What if your business could be owned by its own purpose?
In today’s episode, our guests discuss the emerging trend of business owners transferring ownership of their business to a purpose trust. Many business owners have begun to explore this alternative ownership structure as a means of preserving the values of their business, and ensuring that their business is not sold, long after the business owner is no longer around.
Natalie Reitman-White is the principal at Purpose Owned, a consultancy for ownership succession planning. In 2018, Natalie pioneered one of the first purpose trust ownership transitions in the U.S. with Organically Grown Company.
Ari Weinzweig is co-founder of Zingerman's Community of Businesses, which consists of various food-related companies including Zingerman’s Deli in Ann Arbor, Michigan. In 2022, with the help of Natalie, Ari and his business partner transitioned ownership of the Zingerman’s brand to a purpose trust.
In the episode we will learn:
(4:21) – What was the road to Zingerman’s like for Ari?(7:08) – How did Natalie find her way to Organically Grown?(10:02) – What interested Natalie and Ari in Perpetual Purpose Trusts?(17:73) – Why was preserving the legacy of Zingerman’s important to Ari?(21:32) – How can a business owner generate liquidity when they transfer their business to a Perpetual Purpose Trust?(26:50) – Can Perpetual Purpose Trusts adapt to changing circumstances?(29:24) – Who can sit on a trust committee?(31:49) – What is the process and cost of transferring to a Perpetual Purpose Trust structure like?(34:20) – Where can business owners start if they want to adopt a Perpetual Purpose Trust structure?(36:51) – What is the ‘why’ that drives Natalie and Ari?
Podden och tillhörande omslagsbild på den här sidan tillhör The Northern Trust Institute. Innehållet i podden är skapat av The Northern Trust Institute och inte av, eller tillsammans med, Poddtoppen.
