The Profit - KOTA Longboards Update

Tonight on The Profit Marcus Lemonis is in Denver, Colorado with hopes of making a deal with KOTA Longboards.  KOTA Longboards is a skateboard company owned by former US Navy pilot Mike Maloney that specializes in handcrafted high quality longboards.  The problems the company faces include a high employee turnover rate and a limited production line.  Also, Marcus brings in skateboarding legend and entrepreneur Rob Dyrdek to offer some advice on this episode.

Let's take a look at some information related to KOTA Longboards as well as what kind of deal was made on the show.

The Profit - Wick'ed Candle Company (Biren & Company) Update

Tonight on The Profit Marcus Lemonis is in Los Angeles, California with hopes of making a deal with Wick'ed Candle Company.  Wick'ed Candle Company is a niche candle company created by Samantha Schacher and her husband Mark, which is struggling to break into the market.  Despite being in some larger retailers, they have yet to make a profit and their working capital is dwindling.

Let's take a look at some information related to Wick'ed Candle Company as well as what kind of deal was made on the show.

The Profit - Betty's Pie Whole Update

When the deal fell through for Da Lobsta on the latest episode of The Profit, Marcus Lemonis was in Encinitas, California with hopes of making a deal with Betty's Pie Whole.  There are two locations of the business, and they are not bringing in a profit for the owner Betty.  Also, it seems that Betty doesn't know her business and doesn't even have recipes written down.

Let's take a look at some information related to Betty's Pie Whole as well as what kind of deal was made on the show.

The Profit - Da Lobsta Update

Tonight on The Profit Marcus Lemonis is in Chicago, Illinois with hopes of making a deal with Da Lobsta.  Da Lobsta is a fast casual restaurant that also has a food truck specializing in lobster rolls and other lobster dishes.  While Marcus is there, he finds there is tension among the employees with conflicts between the front and the back of the house.  Also, the owner J is using money from the business for his personal eating and entertainment expenses.  The financial situation of the business has also strained the relationship between J and his father.

Let's take a look at some information related to Da Lobsta as well as what kind of deal was made on the show.

The Profit - Kensington Garden Rooms Update

Tonight on The Profit Marcus Lemonis is in El Dorado Hills, California with hopes of making a deal with Kensington Garden Rooms.  Kensington Garden Rooms is a company specializing in hand crafted luxury gazebos and was started by two friends from England.  Their relationship is currently at a breaking point due to the business having inefficient processes and poor workplace conditions.  Their warehouse is in the middle of an almond farm and there is no working bathroom in the facility. 


Let's take a look at some information related to Kensington Garden Rooms as well as what kind of deal was made on the show.

The Profit - Denim & Soul (Blues Jean Bar) Update

Tonight on The Profit Marcus Lemonis is in San Francisco, California with hopes of making a deal with Blues Jean Bar.  Blues Jean Bar is a denim retailer with the concept of serving jeans at a bar setting rather than drinks.  The business is suffering from poor management and overly aggressive expansion.  At one point they expanded to 13 stores, but now there are only three stores remaining.

Let's take a look at some information related to Blues Jean Bar as well as what kind of deal was made on the show.

The Profit - Bentley's Corner Barkery Update

Tonight on the season premiere of The Profit Marcus Lemonis is in Chicago, Illinois with hopes of making a deal with Bentley's Corner Barkery.  Bentley's Corner Barkery is a small chain of natural pet food stores that is growing too quickly for its own good. They also are stubborn in the way they choose the pet food companies that sell in their store.  Marcus needs to help the husband and wife owners "sharpen their focus and strengthen their execution" to make their business more successful.
 
Let's take a look at some information related to Bentley's Corner Barkery as well as what kind of deal was made on the show.

The Profit - Sweet Pete's Continues Expansion

Sweet Pete's candy shop, which was featured on season 2 of The Profit has announced they acquired a candy business to expand into Lake Forest, Illinois.  They acquired Jolly Good Fellows Sweet Boutique in Lake Forest, which they will convert into a full-service Sweet Pete's Candy Shop.  Co-Owner Allison Behringer stated in the press release:

"Over the past 12 months we have experienced tremendous growth based on having the proper people, process and product at our Jacksonville, Florida facility and we will be reviewing additional markets across the country and opportunities in which to expand our Sweet Pete's brand." 

The new Lake Forest location will have a candy factory, dessert bar, and a 2,000 square foot event room for catered events, candy making classes and birthday parties.  As Marcus Lemonis is local to Chicago, you would expect him to be involved quite a bit with the new Lake Forest store.

Sweet Pete's original location was in Jacksonville, Florida which was the location featured on The Profit.  During that episode Marcus Lemonis made a deal to become a 50% partner.  Since the episode aired, Marcus bought a mansion in downtown Jacksonville and renovated it.  This 23,000 square foot location now houses Sweet Pete's and has become a local attraction with tons of positive reviews.

The press release states that this Lake Forest acquisition kicks off a "national expansion," so it will be interesting to see if Sweet Pete's expands into other cities.

The Profit - The Lano Company Update

Tonight on The Profit Marcus Lemonis is in Kansas City, Missouri  with hopes of making a deal with The Lano Company.  The Lano Company is a cosmetic company that uses lanolin in its lip balm products.  The company grew from owner Miranda Coggin's kitchen in 2005 into a business with over $3 million in revenue.  Despite the high sales, the owners keep expanding into new products and have issues with their branding.  The Lano Company is currently making a profit, but believe they have a lot of room to grow.
 
Let's take a look at some information related to The Lano Company as well as what kind of deal was made on the show.

The Profit - Precise Graphix Update

Tonight on The Profit Marcus Lemonis is in Emmaus, Pennsylvania with hopes of making a deal with Precise Graphix.  Precise Graphix is a company that specializes in retail custom design, manufacturing, and retail services.  They help companies with brand development and also provide options for custom millwork services.  The company is losing money despite generating millions of dollars in sales.

Let's take a look at some information related to Precise Graphix as well as what kind of deal was made on the show.

The Profit - Grafton Furniture Update

Tonight on The Profit Marcus Lemonis is in Miami, Florida with hopes of making a deal with Grafton Furniture.  Grafton Furniture is a high-end custom furniture business that has been in business for over 50 years.  They are fairly successful but think they can improve and expand by improving their process.  They are still using older equipment  and the owner is resistant to change, but they would like to decrease their lead time in making the custom furniture.

Let's take a look at some information related to Grafton Furniture as well as what kind of deal was made on the show.

The Profit - Fuel Food Update

Photo - CNBC

Tonight on The Profit Marcus Lemonis is in West Palm Beach, Florida with hopes of making a deal with Fuel Food.  Fuel Food is a company that provides fresh, healthy meals that are delivered to customers.  Despite increasing sales, Marcus feels that the corporate culture of Fuel Food is off and they could improve their shipping process.  Also, it isn't too clear who is invested in the business.

Let's take a look at some information related to Fuel Food as well as what kind of deal was made on the show.

The Profit - Standard Burger Update

On tonight's episode of The Profit, Marcus Lemonis is in Staten Island, New York with the hopes of making a deal with Standard Burger.  Standard Burger is a burger restaurant co-owned by four friends who no longer get along.  They all have other jobs and no one is there to run the day-to-day operations of the restaurant.  The restaurant is losing $5,000 to $6,000 a month, and Sammy(an owner) has been emailing Marcus Lemonis for two years trying to get on The Profit.

Let's take a look at some information related to Standard Burgers as well as what kind of deal was made on the show.

The Profit - Tonnie's Minis Update

On tonight's episode of The Profit, Marcus Lemonis is in Inwood, New York with the hopes of making a deal with Tonnie's Minis.  Tonnie's Minis is a struggling cupcake shop that has had to close a few of its stores.  They once had large corporate accounts, but now have a business that is in debt and that has been using Tonnie's wife's money to keep it afloat.  Marcus, who also owns the Crumbs cupcake chain was attracted to Tonnie's due to his build-your-own cupcake concept.

Let's take a look at some information related to Tonnie's Minis as well as what kind of deal was made on the show.

The Profit Season 3 Update Episode - Coopersburg Sports, Key Lime Pie Co., Artistic Stitch, and Unique Salon & Spa

Tonight on a new episode of The Profit, there will be an update on four businesses that have appeared on season two of the show.  Marcus Lemonis will be revisiting Coopersburg Sports, Key Lime Pie Co., Artistic Stitch, and Unique Salon & Spa and will give updates on which businesses have flourished and which have gone south since being on the show.

From The Profit Updates Page, some information is already known about each of the businesses, and during the episode any new updates will be added below.

Coopersburg Sports

• Info already known:
• Still open and has expanded into more product lines with Coopersburg Products LLC.  
• They appear to have licenses with the NCAA, NFL and NASCAR

• Other information revealed on update episode:
• Marcus' actual money invested in the company was $1.4 million for payables, the new lease and new inventory.
• Additional profit of $75,000 per year due to their new warehouse process
• Sales increased from about $2 million to $3 million in a calendar year and the margins are also up around 12%.

Key Lime Pie Company

• Info already known:
• Has great online reviews and sells a lot of pies through their website
• Has partnered with Crumbs Bakery (who Marcus is also invested in) to offer frozen Key Lime pie bars. 
• Marcus has given Tami 25% stake in the company.

• Other information revealed on update episode:
• Went from losing $100,000 a year to making money.
• Marcus' investment almost doubled due to issues he did not know about when the original deal was made.
• Went from $1 million in sales to about $1.2 million in sales and margins increased from 15% to 35%.  Went from 100k loss to a 100k profit.
• Jim and Alison were bought out and are not involved into the day-to-day operations.

Artistic Stitch

• Info already known:
• The business is still open but is not listed on Marcus Lemonis' website.  So this is expected to be a deal that went south.

• Other information revealed on update episode:
• Sal and Nick started taking a salary which wasn't negotiated.
• They didn't use any of the money Marcus provided to pay the landlord past due rent, so Marcus cut ties.
• The basketball court was back in operation and the printer was sold to someone.
• Marcus gave Sal a 1099 tax form from his investment.

Unique Salon & Spa

• Info already known:
• Still open and both the salon and the hair care line "Erika Cole by Raquel" seem to be doing well.

• Other information revealed on update episode:
• Unique Salon & Spa was named one of the top 20 salons in America.
• Carolyn is still acting as General Manager but is not always taking her paycheck.
• Sales in 2014 were $1 million and the projected sales for 2015 are about $1.4 million and margins have increased.

The Profit - SJC Custom Drums Update

On the season 3 premiere of The Profit, Marcus Lemonis is in Southbridge, Massachusetts with the hopes of making a deal with SJC Custom Drums.  Despite a massive following, they have issues with inventory, turn around time for their product, low margins and working capital.  Mike and Scott are two brothers that founded the company and Mike actually bought out Scott because they could not coexist.

Let's take a look at some information related to SJC Custom Drums as well as what kind of deal was made on the show.

All CNBC's 'The Profit' Business Updates

I have put together a list of ALL businesses that have appeared on The Profit, and whether they are still open and if Marcus Lemonis is still invested in them.  This list will be kept up-to-date and will be updated as more episodes air and when businesses are closed, sold, etc.

There is a tab at the top of the webpage called "CNBC's The Profit Updates," or here is the direct link to the page.  This page has each episode listed, along with the status of the business, whether Marcus Lemonis is invested in the business, and any relevant links.  So head over to there to see the detailed analysis of all businesses that have appeared on The Profit.

Also, keep an eye out for detailed updates for upcoming episodes and past episodes on this blog and Follow Us on Twitter or Like Us on Facebook.

The Profit - A. Stein Meat Products Update - Settlement Reached In Lawsuit

Photo - CNBC

Marcus Lemonis and A. Stein Meat Products, which was featured on season 2 of The Profit, reached a settlement on April 29th, 2015 in their ongoing lawsuit.  The settlement terms were kept confidential, so it isn't clear what was agreed to by both parties, but here is a link to the court document.

For a little background on what happened before, during, and after the episode aired, here is a little timeline with some information:

• The episode aired on March 4, 2014 and on the show Marcus offered about $200,000 ($190,000) for the trademarked brand Brooklyn Burger.
• On March 5, 2014, Marcus posted the following message on his Facebook page:

"Since there are great opinions being offered up that represent both sides I thought I would clear the air.

The offer that was made for one million is based on representations made by the two owners. They provided me data and told me what balances were. The whole they represented was around 500k. Additionally, the accounting system used here was antiquated.

Let's be clear about this. At no point did I accuse either of them of lying. They simply told me one number and it was off by two million. All parties involved know that the check doesn't get cashed until I sign off on the financials and sign paperwork.
Upon learning of the disastrous discrepancy I offered to still stay and help but told them it wasn't a good investment for me.
I then was asked for money after I pulled out of the deal to fund payroll and other bills. I clearly told them that I can't just give them money. We agreed that I would buy brooklyn burger which only generated 1 million of the 50 million of sales they had. I wired the money the next day on a handshake without paperwork because they told me their word was their bond. They were able to make payroll and cover bounced checks. That was a month ago. We still have yet to finish the transfer. They have been unavailable by phone and have been busy. As you can see from the article that ran Monday, there was no mention of the delay in following thru. I trust that they will comply with our agreement. A number of negative comments on here are from family of the owners. I sympathize with the situation and as I have told them would meet in person with them including the owners.

I would respectfully request that we don't attack their company or the owners. Business is business and it should never become personal. While I'm frustrated and disappointed in how things are being handled I have confidence that people ultimately do the right thing."

• In May 2014, Marcus Lemonis filed a lawsuit saying he paid them $190,000 for Brooklyn Burger and never received anything.  The A. Stein owners claim the money was a loan to help out with their working capital needs. A. Stein meats was also in negotiations to sell their business to King Solomon and were going to include Brooklyn Burger in the sale.  There were 5 counts against A. Stein Meat Products and King Solomon. (All documents relating to the case)
• According a court document (page 4), in October 2014, A. Stein defaulted on all of its debt and their assets including Brooklyn Burger were foreclosed upon by First Capital. First Capital sold the Brooklyn Burger trademarks to Hercules Food Corporation.
• In March of 2015, the court ruled that a filmed verbal agreement does not equal a written contract and counts I through III and count V of the lawsuit were dismissed. Count IV remained open. (Page 12)
• April 29th, 2015 - A settlement is reached on the remaining count (IV) of the original lawsuit, but the terms of the agreement are not known.

It appears that Marcus wanted the Brooklyn Burger brand more than he wanted his money returned as the documents say he was offered repayment by A. Stein.  If the terms of the agreement are made public, this post will be updated with that information.

UPDATE - In 2020, A. Stein Meat company owners got in trouble and plead guilty to federal charges of conspiracy to commit wire fraud.  This was because they were putting fake labels on their low-grade beef to inflate the prices.  They were removing their "choice" quality stamp and replacing with a counterfeit "prime" quality stamp.  Owners Howard Moya and Alax Buxbaum are now facing up to 20 years in prison and a criminal forfeiture of $250,000. (Link)

Welcome To The Profit Updates

This blog was created to track the businesses that appear on CNBC's The Profit.  As the third season of The Profit starts on May 12th, 2015, new episodes will have updates on the day that the episode airs.  The previous two seasons will be also be tracked as to whether the businesses are still open and whether Marcus Lemonis is still invested in the business.

So stay tuned and check back as we start creating updates for the show.  It will give an insight into the success rate of the businesses that appear on The Profit.  A page that continually updates all of the businesses that have appeared on the show will be live shortly and I will do a post when it is ready.