Millennial Sells Business for $532M, Finds Leisure Life ‘Boring’, Returns to Work
A successful millennial entrepreneur has shared insights on the challenges of life after selling a business. Tom Grogan, who co-founded Wingstop UK, sold a majority stake for £400 million (approximately $532 million). Despite this financial windfall, Grogan discovered that wealth does not automatically lead to happiness or fulfillment.
Tom Grogan’s Entrepreneurial Journey
Grogan’s path to success was not straightforward. He faced numerous hurdles, including:
- Starting as a construction worker earning $5 an hour
- Sending cold emails to Texas
- Facing 50 investor rejections
- Launching 57 restaurants across the UK
After nearly a decade of hard work, Grogan reflected on the surreal feeling following the sale. “It’s done now. Now what?” he articulated, emphasizing that the transition from building a business to managing wealth is a significant shift.
Life After a Major Sale
While many expect a lavish lifestyle post-sale, Grogan maintains a cautious approach. He continues to rent rather than buy luxury items or homes. Together with his co-founders, Herman Sahota and Saul Lewin, Grogan is using this time for reflection and planning future ventures.
The Challenge of Finding Purpose
“It’s boring,” Grogan admitted, expressing the challenges of finding daily motivation after selling a successful enterprise. He feels the need for an engaging purpose and is planning to return to work, although he may explore industries outside food and beverages.
The Emotional Impact of Success
Grogan’s experience is echoed by other prominent entrepreneurs. Brian Chesky, the co-founder and CEO of Airbnb, labeled his company’s IPO as “one of the saddest periods” of his life. Despite achieving billionaire status, Chesky found himself feeling isolated and unfulfilled, having dedicated long hours to work.
The journey of high achievers often reveals a profound void after reaching their goals. Both Grogan and Chesky illustrate that wealth and success do not inherently lead to happiness or a satisfying life.
Conclusion
Tom Grogan’s story serves as a reminder to entrepreneurs that success requires ongoing purpose and engagement, rather than simply enjoying the fruits of their labor. As he plans his next move, Grogan emphasizes the importance of finding new challenges and avoiding complacency.
