The Profit In 10 Minutes: Amazing Grapes | CNBC Prime
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- Опубліковано 21 вер 2024
- The “Amazing Grapes” episode is now available to watch in only 10-minutes! Catch all new episodes of “The Profit” Tuesdays at 10P ET on CNBC. Hear the Full Episode with The Profit Podcast: megaphone.link...
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About The Profit:
When Marcus Lemonis isn’t running his multi-billion dollar company, Camping World, he goes on the hunt for struggling businesses that are desperate for cash and ripe for a deal. In each one-hour episode of The Profit, Lemonis makes an offer that’s impossible to refuse; his cash for a piece of the business and a percentage of the profits. And once inside these companies, he’ll do almost anything to save the business and make himself a profit; even if it means firing the president, promoting the secretary or doing the work himself.
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The Profit In 10 Minutes: Amazing Grapes | CNBC Prime
I remember this episode. I remember feeling immense satisfaction on how the arrogant owners got owned at every turn and how the employees were valued and taken care of by Marcus. Well done Marcus.
What about what Marcus did to those employees after the show aired?
In later interviews Marcus stated that Amazing Grapes was one of his biggest disappointments.
Yeah I agree and several times Marcus even puts up more money to build out stuff. Most of these companies Marcus invest In if it wasn't for Marcus they would go out of business or keep being very small. People listen to when they do the negotiations and Marcus talks about the financials many are hurting. Couple Marcus had audited they were losing an additional
Two million bucks. Marcus stayed around for the people in some and some he just walks away. People don't realize not just about revenue but net income. You can make millions and still lose a ton of make very little.
This show is amazing. I'm learning a lot here.
That looks SO MUCH better, I would like to visit!
Too bad, they closed
@6:21 Marcus forgot to say “I’m 100%in charge”.....😆💰
He did, the footage wasn't shown on the clip but on the full episode
lol
That was a great episode.
I approximate that each new employee/owner stake earns around $13k/year profit, so he gave them something valued at around $156k each (at a 12x earnings valuation) when the deal closed. I wonder if it is non-transferable and terminates upon departure, though.
“Oh I’m not a consultant, I write checks” 😂😂😂
Wow that was just awesome. Good to see that some millionaire business ppl really do appreciate their employees.
Most that started the business do they can understand they would have nothing if it was for the staff imagine a retail store without cashiers
Marcus , you are real Genius
How sweet the song........
Nice one Marcus. Well done.
Amazing Grapes Shuts Down
Things seemed to go downhill from there. Amazing Grapes shut down operations nearly three years after Marcus’ original investment in the company.
A message posted on Facebook by Dan Isenhart, the former wine buyer, and managing partner at Amazing Grapes, announced the closing with a long list of serious grievances and accusations against Marcus and his management company. The two went back and forth on Twitter, with both threatening legal action.
While little information could be verified about the fate of the business and what really happened, there is really only one thing that is undeniable. After securing a deal and completing renovations that seemed to have been a great success, Amazing Grapes is no longer in business.
Good to know the entire story. But why did they need Marcus’ help in the first place? Because they probably would have shut down operations sooner. If it took 3 years later to go out of business, I don’t think Marcus is entirely to blame. Unless it was within the short term. Then we can point a finger.
I'm pretty sure it came down to poor management in the end.
Ya this place shut down cause old employees sued ownership. Apparently marcus lever legally owned this place due to specific renovations left incomplete... so he dodged the legal fees (very slick Mr lemonis) 😆 sad cause it sounded like a heartwarming business venture
That sucks
You left out the part when Marcus chewed out the one employee for telling the mayor, without Marcus' approval, the place was closing down for renovations.
Funny that Marcus didn't know a thing about wine . This reminded me of someone who goes to the hospital for "simple" surgery then dies.
Do you give equity to employees or they have to put money?
Nice Video
I thought this business was closed about 3 years ago?
How in the world can he manage 51% of this, AS WELL AS ownership in every other episode of The Profit? I wonder if he sells his interest once the business scales higher than his investment.
this place still went under...post Marcus
It did?
The Profit closed Lyles BBQ this week.
Why?
@@sunsetlights100 ok
The staff should be wearing suits....make it more classy looking especially in a wine lounge...
Nah
Most popular wines sell for under 25$
Sadeek Ali
Wine can be intimidating to Americans. Suits can be intimidating in retail.
Been to over 80 wineries, never saw staff in suits. Been to over 40 wine retailers/wine bars never seen staff in suits.
It's in a strip mall, even though they had highend wines, you don't want to scare away any potential customers.
Cheers!
Too bad in this country people are not looked at as being the biggest asset...
The Profit. Hype and Hollywood. This place folded along with lots of other businesses he invested in. This is more entertainment, than reality fare.
Can’t believe people give him 51%
I mean do you want someone to get 51 and potentially that 49 be worth millions or most likely them be in debt and business shutdown