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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Humble Origin Of Grade Potential
- Dave started Grade Potential in 2002 after helping a tutor organize students and realizing the market need.
- The business grew from that seed into an in-person tutoring company now called Grade Potential.
Avoid Personal-Guarantee Fear By Taking Capital
- If you fear personal liability, take outside capital instead of doing a self-funded PG-heavy search.
- Choose investors whose incentives closely align with your outcome, even if you give up some independence.
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.