Skip to main content

tv   The Profit  CNBC  April 28, 2020 10:00pm-11:00pm EDT

10:00 pm
when i talk to my grandkids -- "i knew mark cuban." "where's he now, daddy?" [ laughs ] "he's in hell." [ laughter ] ♪ lemonis: one second, okay? ramona: i love this man. lemonis: so where did ramona go? she went to eat? ramona: one sec. one sec. lemonis: did she go eat? that's not right. ramona: no! taylore: i know, right? i am starving! lemonis: so tonight, i'm going to bring you an inside look at an episode from season 4: "ashtae products." it's in greensboro, north carolina, and this could be... hold the phone for a minute. this could be maybe the most fun family
10:01 pm
that we've ever had on the show minus michael, of course, right, michael? ramona: especially michael! lemonis: we're gonna go ahead and get started any time we want. taylore: wait, is this real? like, we're really starting? ramona: yes. yes, you're starting, taylore. taylore: oh, okay. lemonis: over the years that i've been making "the profit," i've visited countless businesses. let's go make some money! [ horn honking ] i've traveled the country to try and fix the people... and you do $1 million a year? you should be proud of that. man: but we don't know how to keep any of it. lemonis: ...fix the process... you see? it flimsy. don't ever make these again. you don't sell them. ...and create a few products. juli: it reduces anxiety and depression. lemonis: i kind of like it. i spent countless days working on these companies. how much money did you burn through? parker: $650,000. lemonis: but we can't always fit everything i'm thinking into the show. so tonight, we're gonna give you an inside look at an episode from season 4 -- "ashtae products." michael: shake it! lemonis: over the next hour, i'm gonna take you
10:02 pm
behind the scenes to share with you what i was actually thinking during filming... how do you think the booth looks? taylore: better than it did last year. lemonis: oh [bleep] taylore: we physically put together those shelves. lemonis: that was clear. it looked like a school project. ...share some secrets... who does payroll? ramona: i do. lemonis: who does the payables? ramona: i do. lemonis: who collects the receivables from the customers? ramona: i do. i was thinking, "please help me. i can't do this much longer." lemonis: ...and give you an honest assessment of my decisions. it looks like a wholesale line, not a consumer line. who thought it was a good idea to have 29 skus? ramona: my husband. lemonis: and how many do you have today? michael: 17. ladies and gentlemen, we thank you all for coming out for our launch party. lemonis: let's go have some fun. the event that you guys put on was the best launch event i have ever been to by 100 miles. taylore: aw! lemonis: my name is marcus lemonis, and this is an inside look at "the profit." who applied to the show? ramona: ashley.
10:03 pm
taylore: my sister, ashley. ramona: you know, ashley, she said, "mom, i'm going to sign you all up for 'the profit' so that marcus can teach y'all what you're doing wrong because it doesn't make any sense for you to have a company for over 20 years, and you're still working the long hours that you're working." lemonis: i'm gonna be honest. marcus doesn't really mind that much. i'm just gonna be honest. ♪ hello? sorry. woman: hi. how are you? lemonis: hi. how are you? ramona: oh, jesus. oh, my god. how are you doing? lemonis: i'm marcus. ramona: i'm ramona. lemonis: ramona, nice to meet you. ramona: yes. i almost had a heart attack. you were really here in the flesh. lemonis: i came to see you and taylore. then i had to have michael there as well. ramona: yes. lemonis: so is this whole complex you guys? taylore: yeah. we rent out office space, salon space, barbershops. lemonis: do you own those businesses?
10:04 pm
taylore: no. no, no, no. ramona: we own the building. lemonis: you own the building. ramona: yes. but my husband, i think he is... michael: don't talk about me without me being around. lemonis: how are you, sir? i'm marcus. michael: so nice to meet you. i'm michael woods. lemonis: michael, do you dress like this every day? ramona: every day. michael: every day. lemonis: you look like a million bucks. michael: thank you. lemonis: so tell me about ashtae. ramona: we are a multicultural hair-care company. we only sell directly to beauty salons. lemonis: okay, you're not in any retail. ramona: right. michael: we service salons door-to-door. lemonis: and you were literally knocking on doors. michael: what it does for an individual who is trying to grow a business, it helps them to understand how to overcome objections. lemonis: is rejection key to being successful in business, knowing how to handle it and actually having it happen to you? michael: absolutely. rejection is like a slap in the face, be like, "okay, you hit me there, but i'm coming back again." lemonis: and how did you deal with rejection every time you asked ramona out, and she said, "no"? how'd you deal with that? michael: i kept coming back. i wore her down, man. that's what you do. you wear them down.
10:05 pm
lemonis: is there a place where all the products are displayed or i could see it? michael: yeah. we can go see the products. lemonis: so how many different skus are there? ramona: 29. lemonis: okay. who thought it was a good idea to have 29 skus? ramona: my husband, probably. yeah. michael: the more, the merrier. lemonis: and how many do you have today? michael: 17. taylore: we go through a 6-month process of getting feedback, surveys before introducing it into market, so... lemonis: how was it before you put that process in place? ramona: if michael said we need "a," we would just get "a." taylore: there was no process. lemonis: let me just give you my opinion. michael: uh-huh. lemonis: it looks like a wholesale line, not a consumer line, right? you have to wow people with packaging. salon owners and consumers have tons of choices, and one of the most important things in making that choice is the package itself. this package couldn't be any more unappealing. can you give me a tour? michael: mm-hmm. lemonis: oh, my goodness.
10:06 pm
what is all this? we know that diversification is an important tool that we like to tell people in business, but i think you guys set the all-time high for what appeared to be intended diversification but looked like mass confusion with your building. michael: we're less diversified but more focused on our core competencies. that's what i'd say we changed. lemonis: right? you were running a church in your building. michael: the bail bonds company is still here. just in case you got to go to church, and you get out of jail, we can get you out. either side, we got you covered. lemonis: so that viewers understand, you and your wife own the building. michael: yes. lemonis: and ashtae is a tenant of that building, much like all the other businesses are. michael: right. lemonis: so what actually happens in this warehouse? walk me through it. michael: everything comes in in barrels, and then we'll fill the product. all the products are made in chicago. lemonis: so you have a copacker. michael: correct. lemonis: why doesn't your copacker actually give you
10:07 pm
finished goods in a bottle in a case? michael: because they're saying that our volumes aren't large enough. taylore: right. they got bought out. lemonis: so you have not been able to find a copacker that can give you a finished good in a case ready to go. taylore: we haven't looked. michael: we haven't looked. lemonis: why? michael: because, see, we own our formulas, so it's not that difficult to make the product. lemonis: is your vision to have a full-fledged factory here? michael: it is. lemonis: where are you producing the product? ramona: with the connection that you gave us. lemonis: nothing is in house, or some stuff is in house? taylore: no. ramona: no. ramona: nothing is in house. taylore: nothing is in house. lemonis: whose desk is this? ramona: this is my desk. lemonis: so is this where all the payables happen? ramona: yes. lemonis: walk me through what's actually happening here. ramona: this is what you call multitasking. lemonis: who does payroll? ramona: i do. lemonis: who does the payables? ramona: i do. lemonis: who collects the receivables from the customers? ramona: i do. lemonis: who sets up the trade shows? ramona: i do. lemonis: who's helping you? ramona: nobody. lemonis: okay.
10:08 pm
michael: honey, i'm sorry. sorry. we got a few clients that got some bulbs out on the other side. can you make sure that these right here get done? and these the receipts that need to be taken care of. lemonis: does this kind of stuff happen with him all the time? ramona: it happens every day. in that scene, i was thinking, "please help me. i can't do this much longer. my husband is a wonderful man, but he's not gonna change." i don't know how i did it to just keep it separate, knowing that every time he piled things on me, it wasn't personal. i remember one time that it did get really bad for me mentally. i sat down, and i literally did mike's list on the left, ramona's list on the right. michael: it was a book. i think it took me maybe 3 weeks to finish reading her list. lemonis: one of the tips that we want to give people is to understand the importance of separating homelife and work life.
10:09 pm
most small businesses in america are defined by a family-type atmosphere because you don't have the financial resources, and it requires people to have a very clear line between what's gonna happen at the dining-room table and what's gonna happen at the boardroom table and keeping them very separate, and you guys have done a nice job doing that. okay. let's keep going. what is all of this equipment? michael: that's all of the equipment that we have left over from the television station. lemonis: what television... i don't...i'm sorry. michael: yeah. lemonis: help me out here. taylore: basically, we tried to create a television station, and everything went south. lemonis: how much money did you spend on that venture? michael: about $200,000, maybe $250,000. taylore: what?! what?! ramona: michael. close to $1 million -- payroll, equipment, traveling. lemonis: taylore, can you and i just chat for a minute? taylore: yep. ramona: it was very scary, the whole process. lemonis: it was scary? you know what was scary? ramona: yes, at first. lemonis: that storage room that you had, that was scary. taylore: i told my parents that that station wasn't a good idea.
10:10 pm
i said multiple times. it's tough when you have this vision, and you have all these ideas, but you can't implement them, or you get this war in order to implement them. lemonis: i can see why you were frustrated by it. taylore: oh, absolutely. so we were supposed to meet and talk about, what are gonna be the terms and conditions of my role here? and the main condition is, they have to make me coo. lemonis: chief operating officer. taylore: yes. i have to have control over certain areas. lemonis: what was their response when you gave them that condition? taylore: we haven't met yet. lemonis: oh, you haven't? taylore: no. lemonis: alright. we'll talk in a little bit. taylore: okay. lemonis: why did you, that early on, know that you wanted to run the company? what is it that you knew qualified you to do it? taylore: i am uniquely gifted at making things more efficient, and i knew from the moment of joining the company full-time, this is not making sense. this is not adding up. there are so many different things we can do,
10:11 pm
and i believed in myself in being able to change that. lemonis: all these different ideas that michael has had, do you believe this business has been held back by those ideas? ramona: sure, absolutely. ♪ we put every penny we ever saved into all these ideas, and we, you know, my husband, i love this man to death, but there were some moments that i would just cry. lemonis: i'm amazed at how well you carry that pressure on your shoulders because there's a lot of crazy-ass ideas around here. ramona: yeah. ♪ lemonis: hey, guys. you have a business that does a million and a half a year and makes $200,000, which is a very high rate of return
10:12 pm
on not a lot of revenue. how much of an investment, michael, do you think the business needs? michael: i would probably say about $500,000. lemonis: okay. what is your number? ramona: $300,000. lemonis: what do you want to do with the money? michael: when i look at the business, i look at opportunity. i look down the road and say, "well, what can we do that can be cutting-edge?" lemonis: i don't agree with how much cash the business needs, so my offer is $200,000 for 25% of the business. michael: i think the number is just way too low, but if you said to me, "i'm gonna put $200,000 into the company, and that's gonna make it all better," well, what is better? lemonis: it's actually making the company entirely debt-free. michael: but what value does that increase in our sales? that doesn't necessarily increase in our sales. lemonis: yeah, but, michael, i'm asking you to justify what you're gonna do with the $500,000, and you're taking me to, "what's the $200,000 gonna do for my company?" michael: okay. lemonis: the value in me isn't just supposed to be in my checkbook.
10:13 pm
michael: and we're not asking for the checkbook. lemonis: you are asking for the checkbook because you're asking for more. michael: i'm saying... lemonis: if i am just a checkbook, i'm the wrong guy. taylore: these are a few things i need or i would like, let me say that. i would like to be chief operations officer. ramona: at that moment, i didn't think she was ready. taylore: ah! ramona: that's what i was thinking. michael: i felt the same way.
10:14 pm
lemonis: the value in me isn't ju it started with a few fifty dollars here. eighty dollars. a hundred dollars. i had good health insurance. why isn't this covered? well, then they started getting bigger. eight-hundred dollars. eighteen hundred dollars. i saved for this. but not that much. i'm glad i had aflac. they gave me money when i needed it most. that's why aflac is here, to help with the expenses health insurance doesn't cover. i love that aflac duck. aflac! get to know us at aflac.com there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us.
10:15 pm
i'm going to start the bidding at $5. thank you, sir. looking for $6. $6 over there! do i hear 7? $7 in the front! $7 going once. going twice. sold to the onion lover in the front row! next up is lot number 17, a spinach and artichoke dip, beautifully set in a hollowed-out loaf of sourdough bread. don't get mad get e*trade and get more than just trading investing. banking. guidance.
10:16 pm
10:17 pm
get e*trade and get more than just trading to be in my checkbook. michael: and we're not asking for the checkbook. lemonis: you are asking for the checkbook because you're asking for more. michael: i'm saying... lemonis: if i am just a checkbook, i'm the wrong guy. ramona: i wanted to just kick him because... lemonis: me too. ramona: ...i just... i didn't care about the money. i just wanted the mind. i wanted the relationship. michael: yeah. for me, it was both, marcus. i mean...i'm gonna be honest with you, man.
10:18 pm
we needed the money. lemonis: if you need more than $200,000, just tell me why because pay off your debt, and you put the rest of it in the bank. what else do you need the money for? ramona: the reason i would like to see three versus two is, i've been tight for so long. lemonis: mm-hmm. you just need more cushion. ramona: i just don't want the tightness. lemonis: okay. if i give you this check for $300,000 for 25%, i want to have permission from you to find extra cash wherever i can. michael: okay. lemonis: great. i told you that i wanted to find extra cash. what were you thinking? michael: where is it gonna come from? because i don't see that $100,000 you're talking about. lemonis: do we have a deal? ♪ michael: we have a deal. lemonis: we have a deal? ramona: yeah. yes.
10:19 pm
you gave it to the right person. lemonis: i know i did. let me ask you, michael. both of us have a lot of pride, and at least initially, i felt like you were more concerned about how you looked and how you sounded and what people thought. michael: first of all, you have to put on the superman cape. that's part of being a leader in your business. however, clark kent appears, and we don't, as clark kent, want to share that side of ourselves with anyone, and then when guys like you come along, and you shared with us, you know, "hey, michael, you can't be strong all the time," it makes you feel like, "wow, i could be the superman and the clark kent all in the same day, and it's okay." lemonis: i'm excited! michael: hey. lemonis: you're about to get sold. so walk me through your strategy of, you know, making these individual sales calls all the time. michael: well, it's not necessarily
10:20 pm
i'm making sales calls. we're serving people. we're serving people our gift. lemonis: we're just in this neighborhood, really, and so i would think that a market like atlanta would be a huge target for you. michael: the next big event that we do is there. it's called the bronner brothers show. that's the largest african-american trade show in the industry. good morning. good morning. how are you? toya: good morning. michael: how are you? what's going on, ms. lady? good to see you. what's up? toya: good to see you, too. lemonis: how are you? toya: i'm really good. lemonis: i'm marcus. toya: how you doing? nice to meet you. lemonis: do you own the shop? toya: i do. lemonis: and do you also sell the product to your customers? toya: absolutely. we had somebody waiting just now. lemonis: where are the products that you would sell? toya: we're sold out. we got a display. lemonis: that's normally where the display goes. toya: yes. lemonis: you literally have nothing. toya: we were really waiting on y'all yesterday. lemonis: there's literally, literally nothing here. what michael should be doing every time he goes into a salon is understanding the sales history of his products in the previous week or month. he would then take that data and then give the salon a recommended stocking amount,
10:21 pm
so if they sold four bottles a week, and he only comes there every 2 weeks, they should have eight bottles on the shelf. sell-through will leading to stocking. stocking will lead to the appropriate amount, and it'll generate sales. michael: so now y'all can sell. now y'all can make some money now. this won't happen again. toya: never. michael: i'm gonna make sure of that. lemonis: i love the enthusiasm. let's put a little science with the love. michael: toya. toya: yes, sir? michael: let me see you for one second. one of the things that we do always talk about is that we always want you to make this look fresh, and what i'm gonna do is, i'm gonna get this upholstered. so i think you have a little screwdriver. lemonis: we're taking a chair with us now? michael: yeah. i'm gonna put it in the car. toya: a wrench. michael: have pliers? toya: pliers, we got pliers somewhere? lemonis: this seems to be a trend with michael where instead of focusing on product sales, he wants to repair their chair. people said to me, "oh, you made michael pick up that chair. that was nonsense." it was just a day in the life with michael woods.
10:22 pm
there's a deleted scene. we picked up a chair, and what else did we pick up? michael: i think i picked up two chairs? lemonis: what else? michael: bojangles'! that's what we had, some chicken. lemonis: so i'm gonna show you this deleted scene that nobody's ever seen before right now. i just have to tell you this, we are not driving past bojangles'. just go through the drive-through. this is, like, maybe the highlight of my week here. michael: this was one of my first jobs, actually. lemonis: you worked at bojangles' as your first job? michael: i worked at bojangles' in college. yep. lemonis: you were probably working there while i was 6 and driving on my bike, my big, fat ass on my bike, and i used to come over. my mom said, "where were you?" i said, "at the park." she said, "the park by bojangles'?" michael: and now you got a ice cream with that too, right? lemonis: bojangles'. michael: thank you. lemonis: best day i ever had. michael: thank you. marcus, guess what i got! [ laughter ] hey. i'm just gonna put this in the back.
10:23 pm
ramona: [ laughs ] honey, you are stretching your focus too much. was that not our argument? michael: this is my last chair. this is my last... ramona: but, honey, you told me that... michael: okay, but this is my last... ramona: i can't believe you did this in front of marcus. michael: this is my last chair. lemonis: do you believe him? ramona: nope. lemonis: and everything is falling on you. ramona: yes. where are your sales? michael: yeah, i didn't write a receipt for them. lemonis: you did spend more time fussing with this than you did talking about a way to get the inventory moving and get it on the shelf and never be out. michael: my friend marcus threw me under the bus. [ laughter ] lemonis: i'm out of here. you're on your own, buddy. michael: see? that's what i'm telling you. lemonis: you are on your own. taylore had expressed to me some concerns about her role in the company, and before we started digging in and rebranding and relaunching things, i wanted to get those issues behind us. taylore mentioned to me that, as a family,
10:24 pm
you were contemplating getting together. taylore has to determine if what is being offered to her from the company... taylore: oh, god. lemonis: ...is gonna satisfy her as well. taylore: can we not? okay, so these are a few things i need or i would like, let me say that. you guys say you want me to take ownership. well... i would like to be chief operations officer. michael: the role that you're asking for, there's a lot of responsibility that comes with that. lemonis: is it a yes or a no? ramona: you're pressing us to say yes or no, and at that moment, i didn't think she was ready. taylore: ah! ramona: that's what i was thinking. michael: i felt the same way. michael: you can't throw these away! woman: i'm not...i didn't put it on the "to throw away." i put this on "to give away." you can't sell it. michael: you can! when you're in love with something, you don't want to let it go,
10:25 pm
and i think that's where i was at that particular time. lemonis: that's your answer? michael: that's my answer. taylore: i would like to be chief operations officer. hey allergy muddlers... achoo! ...do your sneezes turn heads? ♪ try zyrtec... ...zyrtec starts working hard at hour one... and works twice as hard when you take it again the next day. zyrtec muddle no more.
10:26 pm
and try children's zyrtec for consistently powerful relief of your kid's allergies. that's why working together ist more important than ever. at&t is committed to keeping you connected. so you can keep your patients cared for. your customers served. your students inspired. and your employees closer than ever. our network is resilient. our people are strong. our job is to keep your business connected .
10:27 pm
it's what we've always done. it's what we'll always do. we're finally back out in our yard, but so are they. scotts turf builder triple action. it kills weeds, prevents crabgrass and feeds so grass can thrive, guaranteed. our backyard is back. this is a scotts yard. we're committed to serving, our communities by doing what we do best. serving you and making one great steak. that's why we have curbside takeaway and delivery on outback.com because at outback steakhouse, we're here to serve you. uh, "fifteen minutes could save you 15%ain? or more on car insurance." i think we're gonna swap over to "over seventy-five years of savings and service." what, we're just gonna swap over? yep. pump the breaks on this, swap it over to that. pump the breaks, and, uh, swap over? that's right. instead of all this that i've already-? yeah.
10:28 pm
what are we gonna do with these? keep it at your desk, and save it for next time. geico. over 75 years of savings and service. michael: the role that you're asking for, there's a lot of responsibility that comes with that. lemonis: is it a yes or a no? ♪
10:29 pm
taylore: oh. i'm concerned, and i think you guys work too hard to the point that it's unhealthy, and, mom, the thing is, you know it's unhealthy. ramona: once i get 100% from both of you, right, then my quality of living will change because i'll be able to let go of so much. lemonis: ramona, that's really how you were feeling. ramona: oh, absolutely. lemonis: maybe the best thing for taylore is that she would be the director of seminars and trade shows. michael: i'm definitely comfortable with that. lemonis: okay. you say you want to have a big role. your new challenge is for you to execute bronner and have a successful show. taylore: now hindsight is 20/20, and i think the role that you put me in was very, very much needed for me to get to where i am now. lemonis: michael, did you understand why that was important? michael: i think i do, marcus, and i think that was part of the being able to entrust her decision-making ability and to get her feet wet,
10:30 pm
to make mistakes but learn from those mistakes or have a huge success in the process. lemonis: today, michael and i are in new york meeting with rejuvenol, a top manufacturer for hair-care products and cosmetics. woman: this is where we make the raw material. i'm gonna show you the big tank. michael: oh, yeah, huge. woman: this is our cooling tank. they cool the jars of pomades. lemonis: so you're producing at rejuvenol? ramona: yes. lemonis: one tip that we want to give people, and i appreciate you guys sticking with the plan, is that a lot of companies believe that the best thing to do is to produce it in-house. they feel like it's gonna be more lucrative to them, but when you take a look at the space, the equipment, the raw materials, the labor associated with it, and you add all that into the raw materials of the packaging and the filling and the ingredients, it's just not the right thing to do, and so the fact that you guys are using it, and do you feel like your margins got better when you went with the copacker? michael: it makes a tremendous difference
10:31 pm
when the product comes in already ready to sell. that's time and money. man: this is an adventurous brand. lemonis: the key to marketing and growing your business is to have attractive packaging and attractive branding. we don't have that today. man: other words that come to mind? taylore: he thinks big. ramona: we push the stylists to think big. man: i think we have everything we need, and we'll show you some ideas. michael: thanks a million. ramona: thank you so much. michael: i think, marcus, you hit the nail on the head with this one because i was really stuck on that black and red for quite a while. lemonis: we're getting ready to go, team, go. i see a lot of wasted space in this building. there's two post-its here. y'all are gonna share these. i'm gonna participate. if you mark it green, it means it's going to be sold to collect cash. if you mark it red, that means it's going in the... taylore: trash. lemonis: ...trash. michael, have you always been a pack rat? michael: we keep everything. everything is good. lemonis: is that why every time i pulled back a curtain, there was something there for a surprise? michael: new discoveries.
10:32 pm
woman: oh, my god. ramona: jesus, don't go in here. ooh! taylore: it's a fumigator mask. woman: mr. woods, what is this? michael: that's cash. lemonis: no, no, no. don't ask him. don't ask him. don't ask. ramona: everything was cash to you. michael: i can't find much to put a red sticker on. that is a piece of furniture. lemonis: no, no, don't... michael: all the stuff you have red on, taylore, those items are still lifes that are good. ramona: you can't take all the red off, michael. michael: no, but, look, these are... you can't throw these away! taylore: i'm not...i didn't put it on the "to throw away." i put this on "to give away." you can't sell it. michael: you can! ramona: michael! michael: that's a good speaker system. ramona: honey! taylore: that speaker was not sellable at all. michael: here, honey. taylore: you can't take my red off! lemonis: help me understand, michael. i'm sorry. i must have missed something. michael: i think at that particular point, marcus, that's where i go back to, when you're in love with something,
10:33 pm
you don't want to let it go, and i think that's where i was at that particular time. lemonis: that's your answer? michael: that's my answer. taylore: it's a good thing that we've cleared all that out. lemonis: yeah. you did. your mom did, and i did. your dad did not help. hey! how's it going? when he greets you like it's christmas, he's hiding something, or he's nervous about something. ramona: oh! lemonis: i don't like how dark it is. look, i know you're capable of more, but the booth looks terrible. if you're looking to take your business to the next level, log on to...
10:34 pm
that liberty mutual customizes your insurance, i just love hitting the open road and telling people ♪ so you only pay for what you need! [squawks] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ we're committed to serving, our communities by doing what we do best. serving you and making one great steak. that's why we have curbside takeaway and delivery on outback.com because at outback steakhouse, we're here to serve you. we're finally back out in our yard, but so are they. scotts turf builder triple action. it kills weeds, prevents crabgrass and feeds so grass can thrive, guaranteed. our backyard is back. this is a scotts yard. ibut you're not alone. apart for a bit, we're automatically refunding our customers a portion of their personal auto premiums.
10:35 pm
learn more at libertymutual.com/covid-19. [ piano playing ] and sometimes, you can find yourself heading in a new direction. but when you're with fidelity, a partner who makes sure every step is clear, there's nothing to stop you from moving forward. athat liberty mutualsure customizes your insurance,, i just love hitting the open road and telling people so you only pay for what you need!
10:36 pm
[squawks] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
10:37 pm
the best entertainment experience.s xfinity x1. lemonis: we were able to raise around $23,000 by clearing out the entire building. meanwhile, we have 3 weeks until the bronner brothers convention, so we're headed to chicago to vsa to finalize the branding. woman: drumroll, please. taylore: ah! oh, my god! i love the logo. i love the all-black. michael: i guess the only thing that sticks out to me is the black bottles. woman: sure. lemonis: so look at the vessel in white. taylore: it is more playful. lemonis: in this case, we're going to have to stratify the packaging options for our two groups of consumers. we're gonna use white for the salon owners, and we're gonna use dark graphite for their customers. taylore: our logo! michael: professional.
10:38 pm
ramona: yep, and the retail, and it's just so beautiful. i'm just so grateful for this. lemonis: that was a much tougher process than anybody knows. michael: we finally had to let go of our black, white and red, power to the people. we birthed that, so it was hard giving up that baby that we've been looking at for 20 years. taylore: i think it was just you. you were not on board. lemonis: michael, we sat there for almost 2 hours. michael: yeah. it was tough for me. lemonis: the scene was 20 seconds. you killed us for 120 minutes. now that we've all agreed on the design, we can move forward on production, getting ready for bronner brothers. woman: so this is the screen for the 4-ounce. michael: okay. cool. woman: this is the screen for the 8-ounce. lemonis: look how cool that is. michael: that's a big step, yeah. lemonis: meanwhile, back in greensboro... taylore: hey, quick question. can we talk about bronner brothers for a quick second? lemonis: ...taylore is hard at working designing the booth for the event. this is her first real test
10:39 pm
as the director of seminars and trade shows, and my expectations are very high. ♪ michael: yes, michael woods speaking. lemonis: hi, michael, marcus. michael: hey, marcus. lemonis: we're a week away from bronner brothers, and i've gotten an e-mail that is quite concerning, so i wanted to give michael a call and find out what the heck is going on. the e-mail that i'm reading says that you specifically are making changes to the package that is slowing the process down. michael: but we have to have the back of the container correct. lemonis: but, michael, i cannot believe that this product is not ready yet. i cannot believe it. it's got to be ready by sunday! ramona: yeah, see, i didn't know you guys had this conversation. michael: guilty. lemonis: this is a good example of him not being focused on one task. this is a big deal. it's a big deal for you. it's a big deal for me. you're confident that this stuff will be done for the event? michael: i'm very confident it'll be done for the event. lemonis: okay, buddy. i'm looking forward to seeing it. i'm excited. michael: yeah. lemonis: see you there. michael: alright. thanks. ♪
10:40 pm
♪ lemonis: i've just arrived at the bronner brothers convention and the energy and the excitement and the number of people... i've been to hundreds of conventions in my business career. [ indistinct conversations ] but i've never seen anything like this. ♪ michael: hey! how's it going? lemonis: okay, so let me tell you a little something that i know about michael after spending weeks with him -- when he greets you like it's christmas, and he's laughing, and he's excited, that's a sign of he's hiding something, or he's nervous about something. michael: how's it going today? lemonis: how you doing? michael: you just getting in? lemonis: yeah. i just got in.
10:41 pm
so the old products are still out. michael: the old products are still out, yep, so... lemonis: so none of the new stuff came. michael: none of the new stuff came. ramona: you have always been in love with the black for retail and the white for professional. that has... lemonis: well, your husband did not, and he probably thought to himself, "i'll agree. i'll just make sure that rejuvenol doesn't print them." taylore: oh, my god. michael: i know. i know. i know. lemonis: if the product is going to be missing, then the rest of the booth better be on point. what the [bleep] honestly, we look average. the stage is too small. the banner across the back is crooked. there's really no flow for people to get around. the energy of the booth does not come even close to being what anybody at the front of the show looked like. taylore.
10:42 pm
taylore: hi. lemonis: hi. how do you think the booth looks? taylore: better than it did last year. lemonis: because if it looked better than it did last year, i don't even want to see pictures from last year. taylore: you don't. that was an upgrade. lemonis: i don't like how dark it is. where's all the personality? taylore: right. lemonis: where's your personality? it's all so serious. if you look at the banner, it looks... taylore: yeah. lemonis: look, i know you're capable of more, but the booth looks terrible. i remember when we walked back there, i literally was stunned. taylore: i remember for that show, shay and i literally drove down to atlanta. you guys don't remember that? we physically put together those shelves ourselves. lemonis: and by the way, taylore, i love you, but that was clear that y'all did it. it looked like a school project. [ laughter ] michael: here we go! here we go! here we go! everybody said, "you got marcus to dance?"
10:43 pm
i said, "i really wouldn't call it dancing," but, you know, there was some similarities there. lemonis: for exclusives, extras and business advice, visit... it started with a feww yfifty dollars here.re, eighty dollars. a hundred dollars. i had good health insurance. why isn't this covered? well, then they started getting bigger. eight-hundred dollars. eighteen hundred dollars. i saved for this.
10:44 pm
but not that much. i'm glad i had aflac. they gave me money when i needed it most. that's why aflac is here, to help with the expenses health insurance doesn't cover. i love that aflac duck. aflac! get to know us at aflac.com we're committed to serving, our communities by doing what we do best. serving you and making one great steak. that's why we have curbside takeaway and delivery on outback.com because at outback steakhouse, we're here to serve you. we're finally back out in our yard, but so are they. scotts turf builder triple action. it kills weeds, prevents crabgrass and feeds so grass can thrive, guaranteed. our backyard is back. this is a scotts yard. there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network.
10:45 pm
to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us. i'm going to start the bidding at $5. thank you, sir. looking for $6. $6 over there! do i hear 7? $7 in the front! $7 going once. going twice. sold to the onion lover in the front row! next up is lot number 17, a spinach and artichoke dip, beautifully set in a hollowed-out loaf of sourdough bread. don't get mad get e*trade and get more than just trading investing. banking. guidance. get e*trade and get more than just trading this is kind of a first... for all of us. ♪ ♪ but maybe this is a time to put other things... first. ♪ ♪ like being the first to check in. ♪ ♪ or the first to try you hand at the culinary arts.
10:46 pm
or all the arts. be the first to volunteer. or the first to say it's all going to be okay. and when the day comes, when we're no longer looking at our worlds from the inside out. it will be what we did in here that will make us stronger out there. but the booth looks terrible. in my mind, i genuinely wasn't upset with taylore. i felt like you guys went back to your old tricks and took taylore's authority away from her. i'm not saying that's what happened, but that's what went through my head. michael: no, no, not at all, not at all. lemonis: taylore? taylore: no, no. i think it was a blend of, one, the time span, you know, just, that we had, two, yeah, going back to the old ways. lemonis: the key for this task for me was seeing if she could actually solve these problems on her own. the most important thing is what she's going to do with that criticism
10:47 pm
and how she's gonna turn that into a positive, but aside from all my issues with the booth, we're here to sell. michael: 36, you can get six others then. you wanted to take the shampoo? you want the four colors for $60? you got your moisture plus. you get your scalp solution. that makes a gallon. you get your curl wax, 25. woman: thank you. michael: that was sold. thank you, dear. thank you. thank you. lemonis: it's impressive for me to watch michael do his thing. michael: let me see. can you hold that? can you hold that? can you hold it, and it still doesn't mess up? lemonis: we need to get him on the home shopping network. ramona: exactly. woman: so we went in with our moisture plus leave-in conditioner... michael: shake it! lemonis: the guy's perpetual motion and his energy level and his enthusiasm for what he's doing is infectious. michael: give me some walking-out music. give me some walking-out music, ladies and gentlemen. lemonis: i knew that when i made this investment, i was investing in him and his ability to pitch product. michael: here we go! here we go! here we go! lemonis: and i had not really seen him in action like this,
10:48 pm
but i would say the guy is awesome at it. ♪ michael: i laugh at that every single time, and everybody said, "you got marcus to dance?" i say, "i really wouldn't call it dancing, but, you know, there was some similarities there." lemonis: let's see some moves from you. michael: what? you don't want my... you don't want my moves. you don't want... you don't want my moves, marcus? lemonis: because i'm not sure we look very different right there. i think that's how i was dancing. taylore: marcus, we've got a viral video that proves otherwise. people say he was getting it in that video! ramona: viral video got almost 2 million views! michael: 2 million views, marcus! lemonis: of what? taylore: of him dancing! lemonis: i want to go to another scene here. ♪
10:49 pm
i want you to be thinking about a product launch where we can actually invite stylists from around the community, and we literally do a red carpet product launch. i'm gonna put you in charge of it. taylore: okay. lemonis: you're gonna have a $10,000 budget. let's see how to create a grassroots effort to get the product out there. michael: okay. lemonis: okay? the team has one week to prepare for the product launch party that will take place in charlotte, north carolina, and with the newly completed offices, everyone should be able to focus, finally. we spent over $25,000. taylore: oh! i did a good job on that space! lemonis: what did we actually spend? because i think that total was more than $25,000. taylore: the budget was $30,000, and i was right on budget. lemonis: it does look nice, too. taylore: oh, yeah. lemonis: is that where y'all are sitting right now? ramona: yes. michael: yep!
10:50 pm
lemonis: i just want to make sure that everything for tonight is set. tonight is the big product launch, and i couldn't be more excited, but there's clearly a lot that still has to get done. so are there salon owners coming? taylore: yes. michael: there are salon owners. lemonis: and professionals? people in the industry? michael: yep. ramona: yes. lemonis: where's the product? michael: already there. lemonis: okay. let's get back to work. michael: alright. taylore: okay. let's load up. woman: hey, michael. michael: hey. what's up, girl? woman: i've got an issue going on in the salon. i need you to help me. michael: right now? woman: yes. michael: i've been loading up for the event for tonight. woman: no, i need you to come to the salon. lemonis: i walk outside, and i see michael talking to the salon owner about a problem, and i think to myself, "okay, i've seen this movie before," and i can tell that he wants to go and help. michael: we have a client. one of my tenants has some dryer issues. lemonis: in this brief moment, i'm thinking to myself, if he tries to solve this problem, him and i are gonna have our own problem. yeah! we're gonna have our own problem!
10:51 pm
but you know i asked her to do that, right? michael: i didn't know that. ramona: i didn't know that. lemonis: yeah, because the only way you're gonna see if people change their stripes is to put them out there and see what happens, and so i went and talked to her, and i said, "listen, i've lost a little bit of confidence in michael's ability to stay focused," and she said, "what do you need me to do?" and i told her, and she said, "oh, i don't want to do that," and when she did it, you were actually thinking, like, "oh, maybe i should help her." you felt bad for her. michael: right. lemonis: you've really impressed me because the event looks amazing, and i really feel like you've come a long way. taylore: thank you. i appreciate that. lemonis: i think taylore provides the kind of leadership and insight to do probably more than the three of us could have ever done with this business. michael: one of my tenants has some dryer issues. [anthony] hey mama, what's up? [mama] i'm confused. confused about what, everything ok? yeah, i only see one price on my phone bill. that doesn't sound confusing mama.
10:52 pm
you're on t-mobile, taxes and fees are included. oh come on, there's always extra fees! not on t-mobile mama. why can't all my bills be like this? i don't know mama. bye mama, love you. anthony? umph! at t-mobile, taxes and fees are included. and right now, when you switch your family, get 4 lines of unlimited for just $35 a line. it means being there for each other. that's why state farm is announcing the good neighbor relief program we know our customers are driving less, which means fewer accidents. so state farm is returning $2 billion dollars to auto policyholders for the period ending may 31st. and we'll continue making real time decisions to best serve you - our customers. because now, more than ever, being a good neighbor means everything. like a good neighbor, state farm is there. we're committed to serving, our communities being a good neighbor means everything. by doing what we do best. serving you and making one great steak.
10:53 pm
that's why we have curbside takeaway and delivery on outback.com because at outback steakhouse, we're here to serve you. and sometimes, you can find yourself heading in a new direction. but when you're with fidelity, a partner who makes sure every step is clear, there's nothing to stop you from moving forward.
10:54 pm
10:55 pm
a partner who makes sure every step is clear, woman: mm-hmm, and i need michael to come fix my dryer. lemonis: i'm worried to see how michael is gonna handle this. michael: give me 2 minutes. lemonis: if he actually bites, i may lose confidence in him. woman: you can't come look at it? michael: let me send dennis over there. i got to finish up here, but dennis would definitely take care of you. woman: alright. michael: alright. lemonis: the fact that he was able to solve the problem and delegate it seems like a small thing to most people, but it was a really big thing for michael. ramona: that was huge for him. that was huge. michael: i can't deal with the smaller things. i can't deal with the things that really are time-consuming but not profitable for the company. lemonis: i'd like to know where michael woods went. michael: [ laughs ]
10:56 pm
lemonis: you only said that because i was standing there, for sure. michael: i changed. ♪ lemonis: tonight is a big night for ashtae because it's a chance for them not only to launch their new brand and their new look but talk to salon owners from throughout the east coast. now, i just want to tell you that in all the years that i've been doing this, the event that you guys put on in charlotte was the best launch event i have ever been to... taylore: aw! lemonis: ...by 100 miles. [ indistinct conversations, music playing ] ramona: that was a great night. taylore: it was... lemonis: it was so fun. taylore: ...such a great event. ramona: that was a great night. lemonis: how are you? michael: hey, looking sweet. you looking sweet. lemonis: how are you? woman: you like it? lemonis: i love it. woman: good. lemonis: where's the product? i was like, "that product better be here." michael: let's go. lemonis: let's see. i'm excited.
10:57 pm
michael: alright. alright. ♪ lemonis: honestly, it looks... ramona: amazing. lemonis: ...amazing. it looks amazing. let's go have some fun. michael: that's it. ladies and gentlemen, we thank you all for coming out for our launch party, and we're about to set it off here in charlotte, north carolina. lemonis: oh, my gosh. look at that hair. these are the types of styles that you can create using ashtae products. wow. quality styles, quality products, well, we know what that means -- quality earnings. you really impressed me because the event looks amazing. it just feels really classy, and i really feel like you've come a long way. taylore: thank you! i appreciate that. lemonis: one of the benefits of taylore having some success is that she'll gain confidence in herself, and ramona will gain confidence in assigning more things to her that make her even more valuable to the business.
10:58 pm
ramona, this organization, you are the heartbeat of it. ramona, i mean, i said it to you then, and i say it again today. you really are the leader, and i learned a lot about unconditional love in a relationship because you're married to the nutjob next to you, and i also learned about unconditional work ethic, and you always put the business in front of your own self. i want to compliment you. i tell you that i'm very proud of how you got focused. i'll see you guys soon. what's happened to the revenue over the last 3 1/2 years? taylore: within the past 3, 3 1/2 years, we've definitely seen about, i would say, about 20% increase in sales each year steadily. lemonis: great. ramona, walk us through what the organizational structure is today. ramona: taylore has taken the role of c.e.o., and i am now her best employee! michael: he honestly stepped down. he's doing real estate full-time,
10:59 pm
and it is much easier. we can definitely agree to that. lemonis: when i met you on day one, ramona was buried in paperwork. you were out fixing plumbing, and as you fast-forward to the end, you almost rebirthed the entire company start to finish. michael: mm-hmm. ramona: we did. michael: it forced us to make a change that we needed to make. lemonis: i hope you're as proud as i am that taylore has taken the business to another level. you know, we all know that second-generation businesses struggle sometimes to succeed. i think taylore provides leadership and insight to do probably more than the three of us could have ever done with this business, and so that, to me, is what makes your family so special and your products so special. ramona: mike is definitely people. i am product, and taylore is absolutely process. lemonis: taylore, how old are you now? taylore: 27. lemonis: 27, and you're the c.e.o. of a multimillion-dollar company.
11:00 pm
ramona: she's single! lemonis: are you accepting applications, taylore? taylore: why don't we come up with the hashtag #tayfindsbae? lemonis: i love you guys very much. michael: hey, marcus. lemonis: yes, sir? michael: you want me to warm that chicken up? [ laughs ] ♪ miranda: the lip gloss tis a healing lip gloss... woman: it's so smooth. lemonis: ...a cosmetic company that uses a special ingredient. miranda: this is my original formula, and it's got medical-grade lanolin. lemonis: it's a big idea with huge potential. miranda: and the company's grown from on my stove to a little over $3 million this year. lemonis: i'm impressed. but the owners won't stop developing new products. what is this? miranda: those are light-up tweezers. lemonis: products that no one wants. layne: these right here are all the bottles i can't sell. -lemonis: all the way back here? -layne: yes, sir. lemonis: and their branding is completely chaotic. -interesting? -katia: mnh-mnh. -lemonis: interesting? -katia: no, that's weird. it just feels all over the place. lemonis: if i can't get them to follow my plan... i don't feel like you're trusting me. ...and develop a whole new look...

89 Views

info Stream Only

Uploaded by TV Archive on