Wednesday, April 6, 2016
My Exit Strategy
I plan to stay with my business until I retire. I think the fact that it's owned by a person, and the brand has a friendly and familiar face, is the drawing point to many customers, as opposed to franchises. If I were to sell, I think a lot of customers would be disappointed and stop coming. The whole idea behind the company is to bring authentic and high-quality food to those that care about what they put into their bodies, or teach others that don't already. If I were to sell, I think a big-industry company would not care at all about the food itself, and without someone with the passion for the food and a personal connection to the different dietary restraints, I think the product would really change for the worse. A big-company might not care much to keep trying recipe after recipe until they find one that tastes good, they might just go with the easiest or cheapest option. I think this exit strategy has influenced the brand's mission and growth intentions I plan to ensure the ultimate customer satisfaction by being such a hands-on owner, which is why I wouldn't leave the company until I was ready to retire. I want to make sure every design made is for the benefit(s) of our customers, and then financially makes sense, too. I think this strong work ethic is what makes the business so successful because it would show in high customer interest and pay-off.
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Hey Maxine, I love your concept here. I also stated that I will own by business until I retired. I agree with you that customers want authenticity and might as well stop coming if the business is sold to new owners. I definitely see a personal attachment to your business concept and your appreciation towards customers. Being a hands-on owner will definitely make you stand out from other competitors and customers will truly enjoy coming to a business where such great atmosphere is present. Overall, great strategy. My business concept is somewhat different from yours, but I am highly motivated to fulfill customers’ needs and provide them with the best experience possible. Here is the link to “My Exit Strategy”: http://susanamorales0129.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHey Maxine,
ReplyDeleteI really like your idea and I think that your customers would greatly appreciate it if you stayed with the business. Your business is based off of quality rather than quantity and a new owner might to take advantage of your reputation. You've probably already looked into this but you'd probably want to consider whether or not you would use foods that contain GMOs. I also decided I'd like to try and hold on to my business for as long as possible. Here's a link to my blog.
http://sirwilson1776.blogspot.com/2016/04/my-exit-strategy.html