The Profit Season 8 Episode 3 Checks and Balances

Marcus Lemonis is back with another episode of The Profit season 8, titled "Checks and Balances." In this episode, Marcus is called upon to help a Michigan-based company called Detroit Denim. The company, started by Eric Yelsma, is known for its unique, high-end denim products, which are designed and produced in the United States. Detroit Denim has been struggling to stay afloat, and Eric has turned to Marcus for help.

As usual, Marcus begins by visiting the company to see firsthand what challenges they are facing. He meets with Eric and takes a tour of the factory to see how the products are made. Marcus quickly notices that Detroit Denim is not operating efficiently. There are too many workers, and they are not staying on task. Marcus also observes that Eric is very hands-on and is involved in every aspect of the business. This is causing him to neglect some important tasks, such as accounting and financial management.

Marcus sits down with Eric to discuss these issues and devises a plan to help Detroit Denim become more efficient and profitable. He suggests that Eric hire a production manager to oversee the factory and ensure that everyone is working efficiently. Marcus also recommends that Eric hire a bookkeeper to manage the company's finances and create a better system for recording expenses and revenue.

As Eric begins to implement Marcus' plan, he realizes that he must be more hands-off and allow his team to take on more responsibilities. This is especially difficult for him, as he is used to being in control of every aspect of the business. However, he comes to understand that this is the only way for Detroit Denim to grow and become profitable.

In addition to hiring a production manager and bookkeeper, Marcus also helps Eric rebrand his company and revamp his website. He suggests that the company focus more on its unique processes and American-made products, rather than trying to compete with larger denim brands. Eric takes Marcus' advice and begins to market his company in a new and more authentic way.

Throughout the episode, Marcus works closely with Eric to help him understand the importance of delegating tasks and creating a more efficient and streamlined business. Eric admits that he has made mistakes in the past, but he is committed to improving his company and making it a success.

As the episode comes to a close, Detroit Denim is in a much better position than it was at the beginning. The company has a new production manager, a bookkeeper, and a rebranded website. Eric is also learning to trust his team and allow them to take on more responsibilities. It remains to be seen whether Detroit Denim will become a profitable and successful company, but with Marcus' help and guidance, it is certainly on the right track.