1) Identify the exit strategy you plan to make.
-As I grow Anam Beauty and Wellness, my main goal is to partner with a larger retail supplement company, such as GNC. I want to stay with the company for as long as I can while continuing to grow the company into a household name. I would love to also partner with some kind of all-natural, vegan focused company because I see that kind of market quickly gaining popularity amongst our society. If I was approached by someone to sell Anam Beauty and Wellness I would make sure that I would still have the voice in determining the direction of the company going forward. Ultimately, my goal is to bring my products to multiple name brand grocery and supplement retailers. I think it would fit the brand best to stay focused on providing staples to the everyday consumer and these retailers would allow me to reach those kinds of consumers best.
2) Why have you selected this particular exit strategy?
-I have personally selected this particular exit strategy in order to maintain the core values and intentions of Anam Beauty and Wellness. With this in mind, I think it is best to avoid direct selling of the company and focus on building partnerships with various retailers and or companies. I want to be able to steer Anam Beauty and Wellness on reaching the everyday consumer and the main way of doing that is offering our products in various in-store retailers. Therefore, partnering with these retailers will allow for a great deal of consumer exposure while also allowing myself direct oversight of the company's direction.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept?
-I do think this exit strategy has influenced me to focus more so on growth and exposure. I initially wanted to develop various products I personally wanted for myself, but I quickly realized that the everyday consumer most lily will not want those products. Therefore, I wanted to focus on the staples side of the health industry and provide consumer's the best bang for their buck. Hopefully, this allows Anam Beauty and Wellness to gain a greater market share when we launch.
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30A – Final Reflection
1) Summary of ENT3003 throughout the semester. -This class allowed me to gain a great deal of knowledge and personal growth surroundi...
David,
ReplyDeleteAwesome post. I admire how invested you are in maintaining the integrity and core values of your company even if you do eventually sell to a larger company. I agree with you plan to partner with Anam Beauty and Wellness as that would give you the most say if you did sell, and earn a hefty profit while you're at it.
David,
ReplyDeleteI have read that a lot of entrepreneurs have a difficult time letting their company go when it it time to exit. The fact that you are so focused on what is good for the consumer says a lot. One thing I have noticed that majority stockholders do is hire a CEO to run things so they don't have to, but they still are in control. Just a thought, best wishes.