Ep 12. Tankfarm & Co.

Marcus Lemonis travels across the United States to help struggling small businesses get back on their feet in this episode of 'The Profit'. In the fifth season, he meets Tankfarm & Co., a clothing company in Huntington Beach, California.

Owned by a husband and wife team, Tankfarm & Co. was founded out of their love for vintage and Americana apparel. They specialize in men's clothing and accessories, with a focus on workwear and utilitarian design.

Lemonis is initially impressed with the quality and design of their products and sees potential in the brand. However, he quickly discovers that the company is struggling to make a profit due to poor financial management and lack of a clear strategic plan.

The husband, Brian, is passionate about design but lacks business acumen. Meanwhile, the wife, Kelli, is tasked with managing the finances but struggles to keep things organized. Together, they are at a loss for how to grow their business and make it profitable.

Lemonis works closely with the couple to identify their strengths and weaknesses and develop a plan to take the company to the next level. He emphasizes the need for a strong brand identity, effective marketing strategies, and financial discipline.

One of the major challenges Lemonis faces is the company's heavy reliance on wholesale distribution. He encourages the couple to focus on building a direct-to-consumer e-commerce platform to increase sales and get more control over the brand. They also explore new avenues for revenue, such as creating limited edition collections and expanding into women's clothing.

Throughout the episode, Lemonis provides invaluable advice and guidance to the couple, sharing his expertise in retail, branding, and business strategy. He makes tough decisions, challenges the couple to think outside the box, and helps to turn their struggling business around.

Overall, this episode of 'The Profit' highlights the importance of financial discipline, brand identity, and strategic planning for small businesses. It offers valuable insights for entrepreneurs looking to succeed in a competitive marketplace.