Franchising: Pathway to Wealth Creation

Chapter 12. Harvest

The holy grail of entrepreneurship is “cashing out.” Some people sell their business and others transfer ownership and or management responsibility. Entrepreneurs call this the “harvest” of the business. It is sometimes referred to as an exit strategy. Clearly, every entrepreneur eventually exits the business, be it by sale, bankruptcy, or death. We prefer the word harvest because it connotes a natural and positive conclusion to a well-planned series of events.

Everything we’ve talked about in this book can be optimized only if harvest is well thought out from the beginning of planning, prior to execution. Seldom is wealth achieved in a haphazard manner. A harvest strategy is not a luxury, it is a requirement. You must evaluate ...