1. I personally do not plan to ever sell my business. My goal is to grow it into maybe a franchise depending on my team and how suitable it is for me in my point in life. Even if I do not franchise it I would be extremely happy making it and family owned and run business. I think and mom and pop restaurant is the type that would especially thrive in the Gainesville area.
2. I have selected this exit strategy because I believe this would be something really nice myself and the family can all be apart of. As well as helping the Gainesville community by providing them will extremely healthy, and affordable delicious food they can eat on the go.
3. It has certainly influenced how I identified my opportunity I want to be what life revolves around of which is health and fitness with cooking delicious foods. It has also influenced my growth strategy because it has motivated me to see what I can do to further expand once my idea becomes a reality.
Hey David,
ReplyDeleteI think it's a great idea to keep the business and possibly franchise it. Keeping it a family run business is also a good backup plan if you don't end up franchising it because you can involve your whole family and use your business as a way to spend time together. My grandparents used to own a small Italian restaurant in South Florida and I remember going there as a kid and helping them out in the back or cleaning tables.
Hey David, franchising is a great opportunity to expand with little risk. Allowing others to profit on your behalf with your products and trademarks in exchange for sharing the risk of expanding your company and opening up more shops. Money is not everything and if a mom and pop shop is what will make you happy, go for it.
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