and maybe pass it down or sell the business as part of my retirement plan. I feel that it is very important to fully map out the whole business venture, as well as how you plan to leave your business, before you even begin working on it. This assignment has helped me to realize that there is so much more I need to think about before I try to start up a business.

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