Your Exit Strategy

I think my exit strategy would be to sell my company to a previously established foodservice company such as College Chefs. I would spend the next few years building up my presence in the elementary school market before transitioning to middle and high schools. While I had planned to then move on into the college market, I think at that point one of my potential competitors would rather just buy me out. I think that would be my best option, as that would allow me to move on to other projects. I think this strategy does affect my plans to grow the company. If I know I am intending to move on once I get a big enough hold on the market, I will be willing to take more long term risks since I won't be around to deal with the fallout in the long-run. However, I wouldn't be reckless about it, and would be transparent about my intentions and my actions throughout my time working with the company,

Comments

  1. Ainsley StrackbeinNovember 20, 2019 at 10:18 AM

    Hi!
    Your exit strategy is very similar to my own because I also plan on selling my business. I also would want to sell so that I can move on to other projects. I like that your exit strategy isn't going to impact your growth strategy, and if anything will allow you to take more long term risks since you aren't planning on sticking around. Nice post and you have everything that is needed!

    ReplyDelete
  2. taylor butlerNovember 22, 2019 at 9:53 AM

    Hey Grant! Like you, I am also looking to sell my business as my exit strategy. I viewed my business concept as a starting point because there are other things that I want to achieve and do in my life. It’s important to take risks as a company because sometimes they lead to great things, so I like how you’ll be transparent towards your employees with your decisions. Good job!

    ReplyDelete
  3. Christopher CafaroNovember 23, 2019 at 2:50 PM

    Hey Grant,

    I am similar to you in the fact that we both are looking to sell our businesses as an exit strategy a few years down the road. I also agree that weighing your options once you get to that point is a part strategy, as you don't want to be too risky and ruin all the hard work you have done up until that point. Being transparent and honest is always a good thing to do, and will pay dividends in the long run in terms of relationships with employees.

    ReplyDelete
  4. Herzen VallejoNovember 25, 2019 at 9:30 AM

    Hello Grant,
    After reading your post about your exit strategy, it is different o mine because I would like to keep my business for the long run. I can understand why you would like to sell your company in the future, but what if you become larger than your competitors, would you be willing to keep your company and buy them out?

    ReplyDelete
  5. Matthew MrnacajNovember 25, 2019 at 11:59 AM

    Hey Grant!

    I really found your post to be extremely profound. My exit strategy is rooted in a somewhat similar philosophy, but I intend to just stay local in Flagler and Volusia counties and maybe expand to some other parts of central Florida. However, we do have different businesses, so this would all factor into the exit strategies that we created. Anyways, great post! I enjoyed reading it.

    Best regards,

    Matthew Mrnacaj

    ReplyDelete

Post a Comment

Popular posts from this blog

Testing the Hypothesis, Part 1

Healthier School Lunches Kids today aren't being served healthy enough meals from schools for lunch Who: Elementary School Kids What: Are not being served healthy meals by their schools Why: School's neglect the importance of healthy foods and resort to cheaper/easier options Hypothesis Testing the who: This problem can expand beyond just elementary school kids. Middle schools, high schools, and even college dining halls can have this issue, as well. It impacts younger students the most, however, because they are the ones who most need the nutritious value, and they are in less control of what foods they eat. Testing the what: There is an argument to be made that this country has issues with unhealthy food. My counter to that is that schools absolutely have the ability to serve healthier options, but they openly choose not to for financial or convenience reasons. Also, again, other people have options in terms of what they eat; kids stuck at school do not have a c
Read more

What’s Next?

     I think next, I would expand to bigger food packages. Right now, I am planning on doing three of them: basic, advanced, and premium. Once I get those up and running, I would expand to even more packages to allow schools more options. I asked three teachers what they would do next if they were running this business. One said that I should I move into the catering business. They thought that if schools saw that we are good enough to do catering than the food must be high quality and they would be more inclined to partner with us. The other two suggested more food options. I asked them about my idea to add up to 10 customizabile package options, and all three liked the idea.      My plan going forward would be this: I would add the custom packages to the potential options. Then, once I get big enough, I would expand into middle and high schools. After a few years of that, I would try to move into the college market. The amount of dining halls and fraternities/sororities that serve f
Read more