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Thread: Discussion about tv show "The Profit" or any other businesss-related show

  1. #11
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    Yes, I watched that pet shop episode a little while back. And took a few lessons from it, of course.
    Sharon, Owner/Operator
    Something Special Pet Supplies

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  3. #12
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    This was a new episode that aired for the first time last Tue. The first half he looked at a shirt manufacturing business and walked away because one of the owners also was a radio DJ and his show was both racest and sexist he didn't want to deal with the guy and the second half he revisited the pet store and went with them as they were wanting to buy out another pet store owner. Basically it was an update on the first show. During the first show the guy he invested with had 6 stores and was losing money now Marcus has invested 50 million more and they are up to 80 stores +/- and making 4 million or so a year. The pet part of the show focused mainly on an update, improving margins, adding one more store and adding doggie rain gear to the product line. Their margins were at 47% and he wanted it to get to 50. The rain gear had a 70% margin.
    Ray Badger, Turbo Technologies, Inc.
    www.TurboTurf.com www.IceControlSprayers.com

  4. #13
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    I finally watched the latest one yesterday. I love updates on that Bentley's shop because it's so close to what I'm doing. On the other hand, it also makes me feel like a complete loser because their success seems so skyrockety compared to my tiny numbers. Granted I'm not quitting my full time day job to work full time on my business and I know that's one problem. I also don't have the goal to grow that fast. But it's one of those "there's always someone better than you" kind of things, and if they ever come into this area it will be yet another competitor. There is a lot of money in pet goods, but it's also extremely competitive, to the point where I think the industry is going to start .... (looking for the term).... imploding, but not in the failure sense but in the mergers and acquisitions and developing monopolies sense.
    Sharon, Owner/Operator
    Something Special Pet Supplies

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    I believe Marcus said he had invested 50 million in Bentley's and I am sure if someone invested that much in your business it would grow faster but I do agree with you it is good to grow slowly. One of the major reasons for business failures is growing to quick. I started my manufacturing business off pretty small as well. I started in a two car garage I owned and bought a cheap drill press, cheap band saw and cheap welder for a total of about $ 750.00. Later we moved to a little bigger place I rented for $ 450.00 a month and built some of my own equipment and bough a little used stuff pretty cheap and just kept growing. If you have a ton of cash or take in an investor you can grow fast but I think you appreciate it more when you do it on your own even if you grow slowly.

    One of the things I have noticed about Marcus's program is how little some of the people know about their numbers and has he points out you have to know your numbers. That is what I have spent a big part of this weekend doing, taking a hard look at my numbers which I do every year. Sometimes you get some big surprises. I was a little surprised how much my costs have gone up over the past 5 years.
    Ray Badger, Turbo Technologies, Inc.
    www.TurboTurf.com www.IceControlSprayers.com

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    Thanks for the reassurance. Yes, when I'm not feeling envious of the show's business successes I do feel pretty good about what I'm doing. I did launch the business more as something to do with my high energy (that's not being utilized in my day job), all of the other skills I have that are also not being used in my day job, and to learn more. I seriously learn from that show and forums like this, and books, so that I start doing things right before I start losing buckets of money. I've made an effort to learn my numbers, and because I'm such an Excel geek, I created a bunch of other spreadsheets that other people don't do so that I can make charts and graphs.

    For example, I put my last two years of monthly gross profit, expenses and net profit into a spreadsheet and then made a couple of line graphs from it. One graph shows gross profit and expenses side by side, month to date. The other one is just the net profit, as an area chart. Added a some trend lines and... it's a thing of beauty! According to the gross profit/expenses trend lines, I broke even last November (the two trend lines crossed at zero, with gross profit going up and expenses going down). Things like that motivate me more than anything! But the numbers have to be correct because I don't like deluding myself.

    Back on topic, I can't wait for the next episode!
    Sharon, Owner/Operator
    Something Special Pet Supplies

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