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Ep 456 The Hidden Risk In Selling to Private Equity: A Cautionary Tale From Protein Bar’s Matt Matros' on How to Avoid a 7-Figure Mistake
Aug 23, 2024
Matt Matros, the founder of Protein Bar, discusses his journey from a single smoothie shop to a $44 million company. He warns entrepreneurs about the hidden risks of rolling equity when selling to private equity, sharing personal insights on maintaining control during expansion. Matt reflects on the emotional challenges of becoming a minority shareholder and the complexities of valuation negotiations. His cautionary tale emphasizes the importance of understanding liquidity preferences and choosing the right partners for sustainable growth.
54:20
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Quick takeaways
- Matt Matros's entrepreneurial journey demonstrates the importance of adapting to market trends, transitioning from a single smoothie shop to a successful chain by diversifying the menu.
- The experience with private equity highlighted the risks of rolling equity, where relinquishing control may result in frustration and a lack of influence over business decisions.
Deep dives
The Journey of Protein Bar
Matt Matros began his entrepreneurial journey by opening a smoothie shop, which evolved into a successful chain known as Protein Bar. Initially starting with a single location in Chicago, he recognized the market's shift away from sugary beverages towards healthier options. As business improved, he expanded to over 30 locations across the country by diversifying the menu to include food items like bowls and sandwiches. This growth was fueled by the rising health and wellness trend, as well as his strategic decision to maintain company ownership instead of franchising.
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