laura: we're ready to bake. james: yeah. ♪♪ ♪♪ lemonis: tonight on "the profit," ♪♪ i meet a spicy former lawyer... ana: i got called to do "real housewives of miami." don't hold that against me. lemonis: ...with dreams of a marinade empire. ana: it's not only a marinade. it's a flavor-enhancer so you can use it on everything. lemonis: despite having a product people love... woman: mmm, it's finger-licking good. lemonis: it actually is pretty good. ...her business has been struggling to grow. ana: [ voice breaking ] it's hard for me that this isn't further along given that i've given up so much for it. lemonis: to grow this company, she's going to need to change her branding... john: you have an illustration that is almost exactly like skinnygirl. lemonis: ...learn how to take some criticism... kathleen: what did you write? aaron: skanky. her, she takes over the whole image. ana: do you really, like --

what else do you want me to put on the label, you know? lemonis: ...and most of all, learn her numbers. ana: listen, guys. i can't give you exact numbers. lemonis: i'm not going to write a check for somebody that doesn't have their [bleep] together. i won't do it. i'm marcus lemonis, and i risk my own money to help businesses. i love investing in american businesses. woman: these people are here because they care. lemonis: it's not always easy, but i do it to create jobs, and i do it to make money. do we have a deal? let's rock and roll. man: yeah! lemonis: this is "the profit." ♪♪ i was contacted by a miami-based former lawyer named ana quincoces. she has a marinade and sauce company called skinny latina. ana started the business 6 years ago, but so far, she hasn't been able to make the brand bigger than a regional product. the sauce and marinade industry is a gigantic opportunity,

but i have two primary questions. number one -- what makes this sauce stand out in a crowd? and number two -- is this a real business, or is this just a side-hustle? woman: everything else was on top of it, right? for the barbecue. lemonis: hi, everybody. ana: of course i would meet you with this on. lemonis: that's all right. how are you? i'm marcus. nice to meet you. all right, so, i want to go through the process of how it's made. i would love to understand it. can you take me around? ana: yeah, sure. lemonis: got to love hair nets. i actually was going to rock this tonight at the club. ♪♪ woman: so, we're constantly cooking it and then pumping it into this kettle. we label it, we seal it, coat it, fill it. lemonis: okay. i did like the fact that it was a small-batch manufacturer. it's almost like craft brewing. sometimes, the smaller it is, maybe even the better it is. and is there only one recipe? ana: no, i have four skus. this is the flagship recipe, the million dollar marinade. then i have a guava-fig barbecue sauce, and a mango-apricot barbecue sauce, and a hot sauce. it's a flavor-enhancer, and it's not only a marinade.

it basically a cooking sauce, so you can use it on everything. you can grill with it. you can roast with it. you can add it to soups and stews. lemonis: how did you come up with the idea? ana: i'm cuban, so for cubans, the mojo is, like, that's cuban ketchup, right? lemonis: yeah? ana: we put that on everything, and, so, i started making one, and then friends started asking me for it. and i was like, "maybe i should bottle this." lemonis: are you a chef? ana: well, i'm not a chef because i went to the culinary institute of my mom, like, you know? but i'm as much of a chef as most of the people on food network. i've written three cookbooks, and i've competed on food network. and if you ask bobby flay, the greatest cook ever. lemonis: okay. ♪♪ ana: when the second book came out, they had done this big thing in the miami herald about my new book, so i started getting, like, calls for endorsement deals and things like that. and i got called to do "real housewives of miami." don't hold that against me. lemonis: so, you were on "real housewives of miami"? how many seasons? ana: yeah, for two seasons.

i'm a terrible housewife because, to me, everything is attorney-client privilege, so i don't perpetuate rumors. so, no, it didn't work for me. lemonis: so, the million dollar marinade? how'd you come up with that name? ana: i don't know. it rolls off the tongue. lemonis: what's funny about it is you told me a lot of different things about it. ana: yeah? lemonis: "it does this. it could do that. it could do this. it could do that." how do i know that? ana: you don't. lemonis: because million dollar sauce is, like, i don't -- does it cost a million dollars? am i going to feel like a million dollars? ana: yeah, it's going to get you the accolades, and you're going to feel good. lemonis: my first impression of the bottle itself isn't great. this wouldn't exactly catch my attention. where do they go from here? ana: the distributor picks them up and takes them. i'm in publix, whole foods, milam's, and then i'm at fresh market. lemonis: just in the florida market? south florida? ana: yeah. lemonis: what's the price point? ana: publix has it at $4.99, fresh market has it at $5.49, and whole foods has it at $5.99. lemonis: how many bottles a year are you actually producing?

ana: a lot, but not a lot. i mean, it depends what "a lot" is. lemonis: like, 10,000 bottles? ana: more. maybe somewhere around 20,000? lemonis: i never expect, on the fly, for a business owner to have an exact number, but "how many bottles did you sell?" shouldn't have a range of 10,000. 10,000, maybe 20,000? can we get a little closer to the actual number? how long has the company actually been bottling and selling? ana: 2013, i think, was the first. lemonis: so, it's been a while. ana: i know. i think i haven't grown it like i should have because i didn't want to put the company in debt. lemonis: how much money have you invested? ana: probably around $50,000. lemonis: okay. how many employees do you have? ana: everyone's part-time. lemonis: no full-time employees? ana: no. and i just moved to an office, like, two weeks ago. lemonis: and, so, the only thing you do today to make money is the sauces and appearances. ana: and endorsement deals and, you know, whatever my books -- you know, books don't make a ton of money. lemonis: i like the fact that ana has real skin in the game, $50,000.

that's doesn't include the amount of money she passed up on by not being a lawyer. she's really committed to this. so, i want to take you to my friend's place, woodpecker in st. augustine. lemonis: we'll see if -- ana: if skinny latina has legs. lemonis: so, i'll see you there. ana: okay. ♪♪ ♪♪ this place is so neat. lemonis: [ laughs ] what's up, hot stuff? lisa: there you are. so good to see you. lemonis: did you get dolled up for me today? lisa: i did. you look so good! lemonis: i want you to meet my friend, ana. lisa: hi, ana. ana: hi, nice to meet you. lemonis: my friend lisa. lisa: nice to meet you. ana: he has said such nice things about you. lemonis: so, she's got some sauces and marinades. i know they sent them to you? lisa: yes. yes. lemonis: did you have a chance to marinate anything? lisa: we did. lemonis: in order to really understand the marinade better, i asked lisa to marinate something overnight and cook it so that when i got there, we can actually get right down to business. are you the smokemaster? joe: yes, i am.

lemonis: okay. all right. let's dig in. lemonis: what should we try first? i'm going to follow your lead. joe: why don't we start with turkey? ♪♪ ana: it's really good. lisa: that is good. lemonis: who wants to try a few ribs that are marinated? ana: come on, guys. try it. lemonis: everybody, come on down. lisa: don't be shy. come on. lemonis: what do you think? man: they're very good. lemonis: it's good, right? man: yeah. woman: fabulous. ♪♪ joe: this one is injected and rubbed. lisa: mmm, now that's got a nice flavor. ana: come on. lisa: it's finger-licking good. lemonis: it actually is pretty good. lisa: mike, what do you think, babe? lemonis: he's busy. he's like, "don't be bothering me." lisa: may i chime in? lemonis: please. lisa: if i put in my barbecue, and i said, "i'm introducing my ribs with skinny latina," all my men that come in here, and some women who are meat eaters, they're going to go, "not for me." you can't say "skinny" and "ribs." it just doesn't work. they're going to think, all of a sudden, "well, it's going to taste low-cal. not going to be good." you need it to be, like, some beefy latina -- no, just kidding. ana: but people are buying it, marcus.

lemonis: well, they're not, or i wouldn't be here. typically, celebrity-endorsed products have great branding, but the product itself isn't that great. in the case of skinny latina, the product itself is spectacular. the branding, not so much. why don't you and i go somewhere else, and we'll dig into the financials. ana: okay. lemonis: okay? all right. great. ♪♪ ana: so...okay. lemonis: thank you so much. woman: welcome. my pleasure. lemonis: so, what financials do you have? ana: just 2019. lemonis: so, you don't have financials from '15, '16, '17? ana: i didn't have time, and i didn't think it was -- lemonis: you know that that's not going to fly with me. ana: no, i know, but it wasn't making enough money to, you know, warrant the time and -- lemonis: think about it -- do you know how much revenue you did in the last 12 months? ana: yeah, like 2019, so far, is $41,000.

lemonis: okay. let's just back up here for a second. the cost of the product, raw cost today, $1.96 for the marinade, $1.71 for the guava barbecue, $1.63 for the mango, and then the hot sauce has not yet been returning. ana: not yet, because i'm working on it. lemonis: but, again, that doesn't include the labels. 14 cents apiece? ana: what, do you have a better label? lemonis: it's a sticker. where are the financials, on a different page? ana: i have no financials. this is all i have. lemonis: okay, well -- the minute you start a business, it's important to start keeping good financial records like how much revenue you do, what your margins are, what your expenses are, are you making a profit or not. in order for you to grow your company, you have to make decisions based on facts, not your gut. okay, so, let's put the papers away for a minute, and let's just assume that there's not much revenue. ana: no, yeah. lemonis: so, am i supposed to be excited by that or petrified? ana: excited because you know what? you've got the benefit of my experience, and i've never lost money. there's always been a profit margin, 30%, 40%.

places like costco are calling. i don't owe anybody money. i don't have partners. lemonis: which is awesome, yeah. ana: i mean, there's some value in that. lemonis: mm-hmm. yeah. ana: it's hard for me to -- that this isn't further along given that i've given up so much for it. lemonis: what do you think you've given up? ana: relationships. lemonis: you feel like you chose this over personal relationships? ana: yes, i'm going to be crazy cat lady. i'm going to have 15 cats, be in a ratty bathrobe, surrounded by my skinny latina empire, you know? lemonis: this is that important to you? ana: 'cause i don't know. i just believe in it. lemonis: you believe in what you're doing. that definitely counts for something. ana: yeah. i need you to help me think big and help me get to the next level. lemonis: the challenge is i don't know what i'm investing in because there's no financials, and there's no real revenue, and i don't know what -- ana: i mean, it's not real revenue to you. lemonis: it's not real revenue because it's not on paper

because you can't show it to me. so, it's phantom, but i know the proof of concept is there. this is one of the rarest occasions where somebody has an amazing product, but they don't have all the other building blocks around it to give me or any other investor the confidence to move forward. i want to help her, and i eventually hope to be able to invest, but i feel like, in this moment, it would be irresponsible for me to do so. for something like this that's a startup, i think the company needs a couple hundred thousand dollars, just to get it moving, right? and i'm willing to put in a portion of that, but not by myself. i think i need more people in the boat than just you and just me. how many people have you talked to about investing in the business? ana: nobody. lemonis: never? ana: no. lemonis: not one time? ana: no. lemonis: why not? ana: i didn't want them. lemonis: why? ana: because they wouldn't be silent partners. lemonis: number-one rule in negotiating? know your audience. silence? yeah, that's not going to be me.

ana: it's just more opinions and more stupid people that don't know anything about this, and then i'm going to have to explain the same [bleep] over and over. ugh. woman: i think it's just so cliché that when we think of latina, we always think that they're just showing cleavage. aaron: skanky. it's another day. and anything could happen. lemonis: how many people have you talked to it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat.

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about investing in the business? ana: nobody. ugh. it's a waste of time. i don't have that kind of time. lemonis: all right.

so, i'm willing to invest in this business if other people are also willing to invest, and the only way that i'll let them invest is if they go through a full-blown investor presentation. ana: by me? lemonis: by you. i want a legitimate business plan. ana: you want me to have even more hurdles. lemonis: no. ana: when is my easy time? lemonis: no, your easy time is after you actually do it the right way. ana: i thought it was by calling marcus lemonis, but, apparently, i have more work ahead. lemonis: well, no, because you called me is why you have more work ahead of you. and i'm not going to write a check for somebody that doesn't have their [bleep] together. i won't do it. okay? ana: yes. we got a deal. no money, no whatever, but, yeah. lemonis: no, no. we have a deal. ana: we have a deal. lemonis: and you will have money once you can prove that you can raise money from other people in the orthodox way. ana: i'm down. lemonis: okay? ana: i'm game. i'm excited about it. lemonis: okay. all right? ♪♪

all right? we're good? ana: yes, we're totally good. ♪♪ ♪♪ lemonis: i wanted to really understand how skinny latina lived in the marketplace, so i asked ana to set up a meeting at a local grocery store where she sells her product, and i wanted her to bring in a friend because i thought if there were two people there that she may be more open-minded to constructive criticism. do you think your package stands out? do you think it -- ana: yes, i do think it stands out in this sea of very masculine-looking stuff. lemonis: it's the only female character on any bottle... ana: except cholula. lemonis: ...except cholula. trevor: and that's a hot sauce. ana: who is the best-selling sauce in the world. trevor: yes, the packaging is more feminine, but i see a clear messaging with most of them, especially the national brands. if you look at these, i know that, that one right there is garlic and herb.

i know that this one is made from lemon, and that one has teriyaki. if i look at yours, i don't know what's in there. i don't know what it's going to do for me or for my dish. lemonis: i'm going to grab the manager and see if they have any feedback. one second. the sauces and condiments business in the united states is roughly $42.7 billion. of that, a decent-sized percentage of it will be spent on specialty sauces and marinades. big companies have a lot of money to spend marketing their product and even buying shelf space to dominate the category. for ana to even have a chance, she's going to have to come up with the brand and a look to compete with the big boys on the shelf. lee, when you saw the product or heard about it the first time, what kind of product did you think it was? lee: definitely get the impression that it's a lower-calorie-type option. ana: mm-hmm. lemonis: and has it been selling through? lee: it's been a little bit on the lower end of our sales, what we'd expect for the category. ana: you know we have other flavors? when you have more space, it kind of gets people to pay attention, and obviously -- lemonis: your calories are 25 for 1 tablespoon.

this competitive marinade is 10 calories. it feels a little misleading that you're calling it skinny. ana: but i don't know right now in this day and age a single person that is counting calories as a way of dieting. it's just not done anymore. lemonis: i'm pretty sure that people still look at calories. ana: i don't think so. trevor: i count my calories. ana: right. i don't know many people that count them. lemonis: well, you know one. ana: didn't know that about him, but let's make something with each of those products. there's only one of them that you'll eat. guarantee you. lemonis: yeah. her way of justifying her decisions are to refute everybody else's feedback. you want to be able to be partners with somebody and give them feedback. if every single idea you have is shot down, doesn't it put your money at risk? so, we're going to go to a focus group in miami. ana: oh, okay. lemonis: they have the product, and they're going to give us honest feedback about a list of questions. ana: okay. trevor: you got to be open.

you have to be open. ana: yeah. i am. lemonis: is this what open looks like? ana: this is as open as you're going to get today. i'm a work in progress. lemonis: trevor, i think it would be good if you come. trevor: of course. lemonis: only because i think i need some backup. trevor: yeah, i got you. ♪♪ lemonis: how are you? kathleen: hi. welcome to focus groups. lemonis: nice to see you again. so, i'm taking ana to a focus group today, which is essentially a controlled environment, and it allows people to give real, honest feedback without feeling uncomfortable. it's going to open her eyes. kathleen: so, we have 10 people selected at random. there's a camera and two-way mirror. so, you can see them, they don't see you. ana: right. so, if they're here, isn't there this kind of presumption that they're trying to find what's wrong with something? kathleen: no. there's going to be people that really like it, as well. lemonis: let's go do it. kathleen: it'll be a learning experience. let's go. hi.

♪♪ thank you all for coming. i would like you to circle what you like on that label, cross out what you don't, and put a question mark by anything that you are confused about. done? so, now what i'd like you do, just without thinking, give me one word -- what are your first impressions? lemonis: oh, boy. kathleen: what did you write? aaron: i actually wrote "skanky." her -- she takes over the whole image. alice: i agree with aaron. it's great that there's a woman on the label, but we can put a woman differently and no so...skanky. it makes it looks like if a latina woman is supposed to look like that. woman #1: i think it's just so cliché that when we think of latina, we always think that they're just showing cleavage. kathleen: okay. tell me something that you liked on this. what did you circle? giancarlo: gluten-free, for health reasons. kathleen: okay. woman #2: i circled "skinny" and the "all-natural" because i try not to use marinades that have a lot of sugars.

kathleen: okay. somebody else? woman #3: i'd like to see low-sodium and maybe how many calories on the front. kathleen: okay. lemonis: what? i'm sorry, did she want to know what the calories were? trevor: it's so weird. do you think she counts that? lemonis: how rude. trevor: nobody does that anymore though, marcus. kathleen: okay. what else? rivly: i crossed out "all-natural" because it doesn't say much. it doesn't mean much to me. kathleen: okay. what would make that mean something to you? rivly: it would have to say organic, gluten-free, no preservatives, no added sugar, low sugar, you know, all of that. ana: oh, dude, really? like, what else do you want me to put on the label, you know? that's just one of the those people that, for me, likes the sound of her own voice, is just a know-it-all. lemonis: i'm disappointed that somebody gives feedback she doesn't like, "oh, they don't know what they're doing." ♪♪ ana: i hate that the little woman's not there at all. lemonis: let's try to be objective. ana: okay. [ voice breaking ] it's really hard. it's just so different.

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hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. ana: that's just one of those people that, for me, likes the sound of her own voice, is just a know-it-all, and i don't think when they say, "oh, it's skanky," that it's coming from a place, really, about the label. i think that everybody brings themselves into it, and it's like that bothers me. lemonis: ana can't help herself but to react negatively when somebody gives feedback. it's literally got to stop. kathleen: how many think it's a diet, kind of low-calorie product?

aaron: i would think that immediately. kathleen: yeah. aaron: just by the name. woman: is this bethenny frankel's brand? kathleen: so, you think it's skinnygirl? what would you think if it was not? woman: you're just getting a free ride off the skinny brand. rivly: i had that same issue, too, because i felt like it was a rip-off of skinny margarita. lemonis: the logo, the look, the name, and the fact that there's a woman with red on, it's tripping people up between ana's skinny latina and skinnygirl, the brand. kathleen: guess what we get to do now. all: taste it. kathleen: so, if you want to pass it around, that's fine. ♪♪ lemonis: come on, baby. bring it home. it's going to be excellent. ana: it worries me because it's supposed to be on food. lemonis: everybody's going to love it. giancarlo: um, excellent. the flavor is great. man: it's got a great taste, but it is light, so i could see it being the skinny deal. woman: i like that there's little chunky pieces

of, like, vegetables or whatever the product is. like, to me, i know that makes it the natural part. they want you to see it. alice: it's tangy. it's definitely latino flavor. i can just eat it up like this. kathleen: okay. rivly: one of the things that i questioned was whether or not you could use it as, like, as sauce. and it says right here, you can bring it to a boil, and it becomes a delicious sauce, so i'm really happy about that. kathleen: anybody going to try this when you go home? aaron: i'm going to try it. woman: i'm definitely going to try it. rivly: i'm going to publix after this so, yeah. ana: wow. kathleen: really appreciate everybody's honest opinion, and good deal. lemonis: i thought the feedback was very honest, and in some cases, it was a little harsh. but even though you may not like the feedback, you still have to absorb it. this was excellent for you to get validation on something you've worked so hard for, and we should spend the time and the money to go through the process of seeing what would tell the message better. ana: yeah. lemonis: what i want ana to take away from the positive comments

is if people are willing to be complimentary, and you love it, and you accept it, and you believe it, then you have to give credence to the negative ones, as well. ♪♪ ana: when my daughter went to versailles in france, she texted me. she goes, "this is not versailles. there's no croquetas here." lemonis: [ laughs ] exactly. any time i'm in miami, i love going to versailles. it's a place where you can feel the community come to life. there's a lot of energy there, and i thought it would be a fun place for ana and i to sit down and just share a meal. that focus group today for me, it was like in a vacuum, it was your personality. you went in expecting the worst. the lady made some comments, you're like, "pfft, what does she know?" then, the minute you heard positive reinforcement, you're like, "i like that lady." ana: yeah, but i was surprised by the positive. it's so funny. lemonis: why were you surprised? ana: i don't know.

lemonis: but everybody has told you the product is good, so what are you surprised about? ana: i know. i don't know. lemonis: do you not have self-confidence? ana: i do, but it's just that comes from my upbringing. my whole life. my mom would compare me to all her friends' daughters. she doesn't like people that are overweight. like, she thinks it's a... lemonis: like a lack of self-respect. ana: ...lack of character, yeah. and, so, when i went to law school, during that time, i, like, gained a lot of weight, and she would just tell me, "but look at this one. why does she" -- whatever. so, the weight thing was a big issue. i just thought that if i weighed 5 more pounds, she loved me less. lemonis: people's behavior today is a product of their history, and if ana felt criticized as a child, that is why she reacts the way she does to criticism. normally, at this point, i would have made a deal with the business owner. ana: oh, i know. lemonis: okay, and i haven't because i have to mitigate the risk. the liability in this particular business is the way you look at people. i think what has to happen now, we're going to do the investor conference.

you have to put a 15-minute, lively, animated presentation together. it's going to bring your personality to life so people are like, "i want to be part of that." i need you to show me that it's possible. let's get into the numbers. "in 2018, this is what i sold at these kind of margins." i want to make sure that with ana, i allow her passion and her vibrance and her enthusiasm and her love for her product to live, but most importantly, i want her to have the numbers. i'm 100% positive, and i would not say this to you if i didn't mean it, 100% positive that you're going to kick ass, okay? ana: thank you. ♪♪ nice. lemonis: yeah, it is cool, isn't it? i made a call to black dog, which is one of the best branding agencies in all of miami, to help me show ana some new ways to think about her product,

and what i'm hoping they can do is show her the possibilities of what could be done if she was open-minded. ana: oh, boy. i'm a little nervous. john: you shouldn't be nervous. this is exciting. we were tasked to kind of evaluate your product label. ana: okay. john: but i don't think that we can do that without looking at your overall brand, and it is slightly all over the place. ana: [ chuckles ] yes. john: you've got a very popular instagram where you have "ana qooks" with a "q." skinny latina does not have your name forefront on there at all. we want people to be able to recommend your product or recommend your brand. and i have a concern of the scalability of your product when you have an illustration that is almost exactly like skinnygirl. ♪♪ we're thinking about taking your script and really playing up on the "q" part. we think it's fun. we think there's some elegance to it. now the drum roll can happen. and this is very different. it's bright, colorful.

ana: um... [ sighs ] okay. i don't like this. i think it's really busy. i hate that the little woman is not there at all, you know? i love her. lemonis: does it look bold and flavorful? ana: it does. it's appealing. i just don't know that it's me. lemonis: okay. ana: you know, you become attached to something, and so it kind of freaks me out. john: yep. ana: oh, i'm going to start crying. [ voice breaking ] oh, god, it's really hard. lemonis: i get it. ana: it's just so different. ♪♪ would you invest in my product? man #1: i don't think so. man #2: uh, no. ana: no? man #3: no. ana: no? man #4: no. ana: no? woman: no. no. man #5: no. lemonis: if you're looking to take your business to the next level, log on to theprofitcasting.com.

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ana: [ sniffles ] it's just so different. it's like i'm losing myself. water tastes like, water. i just worked really hard without knowing anything, and that's what i came up with. and if it's [bleep] it's [bleep] but it's me. lemonis: any time i'm looking at a business, i want to see emotional stakes that show me that this business is everything to people. ana's reaction proved to me how much this thing means to her. let's try to be objective for a minute. ana: okay. lemonis: okay?

what i like about what they did, ana, is that they clearly marked out the calorie content, which people in the focus group said, "tell me that it's healthy." ana: right. lemonis: tell my why it's skinny. and they understood who the brand really was, which was you. from a business standpoint, ana q is the brand, and skinny latina is a product inside of ana q. ana: i mean, i want the girl somewhere, even if she's tiny. maybe a more refined version of that girl. john: the use of illustration is not a problem, but it has to be done well. lemonis: it looks a little bit like clip art. if you did a live instagram, will people comment? ana: yeah, i think so. lemonis: great. get your phone out. ana: hi, everyone. i'm here with the team from black dog ad agency. these are the new suggestions for evolving skinny latina, and i want to know what you guys think. lemonis: what are people saying? ana: "love the new one." "really like the ana q focus." "like the new label." "i like the new label with no girl." what?! lemonis: stunning you a little bit? ana: so shocking. lemonis: what i don't want you

to do is just compromise because everybody else loves it. there's a balance between everybody else love it and what you love, and, somehow, you've got to find the middle of that. thank you very much. amazing work. ♪♪ ♪♪ lemonis: so, today, i'm at the biltmore hotel in miami for ana's investor presentation. are you freaking out? ana: there's a part of me that's excited, but mostly, i'm terrified. lemonis: i told ana that i wanted to put a roomful of investors together, and if she can convince them about her product, about her process, and about her financials, it they're in, i'll be in. ana: hi. man: hi. ana: welcome. man: thank you. ana: i really want you to try some food. lemonis: yeah, let's do that. ana: i've made a few different things for you because i wanted to show you the versatility of the sauce. lemonis: i'm kind of blown away by what ana put together.

she actually put out a whole section of food so people can actually taste the product and validate it. she looks like she's ready to really kill it. ana: i really came up with this sauce when i was a young mom juggling a growing law practice and these little girls, and it was really a time-saver for me. and now this has become -- skinny latina is my third child. lemonis: she knows her story. she can very well explain her passion, but for an investor, they care about your numbers because people aren't going to write a check into a black hole. they're just not going to do it. ana: the condiment market is growing exponentially. it's expected that by 2025, it's going to hit about $174 billion. i mean, we want a piece of that, right? we're on the shelves next to some of the biggest brands. i'm at fresh market. i'm also at whole foods and at 400 publix stores. man #1: is it a sugar-free marinade, or is lower calories? ana: yes, it absolutely has lower calories, and it has ingredients that you can pronounce. man #2: how attached are you to the current branding? ana: i'm attached to the name because i think it's a great name. man #2: i'm just thinking, who's going to, like,

go after this sauce. i believe it'd be, maybe a woman like you that worked, that don't have a lot of time. but how about a guy that's like me? ana: actually, i do think men buy skinny latina. lemonis: it's interesting watching ana's evolution, because as people are firing questions at her, there's some that she's handling with ease, and she's not being defensive and judgmental. man #3: what is the growth potential that you see in your sauce, you know, if we invest, you know? ana: okay, well, that's a very good question. i have a three-year growth plan, and part of it is expanding to more skus. i think that's really important to present to new retailers, to develop new products, but i can't do that without an injection of capital. man #4: so, last year, what were your total sales? ana: last year, we sold 200,000 units. man #5: do you know the profit of that? ana: i think it was about $116,000. man #6: what's your anticipated net profit for 2019? ana: we're kind of on track for very similar, maybe a little more. lemonis: do you have a forecast in your presentation? do you have a slide for that?

ana: i don't have a slide for that. lemonis: while ana has done well so far, as we turn the corner into financials, the wheels are falling off the bus, and they're falling off the bus fast. are there any financial slides in here that show revenue per year and then profit per year? how much inventory are you sitting on? how much cash are you sitting on? what are your payables? how is it going to grow? how much capital do you need to actually grow into that? ana: no. lemonis: nothing like that? ana: no. ♪♪ lemonis: for exclusives, extras and business advice, visit theprofit.cnbc.com. baaam. internet that doesn't miss a beat. that's cute, but my internet streams to my ride. pshh, mine's so fast, no one can catch me.

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every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. ♪♪ lemonis: are there any financial slides in here that show revenue, margin, expenses? ana: no. i mean, i can -- listen, guys. i can't give you exact numbers because i've been -- this is just me. i haven't been great at, you know, just doing all this, you know, perfectly financial things, and he's wincing, and i'm sorry. but i'm not going to lie to you, either, because, you know, i have to be honest. lemonis: i told her that if other people didn't buy into what she was doing, i wouldn't move forward, and right now, nobody in the room is buying off on this. what i thought we could do now, this is where it's a little awkward, but i'd like -- ana: this is a little awkward now? lemonis: no, what we're going to do now. ana: okay. because it's been awkward the whole time. [ laughter ] lemonis: not for me. i'm fine. ana: i just don't -- you're right. of course. lemonis: what i'd like you to do is go around the room.

we want to understand from people, would you invest in this company based on this presentation? it's a yes or a no. ana: based on my presentation, would you invest in my product? man #1: yeah, i don't think so. man #2: uh, no. ana: no? man #3: no. ana: no? man #4: no. ana: no? woman #1: no. woman #2: no. no. man #5: no. lemonis: okay. so, if you asked the question differently and said, take the numbers out of the equation, would you invest in me and the product? ana: okay. paul, would you invest in me and the product? paul: yes. ana: yes. would you invest in me and the product? woman #3: yes. man #6: yes. ana: yes? man #7: yes. ana: yes? man #8: yes. ana: yes? man #9: yes. ana: really? yes. woman #4: absolutely. man #10: it's be a yes with some conditions. ana: yes. lemonis: okay, so, what -- okay, but what is the difference between the "noes" and the "yeses"? ana: the fact that i wasn't solid on my numbers. lemonis: people in the room were excited by what was there -- the fact that she was in publix, the fact that they liked the way it tastes.

she had had a lot of success, but what people kept saying to her is the same thing i'm saying -- when you get your numbers together, we'll take a look at it. the one thing that i thought you did really well today is for the first time that we've been together, you didn't judge anybody that was asking you questions, and that, to me, was the biggest win. i feel like we've made progress, but in terms of me investing right now, i'm not there yet. ana: okay. i'm okay with "yet." lemonis: well...that's good. ♪♪ i assigned ana a variety of things to do while i was gone. i want her to work on refining the packaging with black dog, and i really want her to get to a conclusion that everybody can live with, including her. ♪♪ i also want her to go back to the drawing board and start working on her numbers to put the forecast together to get the margins right so that she is dialed in.

♪♪ the last thing i want to do before we move forward is to have ana submit her product to a food lab because in order for me to invest or for me to be comfortable with being associated with it, i want to know that everything that's in the bottle and on the label is factually correct. man: the nutritional content, caloric content was 18.5. lemonis: okay. man: it tested negative for the presence of soy, and expressed to gluten is less than 5 ppm. lemonis: so, it would qualify...? man: as gluten-free. lemonis: well this is great. now i feel more legitimate. ♪♪ ana: hi, how are you guys? mike: how are you? ana: nice to meet you. mike: hi, mike. lemonis: contemporary marketing is a company that i use to launch products to market. if ana can land this meeting and have contemporary agree to rep her marinade, she'll have exposure to grocery stores across the country.

not selling 100,000 bottles, she has the potential of selling a million bottles. ana: okay. so, four skus of a brand called skinny latina, and they're marinades and sauces. lemonis: i connected her with a marketing agency in south florida that worked on a rebranding, and i'd like her to show you where we're thinking about going. this is what is and what it's transformed into. man: all of them pop better. mike: yeah, that's weak. that's confusing. i mean, this clearly states the brand and the product. you know, the hot sauce, the barbecue sauce, the marinade. i like it. lemonis: so, i want you to take mike and the team through your numbers so they can understand the financials to understand how strong the business is. ana: so, in 2018, our total revenue was $94,824.80, which left us a gross profit of $35,056.03. i sell all three of these products for $3.30 a unit. a bottle of marinade from the co-packer costs me $1.91, including labels and costs, and the margins on this is 42.12%.

the barbecue sauces, the mango, it's $1.72 to make it, so it's 47.88%. lemonis: the way that you're speaking about your margins and the costs, you're like a whole different person. ana: thank you. so, is this something you guys would consider taking, skinny latina and me on as a customer and helping me grow this thing? ♪♪ mike: we definitely would. ana: yes. mike: yeah. ana: thank you so much. that really means a lot. lemonis: i was stunned by this meeting -- her professionalism, the presentation of the new branding, the quality of financial data that she brought. i was even wondering if it was, like, an ana impersonator. awesome job. ana: i had a positive attitude, and it went well. lemonis: you get a high five on that one. you did it. i'm proud of you. very proud of you. ana: thank you. ♪♪ i'm ready to sit down with ana and really consider doing a deal with her because i feel like she's done every single thing

that i've asked her to. how are you? ana: i'm good. lemonis: good to see you. and while she maybe rolled her eyes a few times or pushed back, in the end, she made the changes. she made the progress. she deserves a shot. so, one of the things that i said to you was, through this process, is if you can get somebody else to invest, i'll invest. ana: yeah. right. lemonis: so, how's that working? ana: it's working okay. i mean, there's somebody here that wants to meet with us. lemonis: one of the people that ana invited to her investor conference a few weeks ago was her friend, nick molina. ana: hi, nick. thanks for coming. nick: hi, how are you? lemonis: nick, how are you, sir? nick: good to see you. lemonis: nick is miami-based and has a track record of successful startups. this is a real serial entrepreneur. i'm curious to see if ana can actually negotiate with the both of us. ana: so, we've already talked about the possibility of nick investing. lemonis: yeah? ana: so, do you think you want to invest in my business. nick: well, i mean this in the nicest way,

but i think you need me to be honest with you. you've got a great product. i think i can add a tremendous amount of value. ana: my next concern is, like, numbers and percentages, and -- lemonis: well, let's back up for a second. what's the company worth in your mind today? ana: skinny latina is worth $500,000 based on five times revenue, which last year was close to $100,000. lemonis: a half a million dollars? ana: yeah. there's risk for everybody here, marcus. lemonis: not for me. i haven't written a check yet. ♪♪ ana: we need to do a rebranding. we need to do a full rollout, but -- lemonis: the first amount of money needs to go into what? ana: into inventory. lemonis: okay, great. so, start there. ana: i don't think $75,000 is enough money. lemonis: that is the best you're going to get from me.

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how do things look on your end? -perfect! because we're building a better network every single day. ♪♪ lemonis: a half a million dollars? ana: yeah. there's risk for everybody here, marcus. lemonis: not for me. i haven't written a check yet. ana: the way that you invest, to my understanding, is that you invest in the process and the product and the people. it's a great product. what's my value, right? lemonis: are you asking me that? ana: no, i know what it is. lemonis: well, what is it? ana: it's a lot more than $500,000. lemonis: that confidence is what i love about you. what do you think the investment should be? ana: i think $200,000 for 40%. we need to do a rebranding. we need to do a full rollout. lemonis: when i first met you, you said to me, "i have grocery stores who want the product, and i don't have the capital to give it to them." the first amount of money needs to go into what?

ana: into inventory. lemonis: okay, great. so, start there. okay? the deal that i'm willing to make is to agree to your $500,000 number. i would want to lock that valuation up for 12 months, and i would want to have the right to invest up to $125,000 for 25% of the company and no less than $75,000, for 15%. so, what it does for me is it gives me the flex to go from $75,001 to $125,000, but if at some point, i feel like the wheels are coming off the bus, i can mitigate my risk for the other 50. and your progress and your performance and your results would determine whether i would go from $75,000 to $80,000 to $90,000 to $125,000. ana: right. lemonis: that is the best you're going to get from me. ana: i do think it's a fair offer. the only problem i see there is that i don't think $75,000 is enough money.

nick: listen, ana. let me jump in here for a second. you're short $75,000 from the $200,000 you were asking for, right? he's committing up to $125,000, okay? i'll jump in for the remaining $75,000 with the same premise. i want to mitigate mine through the same percentages as marcus'. ♪♪ ana: okay. ♪♪ that sounds...like a good plan, and i feel kind of really fortunate to have both of you. lemonis: i think ana really proved herself, and there are plenty of entrepreneurs who just need a shot, and they need a chance. in this case, she needed the opportunity, but she also needed some tough love and some direction. i think this idea of her feeling like she was a victim turned into her feeling like she was a champion of her own product, and, honestly, i think she's a badass. so, do we have a deal? ana: yes, we have a deal. lemonis: okay. we have a deal? nick: we have a deal. lemonis: great. ana: thank you. neiman marcus, here i come. lemonis: that's -- i wouldn't lead with that.

[ laughter ] ultimately, what i want ana to have is a million-dollar business, not a million-dollar marinade. cheers. ana: cheers. thank you. lemonis: you did good, lady. ♪♪ we fast money we appreciate it see you tomorrow the news with shepard smith starts right now the president addresses the nation, and people on opposite ends of the country battle mother nature's fury. i'm shepard smith. this is the news on cnbc will in crisis. >> currently the parish is without power and we're without area some areas facing a month or more without power. i was not going to extend this forever war. >> president biden