The Profit
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.
Marcus Lemonis and Precise Graphix
Precise Graphix is a Manaus, Pennsylvania company doing graphics and millwork for business clients. It’s owned by two brothers, Keith and Dean, who have been running it for 12 years.
Marcus Lemonis Develops a Growth Strategy for Grafton Furniture
Grafton is a third generation family-owned furniture maker launched in 1964. The company is located in Marcus’s home town of Miami. Unfortunately it’s been suffering since the recession of 2008 and if Marcus doesn’t turn it around it may fold.
Marcus presented some interesting stats on family-owned businesses:
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.
The People
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.
Tonnie’s Cupcakes
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]
Recent Comments