28A- Your Exit Strategy

I plan to hold onto this business until my children can take it over. If they were not to take it over, I would sell it to someone else and use the money I earn to invest in other businesses or portfolios. Hopefully this business is enough to provide me with the lifestyle I desire. I think that I would be content working in this business for my entire career if I could also responsibly invest and get large returns elsewhere. I have decided to do this because it provides me with stability and also allows to provide my children with a job with an income they like. I also would have pride in this business, so I wouldn’t like to see anyone else take it over. Considering the fact that I will be holding onto this business for many years and then watching my children take it over, I am going to find ways to create long term growth. This may include making large capital expenditures now so that later on, the company is prepared for growth. This also may include setting lower prices for market penetration, establishing a large customer base for later on when I can start setting higher prices. I plan to look at the business as a progression and may be more forward looking than focused on the present. This exit strategy means that I need to treat this business as my main priority and that I need to save my money wisely so that my kids are in a good position.