My exit strategy includes selling my company to a large pool pump timer company. Pool pump timers have a dense saturation in the home pool market, and my product is a natural extension for pool pump timer companies.
I intend to sell within 5 years. Once it's sold, I plan to take the minimum sale amount of $2.4m and if my math was accurate when I planned this and I'm getting a decent 5% rate of return off of investing that 2.4m, I'll make somewhere between 100k and 200k per year on the interest alone and can live off of that, and pursue personal or business ventures at my leisure.
I selected this strategy because I've been working for 20 years already and, well, I'm over it.
I think this exit strategy has influenced the speed at which I plan to deliver on my product's availability. The sooner I can get the out, the faster I can sell it.
You have a very thought out plan. Its impressive to know that you did the numbers and calculated how much you will potentially make when you sell. Good for you. Good job on this post as well. here is my post http://cristalsicard.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteWow great job calculating out all the figures. It seems like you planned out your business well to be able to take the profits and do what you want with it. I wish I had planned out my business like you did as well because I don't want to work forever either. Great job!
ReplyDeleteI think it is great that you have a clear calculation of the numbers. I think a lot of people here probably do not have that ability because their plans aren't already in motion. I also think it is respectable that you realize you no longer want to pursue this business. Moving forward without the passion for it would be toxic to the business. great job! http://meganerobb.blogspot.com/2016/04/my-exit-strategy.html
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