Ep 4. Polar Bear Coolers

Marcus Lemonis returns for a seventh season of the hit series The Profit, a show that sees him use his expertise in business and finance to help struggling companies turn their fortunes around. In season seven, audiences can expect more of the same, plus a whole host of new businesses in need of Marcus's help.

In season seven, episode four, titled "Polar Bear Coolers", Marcus heads to Phoenix, Arizona to meet with a family-run business that specializes in soft, coolers for outdoor enthusiasts. Polar Bear Coolers was founded in 2002 by Robert Clinkenbeard, who built the business from the ground up alongside his wife and son. With sales of over $12 million, the company has seen significant growth in recent years, but things have begun to stall, and Robert is worried that the company might not be able to keep up with the competition.

Upon arrival, Marcus meets with Robert and his son, who show him around the offices and warehouse. Marcus is impressed by the products and notes that the company's uniqueness might be just the thing to push them ahead of the competition. However, he quickly learns that the business is in a precarious financial position, and with mounting debt, it's clear that action must be taken if they're to avoid bankruptcy.

Marcus begins his work by observing the business's operations, interviewing staff members, and analyzing the accounting books. In doing so, he identifies several weaknesses in the business that are contributing to their financial woes. For one, the company has invested heavily in outdated technology that isn't adequately serving their needs. Additionally, they're not leveraging e-commerce channels to their fullest potential, and they're struggling to get their products into stores.

Marcus suggests a series of changes designed to streamline the company's operations and increase sales. First, he advises them to invest in new technology that can automate much of the warehouse and shipping processes, reducing the need for manual labor. Additionally, he recommends a more targeted approach to marketing and sales, emphasizing the unique selling points of their products and leveraging e-commerce platforms to reach new customers.

The changes Marcus suggests require significant investment, but he's confident that they'll pay off in the long run. To help fund the changes, he offers the family a deal: he'll invest $200,000 of his own money in the business in exchange for 30% equity. The family is hesitant at first but ultimately decides to take the deal, and Marcus gets to work implementing his plan.

Over the following weeks, Marcus works closely with the Polar Bear Coolers team to implement the changes he's suggested. With his guidance, they invest in new technology, launch an aggressive marketing campaign, and overhaul their distribution strategy. The changes pay off almost immediately, and the company begins to see significant growth in sales and revenue.

As the episode winds down, Marcus reflects on his time with Polar Bear Coolers and the progress they've made. For the first time in a long time, the business is on solid footing, and the family is once again optimistic about their future. The experience has been a positive one for Marcus too, who's proud of the work he's done to help keep a family-run business afloat.

Overall, season seven, episode four of The Profit gives viewers another fascinating look into the world of small business and the challenges that come with running one. Through Marcus's work with Polar Bear Coolers, we see the power of innovation and adaptability in the face of tough times and the importance of relying on outside expertise to guide you through them.