Millionaire Marcus Lemonis rescues green cleaning company
Reality show 'The Profit' features companies in need of investment and mentoring.
Wed, Aug 21, 2013 at 06:14 PM
Like a one-man “Shark Tank,” multi-millionaire Camping World executive Marcus Lemonis has made it his mission to invest in and save struggling small businesses and make them profitable, something he’s done for over 100 companies in the past 10 years. Now he’s taking that mission to TV, putting $2 million of his own money on the line in his CNBC show “The Profit.” This week’s episode featured a green cleaning products company called Eco-Me that’s in debt, poorly marketed, and inefficient.
While Lemonis “found a void in the marketplace for all natural cleaning products” and believed in the company’s founder, Robin Levine, “what needed to change was their broken sales and distribution process, and the supply side of the business—manufacturing and distribution. I changed the packaging and branding, creating an identifiable brand. And I cleaned up the balance sheet, which ultimately changed the way they operate.”
The environmentally-friendly aspects of Eco-Me appealed to Lemonis, who believes, “Green products work for everyone whether you are truly green or not. Who wants chemicals in their products? These products aren’t as niche as the original packaging made it out to be,” he says, noting that he uses them at home. “Sales are up tremendously since the episode taped,” adds the satisfied investor, “but I do see small tweaks that could make it even better.”
Not all of his “Profit” deals work out as well. “I don’t invest in every company featured, but I wish all the companies well whether I invested in them or not,” Lemonis says. “My biggest success actually with this series is meeting new people and helping them change their process and business for the better.”
Looking ahead beyond the two remaining “Profit” episodes this season, he adds, “While I am not specifically looking for green companies, if a company meets my criteria then I would definitely consider for Season 2.” He has already invested in natural manufacturers like organic snacks and gluten-free products.
Armed with a “business mantra” he calls the “Three Ps: People, Process and Product,” Lemonis is always searching for new investment opportunities. Those interested in applying to be on “The Profit” can do so at www.theprofitcasting.com.
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