grafton furniture is a shining example. started in 1964 by esteban grafton, the custom manufacturing company makes everything from sofas, chairs, to tables. steve: this one's 154" by 96". lemonis: his son steve now runs the business and designs most of the furniture and is 50/50 partners with his wife, mary. their son, also steve, is there to learn the business and keep it going for another generation. but when the economy turned in 2009, so did the company's fortunes. steve: the market was soft. finances were really bad. lemonis: when business slowed, the company and the family began piling up debt to keep the doors open. today, with limited funds, they work in an outdated facility that's strangling production. third-generation businesses have a high fail rate, and without some dramatic changes, the future of this business is in serious doubt. hopefully, i can get a deal done and have lots of reasons to come back to miami, including making some money. my first impression of grafton furniture is that i like what i see. i lik