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?

To answer this question, I decided to look at how many firms operate in the first few years and what their founders decided to do. I looked at companies like Uber, which is close to my idea, and see how they are currently doing and how the market is holding up. Uber has been around and active for about six to seven years and they are continually doing well. However, just like my idea, they are a low margin business that is susceptible to bursting as a result. The main way for my app and business to stay alive is from constantly adding new repair personnel to meet client demand. If that supply ever dips, I will lose money. As a result, my exit strategy is to sell the company after about six years. This will let me get past the dreaded beginning stages in the first two years, and give me four years to establish a name that is worth buying. 

2) Why have you selected this particular exit strategy?

As I said before, my business is like a bubble and it is only a matter of time before it bursts. My exit strategy works best because it gives me time to establish a name for myself and sell the company before that bubble bursts. This will provide me with enough assets to live comfortably and work on my next venture and hopefully self-fund it.

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?

I don't think that my exit strategy as influenced anything. The main idea behind my strategy is a result of my entire business model. Changing anything because of my exit strategy would be changing my idea completely.