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It is advised to include a comprehensive exit strategy in the business plan from the starting. While it may seem illogical to plan on starting or buying a business while also planning how to sell or exit it, in today’s fast-paced economy, this is the best strategy. Your exit plan will provide investors and creditors peace of mind that their money is safe. If things go south, the exit strategy explains how you intend to minimize your losses.
Exit strategies are necessary for all types of businesses, large and small. Planning to leave a business does not indicate that you are planning to fail. You may intend to establish the business with the goal of selling it after you reach your profit target. When you plan to retire, an exit strategy can be useful.