On The Profit, Marcus Lemonis visits four of the companies he’s invested in, including Amazing Grapes, a wine store and retail shop near Los Angeles. When Lemonis first met with owner Greg, the company was bringing in more than $3.5 million in annual sales — but they were operating at a loss. The Profit described Greg and his rarely seen partner Bill as being “more interested in sipping than selling.”
When Lemonis finally got Greg and Bill to sit down and talk, he suggested liquidating and closing the shop due to a lack of leadership and high debt (they owed vendors $600,000). Instead, Lemonis invested $300,000 to gut and renovate the space with a new bar with ample seating. Lemonis got 51 percent equity, but the deal had a contingency — that Greg and Bill’s hard-working employees get 25 percent. Amazing Grapes is now averaging $80k a week, just under $4.2 million a year. The Profit airs Tuesdays at 10pm on CNBC.
