Case Study 1 - The Profit in Starting a business

High School ・Business ・MLA ・1 Sources

Evidently, keeping a business afloat during the first few years of starting has been a big challenge in the recent past. It is a big struggle that often without help from professionals one may easily quit. Convincing that market that your product and service are able to meet their demands and expectations is a task that needs to be carefully considered. A plan needs to be put in place and implemented to help give a way in which the objective has to be achieved. As the business grows, there needs to be control and reevaluation of goals to ensure, that the business is competitive and relevant in the market so that it does not fail.
Small business has a big potential of turning a dream into a reality. The process of converting the dream to reality and making the business sustainable is quite a challenge as illustrated by “The Profit”, a TV show that aims at helping small business overcome challenges. The TV show is hosted by Marcus Lemonis, who is a businessman with a vast experience regarding small business. He sacrifices his resources helping them to succeed and to overcome past failure. The episodes begins by illustrating how tough business is. He not only invests his money into the business but he also invest his skills and time to transform the business.
The episode presents a natural pet supply shop - Bentley’s Corner Barkery, It is a small business established and owned by two people. The partnership company incorporates an investor who owns 30 % stake in the company. It has been existing since 2008. The business was found in order to help in solving the problem that one of the partners had faced, and they are driven by passion to succeed. Over the years the business has grown opening seven branches but it is experiencing financial challenges. According to Marcus, the general idea of their activity is good and the business can be restored.
On the first day Marcus realizes some of the causes of their failures. He notices that the store is arranged with poor lighting and the poor product mix, which yields a balanced profit. In addition, he figures out, that the pricing of the products does not cater to the customers on a budget. Moreover, the organization lacks leadership, which is important in ensuring that the organization buys into the vision. It does not have a standardized branding in their branches that may be confusing for the customers. The business is not making wise decisions because it does not rely on the records they have, which could have given them an accurate analysis of their progress.
Marcus appreciates that there is potential for growth and he is ready to invest into the business promoting it to transform and to grow. He does this under the condition of 25% equity ownership proposal and day-to-day control of the business, and receives their agreement. He informs all the staff in order to keep everyone stick to the objective of the business and sets the rules for the transformations. He goes through the products mix and pricing with Lisa alongside an expert to establish the best products with the best pricing. In addition, he ensures that Giovanni is taking under control the meetings and the staff. He gives him a layout of what is expecting of him as a leader.
Through achieving consistent inventory plan, merchandising, process, suitable product mix, pricing and mostly important leadership that is yielding results, doubling daily revenue and has good prospects of growing further.

Work Cited

“Bentley’s Corner Barkery.” YouTube, uploaded by CNBC Prime, 13 May 2016,

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