145: Astronauts vs. Scuba Divers | Can You Convert a Failing Business Into a Nonprofit?
If your business is struggling, can you save it by turning it into a nonprofit? Short answer: probably not.
It's Jess Birken here, and I'm back with my co-host Meghan tackling a super common question from business owners who think running a nonprofit might be an easier path.
Real Listener Question: "I'm an instructor at a small figure skating school. It's been around for 30 years, but we're not making ends meet. The current owner doesn't want to run it anymore. Can we convert it into a nonprofit so we don't have to make a profit or have an owner?"
We hear this one a lot. A business isn't…
The skinny
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