My plan from day 1 of creating this business concept was to sell my business when it is well into the maturity phase. I envision this process to take around 7-10 years to successfully implement and expand the business. I plan on taking my food delivery service in stadiums outside of just the NFL and start delivering to stadium seats during concerts and other events before I sell to maximize my company's market valuation.
I view my main target market, the NFL, as a ticking clock with all the extreme injury's and inability of the league to augment player safety. Also, the NFL has already lost significant viewership because of political reasons, mostly thanks to players kneeling during the National Anthem. Thus, I want to enter the market and leave the market as fast as possible.
Just in case the NFL falls apart while I still own and operate the food delivery service in stadiums, it is imperative that I find a way into other markets to negate this revenue loss. Thus, I am looking into the concert market and even thinking about catering extremely large events to try and keep my business afloat. My exit strategy definitely influenced my growth intentions. As I said before, I plan on milking the business concept into the maturity phase where my service is implemented in various markets and will plan to sell when I think the NFL is 2-5 years away from being eradicated.
Hey James!
ReplyDeleteIt seems like you have a good idea of how long you want to grow your company for before parting ways. It was also nice to see that you had this idea from the beginning and have wanted to stay with the company through maturation from the start. I think this is an important thing to decide early on in a company's life. It is also smart to realize that a main portion of your consumers may be taken away if the NFL is not around in a few years due to problems you pointed out. Being aware of things like this is very important.