tv The Profit CNBC August 8, 2021 3:00am-3:11am EDT
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we sell the bees and we sell the equipment. >> because there aren't enough bees in the environment? >> no. >> so who owns the business? >> i do with my mom. so we're 50/50. >> so does your mom also work here. >> would you like to meet her? >> i would love to meet her! this is our beginning. we pivoted in 2013 and began selling cross pollination. >> who runs the business >> you are the ceo >> yes. >> and you took that from your mom or your mom gave that to you or how does that work? >> i'm sorry i heard somebody say something. >> she's bossy. >> who is that is that the voice of todd? you can come out. >> how are you
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i'm marcus. >> i'm ronda nice to meet you. >> so she's the boss you are not the boss >> i have more retail experience ronda does the finances. >> you call her ronda. >> they have a lot of energy and a lot of enthusiasm. i want to make sure all of this excitement they have is translating into the excitement around theactual business. how are you, sir >> good. very good. >> and what is your role here? >> good question is this your husband >> he does all the legal stuff. >> how long have you been married? >> not long enough. >> good answer >> 45 years. >> 45? should we take a tour? >> love to. >> you're the leader. >> yes, okay >> we bring our retailers in here when we're setting them up. the number one selling item is
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this this is the kit. >> so it is everything you see here. >> where are they manufactured today? >> in the back. >> so nothing is manufactured overseas. >> our iron tools and clothing come from overseas. >> what are the margins? >> we're about 50% last year. >> and how much revenue does this generate a year >> i'd say seven, eight hundred thousand dollars. >> what prevents it from being a $2 million scheme? >> capacity. >> capacity. what is this thing doing >> this is underneath that plastic there is a comb that gets built on that >> just scrape it off and eat it. >> your starter kit is your flour. trying to lure the customer into the lifestyle and thinking how easy it is to become addicted to it and then they buy all the other stuff. how much of your business is
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online >> 10% of our staff. >> that sucks. we've got to fix that. $2.5 million of revenue, about $1 million of gross. >> yeah. >> and your interest and finance charges are half a million charges? >> it's very expensive. >> the net income loss after interest expense of $500,000 is just over a million dollars in 2019. >> yeah. >> and 2020 came and everybody wanted bees. sales go from $2 million to $4.6 million. total operating profits in 2020 is a loss of $150,000? >> yes. >> $4.6 million, losing 160,000 d >> yeah. we need to increase our margins. >> what would it be if you sold online >> 5% margin
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but we need that as well. >> do you? >> yeah, for right now. >> if you are losing money doing it, why do it. >> it is just running a charity at that point. >> yeah. let's jump to the balance sheet. >> okay. >> the total assets just over $1 million, let's go through. current liabilities is at 563. how much is that >> probably closer to four. >> is that separate from money you have put in? >> no. >> close tore eight. >> $800,000? >> yes. >> okay. accounts payable of 1.7. long term liabilities. >> our senior lender >> 3.7.
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>> so the total liabilities are $8,174,000 the total assets are $1 million. so we have a short fall of $7.2 million. all the things that we talked about today, it almost seems inconsequential. the business is defaulting "the profit" is back. >> maybe i'm not the right person to run this. >> i know you have it in you. >> this isn't about money. this is about people's lives. >> i'm excited >> now season tuesday. cnbc now a sneak peek at "money court". >> kevin here. everyone knows i love making money. you're talking to mr. wonderful here i know money, money, money and money, but there is nothing more i hate than fighting over it.
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>> i want my money back. >> this is money court, where entrepreneur and investor rules on real financial disputes. >> we could sell right now for $1.1 million. >> no. >> $50,000. >> 150. >> half a million dollars. >> $2 million. >> and because all litigants have signed a contract agreeing to abide by the verdict, this court's decision is binding. >> i'm your best friend right now. >> advising kevin are two legal strategists. >> are you kidding me? you didn't learn about the default? >> and former judge. >> i spent five years on the bench hearing stories just like yours. >> with their help, kevin will hear both sides of the case. >> this is nuts. >> exam all the evidence and deliver true financial justice. >> she's getting zero. >> you're wrong. >> give her some scratch, kevin. >> welcome to "money court."
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i want to sell a dream home and take the profit. >> okay. i don't want to do this again. >> this is a classic case of a marital dispute around money >> wait, wait, wait. gary, so you already did this once you sold the house to fund your business. >> yeah. >> you want to bet the whole family >> kevin, i'm a sure bet. >> there is no such thing as a sure bet. >> husbands and wives, tenants and landlords. what a waste of money. >> the drama is real the money is real. you are living the dream, my friend don't make it a nightmare. >> when you add lots of zeros to the fight, it becomes more contentious. >> bring your dispute to "money court. who wins
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who loses? i decide starts wednesday 10:00 eastern cnbc. >> get yours we're well beyond qualified for that. >> i cannot spend time here in an unprofitable business, knowing that i will never get paid. >> but you expect us to do it. >> all right? that is your choice. >> you're full of crap. all you do is talk. >> stop, stop. >> can't make money in this-- >> okay, well, then let's part our ways. i don't have a lot of business experience, but i've owned more businesses than you, and i can tell you, if the partners don't get along, it's not going anywhere. we have to be able to work together. >> i have lost faith. we need to change dramatically the business. >> how do we buy you out? what do you want? >> what i want is--i believe in the product, and i believe in the people. >> tell me a number, dane. >> so i don't want to sell. i do not want to sell. >> we don't want to work with you. >> why can't you sell? why can't you sell? >> see, and this is why i can't think, when you're in my face. >> i'm not in your face. do you want me to get in your face? 'cause that's your face. >> that's so unnecessary. that's not necessary. >> it's your choice. >> i'm done. >> this is just crazy talk that we can't be reasonable. >> i'm trying to participate. >> you know this is our life's
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