My Exit Strategy

1)      Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

a.       I plan to build this company up and then sell the company for a return. This is common place in the space that I will be in. Many large application and software developers will buy smaller companies or their idea from them for large sums of money and then run or further develop them on their own.

2)      Why have you selected this particular exit strategy?

a.       Like I said before this is common place for businesses in the app world to be acquired or have their ideas bought out. For example Zynga, the people behind Candy Crush have bought out ideas for other games, and other successful apps to have it under their umbrella. Hopefully somewhere down the line we can get bought out by a larger developer. Also I picked this strategy because I will use the funds I would get from selling this business to pursue one of my other business ideas (owning and operating a golf course). The capital I would get from the sale of the company is too great to turn down, and would give me the opportunity not many people get to take on.

3)      How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

a.       I feel since this concept revolves around an app and the internet they exit strategy does not factor in as much as some of the other possible business that may be more

brick and mortar stores where you may want to pass on the business to a family member or hold on to it and sell the store front to get more money from retirement. The exit strategy has influenced how we want to grow our company. We want to have it grow as much as possible so that way we can have the best sell price at the time we decide to sell. Also this is influencing us to have other app ideas to sell along with our growing customer base to get the most money.