I would like to target my exit in a range of 5-10 years. I
would like to develop one location in my local market, but focus on a training
program that will allow to ensure consistency and quality in the process of
expansion. I would start with a slow, conservative strategy for growth in the
Orlando area. This would allow me to re-invest an adequate amount of my revenue
stream to promotion and developing my training program. When the training
program is completed, I would look at expanding into the Tampa Bay/St.
Petersburg area. Once I have established a solid footprint on the Gulf Coast,
it is time to open a location in Jacksonville. By this point, I will have
established a line of locations stretching the I-4 corridor. Now is where I
bring in the lawyers and start drafting agreements to allow franchising. This
is the ultimate goal. I eventually want to get to a point where the business is
on auto-pilot. By franchising locations, I can kick back, go fishing, and still
have a nice and steady stream of royalties flowing in.
Hi Thomas,
ReplyDeleteI love the idea of a car buying service like this and can really picture it working. I love the idea of making it an all-inclusive service, with fair competitive prices for the customers. Also I like your ideas for expansion such as tented windows, weather tech flooring, phone mounts, etc. I really think this could be successful.
Hey Thomas,
ReplyDeleteNice specificity on locations and eventual franchising. I love seeing the reasons people go into business for themselves and fishing is a good one; I still have yet to catch some good Snook. Is it ever a concern for you to hand over reins to someone else? That is something I have trouble dealing with in my head.