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Willwillbee
Member
09-19-2001
| Saturday, December 20, 2014 - 11:21 pm 
I have to tell all of you about this GREAT show that was recently recommended to me, a CNBC show called "The Profit"
Marcus Lemonis takes (usually) failing businesses & bails them out for up to 51% of the business & quickly turns them around & profitable. He is so smart & is eager to learn all aspects of the business. He's made biscuits, cleaned toilets, whatever is needed.
If you like Shark Tank, you will love this show. It's like the next step after a Shark invests.
It's amazing to me how so many of these companies have no idea about their finances & some owners never even get paid. So many people are so stuck in doing things because they've always done them that way. Some don't even bother to try & get better margins, like the restaurant that bought his meat from a food distributor instead of asking at a local butcher what kind of price he could get for 25,000 lbs of ribs per year. Marcus got his prices down from nearly $4 lb to $2.65 lb.
My favorite episode was Shuler BBQ, a "gold mine" out in the middle of nowhere. People would drive 50 miles just for dinner but they had all you can eat BBQ buffet for $14 which included drink & desserts & incredible food. They were only open 3 days a weeks & stayed packed.
This was a rare show because it wasn't a failing business but the folks were older (60ish) & wanted to know how to pass the business to the young adopted child that they adored but wanted something that could be managed & staffed without them. It was a heart warming episode.
I tried watching at CNBC where the episodes are available but kept getting hung up. I watched a lot on HULU but they are a month behind on shows. They currently have airing the follow up show for most of these businesses.
http://www.cnbc.com/live-tv/the-profit
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Dipo
Member
04-23-2002
| Sunday, December 21, 2014 - 1:38 pm
Oh, I love this show, I happened on it a while back when he was trying to work with a doggie day care in LA. That was one he ended up walking away from but it intrigued me so now I try and catch it all the time.
Yesterday they had a couple and one of them was an update show, it was great to see what had happened to some of the businesses.
Also saw the "candy man" one, was bummed they had to give the jerk partner $50,000 to get rid of him since he had only invested $2000 in the business. He was such an ass, just wanted a big payday for doing nothing.
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Willwillbee
Member
09-19-2001
| Sunday, December 21, 2014 - 5:21 pm
Dipo, I thought I had seen all of them, but missed the doggie day care I guess, which one was it??
Did you see the bro in law on Shuler BBQ that wanted a $200,000 salary for a marketing job & his ideas were just posting on facebook. Marcus offered him job of general manager (for appx $45k, but expected him to work for it.
The 2 owners that worked their butts off were getting less than $100k for both of them. They wanted the bro in law & his wife to be a part of the business but were also floored at the salary request.
Marcus is definitely intent on making money and he's also taking huge risks with mostly failing businesses but he's also got a huge heart for the underdogs. I can't imagine anyone else paying off the candy man's partner $50k for a totally untested business, but he seemed to want Pete to succeed so much since Pete was willing to do it for free.
I loved how he supported the "Car cash" brother's ideas & financed them to (what seemed to me) just prove the other brother wrong.
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Dipo
Member
04-23-2002
| Sunday, December 21, 2014 - 6:36 pm
Hahahaha, I did see that one. I was LMAO since he thought making a post on facebook was marketing and didn't they say he only had something like 300 friends. Maybe it would have actually meant something if he had a mega network, LOL.
It was LADogWorks, a great business and really good employees but a total ass for an owner. Marcus said he couldn't work with him because he didn't know how to treat his employees.
I did see on the internet that it is still a functioning business.
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Willwillbee
Member
09-19-2001
| Monday, December 22, 2014 - 2:14 am
I guess I missed all of season 1 other than the first episode which reran on TV recently, have to look for those episodes.
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Jag2000
Member
07-01-2009
| Monday, December 22, 2014 - 9:40 am
Love, love this show. Haven't watched the last one yet about how the cos. are doing that he invested in. Shark Tank and Suzy Orman are also shows I watch faithfully on CNBC plus I watch the stock market daily.
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Dipo
Member
04-23-2002
| Tuesday, December 23, 2014 - 6:59 pm
Two shows tonight, they don't show as new on my TV Guide but I haven't seen either one based on the descriptions.
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Dipo
Member
04-23-2002
| Tuesday, December 23, 2014 - 10:04 pm
Ok, this first on is Unique Salon and Spa, from Season 2, I have seen this one it is pretty good.
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Wilsonatmd
Member
01-23-2001
| Monday, December 29, 2014 - 10:16 am
Jag- Suze Orman is leaving CNBC in March to do a syndicated show...
I'm not really into The Profit- watched a couple of eps- but I am a big fan of American Greed on CNBC...really interesting stories.
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Jag2000
Member
07-01-2009
| Tuesday, December 30, 2014 - 11:03 pm
Thank you Wilsonatmd...I've also watched American Greed.
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Dipo
Member
04-23-2002
| Wednesday, December 31, 2014 - 12:02 am
I am totally fascinated by American Greed.
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Willwillbee
Member
09-19-2001
| Wednesday, December 14, 2016 - 1:53 pm
I have to highly recommend this show, The Profit on CNBC.
Episodes can be seen here -
http://www.cnbc.com/live-tv/the-profit
Marcus Lemonis takes mostly failing businesses & buys in with enough cash to get the business up & running. I say "enough cash" which may be a LOT but the money doesn't go as a buyout type thing for the owner.
It amazes me at people who have totally screwed up their business (in some instances) & the doors should have been closed already & they think he should just give money & let them continue as they have been. But he always explains, that if you accept this deal, "I am 100% in charge."
Marcus Lemonis is remarkable. I don't know if he's just fully prepared with facts & figures & it just appears that he's so knowledgeable but I don't think so.
Some new partners took him to a site they were excited to open a new restaurant (hamburgers) & he looked around, asked the square foot & rent amount & said to cover overhead you will have to have sales of $X amount that's $X amount per day, do you think that is possible. Knowing their sales at the current location, it made complete sense to scrap this idea.
Watching him is like watching a chess game, he's thinking 10 steps in advance. Luckily, he explains his thought processes with simple formulas.
One business, he wanted to liquidate all inventory & start fresh. They were selling items for $1 & the owner was having fits. Marcus explained that nobody was buying it at $1, how in the world did he think it was going to sell for a higher price. It's taking space for items that will sell, it's got to go.
I don't feel he ever takes advantage of desperate people & many times insists that key employees be brought in as partners & gives up a portion of his share to make it happen.
As time goes by, many businesses will be included with the others. For example, he bought a furniture business & got it up & running & then bought another unrelated furniture business. Now the 2 businesses make each others items for different regions, cutting shipping costs way down. One owner was fabulous at design but sucked at business & another owner was fabulous at business but sucked at design. He made the designer head of design in ALL his businesses (including the new furniture company) & he made the other furniture owner in charge of BOTH furniture businesses. The new owner balked at having someone else designing & Marcus explained that he was maximizing both owner's potential & that no one could do everything.
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Dipo
Member
04-23-2002
| Wednesday, December 14, 2016 - 2:15 pm
I really enjoy this show.
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Lexie_girl
Member
07-30-2004
| Thursday, December 15, 2016 - 4:09 am
I have watched this show many times.
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Dipo
Member
04-23-2002
| Tuesday, January 03, 2017 - 7:21 pm
Wow, forgot we even had this thread, LOL.
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Jag2000
Member
07-01-2009
| Wednesday, February 15, 2017 - 10:42 pm
Marcus Lemonis is starring in a new program called The Partner. He's looking for someone to become his partner in all his business dealings.
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Dipo
Member
04-23-2002
| Tuesday, July 11, 2017 - 8:01 pm
Did anyone see the show tonight? Bodhi Leaf Coffee Traders, turned into The Red Beard coffee.
There was a guy who was the sales guy, and he would make a statement and 2 seconds later say, I didn't say that. It was the most amazing thing I had ever seen.
I guess he was the owner's wife's cousin or something like that.
It was fascinating watching the guy talk and then deny what he just said. I felt like I was in the Twilight Zone and I think Marcus did too.
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Dipo
Member
04-23-2002
| Tuesday, August 08, 2017 - 7:09 pm
Marcus is at Candescent....a pot growing business in California!
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Willwillbee
Member
09-19-2001
| Saturday, December 09, 2017 - 12:52 am
I was surprised that Marcus could do a turn around on the ridiculous processes of Detroit Jeans.
The owner was adamant that he would only make raw denim (the kind you have to wear a year before they are comfortable) jeans for only men at a price of $250 & then wonder why he had NO sales.
Then the girlfriend/production manager that spent over 3 hours on the creation of 1 jean & this was AFTER a minute by minute analysis of time spent. Marcus helped her get the time down to 30 minutes each.
Then the CPA/partner who wanted to charge $25k sweat equity for his accounting work & the financial statements weren't even real - just some guesses of numbers.
Marcus has a jeans shop, it makes sense to buy a manufacturing plant but these people were stuck in their own lil world.
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