J.P. Licks

What’s Your Exit Strategy?

Since founding J.P. Licks, a chain of 10 Boston-area ice cream shops, in 1981, Vince Petryk has tried not to think about the day when he’ll leave the business.

“It’s almost like your last will and testament,” Petryk says. “I can’t imagine I’ll be glad to walk away when the day comes, which is why I don’t think about it much.”

But Petryk, like all quick-service operators, will have to face that day eventually. And today, as Baby Boomers reach retirement age, business owners are increasingly looking into the options available to them when they decide to retire.