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

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    It's weird and I suspect they just have a crappy site because I had this problem last year, and then thought I fixed it, and then it stopped working again for a few months and the started working again all by itself, and now it's not working again. Oh well.

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    They must have fixed something on their end because starting last week I could stream the show to my computer again. So now I'm caught up again.

    The second Farrell's episode made me catch my breath... that was a mindblowing level of mis-management. Apart from that, I'm curious about something they did. Near the end of the show, when they were putting together the Farrell's/Sweet Pete's combo store, Marcus commented that the candy racks looked like a 7-eleven because all the candy was in it's original packaging. He was right, it did. He told them to re-package it all, and they did, and it looked amazingly better. But what did they do, tear open all those packages of candy and put it into their own packaging? Wouldn't that take days of pissy manual labor? Or is there a re-packaging company out there that does this kind of thing?

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    Quote Originally Posted by SumpinSpecial View Post
    They must have fixed something on their end because starting last week I could stream the show to my computer again. So now I'm caught up again.

    The second Farrell's episode made me catch my breath... that was a mindblowing level of mis-management. Apart from that, I'm curious about something they did. Near the end of the show, when they were putting together the Farrell's/Sweet Pete's combo store, Marcus commented that the candy racks looked like a 7-eleven because all the candy was in it's original packaging. He was right, it did. He told them to re-package it all, and they did, and it looked amazingly better. But what did they do, tear open all those packages of candy and put it into their own packaging? Wouldn't that take days of pissy manual labor? Or is there a re-packaging company out there that does this kind of thing?
    They probably did it that way because they already had the stock and probably ordered it from a distributor. . In the future I'm sure they could order direct from the manufacturer in their own branded packaging. When I ran bars I know you could do this with certain liquors, so I'm sure it can be done with candy and other food products. For example I know for a fact that Hershey's does it and think about things like peanut packages on flights.
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    Being a cheapskate is just starting a free 30 day trial for Hulu which has all of this years Profit episodes. The site I used before to view them didn't seem to work but if it is the same site you used may be working now. I just started my free trial so I have only watched one episode which was the recap of his losses and successes. The Farrell's episode is number 10 so normally it would take me a while to get there but I may just watch it today so I know more about what you are talking about. I can't see repacking a Hershey bar but if it was something made special for them that would be different. I will try and watch that episode and see if I have any comments. A day or two ago Marcus tweeted that he would be someplace in Illinois and anyone wanting to be in the show should stop by. I wish he had done that when he did the local one which was Simple Greek. That would have been pretty cool to be there when they were filming.
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    I just finished watching the Farrells episode. I can see what you mean by repackaging but sometimes presentation can make a big difference and make the extra labor worth the investment. It amazes me how many turkey's Marcus manages to partner with when here on SBF we have all wonderful people who are experts at marketing and running their business.
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    This has turned into my favorite show. From shaking my head, to sitting in stunned disbelief, to wanting to reach through the screen to swat some people upside the head, to the respectful nod of the head (Bently's and Sweet Pete's).

    That most recent Farrell's episode raised many red flags for me. I really don't think that it was mismanagement that caused the issues. It looks to me like it was a complete disregard for the long term profitability over short term gain for some "investors". The biggest flag was the email directing the one partner to close out an account as it makes me think that a paper trail is being covered up.

    With that said, who wants to build and sell some tiny homes?

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    I have to wonder with some of the issues that the managers of the companies in trouble have how they made it as long as they did without driving their businesses broke. There are some great people like Sweet Pete that just let people take advantage of them and really are pretty smart operators. Some of the people Marcus partners with I would not want for a partner. I just watched the tiny home episode tonight but had seen it before. it's my favorite program as well. I just wish it was easier to watch.
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    Oh, I need to go watch that one. I accidentally skipped over it during all the browser probiems.

    I think what is clear is that they do drive the business into being broke but they often prop it up with debt and just bury themselves in deeper. It's one of the things that I'm most leery of and why I'm very likely undercapitalized rather than taking on a loan to cover my operating expenses. I have a tidy retirement saved up and there's no bloody way I'm spending all of it in a year or two!

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    I agree with you that many seem to let debt get out of control. It seems like a lot of them want the life they could have after the business is successful before it is successful. As I recall the Farrells Ice Cream follow up the main restaurant was profitable but the one owner pulled out all the profits and did that without paying Marcus the money he was supposed to get which I believe was 5% of sales to pay back the loan part of the deal.

    The Sweet Pete's original episode had something similar. Pete was hard working and not greedy but he had a partner who was renting him a house to use as their store that wasn't very appropriate and he was charging his partner a sky high rent. The location could not draw in the business and the sky high rent was wiping out any profits.

    I thought the pop corn one that aired a few years ago was neat. The owners were terrible and a big part of their business came from the rights to sell popcorn at DisneyLand. The episode made them look so bad that Disney pulled their rights.

    I don't doubt that there are businesses where the right move is to borrow enough to really have the business take off but I do agree with you that in most cases it is better to grow the business slow and avoid debt. Usually we learn a lot as we go and trying to get too big too fast can be a big mistake. Once the business does take off not having any debt can be a big plus and can really help if times do get tough as they did in 2008.
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    The second Farrell's episode blew my mind. How can you take profits out of the store before paying off your debtors? That's finance 101, isn't it? I can see pulling profits from one store to prop up another one (temporarily!) but to pull the profits just to cash out? Beyond irresponsible.


    Love this show! It's full of small business lessons, and I love learning from the mistakes of others! LOL

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