Billionaire Growth Strategies
Many fans are asking about how successful Marcus Lemonis’s growth strategy has been to date.
According to Marcus, his total investment to date since launching The Profit has been $31.5 million. He elaborated, “I know exactly what I’ve invested. I’ve invested just a little over $31.5 million as I sit here today, with another $4 to $5 million to go into the businesses that have been on the show for this particular season.”
Marcus’s Growth Strategy for Bentley’s Corner Barkery (not bakery)
This is one of the very best episodes to date.
Background
Bentley’s is a small chain of natural pet food stores which finds that it is growing too quickly for its own good. The business was launched in 2008 by Lisa and Giovanni Senafe. The owners refer to it as “the Trader Joe’s for pets.” It has seven stores in the Chicagoland area. The Senafes own 70% with a silent investor holding the remaining 30% of the equity in exchange for $300k.
The Growth Strategy Used by AppleTree Answers
Back in 1995 John Ratliff, aged 24, came up with an idea for a new business that could provide him with a livelihood and, hopefully, a bit more. It was an answering service he named AppleTree Answers. The business was launched from a spare room at his two-bedroom apartment in Wilmington, Delaware.
AppleTree Answers’ Services
The company served as its business client’s back office by handling inbound calls, emails, and website queries.
So How are Marcus’s Growth Strategies Panning Out?
In this ninth, and I assume penultimate episode, of the third season, Marcus revisits three businesses from the first two seasons to let us know how they are doing.
Sweet Pete’s Candy
I was very impressed, as I am sure you were, with the rapid growth of Sweet Pete’s Candy. Pete and Allison are the kind of honest and hardworking people you really want to see do well in business.
Marcus Lemonis Develops a Growth Strategy for The Lano Company
The Lano Company is a Kansas City, Missouri based business launched ten years ago by Miranda when she developed a lanolin lip balm. Since then she and her business partner husband Layne have expanded the product line dramatically and grown the top line to $2.4 million as of 2014.
Let’s look at the situation using the 3Ps.
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