What kind of business exit strategy should a push-cart hotdog vendor have?
As with any good business development, you should have a good entry and exit strategy. What kind of business exit strategy should a push-cart hotdog vendor have?
- 10 years agoFavorite Answer
Depending on how they want to do it- they can make their hot dog legacy into a restaurant or they can simply sell off their carts. A lot of people would say 'rent the cart to ease liquidation', but really, you have to consider the drawbacks of renting. To rent, you pay a monthly bill. If you just buy it outright, you can either sell it or use it for something else later.
Also, you have to be able to communicate to your 'regulars' that you're going out of business when you intend to exit. Sure, you may not CARE if you're retiring, but they will. There's no better way to net support, or possible opportunities than communicating. Leave the people with a good taste in their mouths and they might ask you to hot dog cater their next family reunion or kids' birthday party.
- AlbyLv 410 years ago
Their exit Strategy should be to Rent all their equipment (ie: Cart) so that liquidation of the business can be quick.