standard burger is still open today, it's profitable, but the five guys are not together anymore.ouple of them are just doing their own thing. one of 'em was fired. in hindsight, i made a big mistake by investing there, in hindsight. it was a $750,000 error. another big disappointment for me in terms of follow-through, amazing grapes, a wine retailer in california with an absentee owner. so what do you do full-time? since you don't come here every day. no. i come in here probably, two, three times a week. -two, three times a week? -yeah. or two, three times a month? and guess what? amazing grapes closed. it's gone. i put $1 millions in that business. $1 million. and it closed, because there was a couple people there that did not want to follow the process. but for every business like amazing grapes, there's one like bentley's, a pet supply chain based in the chicagoland area. lovely people, but one hell of a messed up process. they had grown way too fast. every store looked different from the next. the merchandising is different, the layout is different, the lighting is different,

. >> but are you going to help them do that >> the good example of follow-through, standard island burgernt i invested in a couple of years back. it's frustrating, because while it's still a viable operation today, it could have been so much more. when i first arrived i found a group of friends who could not have been closer or more volatile. >> are you kidding me? i was three blocks away. i was never -- >> they're fighting has led to a real embarrassment of a restaurant. from frozen patties they use to the dirty kitchen. i overhauled their menu and completely renovated the space and put one of the guys in charge of the managing, and told them most importantly they need to follow my process if it is going to work to stay engaged. i came back a few months later, the guys made changes to the menu that i never approved of. and they wasted time scouting to new locations instead of focusing on the plan which is to build a national franchise concept in one place. we're in the business of building a box, polishing it, perfecting ining it and having somebody saying i'll take it. we're not in the

standards. [laughter] ashley: veried good. so the word fat in burgerind, turn some people off who want to eat healthy. >> no, it's a very lean burger. we've been around for 70 years serving the same burger. it's less than 20% fat, we even have a skinny burger which doesn't have a bun and a is about 300 calories. there's a lot of options for healthy eaters. ashley: you were once convicted after filing a false tax return, do you worry about any of that impacting the ipo filing? >> it was a long time ago, i served the sentence, i paid the fine, this is a different company. it's been years and years, that was 20 years ago, and i'm excited to bring this business to all of our fans around the world who can invest and be part of it. ashley: we wish you the best of luck and thanks for talking with us today, ceo of fat burger under the symbol f-a-t. appropriate. >>> u.s. automakers reporting sluggish sales last month, especially gm, so is this just the time you should be buying a car? is our jeff flock investigates next. ♪ ♪ i'm... i'm so in love with you. ♪ ♪