1) Assuming I increased my prices and services in pet sitting and hired employees and gained new clients in the next several years, I would likely step away from the business to some degree slowly. I wouldn't do pet sitting myself but would still benefit from profits and continue to help TNR (trap-neuter-release).
2) I would choose this exit strategy because the service itself takes a lot of time. It would require staying over at someone's house while also checking on other people's pets during the day if need be, and TNRing. It would take a lot of time out of my personal life because it isn't a typical 9 to 5 job. If I could step away from pet sitting myself, I could devote more time to helping animals while having other people pet sit.
3) I don't think my exit strategy would influence much if I were still the owner but didn't pet sit myself. There would be times that I wouldn't be available anyway, so current clients would have to book with someone else I work with if need be.
Hey Savanna! I like your exist strategy but I should warn you that leaving your business in the hands of employees can be risky. Since they have little vested interest in your business sales can decrease and the profitability of your business with it. That is unless you really trust them and have built a relationship over time.
ReplyDeleteSavannah,
ReplyDeleteI can understand your desire to step away from the hands-on aspect of your business once it was profitable and sustaining. It looks like you have a balanced outlook on how you could still be involved, because you love the nature of what you’re doing with this venture, but yet not have to spend all of your time actually doing it. That would be the best of both worlds!
Susan
Savannah,
ReplyDeleteI totally understand your toss up with your business. I experienced some similar issues when I was deciding on my future actions as well. It is extremely difficult to allocate your own personal time, when you are uncertain of the future and what it holds in other aspects of life. Great job and best of luck in whatever you do choose.
Savannah,
ReplyDeleteI can understand how you chose your exit strategy, I think with your venture its something that you can only work hands for a certain period of time. But with that being said I feel if you build your venture up where you can manage and be a top pet sitting service that is well known, it would be something that you would want to hold on to until you can really make some money selling your brand.
Savannah,
ReplyDeleteI really like that your exit strategy involves less work, and still helping more animals. I think it's a great idea to try and do what you want to do while still earning an income from hiring others. Actually doing most of the pet sitting yourself would be very strenuous and I agree with your decision. Also, it probably wouldn't be very hard to find workers since so many people like working with animals and pet sitting.