Acquiring Minds Timing is Everything: Buying a $30m Tutoring Business
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Nov 3, 2025 Jared Lenner, an MBA and former finance professional, now leads Grade Potential Tutoring after acquiring it from Dave Serwitz, who founded the business two decades ago. They discuss the unique challenges of the acquisition process, including the importance of transparency and assuming positive intent during negotiations. Jared shares insights on leveraging data for growth and addressing the competitive threat of AI to in-person tutoring. Dave reflects on his feelings post-sale and the mixed emotions that come with transitioning ownership.
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Start With Transferable Founder Skills
- Start your search from skills you can bring, not a clever industry thesis you invent.
- You must be able to replace the smartest person in the target company and add clear value post-close.
A Nearly Deleted Email That Started It
- Dave almost deleted Jared's email impulse‑ly but instead replied and included him in the banker process.
- That hesitant reply became the origin of Jared's successful acquisition path.
Agree To Assume Positive Intent Pre-LOI
- Before signing an LOI, agree to 'assume positive intent' so friction in diligence doesn't derail the deal.
- Tell each other to call directly when lawyers make things sticky and preserve the spirit of the deal.