If I start a business it will be one of my main sources of income, but when my business starts making a certain amount and I am at a certain age(probably when I am old), I would like to sell this business to either start a new business or retire if I am old. This plan may change throughout the next coming years.
Like I said I would most likely sell my business when I retire; because I would most likely sell my business when I am older I do not know how much money in profit I have made from the business.
The other reason to sell my business would be if I want to start a new business and the business I am currently running is making a good profit then I will sell. If I do sell in this type of situation I would like my business to be making me two hundred dollars in profit, this does not seem like a lot, but think about all the expenses you must pay before you pay yourself, now that’s decent money, for a small business.
I plan on not having a large business, just a small or medium sized business. I am planning to follow the field of Geology, and I would like to be a writer on mining, since I will have the knowledge on the subject since I will be a geologist, so my business will not be huge.
But, if I change my mind and plan on starting a large business corporation, I would make sure that I am able to sell the business in the future. When I do sell, I hope to have been making millions in profit when I owned the business.
When I do have a business I do not plan on selling until I am old and ready to retire. Having a business can be a huge opportunity and advantage, so I will probably hold onto the business until I am old, but if I find a new opportunity or career path, I would only sell the business when I make 200,000 thousand dollars in profit. This number is unsure since I am still in my early teens, things may change.