One-on-one with 'serial entrepreneur' Jack Gulati

 

Jack Gulati, the owner of the Reading Royals, calls himself a serial entrepreneur. He's owned 43 businesses, the latest being another hockey team -- the Allen Americans in Texas -- he bought a few weeks ago.

Gulati's businesses have run the gamut, producing everything from electronics to medical devices. He also owned Stokesay Castle in Lower Alsace Township, Berks County, before he turned it over to his sons, and the historic SunnyBrook Ballroom near Pottstown, Montgomery County.

When asked what makes him an entrepreneur, he has a simple answer: "I just can't sit still."

It runs in the family.

"My father owned about 60 liquor stores in and around New Delhi, India," he said.

Gulati came to America when he was 14, eventually settled in Pennsylvania, and started his first business when he was 26.

A few years ago, he tried to retire, but it didn't take.

"My mind was going crazy," said Gulati. "Reading hockey came into play and I bought it because I wanted to keep the team in Reading."

He'd only been to two hockey games.

"The one was in 1966 when the Flyers first came to town; the second one was the day before I signed the deal," Gulati said.

But he was confident, because what ties all his different businesses together is a philosophy.

So what's the secret to his success?

"My secret to success is have a vision," he said, "and then be able to recruit top-notch people to run the operation."

So, what's next?

"Well it's a good question," Gulati said. "I haven't thought that through. I hope it'd be retirement."

Unless, of course, his mind goes crazy again.

Click the image above to watch Tim Silfies' entire interview with Jack Gulati.

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