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6 Valuable Lessons on How to Turn a Profit - @cnbc @marcuslemonis #TheProfit

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How to turn a profit. 6 valuable lessons learned from season one of the hit tv show The Profit starring marcus lemonis on CNBC. Of the 6 struggling businesses Marcus attempted to help, 3 were a …

How to turn a profit. 6 valuable lessons learned from season one of the hit tv show The Profit starring marcus lemonis on CNBC. Of the 6 struggling businesses Marcus attempted to help, 3 were a success, and 3 were not.
we can learn from all of them.

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  • 1. VALUABLE LESSONS LEARNED FROM THE HIT TV SHOW season  one  of^
  • 2. CHAIRMAN & CEO CAMPING WORLD AND GOOD SAM ENTERPRISES 6,000 EMPLOYEES IN OVER 100 CITIES CLOSE TO $3 BILLION IN SALES IN 2013 SERIAL ENTREPRENEUR @MARCUSLEMONIS FEATURED ON NBC’S CELEBRITY APPRENTICE APPEARED ON ABC’S REALITY TV SHOW SECRET MILLIONAIRE
  • 3. “BUSINESS SUCCESS IS ALL ABOUT THE
  • 4. OF THE 6 STRUGGLING BUSINESSES MARCUS ATTEMPTED TO HELP, 3 WE’RE A SUCCESS, AND 3 WE’RE NOT. WE CAN LEARN FROM ALL OF THEM. HERE ARE SIX TAKEAWAYS FROM SEASON ONE:
  • 5. CAR CASH, A FAMILY BUSINESS OPENED IN 1977 THAT BUYS AND RESALES USED CARS. TODAY, RAN BY TWO BROTHERS WHO DID NOT SEE EYE TO EYE AND WERE DOWN $70,000 AND $200,000 IN DEBT.
  • 6. THE PEOPLE WE’RE GOOD, BUT THE PRODUCT AND THE PROCESS WASN’T AS EFFICIENT AS IT COULD BE. PROCESS PRODUCT
  • 7. MARCUS STEPPED IN AND OFFERED $200,000 + $300,000 LINE OF CREDIT AT 7.5% INTEREST AND FOR THE RIGHTS TO A LICENSING AGREEMENT.
  • 8. IMPROVED THE CAR APPRAISAL AND SALES PROCESS MARCUS REBRANDED AND REMODELED THE BUSINESS AND POSITIONED IT TO BE A FRANCHISE MODEL
  • 9. TODAY, 1-800-CAR-CASH HAS 70 FRANCHISES AND GROWING ALL OVER THE UNITED STATES.
  • 10. - MARCUS LEMONIS “ ”
  • 11. JACOB MAARSE A HIGH END FLORIST AND FAMILY BUSINESS OPENED IN 1966. TODAY WITH 32 EMPLOYEES IS RUN BY THE FOUNDERS SON WITH SALES DOWN AND $300,000 IN DEBT.
  • 12. THE PRODUCT WAS GOOD, BUT THE PEOPLE AND PROCESS WERE FLAWED.
  • 13. MARCUS OFFER IS SIMPLE AND OFFERED $100,000 FOR 25% OF THE FUTURE PROFIT.
  • 14. THE SALES FLOOR AND PRODUCTS MARCUS GOT RID OF EXCESS INVENTORY, AND INTRODUCED A BAR CODE SYSTEM INSTALLED SECURITY CAMERAS AND GPS TRACKING ON VANS REMERCHANDISED
  • 15. BUT, AFTER ALL OF THE IMPROVEMENTS, THE OWNER HANK BACKED OUT OF THE DEAL BY NOT TAKING RESPONSIBILITY AND STEPPING UP TO THE PLATE.
  • 16. “ ” - MARCUS LEMONIS
  • 17. LESSON THREE:
  • 18. PLANET POPCORN A POPCORN BUSINESS WITH $2.5 MILLION IN REVENUE COULDN’T SEEM TO MAKE A PROFIT WITH OVER $200,000 IN DEBT.
  • 19. THE PRODUCT WAS GREAT, BUT AGAIN THE PEOPLE AND PROCESS WERE FLAWED.
  • 20. MARCUS OFFERS SHARLA $200,000 FOR 50% OF THE BUSINESS WITH A CONTINGENCY THAT THEY FOCUS ON SELLING POPCORN SOLELY.
  • 21. MARCUS CREATED A FUNCTIONAL WEBSITE REBRANDED THE PRODUCT INSTALLED SECURITY CAMERAS TO MONITOR AND PREVENT CASH THEFT IMPLEMENTATION OF INVENTORY TRACKING AND SALES STRATEGY
  • 22. IS MISSING AND CONFRONTS SHARLA. THE CONVERSATION GETS HEATED AND MARCUS IS TOLD BY THE ACCOUNTANT NOT TO DO THE DEAL. MARCUS FINDS OUT THAT MORE THAN $80,000
  • 23. - MARCUS LEMONIS “ ”
  • 24. EC0-ME A ALL NATURAL CLEANING PRODUCT COMPANY WITH $500,000 IN REVENUE, BUT CLOSE TO $500,000 IN DEBT.
  • 25. THE PEOPLE AND PRODUCT WAS OKAY, BUT THE PROCESS NEEDED HELP.
  • 26. MARCUS OFFERED $500,000 PLUS WORKING CAPITAL FOR 20% OF THE FUTURE PROFIT.
  • 27. MARCUS INVESTED IN MACHINERY TO INCREASE PRODUCTION AND WORKED WITH THE SALES TEAM TO BRING IN NEW ACCOUNTS REBRANDED ALL OF THE PRODUCTS AND PACKAGING
  • 28. TODAY, THE BRAND OF THE PRODUCT IS VERY CLEAR. ECO-ME SALES ARE UP 50%, AND IT’S LOOKING GOOD ON THE ROAD TO 10 MILLION DOLLARS IN SALES.
  • 29. - MARCUS LEMONIS “ ”
  • 30. LA DOGWORKS A 24 HOUR DOG FACILITY GENERATING $1.3 MILLION A YEAR, BUT LOSING MONEY AND IS $150,000 IN DEBT.
  • 31. THE PRODUCT AND PROCESS WAS GOOD, BUT THE PEOPLE WERE THE PROBLEM.
  • 32. MARCUS OFFERED $1 MILLION DOLLARS FOR 50% OF THE LA DOGWORKS BUSINESS.
  • 33. MARCUS RAISED REVENUE BY INCREASING DOG OCCUPANCY AND WORKED WITH THE DYSFUNCTIONAL MANAGEMENT TEAM SPRUCED UP AND PAINTED THE BUILDING, AND ADDED NEW LOGOS FOR BRANDING
  • 34. BUT, IRATE OWNER ANDREW WAS MORE THAN MARCUS COULD STAND AND BECAME MORE OF A THERAPY SESSION THAN A BUSINESS TRANSACTION. MARCUS WITHDRAWS HIS MILLION DOLLAR AND DRIVES OFF.
  • 35. - MARCUS LEMONIS “ ”
  • 36. MR. GREEN TEA, A GOURMET ICE CREAM COMPANY, GENERATING $2.5 MILLION IN REVENUE, BUT REMAINING STAGNATE IN GROWTH.
  • 37. THE PEOPLE AND PRODUCT WERE OKAY, BUT THE PROCESS NEEDED HELP.
  • 38. MARCUS OFFERED $600,000 DOLLARS FOR 35% OF THE MR GREEN TEA BUSINESS.
  • 39. MARCUS ELIMINATES FAMILY FRICTION AND DISAGREEMENT AND ELIMINATING THE CO-PACKER INVESTED IN A NEW WAREHOUSE FACTORY DEVELOPED NEW FLAVORS AND EXPANDED CLIENT BASE
  • 40. WITH THE CO-PACKER GONE AND THE NEW FACTORY PRODUCING 1,600 GALLONS OF ICE CREAM PER DAY, THE MARGINS WILL AUTOMATICALLY DOUBLE FROM $450,000 TO $900,000.
  • 41. - MARCUS LEMONIS “ ”
  • 42. SHIFT OUT OF PARK AND INTO DRIVE. DON’T INVEST IN GOOD SOIL WITH A BAD SEED. FOCUS ON WHAT BRINGS IN THE BIG CHEESE. CLEAN UP YOUR ACT AND MAKE IT HAPPEN. IF YOUR SHIT STINKS, FIX IT. DO SOMETHING DIFFERENT OR YOU MAY GET CREAMED.
  • 43. - MARCUS LEMONIS “
  • 44. TUNE IN EVERY TUESDAY @10P ET ON
  • 45. click  here^
  • 46. THENOUNPROJECT.COM THEPROFITFANS.COM CNBC.COM/THE-PROFIT