Marcus Lemonis
Marcus proposes a growth strategy for KOTA Longboards.
The company was launched three years ago by Mike a former navy fighter pilot. His wife Nikki is a partner in the company. It designs, builds, and retails long skateboards known as longboards. It’s located in Denver, Co. KOTA stands for Knights of the Air.
Product
Anytime I can find a product that gets people outdoors that’s a product I’m interested in. – Marcus
The company offers only one model which is very highly priced for the market. Each unit costs $116 to finish and is then retailed for $329. The price will be going up to $349 shortly.
Marcus develops a growth strategy for Goth candle-maker Wick’ed.
Background
The Burbank-based company was launched five years ago by spouses Mark and Sam(antha) Biren who own it 50/50. The company has never made a profit.
Financials
Marcus is met with resistance when he informs Mark and Sam that despite the company being five years old it’s still a startup due to its weak financial position. Sales have been declining, it’s losing money, it owes money to a credit card company and an investor, and there’s no working capital. Sam’s day job is the only thing keeping them afloat.
Marcus Develops a Growth Strategy for Kensington Garden Rooms
Kensington Garden Rooms (“KGR”) is a Hilmar, CA based business owned and operated by two Brits who moved to the USA in 2012, Damion Merry and Simon Johnston. It sells high priced luxury gazebos which serve as entertainment centers.
Marcus develops a growth strategy for a chain of blue jean retailers.
It’s nice to see Marcus on the best coast for a change. This was an odd episode which I attribute to the editing team leaving important scenes on the cutting room floor.
Background
The owner of Blues Jean Bar, Lady Fuller (“Lady” is her actual first name), founded the chain of blue jean stores. At one point there were thirteen stores stretching from the Bay Area to Boston but a lack of profitability forced her to shutter ten of them. Now only three remain in San Francisco, Dallas, and Chicago.
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.”
Recent Comments