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?