small business growth strategies
Marcus Formulates a Growth Strategy for Standard Burger
In this week's episode our hero Marcus travels to Staten Island to visit Standard Burger after almost two years of pleading by Sammy who is one of the owners. There he finds a single location burger joint that's serving mediocre food and losing $5K to $6K per month.
Too many cooks spoil the broth.
The biggest problem holding back Standard Burger becomes evident immediately. The business simply has too many owners none of whom have restaurant experience. All of them have day jobs elsewhere and behave like absentee landlords. To Marcus's shock no one has responsibility for the day-to-day operations of the business. When he asks an employee who she'd call in the event of a fire, she doesn't have an answer.
As background, Tonnie learned how to bake cupcakes from his mom and started a business baking them in 2006 in New York City. Initially things went well for the business as it won accounts with Macy's and Bloomingdales. It even expanded to three stories. Unfortunately, Tonnie is a bad manager and as a result lost his big corporate customers and was forced to shut down two of the shops. When Marcus arrives there's only one shop left and it's swirling the drain. Will Marcus be able to save it? [Cue dramatic music]
How are Marcus's Small Business Growth Strategies Working?
In the second episode of season 3, Marcus returns to some of the companies he invested in during season 2 to show us how they are doing. To be frank, I would have preferred a regular episode at this point with Marcus focusing on what he does best which is creating growth strategies for small business. The review episodes are best left for season's end.
So let's look at what we learned last night:
Marcus Lemonis and the custom drum company
The Profit is back. Finally!
The master of small business growth strategies, Marcus Lemonis, has returned for a third season with a strong opening episode. SJC Custom Drums of Southbridge, MA was launched in 2000 by brothers Scott and Mike to design and build high quality drum kits. Over the years the company has provided kits to a number of professional bands including Green Day and Lady Gaga. The "s" in SJC stands for Scott who was the designer and technical genius behind the company's products. Unfortunately, the brothers had some differences early on which led to very bad blood between them and culminated in Mike finally making an offer to buy Scott out of his 50% equity stake. Scott accepted the offer 5 years ago and has not been on speakers with his brother since.
Marcus Lemonis, the master of small business growth strategies, is back tonight with the third season of his hit show The Profit.
More good news from Sweet Pete's: