CNBC "The Profit" - Show Made for Warriors!!?? | Warrior Forum - The #1 Digital Marketing Forum & Marketplace

It's like Shark Tank and Bar Rescue had a baby. I watched the premiere episode last night. I'm always amazed with these shows how fast and effective these businesses get turned around by changing the decor or installing the latest widget.

So the keys to success here were 1. Change the decor 2. Buy lower and 3. Sell higher. And get the older brother to respect his younger brother and stop acting like a douche (for the human interest angle).

But the part that befuddles me most is when the older brother goes to NJ to turn around the car he just took in. When he bought it off the consumer, the consumer said book was $15K. The guy lowers its value during the appraisal and offers $14K. Sold.

Then, when he goes to the NJ dealer, he asks 17.5. The dealer counter offers 16. Excuse me? If the book is 15, why's the dealer offering 16 out of the gate?

Then, the older brother uses his amazing sales skills to drive the offer up. He says things like, "C'mon, 17.5!" and "I need to make some money here!" And the dealer finally agrees to 17.2. Again, excuse me?

Maybe its because the billionaire was paying for it all along and wanted to boost the older brother's confidence that he can sell a car and asked the NJ dealer to play along? That's my guess.

Lessons learned about this guy's M.O.? Most important is it's about the "people, process and product." Appearance is very important. And the rest is math.

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TheBigBee

11 years ago

Originally Posted by misterme

It's like Shark Tank and Bar Rescue had a baby. I watched the premiere episode last night. I'm always amazed with these shows how fast and effective these businesses get turned around by changing the decor or installing the latest widget.

So the keys to success here were 1. Change the decor 2. Buy lower and 3. Sell higher. And get the older brother to respect his younger brother and stop acting like a douche (for the human interest angle).

WAIT! You're forgetting he gave them a scaleable - residual money making machine! He changed the business model! The changes he made were a means to an end.

Can't wait to see more!

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vndnbrgj

11 years ago

Yeah, I was kind of boggled by the book price vs. offer price vs. selling price as well.

Needless to say, I wasn't too impressed.
He raised the margins. Lower buying price + cutting out the middlemen = higher margins
Cleaned up the appearance. Resolved some family conflicts. Franchised.
With the exception of the franchise part... I think anyone with some sort of business intelligence and an outside perspective could have done what he did.

I have never heard of this guy before, I think its interesting that he's not well liked.

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Aaron Doud

11 years ago

Haven't watch it myself. But the price thing fits. He owns Camping World which is the largest RV dealer in the nation. Yet I have never seen Camping World be nationally competitive in pricing. You would think they would be a big player but they are not.

I personally feel they buy too high thus can't get down low like those of us who are nationally competitive. It's not that they are making more profit which would be a good thing. It's simply that to make the same profit they have to charge more.

As for why they buy higher I can't get into it completely but it has to do with how their model for RV acquisition is very different from most of the competitive dealers.

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James Foster

11 years ago

What's always interesting about a show like Bar Rescue is the kind of places they turn around.

It's always a total dive. Bad food, crappy staff, and no marketing at all.

So ya, it's easy to show these guys a turn around profit. Hell, if you know what you're doing, it'd be hard NOT to.

Fire the bad eggs, get some fresh ingredients, and actually tell people the place exists.

I should start reaching out to TV stations, I could do a show like that

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NewParadigm

11 years ago

Sure these shows may take a few liberties, but it was a helluva lot better than freakin jersey shore and other crap on TV. It would be interesting to know the exact time period the whole thing actually took, as it was compressed for an hour show. Weeks? months? (ex. My friend was on a 30min bath crasher show that actually took weeks.)

As one of the brothers mentioned to the seller, "book" is only a vague guideline of what the car is really worth, they are really worth what someone will pay you at the moment. It can be off by thousands.

What will be interesting is the longer term results of the businesses that were 'turned around'. I'll be recording this series.

Others I like are:
undercover boss
secret millionaire
bar rescue

good inspiring TV a welcome change to filth and murder/cop shows on 24/7 polluting minds.

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Claude Whitacre 11 years ago

If you missed the show (like I did) and want to watch it online..

Here's a link

CNBC Live TV and Video on Demand
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- Matt Lee 10 years ago
  
  Originally Posted by Claude Whitacre
  
  If you missed the show (like I did) and want to watch it online..
  
  Here's a link
  
  CNBC Live TV and Video on Demand
  
  Thanks Claude!
  
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Aaron Doud

11 years ago

Forgot to update.

I watched it a few days ago. Really enjoyed it and I am curious if they car cash model will work. I've never known a dealership to not buy cars from customers so I'm not sure what the advantage is for the customer vs going to a dealership.

Seems like all you are doing is making $2,000 less vs. going straight to the dealership. Just like he told them to eliminate the middle man the end customer could do the same.

I personally am amazed dealerships in the NYC area don't advertise about buying cars. If you can sell it why wouldn't you buy it? "We Buy Cars" is one of the oldest and best ways to get people onto your lot.

I wonder if NY has some laws that somehow prevent dealers from buying directly from customers. Seems like the kind of crazy thing that state or city would do.

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IneedProfit

11 years ago

Originally Posted by Aaron Doud

Forgot to update.

I watched it a few days ago. Really enjoyed it and I am curious if they car cash model will work. I've never known a dealership to not buy cars from customers so I'm not sure what the advantage is for the customer vs going to a dealership.

Seems like all you are doing is making $2,000 less vs. going straight to the dealership. Just like he told them to eliminate the middle man the end customer could do the same.

I personally am amazed dealerships in the NYC area don't advertise about buying cars. If you can sell it why wouldn't you buy it? "We Buy Cars" is one of the oldest and best ways to get people onto your lot.

I wonder if NY has some laws that somehow prevent dealers from buying directly from customers. Seems like the kind of crazy thing that state or city would do.

I spent a lot of my working life working with and for automotive dealers, so I know a little about it.

Going to a dealership is not cutting out the middleman. A dealership loves to play number games with the foursquare, but in reality, a dealership does not give you much for your car. Also, if a car does not go on the lot, it's wholesaled or auctioned. Most of the trade in prices you get from dealerships are based on the average wholesale bid.

There is a reason why the Carmax model works so well, and it's not from the menu pricing. It's from the perception that they give you more than anyone else for your vehicle.

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NewParadigm

11 years ago

I've seen a couple auto consignment sale lots where you could sell your car. Interesting concept. But I imagine many of the cash for cars customers are very motivated for quick cash though.

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ToryBorysewicz

Banned 11 years ago

Streaming on cnbc to watch this. I had to pipe in. Has anyone watched Shark Tank? Its taken off and I find it very inspiring. Similar theme. Anyone else watch it?

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Aaron Doud

11 years ago

Originally Posted by ToryBorysewicz

Streaming on cnbc to watch this. I had to pipe in. Has anyone watched Shark Tank? Its taken off and I find it very inspiring. Similar theme. Anyone else watch it?

Shark Tank is one of only three shows that I must watch the day they air.

The other two are Doctor Who and Vampire Diaries.

Shark Tank is IMO simply the best reality TV show ever made. And it's not just business people who love it. Everyone I have exposed to it now watches it religiously.

It is to business what Top Gear is to car journalism. It can bring the idea and make it fun for the masses.

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EmergencyMonkey

11 years ago

I streamed the first show last night and was entertained. I love shark tank and dragons den.

Unfortunately for the profit
http://variety.com/2013/tv/news/cnbc...le-1200575819/

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misterme

11 years ago

Originally Posted by EmergencyMonkey

Unfortunately for the profit
CNBC’s ‘The Profit’ in the Red After Week-Two Ratings Tumble | Variety

Not surprised. CNBC's audience is mostly (not all but mostly) the average Joe. Average Joe isn't an entrepreneur. He's a guy with a job who has some stocks, feeding his 401K or IRA and hopes to accumulate wealth some day and gets his brokerage tips from Jim Cramer and financial analysis from Maria. He can't relate to The Profit. 'Nuff said.

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bob ross

11 years ago

Originally Posted by misterme

Not surprised. CNBC's audience is mostly (not all but mostly) the average Joe. Average Joe isn't an entrepreneur. He's a guy with a job who has some stocks, feeding his 401K or IRA and hopes to accumulate wealth some day and gets his brokerage tips from Jim Cramer and financial analysis from Maria. He can't relate to The Profit. 'Nuff said.

Let's not forget Dave and Suze!

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misterme

11 years ago

Shark Tank's fun to watch for O'Leary's commentary, analysis and sound bytes and Cuban's strategy outlines.

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Chuck Avants 11 years ago

Shark Tank is great and Kevin O'Leary makes me laugh.

Mark Cuban can be a bit vicious at times and Lori
Grinear knows what she wants. Hershavek(??) is
too nice and gets beat out on some deals but I bet
the guy is doing just fine.

I would like to see more follow ups of their deals. They did
show a follow up of the Louisiana crab cake guy that didn't
get a deal but found a bunch of people interested after the show.

I thought the Profit might be Shark Tank and follow through.
The first show was good although the concept doesn't make
sense to me for reasons mentioned above.

The second show is about a weasel 49 year old mommas boy
who backs out of the deal. Interesting stuff.
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Mwind076

11 years ago

If you're living under a rock and haven't seen all the shows just like this (some mentioned already):

Bar Rescue
Hotel Impossible
Restaurant Impossible
Tattoo Rescue
Tabitha Takes Over
Tabatha's Salon Take Over
Undercover Boss
Bakery Boss (Cake Boss guy doing the same thing on Bakeries)

I've got this one on DVR, but haven't watched it yet. It's not a new concept though, but I'm interested to see this spin on it, if there is one.

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umc 11 years ago

I don't watch much TV from under my rock, so thanks for the lists. I love Shark Tank and also watch Undercover Boss. There was a show on Fox where the employees would take over the company and make personnel decisions that I enjoyed this year too, but I can't remember the name. I don't care for most TV, other than sports, but I like good business shows as well. Shark Tank may be my favorite show of all time.
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KingOfContentMarketing

11 years ago

I heard they are coming out with IM Newbie Rescue. In the first show, they take an IM newbie who has yet to put up a Wordpress site after seven years, and by the end of the show he has Frank Kern's private cell number.

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misterme

11 years ago

Originally Posted by joe golfer

I heard they are coming out with IM Newbie Rescue. In the first show, they take an IM newbie who has yet to put up a Wordpress site after seven years, and by the end of the show he has Frank Kern's private cell number.

It's called "The Kevin Nations Show."
But it has a twist ending.

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misterme

11 years ago

This is a good episode. Has some examples of growth strategy, how perception can bring in more dollars, the importance of going over financials up front, and how to deal with lies, dishonesty and theft.

CNBC Live TV and Video on Demand

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Aaron Doud

11 years ago

Originally Posted by misterme

This is a good episode. Has some examples of growth strategy, how perception can bring in more dollars, the importance of going over financials up front, and how to deal with lies, dishonesty and theft.

CNBC Live TV and Video on Demand

Yeah that lady was clearly lying abut taking money from the company. I wonder if she will get an IRS audit after this. The show made it clear someone (likely her) was taking cash from the company.

No way would I have went into business with her. Also doesn't seem like she wanted to go into business with him either. She was back stabbing him right from the start.

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Kulp1234 11 years ago

One of my favorite shows (along with Shark Tank)!

Flower guy = spoiled mama's boy who doesn't know the meaning of real work

Car guys = looks like they finally got it together, good for them

Popcorn lady = crazy (and most likely stealing from her company, and lying about her taxes).
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misterme

11 years ago

I don't mean to sound like I'm discussing the latest All My Children episode but she was lying to her own mother, who had taken out a second mortgage on her home for a hundred grand. Did you see when she and her mom were talking and the mom started to question where the money went after Marcus brought it up and the daughter snaps at her with an angry face? Hoo boy what a doll. And that idiot fiance wants to be with her?

Stay tuned for our next episode.
And pass the popcorn.

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Lance K

11 years ago

Originally Posted by misterme

I don't mean to sound like I'm discussing the latest All My Children episode but she was lying to her own mother, who had taken out a second mortgage on her home for a hundred grand. Did you see when she and her mom were talking and the mom started to question where the money went after Marcus brought it up and the daughter snaps at her with an angry face? Hoo boy what a doll. And that idiot fiance wants to be with her?

Stay tuned for our next episode.
And pass the popcorn.

I wouldn't be surprised if her fiance was completely aware of and an active participant in the embezzlement.

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misterme 11 years ago

Originally Posted by Lance K

I wouldn't be surprised if her fiance was completely aware of and an active participant in the embezzlement.

Funny you should mention that. I suspected him in this way, namely, she gives him money and she's protecting him because she looooves him. Meaning, "no one else will ever love me and I'm desperate so I'll do what I have to do to keep him." The clues could suggest that.

Nothing was said about her living a lavish lifestyle or having a way expensive home or toys. Where's the cash? She was okay with them going over the numbers but then 20 minutes later wants to block them. Why the flip flop? What did she suddenly realize? Or did someone make her realize something? She also was adamant that no one came in touch with the money except her - and just as adamant that she wasn't pilfering the money. So where's the cash? She's missing $400,000 and doesn't seem to care. And she'll put her own mom into debt? Who would do that to their own mom unless they were desperate? And this guy - who's engaged to her - is apparently free during the day to come in multiple times in casual clothes. Not working maybe?

'Scuse me ma'am just one more question. Ah... I called my friend Barney. He's an agent over at the IRS. We pulled some records on your fiance just to take a look... he owed $100,000 in back taxes but it looks like he took care of that debt... turns out he also owed $200,000 in gambling debts... but we're wondering how he paid all that because he's unemployed and has no visible means of support..."

I'd love to see the follow up on this one.
Probably be on American Greed sometime soon.
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- teresarothaar 11 years ago
  
  Originally Posted by misterme
  
  I'd love to see the follow up on this one.
  Probably be on American Greed sometime soon.
  
  BUAHAHAHAHA That's exactly what I said to my husband: "The next show we're going to see her on is American Greed."
  
  Among many other lessons from that episode is this one: if you're doing something illegal (like embezzling), lie low and don't tell anyone else about it...and definitely don't go on television.
  
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Aaron Doud

11 years ago

Some people don't care who they screw in business. This episode showed why those type of people really don't get ahead.

I have to say this series so far has been very enjoyable. Much better than most of the rescue type shows I watch.

It's not "Shark Tank good" but still among the better business reality shows on TV.

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Lance K 11 years ago

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- ronr 11 years ago
  
  Saw the episodes about the popcorn lady and the flower guy.
  
  Really makes these business owners look bad. I mean bad in charactor. Too much drama for me. But drama is probably what the public wants.
  
  I hope they show some where the owner needs business help but they are honest, grateful for the help and they get good results.
  
  I'll probably give it one more try if they keep it on the air.
  
  Ron
  
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KingOfContentMarketing

11 years ago

Good review here:

The new entrepreneurs show on CNBC with Marcus Lemonis “The Profit” | Ken McCarthy

Live show here:

http://www.cnbc.com/live-tv/show/The...71713/0/Eco-Me

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Lance K 11 years ago

There is a good reason Marcus is a successful businessman. I'm sure he gets flooded with potential deals. He then selects the ones with great products. Because the people and processes can always be fixed.

That show is just further proof that if you have a winning product, it'll sell even if your processes suck and your people are inadequate. You may hemorrhage cash, but the product will sell. The key is to see the light regarding your processes and people before your stellar product sells you into bankruptcy.

If your product is a dud, it won't matter how great your people are or how streamlined your processes are.
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Lance K

10 years ago

The finale of season 2 is on tonight. Anyone still watch this show? I DVR it. IMO most of this season has been a made for reality TV disappointment. The last episode about the wine bar was pretty good though.

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Kay King

10 years ago

I haven't missed an episode of this show.

The resistance to change fascinates me....and the shortsighted attitude of many of the business owners. Most know they are failing - know people depend on them - but can't get past their ego.

They are reluctant to give up 50% of a failing business when what they can gain is 50% of a thriving, profitable business going forward.

Lemonis is uncomfortably smart and practical. At the same time I've noticed he has really good 'people skills' when that is what's needed.

kay

Edit: When I watch TV I never expect "great" - "not boring" is good enough.

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misterme 10 years ago

Originally Posted by Aaron Doud

I continue to watch it and it continues to be a fun show but nothing great.

I watch it to test myself to see if I can figure out what Lemonis will do.

In the meantime, "Money Talks" has taken over as my new favorite CNBC show.

Originally Posted by Kay King

They are reluctant to give up 50% of a failing business when what they can gain is 50% of a thriving, profitable business going forward.

Studies show that people would rather fail and take down others with them then lose whatever little they have. Like monkeys. Because deep down inside, we are primates.
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mojo1

10 years ago

Originally Posted by Kay King

I haven't missed an episode of this show.

The resistance to change fascinates me....and the shortsighted attitude of many of the business owners. Most know they are failing - know people depend on them - but can't get past their ego.

They are reluctant to give up 50% of a failing business when what they can gain is 50% of a thriving, profitable business going forward.

I'm late to this party and have only recently begun watching after much prodding from a friend. Kay you've nailed it. The ego and denial of the three male owners I've seen so far have been unbelievable. I imagine as I catch up with seasons 1 and 2, I'll see more of the same but am loving Marcus so far.

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DABK

10 years ago

I know a couple of guys who known the Athans Motors guy... It's how I heard about the show.

They're business owners/marketers... always wondered about why he'd opened what he opened where he opened it... He's a few miles west from where he should have been for his vision to work.

But he wouldn't let go.

Yes, I know, some people make it work despite location. But it's best if want to sell cars that are on the expensive side if the people who buy those cars live close by or normally pass by. Or, at least, don't think you're too damn far to respond to your ads.

Change is hard even if it's not involve you taking away from your biggest dream.

Originally Posted by Kay King

I haven't missed an episode of this show.

The resistance to change fascinates me....and the shortsighted attitude of many of the business owners. Most know they are failing - know people depend on them - but can't get past their ego.

They are reluctant to give up 50% of a failing business when what they can gain is 50% of a thriving, profitable business going forward.

Lemonis is uncomfortably smart and practical. At the same time I've noticed he has really good 'people skills' when that is what's needed.

kay

Edit: When I watch TV I never expect "great" - "not boring" is good enough.

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Kay King 10 years ago

Last episode last night was a good one. I'm a key lime pie fanatic and the recipe I use was given to me by a restaurant owner in Key West.

Last night was one of the better shows in the series...made me want pie.

Key West Key Lime Pie Company - Award Winning Key Lime Pie
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Aaron Doud

10 years ago

I continue to watch it and it continues to be a fun show but nothing great.

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Master of Puppets

10 years ago

"In the meantime, "Money Talks" has taken over as my new favorite CNBC show."

Misterme,

Is this about the sports tout in Vegas? If so, I saw the first episode and didn't think there would be a second.

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gearmex 10 years ago

Profit is best show for a while, have followed every episode and read it was renewed for 3rd season so its not going anywhere, It have lot of good pointers for business ideas and things how to do and not to do, sure it have plunders but what is perfect? nothing, take the good stuff out and you are a ahead of the game. Good show.
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misterme

10 years ago

Originally Posted by Master of Puppets

"In the meantime, "Money Talks" has taken over as my new favorite CNBC show."

Misterme,

Is this about the sports tout in Vegas? If so, I saw the first episode and didn't think there would be a second.

Yes. Hard sales, boiler room, big money. The show's got a sharp edge to it.

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Aaron Doud 10 years ago

Originally Posted by misterme

Yes. Hard sales, boiler room, big money. The show's got a sharp edge to it.

Yeah not even really about sports betting as much as it is about boiler room selling to high end clients.

I do wonder how much is real and how much is fake though
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CNBC "The Profit" - Show Made for Warriors!!??

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