Ep 11. Swanson's Fish Market

Swanson's Fish Market is a thrilling episode of The Profit season 2 where Marcus Lemonis ventures into the world of seafood as he visits a fish market in Fairfield, Connecticut. Swanson's Fish Market is a family-run business that has been struggling to stay afloat due to the lack of modernization and their reluctance to embrace new marketing tactics.

Upon his arrival at Swanson's Fish Market, Marcus Lemonis finds that the business is in a dire state. The building is old and rundown, the branding is non-existent, and the pricing is not competitive. The owners of Swanson's Fish Market, brothers Kevin and Brian, are resistant to change and would rather stick to their old ways. Marcus, however, knows that in order for the business to succeed, they must adapt to the modern ways of running a business.

Marcus begins by observing how the business operates. He watches as the staff meticulously cleans the seafood, but he also observes how the store seems to lack energy and enthusiasm. He suggests that they start showcasing their product, making it more appealing to their customers. To do so, Marcus introduces a fish display that will showcase the seafood that is available at Swanson's Fish Market.

Furthermore, Marcus also looks into the pricing of the products sold at Swanson's Fish Market, which unfortunately comes out to be much higher than its competitors' prices. After much discussion with the brothers, Marcus introduces cost-effective methods to purchase the seafood, lowering the prices of the products without sacrificing its quality.

Another issue that Marcus deals with during the episode is the outdated design of the store. The store is old fashioned and gloomy, and Marcus suggests that they update the store to breathe new life into it. He positions the seafood display at the front of the store and the checkout counter in the back to create a more comfortable and engaging shopping experience for customers.

As Marcus begins to address the problems faced by Swanson's Fish Market, he starts to unveil the issues of the brothers. The brothers have never worked with a key performance indicator(KPI) and are uncertain regarding inventory management. Marcus helps them by introducing inventory management software, which allows them to track their products, sales, and profits effortlessly.

Throughout the episode, the brothers face many challenges that threaten the success of Swanson's Fish Market. Thankfully, Marcus is right there to guide them and ensure that every step taken is for the profit of the store.

In conclusion, Swanson's Fish Market is an excellent episode that showcases the struggles of a family-run business and how it can overcome challenges with a strategic plan. Marcus's input and contribution to the store have ensured that the future of Swanson's Fish Market is bright. Marcus guarantees that the store will continue to thrive in the seafood industry and bring smiles to the customers who walk through the door.