Marcus Lemonis would clearly like to focus on the money he’s making rather than the money he’s losing from his many investments on CNBC’s “The Profit.” But that doesn’t mean the star of the reality investment show isn’t absolutely aware of what’s coming in and going out.
“I know exactly what I’ve invested,” Lemonis recently told Business Insider. “I’ve invested just a little over $US31.5 million as I sit here today, with another $US4 to $US5 million to go into the businesses that have been on the show for this particular season.”
Of that, he said, “I’ve probably lost $US3.5 [million]. Maybe more, maybe close to $US4 [million]. Gone. The money’s gone. It’s not like it’s going to come back. It’s gone.”
On every episode of “The Profit,” Lemonis introduces viewers to a new company. He’ll meet the owners, speak to the employees, and take a look at their overall operations before he decides if he’ll invest. But that’s just half the story. Lemonis pointed out that many times he spends more than his initial investment.
“There are subsequent growth strategies that require additional investment, there are more stores that opened that require additional investment,” he said. “There are problems that arise that require additional investment. And so at the end of the season that you’re watching now, this 12-13 episode cycle — I’ll be at $US35 million.”
Once again, Lemonis is considering investing in a wide array of businesses this season, including a retail jeans store chain, a company that makes cedar gazebos, another focused on lobster rolls, and one that makes delicious pot pies. This season also features the show’s first startup company.
“It’s not truly an idea on a piece of paper, but it’s an early-stage company that does less than $US100,000 worth of revenue,” the entrepreneur said. “We’ve never done that, and so [we look at] the challenges of starting a business, how do you find distribution, and manufacturing, and all those things.”
Lemonis said that he’d rather viewers focus on something other than the type of businesses featured.
“For me, doing the show is one, about making investments and making money — that’s kind of the basic premise for me — but the second is making sure that we’re doing businesses and working with business owners and employees where there’s a new business lesson,” Lemonis said. “I always encourage people to really think more about the business lesson than the actually commodity being featured.”
“The Profit” airs Tuesdays at 10 p.m. on CNBC.
See what’s ahead on this season of “The Profit” below.
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