Exit Strategy

Exit Strategy

It may seem counter-intuitive to think of how you will be “getting out of business” if you are just starting. And if you are an existing business, you may not have given much thought as to how you plan to exit. But we all know we will exit our business at some point. This section of the business plan is extremely important in determining where you want to “end up”, as that choice drives many of the decisions you make during the life of your business. Different exit strategies include:

  • Succession plan
  • Sale
  • Merger
  • Buy-out
  • Franchise
  • Acquisition
  • Going-public
  • Closing your business.

Regardless of which exit strategy is chosen, it needs to be incorporated into your business plan.