Description
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Watch one episode of The Profit, a television show on CNBC featuring Marcus Lemonis. Marcus is an investor who helps struggling/failing businesses turn their fortunes around. The typical flow of the show is as follows:
- Marcus meets the business owner(s) and gets a feel for where the business is. This always includes a review of financial statements.
- Marcus makes a financial offer for part of the business. The owners may try to negotiate with Marcus to get a better deal.
- After the deal is made, Marcus implements changes aimed at turning the company around.
- By the end of the show, it is usually apparent whether or not the deal has a chance at success. Either the owners have followed through on Marcus’ advice and signs of a turnaround appear, or the owners have fallen back into old habits that will almost certainly doom the business.
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Explanation & Answer
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1
Ashtae Products
Student’s Name
Institution Affiliation
Course
Professor’s Name
Date
2
Ashtae Products
Background of the Business and Deal
The business is called Ashtae Product, and the owners are Michael Woods and his wife,
Ramona. The company was founded in 1993 after Michael left his job at a major beauty
company to go and found his small firm in the same industry (CNBC Prime, 2018). The
company makes hair products with a focus on multi-cultural hair needs for their customers. The
first offer from Marcus is one for 25% of the company for $200,000. Ramona makes a
counteroffer of ...