Transcripts For CNBC The Profit 20240713

I can tell you for damn sure, youre replaceable. And i back them up with my own cash. Theres your check. Its not always pretty. Everybodys working hard, not just you. But this is business. I was just gonna try to stop you in your tracks. Youll never to stop me in my tracks. I do it to save jobs, and i do it to make money. Chingching. This is the profit. [upbeat music] worldwide trailers designs, builds, and sells concession trailers, mostly to food vendors. Tom etheridge and nancy pappas started the company in 2001, and took it from a backyard startup to a multimillion dollar business. You got 50 . I got 50 . Tom and nancy were a couple, and although their relationship came to an abrupt end three years ago, they have continued to Work Together. Working with nancy is difficult. Nance, you never agree with anything i say anyway, so whats the point . I not only run the company, but i also have to watch my back on a regular basis. Why would you do this and not tell me . Worldwide trailers brings in 4 million in revenue, but their profits have flatlined around 400,000. From my experience in this industry, worldwide trailers should be making way more than 10 profit. I want to see some doublin in our numbers, triplin in our numbers. We invested a lot of money, almost 1 2 million, to get our factory open. That was our life savings. It was a huge risk for us. With almost 20 employees, theres a lot at stake. I want to keep this job. We have a lot of people that depend on us, so thats why i work hard every day. This business means everything to me. I know theres a huge market for what tom and nancy make. If i can grow this company as big i know it can be, i stand to make millions. Hi, im marcus. Nice to meet you. What do you do here . What Everybody Needs me to do. Im the office assistant. Well, where will i find tom and nancy . In the back. This is where everything takes place. They outfit here. Walking into the worldwide trailer tampa facility, im surprised at how small the whole plant is. Theres not a lot of people here, and for a company that puts out hundreds of trailers a year, im not sure where everything is. And so are they made here too . No. Theyre actually built from steam up in our georgia factory, and then theyre delivered down here. So they pretty much come to us like a empty house, and we install everything here. The fact that they have split this manufacturing into two facilities is a very big issue. I know its costing them money. Well, ill find my way. Its just on the way back there. Ill find my way. Nice meeting you. Nice meeting you. Take care. Thank you, yes. How you doing . Im marcus. Nice to meet you. Rick. You build all this . I install it and put it together. What happens if a trailer comes here damaged . If its something that i can fix here, then ill take care of it. If not, itll go back to the factory. That seems costly to bring it back and forth. I mean, gas prices these days . [whistles] any time you run manufacturing out of two separate spaces, youre gonna have additional labor costs. And then what about the cost of moving the product back and forth . Itd be like manufacturing a car in detroit and then towing it to ann arbor to put the tires on. All right, well, thanks, man. I appreciate it. No problem. Hi, marcus. How are you . How are you . Nancy pappas. Both nice to meet you. Hey, marcus. Tom etheridge, nice to meet you. Tom, how are you . Good. This is the headquarters for worldwide trailer . This is the headquarters. Did a little research. The product you guys make is good. Yeah. Now, how muchhow much revenue is your company doing . We did 4 million last year. And so how much of that actually fell to the bottom line . How much did you make . Maybe 400,000. How many will you make a year . About 125 trailers a year. Keep in mind, not all trailers are food trailers. Even though thats what we specialize in, well build emergency command post trailers. Weve built mortuary trailers, casket trailers. Were pretty good at what we do, marcus. Weve been doing it for a long time. Whos that . Thats kita. Thats kita. Thats the shop dog. Yeah. Whose dog is that . Mine. Its my dog. No. [laughs] no, thats my dog. Your dog, his dog . No, its mine. Oh. Used to be my dog. No, it was ours, and she stays with me. Oh. We were a couple for 20 years, but were not together for the last 3. How is it working together andis that odd . I dont really have any issues as long as nobody gets in my way. Ill make sure i stay out of your way. I was hoping i could get a tour of the place. Do you guys want to give me a tour . Both sure. Oh, wow. Yeah. And so is this essentially a commercial kitchen . Yes. So i can cook like a you can bake oh, this is like an oven in your house. Yep. Okay. French fries. Yes. Is this the passthrough window for thats your serving area. And so id come up, order myorder one window, pick up in another window. Right here, yep. And so what does Something Like this cost . Close to 50,000 retail. And so what is the cost to make Something Like this . You know, thats a good question. I could figure it out in my head real quick, but i need a piece of paper and a pen. I thought you said your head. Well, if i had a piece of paper and a pen this one, though, i do have to say, is because we have a lot of specialty things 10,000 . Itd be under 20, marcus. Tom and nancy dont know what it costs to make a trailer. They dont know their numbers. Theyre not sure how much money they make. I mean, this is a classic case of doing well in spite of yourself. So nancy, why do you make em in two different places . Because everybody who works at the factory in georgia has been doing it for 20 years plus, so theyre very good at what they do. The reason we have an office down here is cause he and i are here. So we wanted the finished product to be here to see the end result. So how much efficiency can be improved if you made everything in one place . Were paying two mortgage payments. Thats like 2,300 bucks a month. And also, weevery trailer that gets built there has to be transported here. 60 grand is what were paying in a year to transport em just down here. To me, efficiency equals margin, margin equals profit, profit equals another bmw. Right . Why not . Would you move . Absolutely not. I live on the beach. I cant move. [laughs] by operating two locations hundreds of miles apart, they are eating into the profits. Real estate expenses, around 50,000, including the mortgage payment. Transportation costs, around 60,000. The damage that happens when we transport things, around 50,000. Maintenance, taxes, utilities, another 50,000. At a minimum, we could save 210,000 a year. You guys have a successful business here. It does 4 Million Dollars a year. You didnt just wake up on the wrong side of the bed and trip into 4 million. Youve done very well, but i can see why you guys called me. Um, who called you . Weyou all called us. Whats that . You all called us. Oh, you called him . Well, i spoke to them. Oh, you did . Mmhmm. Oh, okay. In the first place, that right there, i was never aware of that. So yeah, im not happy about this at all. You sendin somethin in. You been lying all this time, making it look like, oh, they called us and picked us out of the blue, and out of 100,000 people, and all this kind of stuff. In the meantime, youre sittin there lying every day. Some people dont know any better, so you have to help them help themselves. I dont need no help. You sure do. No, you need help because youre a pathological liar, is the way i look at it. What did you say about me . Nothing that everybody dont already know. Okay, well, i need to see what was said. Its funny how youre more interested in the application than improving the business. Listen, i have to tell you but i came to do business. For me, its all about business. Thats it. Thats why none of it shouldve been anything except for business, so hopefully, thats all that was in it. Im telling you, thats i wouldnt have come. If i thought it was gonna be a circus, i wouldnt have come. Thats it then. We dont have a problem. Nancy, why dont we go outside and talk, okay . All right, lets go. Im already sensing that these two cant communicate well together. Any time youre in business with somebody that you have a scorned relationship with, that doesnt bode well for the business. I mean, ill be honest with you. If we didnt have this business, i would never speak to him again. Why dont you buy him out . Because he wouldnt let me. Has he tried to buy you out . Mmmm. No. And were not in positions to basically buy each other out, as far as the amount of money. The thing is, yeah, we were together 20 years. Tom has made some really bad choices since he starts bangin his girl. She just kept workin him and workin him. Shes like, you know, hey, can i [bleep] . This took place for about a month before i found out. I knew he was up to somethin. So 2011, february 6th, i get my abbed her [bleep] hair. Her eyes were like [bleep] cue balls. She rolled out. Tom turned over and hes like, nancy i [bleep] punched him so [bleep] hard, i gave him a black eye. And then our 50,000 viper, which was a 95 with 6,000 miles, aint never been touched but with white gloves, i took my [bleep] keys like a pitchfork and i wiped out every panel that i could basically get my hands on. Went home, packed my [bleep] up and i left, and i aint never dealt with it since. That was way too much information for me. I dont mind open lines of communication, but, man. So whats a guy like you doin bein single . I already laid it out. I told my sister, i said, oh, hes a great guy. Great guys always you dont even know me yet. I could be crazy. I said, oh, hes gonna have three kids. No, no kids. Be married. No. Chingching. Did that just happen . I came here to do business. I didnt come here for, like, speed dating. Tom and nancy clearly have leftover issues that are affecting the business. Theyre gonna have to prove to me they can Work Together as a team. But before i make any investment decisions, i want to go to waycross, georgia, and see this manufacturing facility. So is this an entire manufacturing process . This is it here. We build everything from scratch, you know, from the frame up. If you want to take a look at yeah, i would. This trailer, thats a mobile daiquiri trailer. He has his daiquiri machines, and hell serve out of this side. And so, walk me through the process of how it works. We order the steel components. Some of it is sized. Some of it we have to cut. But basically, the framesthe first thing we do, the main frame, is the walls come up, then the ceiling goes on. Come on, there you go. This is normally about a threeday process. Okay. And then we start doing the interior. We work from the inside out. And how much land do you have here . Its about 10 acres. Why is there just stuff everywhere . You know, we dont want to have axles outside. If we have room to put them inside, they need to be inside. The way tom and nancy treat their inventory is very disrespectful. Things outside rustingaxles, metal, wood. They might as well just put a bunch of cash in the middle of the floor and light it on fire. Do you know how much in Raw Materials you have on the ground at one time . I couldnt tell you right now. You dont inventory it . In four years, we have not done an inventory. I mean, in a manufacturing business, right, you always want to know what your Raw Materials are and what your finished goods are. cause thats really where your working capital is, right . Thats right. Well, i have to tell you. Just seeing the product thats made, yall do a good job. Thank you. This product is nice. We appreciate it. Thank you. So how many of you guys have been down to the tampa place . Yall seen it . Never been down there. Why do they have that facility down there . I have no idea. You guys think you could finish it here if we had the right facility . Yes. Oh, we know we could. Yeah. We know we could. Yeah, without a doubt. I went out and met all the guys in the shop, lot of experience, lot of enthusiasm. To be honest with you, i was very pleased with what i saw in waycross. Im gonna make a lot of money. You guys want to show me how to weld something . Show you how to do your job . Theres the man right there. Come on, lets go. Show me how to do this. [laughs] all right, so here we go. Yes, sir. [upbeat music] [laughs] did i do it . Yeah, thatll hold it. [laughs] you dont want me to take your job, do you . I dont think i got to worry about that. [both laugh] ive seen both facilities now, and i think worldwide trailers has a lot going for it. Although there are some real issues between inventory, shipping, and the production process, what im really concerned about is the behavior between tom and nancy. As long as i can keep them professional, were gonna be okay. If they can remain professional, were gonna make a lot of money here. So whend you start drinkin . Oh, iive always drank. Notnot 20 years i knew you. Oh, yeah. Well, hello. How are you . Marcus. Hi, good. Both good to see you. I met a labor force in waycross that i was really impressed with their dedication and their effort, and i was impressed by the guys there. Theyre good. Theyre very good. Considering what they have to work with. I think the inefficiency that i found there is bad, but fixable. And if you take good people and a bad process, and you can fix the process, then their output can grow dramatically. I want to figure out how to make more money. I mean, i dont spend my time im not a consultant. I dont put money in for fun. I put money in to make money. Right. And if i dont think i can make money, then i dont do it. Communication is a risk. Its very obvious to me here. Do you guys think you can Work Together . Should you be concerned about our relationship . Im not gonna sit here and lie to you. Absolutely. Do i feel that nancy and i can come to some sort of terms if we develop a relationship and a partnership with you . I think we can. Nancy, how about you . If its business, we dont really have to have a personal relationship. I mean, i do have one thing i will say though. I will not be willing to hire certain people. You focus too much on the past. I am never gonna be willing to ever work with your girlfriend. Shes got nothing to do with our business. She thought she was gonna work for our business. You conspire these things in your head that are untrue. Trust is everything to me, loyalty. You cant explain yourself. You have no proof. Oh, i explained myself very clearly. The bottom line is, when youre disrespectful to me and you try to hurt me and my business, im not cool with it. Well, then you probably shouldve checked yourself. Guys, i dont know if i can do a deal with you guys, because im concerned that you guys cant even have a conversation and just be calm about it. My name isnt going on this. I mean, i got a brake light thats crooked. Theres no finish on this. Look at this seam right here. I mean, this unit really should go back. And later. I asked you to see your financials. Two days in a row, you didnt have em. I cant move forward unless i have some sort of idea. Is there illegal activity . She looks important. Oh, yeah. Shes one of the most important people in all of peytonville. Really . Mayor . Insurance agent. Wow, she must be really good. The best. Thats why she chooses nationwide to help protect all the families, businesses, and dreams in peytonville. horn honks people really count on her. She must be really famous around here. She is. I got her autograph back at home. Must be small. It is. You can barely read it. This is my body of proof. Proof i can fight moderate to severe rheumatoid arthritis. Proof i can fight psoriatic arthritis. With humira. Proof of less joint pain. And clearer skin in psa. Humira targets and blocks a source of inflammation that contributes to joint pain and irreversible damage. Humira can lower your ability to fight infections. Serious and sometimes fatal infections, including tuberculosis, and cancers, including lymphoma, have happened, as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. Tell your doctor if youve been to areas where certain fungal infections are common and if youve had tb, hepatitis b, are prone to infections, or have flulike symptoms or sores. Dont start humira if you have an infection. Humira is proven to help stop further joint damage,. And its the 1prescribed biologic for psa. Want more proof . Ask your rheumatologist about humira citratefree. The theater home to you,t to with xfinity movie premiere. Theres a world full of other trolls. How different can they be . Our brandnew service that lets you watch all the latest movie releases from the comfort of home. Trolls world tour available now. I will protect you no matter what, pinky promise. Just say xfinity movie premiere into your voice remote to bring the theater to you. Guys, i dont know if i can do a deal with you guys, because im concerned that you guys cant even have a conversation and just be calm about it. You know what . Theres always problems there. Obviously. Marcus. What, nancy . I really, really want to work this deal. It doesnt feel like it to me. Look, i want to get down to business. I dont want to be in the middle of all that drama. Theres gonna be no drama. So you guys can either work it out, or you cant. Theres gonna be no drama, cause he knows thats not a good idea. You guys work that out. Its done. Were gonna go ahead, and i want you to come back in. And lets work a deal, but thats whereour personal business is done. Its gonna be a i dont have time for it. I know. Honestly, im not interested in what happened in their personal relationship. Thats not why i came here. I came here to do business and make money and not to play therapist. So earlier, tom, you told me you made 400,000 in profit last year. Oh, absolutely. 400,000. So heres my offer. My offer is 1 2 million into the business for 50 of the business. Yeah, no, thats im agreeable. Youre in agreement . Im agreeable. My number was higher, so im kind of well, tell me what your number was. My number was 1 million. For 100 of the business . Absolutely not, marcus. [laughs] so what i think you have to think about is my ability to add margin to the current business, pays for itself immediately. My purpose is to invest in the company, and in the people, and in the process, and in the product so that this business can be built from a 4 Million Company to a 10, 20, 40 Million Company. Yes. I know fori know it would be no problem for me. Nancy, how about you . Well nance, i think with marcus onboard and no money in our pockets . Thats kind of listen, im not saying its the greatest deal and all. But on the path were on now, it doesnt work for me the way it is. So im willing to go down a different path. 50 is not good for me for 500 grand. The way i feel is, i dont want to be left with 25 of the company. You know, we started it from the bottom. I just she can play hardball all she wants, but heres the deal. If i give up more percentage, i go home and collect the check, and ill go do something different. Right, i need you to be interested. Heres what iheres my final offer. Okay. Okay . So ill go to 700,000 and youll each put 50,000 in your own pocket, and the rest will go into the business. Now were talking a little bit. No, now were talking, and thats it. Think about it. I think worldwide trailers has the potential to be a 20 million business. And although its only 4 million today, it still makes 400,000. So the way i see it, im paying 700,000 for the rights to own 50 of a business that makes 400,000. Thats a pretty good return. The check that i write will be 700,000. 50,000 goes to tom, 50,000 goes to you, 600,000 goes into the business, and i get 50 of the business. We got a deal. We got a deal . We got a deal. Thank you, marcus. I was gonna work you a little bit more, so [scoffs] the final deal that we make is for 700,000. Now remember, anything that i decide to do with this money, whether its buy a building or buy equipment, im gonna own those assets. And even the 50,000 checks that i wrote to tom and nancy, well, they cant be cashed until the deal is finalized. Thats how i protect myself. They sure are. Theres your check. Okay. I was just wondering if i have a boss now after all these years of when you take my money, im in charge. Do you understand that . Im completely willing, yep. All right, guys. Ill see you tomorrow in waycross. All right, partner. Steve, lets meet up. All right, fred, come on. Guys, i want to thank you for comin today. And im very excited to give you some news. Tom and nancy and i have made a deal. Im gonna be putting in 600,000 into the business, and i will own 50 of it. And im gonna be 100 in charge. That 600,000 is gonna go into building a new facility in waycross. It doesnt make sense to me to run a company in two places. Worldwide trailers has two separate facilities where they operate their business. Waycross, georgia, is where they manufacture the trailer. They send the trailer down to tampa and complete the trailer. And the only reason tampa exists is cause nancy lives there. I want to consolidate both locations into one facility and build a new building in waycross, georgia. Without changing anything else, were gonna save 60,000 in transport costs alone. One of the ways were gonna make more money is by putting an Inventory System in place. Im gonna redesign our manufacturing process. A new Inventory System will help us understand exactly what it costs to build each trailer. That information will allow us to anticipate our needs and have the necessary parts on hand, so we can maintain a steady and efficient manufacturing line. So i believe in people, process, and product, but people is the most important thing. Most people could not work in this environment. Theres no process in place, and the issues that have existed between these two have impacted the business. But thats not gonna exist any longer. Thats why im 100 in charge, because i dont want everybody else in the organization having to be subjected to whatever drama, whatever the nonsense is that goes on. I dont want it. There wouldnt be no drama out here. There has been drama. They dont know about that. They think communications fantastic . Well, im just saying, as far as you saying that between me and him. Im talking about as coowners of a business, your ability to communicate to your employees and have the message be clear. And it isnt about personal drama, nancy. Well, i was just gonna try to stop you in your tracks if you were talkin about that because theres no drama that comes out here. Well, heres a newsflash for you. Youll never stop me in my tracks. Well because im focused on two things making money and protecting my guys. Yeah, so am i. So you should visit them, and then well be on the same page. Okay. Okay . Lets get to work. [applause] tom and nancy are headed back home to tampa, but at the same time that theyre arriving, a 100,000 smoker trailers arriving. Its going to a big barbecuer out of texas. Yeah, just keep an eye on the dip. Were good. Whats up, guys . Did everything come in right . Um. Hey, how are you . Im good. I was just walking the unit, trying to do a little bit of an inspection. What happens if it comes here damaged . Do you have a checkin checklist . Um there is nosome sort of a checkout list. Its silly to me. If im paying 100 grand for this unit. Uhhuh. It may seem silly to somebody that this things crooked, but i want it to be straight. Oh, i want it to be exactly correct too. And then i got a brake light thats crooked. I got a side light thats crooked. I mean, look at the wave here. This thing isnt even a day old, and i got waves. The product is still great, but there are still Quality Control issues that need to exist. And if tom and nancy were in waycross, inspecting things before they left to the customer, these kind of problems wouldnt happen. When i see stuff like this, and these walls bowing, i mean, this unit really should go back. How much is this unit . How much does it cost us to make . Marcus, we didnt do a cost analysis on it, so i couldnt tell you. Nancy, im confused. I mean, you should know down to the nickel what it costs you to make an 8 1 2x20, right . Right. You wont get that. So we need to go get our price list, right . I wont get that . You wont get that. Why is that . Because we dont have it. Nance, you dontyou dont not the hat channels you will not be able to go through this trailer and identify all the costs for him. Thats not possible. We dont have that. Ill go grab some stuff and see what i can why dont you go grab what you can, and grab the financials while youre at it . Sure. So let me understand this, guys. This is the first time ive seen the financials. Where is 2013 . Financials . Uhhuh. Um, we dont have them yet. Do you have january through today . Any month this year . No. How come . Uh, truthfully, because our accountant is behind, and we have probably not provided him with everything he needs. This is a real problem. I dont know how you run your business this way. Well. And so how much does your business make on an annual basis . About 400,000 a year. Why does this say 200 . Lets be honest. I mean, we dont keep good track of stuff. I mean, thats the bottom line. Lets be honest. Why would i put my money in something that you guys dont know how much you make. We negotiated on something. You told me there was 400,000 of earnings. Its 200,000 of earnings. Whos in charge of the accounting here . Nobody really. When you come in, thats all gonna stop. It has to have a format. It has to have a procedure. You mean do all the work . No, not do all the work. Ill be right in there with you workin, but did you guys think you knew your numbers before i came . Were making money, and i kind of know but you dont know how much . No. So these tax returns show the same thing. Its 200 and something thousand of earnings. Its half of what you guys told me it was. Like itruthfully, i havent had that much time to look at it. Do you know how much you have in the bank account . Yeah. What your payables are . Pretty close. I always tell people, and this shocks me that people dont know this, you have to know your numbers, and you cant lie. When im standing there, looking at the financials, and ive been told that these things are 400,000, and im making an offer based on 400,000, and i see something thats 200,000, we got a problem. Did you guys accept a deal from me . Yes, we did. But you also came hereyou also came here today and said that, you know, youve got to think about it, and i understand that. I do have to think about it. You told me the numbers were x, and theyre really not x. Its underhanded, the way i look at it. From him . Yeah, somebody lying to me for months, including everybody else. You guys were lying about your financials. No, were not. No, wereyeah, whatever. Yeah, you guys are. You guys were lying about your financials. You guys shook my hand. You took my check based on certain numbers. Thats right, and we worked a deal. And you never told me anything last night, you needed to see me if youre not in the picture, were not gonna have a couple hundred grand in [bleep]ups. Thats all i can say. If im not in the picture, you guys arent gonna be open. We [bleep] up a lot. You guys better get your [bleep] together. Everybodys working hard, not just you. Ive been proud of what ive done in business. You come in here and make me feel like a piece of [bleep]. Im replaceable, and i can tell you for damn sure, youre replaceable. There are times when our need to connect really matters. To keep customers and employees in the know. To keep business moving. Comcast business is prepared for times like these. Powered by the nations largest gigspeed network. To help give you the speed, reliability, and security you need. Tools to manage your business from any device, anywhere. And a team of experts here for you 24 7. Weve always believed in the power of working together. Thats why, when every connection counts. You can count on us. In a time when so mit matters even more what doesnt change. Our hearts are open. Our teams are here. Doing everything we can to help all families. Today. Tomorrow. Always. Get relief behind the allecounter with claritind. Ion claritind improves nasal airflow 2x more than the leading allergy spray at hour 1. Claritind. Get more airflow. Its a like, a dagger . A worm a tiny sword . Bread. Breadstick . A matchstick a lamppost coin slot no . Uhhh. 10 seconds. A stick a Walking Stick eiffel tower, Mount Kilimanjaro ding time sorry, its a tandem bicycle. What . What . as long as sloths are slow, you can count on geico saving folks money. Fifteen minutes could save you fifteen percent or more on car insurance. You guys have spent a lot of time telling me about trust. Sure. You dont trust him, he doesnt trust you, all the nonsense back and forth. I moved forward in theh. Negotiation based on trust. I made a deal with tom and nancy because they said they were making 400,000 in profit, but when i look at these financials, it says 200,000. I need to get to the bottom of this. I asked you to see your financials. Two days in a row, you didnt have em. I feel like you guys are [bleep] with me a little bit. Not at all. So has somebody stolen from you guys . No. Illegal activity . No, absolutely not. Are you guys taking money out that youre not supposed to . No. Im getting the feeling that tom knows something he doesnt want to say in front of nancy. Nancy, can you give us a minute, please . Mmhmm. Im hoping that a oneonone will get me the answers. Tom, if its not illegal, whats your concern . Um, ive tried to explain about the difficulties nancy and i have had trying to run this business, and its just been the past couple of months where weve actually been able to even be in the same office together. Whats going on between you guys personally doesnt show up in revenue. Sure. It doesnt show up in cost of goods. Yeah. It doesnt show up in the expenses. So how does it tie to the net income . I dont think you fully grasp the seriousness of the situation here between nancy and i. You show me 2012, and its half. Marcus, listen, i have to hide money from nancy. Uhhuh. Listen, i was locked out of the bank account at one time. Shes president. She took me off the bank account. So then you do more than 4 million . Yeah. The breakup was not a pleasant one, so i do have to do secret stuff from time to time. She [bleep] held me hostage. My boat was taken, my r. V. My home in st. Pete beach was taken, so all those were gone. I dont want to rehash all this stuff with her, because even though its not civil, for the first time in 2 1 2 years, nancy and i can have somewhat of a conversation. I understand. Ive seen this before. Any time you have a relationship go bad, theres trust issues, and they start hiding information and money from each other. And while i understand why tom may have thought it was a good idea, its toxic for the business. You wouldnt be the first person to do that. Sure, i understand that. But its got to stop. Lets go, come on. Now, get over here. Hey, guys. Ive asked tom and nancy to meet me in waycross. Hey, marcus. Good to see you again. Theyve never done an inventory, and thats a problem. The main point and the main reason that you do inventory is to know what cash left the system and whats still here, cause this is essentially a bank account, right . Sure. And so you said there was how much in inventory in total . Probably 100 grand. Understanding how much money you have invested in Raw Materials is the same as understanding how much working capital you have to run the business. So i brought in an inventory audit team. I wanted them to tell me what was really on the ground. Tom and his team are from w. I. S. , and they go around and they really do a lot of inventory audits. So, do you have any reports for me . You know, we dont have. Do we have a person whos responsible here, in this location, for inventory . No. Well start up here. Do you have a sheet saying, like, what you have, what youve used . Do you have a system in place to putto do that . You dont useoh, okay. The inventory is so scattered and the audit team is having a hard time finding it. Where are all the cabinet parts . I have no idea. Um. More importantly, the waycross team doesnt even know where it is. Yeah. I mean, why is there stuff everywhere . Is all this garbage . No. No. And then what about all these out here on the side of the building . Understanding the inventory and monitoring it prevents us from losing hundreds of thousands of dollars a year because things dont get broken and rot on the side of the building. Hey, guys. Rodney wanted to give you guys an update. Okay, guys. Marcus, to be honest with you, this is one of the worst inventories ive seen. Right now, the p. O. S are given, but theyre not matched up to a packing slip. So you guys are ordering parts, and when the parts come in, youre not actually accounting for those parts when they actually come in. The items back there, they didnt have part numbers on them. We found that many of the items that represented 30 or 40 count only had maybe 10 or 15 items. You guys said you had roughly 100,000 worth of inventory on hand. Youd be lucky if youve got 20,000 on hand right now. This is a good example of when youre not present in your business, and then when you dont have that process in place, you cant track this. Well, i cant wait till you get in here, marcus. Thats all i can say. I am here. What do you, mean wait till well, good. I cantwell, im waitin ive been to waycross more in the last couple months than youve been. Im just kind of feeling like youre kind of beatin up on us on, you know, the worst inventory, this and that. I myself feel that weve been quite successful with what weve done, and we havent been present. It sounds to me like youre not open to systems. No, im open to systems because every time i turn around, youre telling me how putting something in place to make the business better isnt a good idea. No, i have not said that one bit. But im feeling that. I have to tell you that im sensing its just, like, were still a growing company. Ive seen a lot of businesses over the years, and theyve had great sales, but they dont track their cash and they dont track their financial statements. They dont know how much they make, and they dont know whats leaving, and they go out of business well, we do track our money. But no, you dont track your money. Its nobodys fault but tom and nancy that the place is in the shape its in, but nancy doesnt have the skill of selfreflection or admission of guilt. I think shes so caught up in the fact that shes doing it right and the way she does it is right, and its not a good thing, not for any business. I have to be honest with you, and the difference between you and tom is that tom has put his pride aside and he has said, i want to get better. I guess what it is, i just dont look likekind of looking like we havent, you know, done such a good job. I mean, weve done the best job we could. Go ahead and pat yourself on the back one time. No, i dont need to do that, cause one thing about me, i dont look at myself as one person. I look at myself as about 85. Why . cause each one of them guys out there probably got two to three kids. Theyre all depending on stop giving me lines that you think i want to hear. Oh, so you think everybodys working hard, not just you. I could care less if i get any credit for any of this out here, as long as its moving and going and making money. You dont want any credit . You make it sound like you keep telling me that, werewe do awesome. Were 4 million. Were this, were that. I guess what it is, up until this point. Yeah. Ive been proud of what ive done in business. You come in here and make me feel like a piece of [bleep]. Just like our inventorys off by 80 grand. I would beg to differ on that. Then go out and count it yourself, if im wrong. These people do this for a living, and we want to move forward, and we cant rely on any one person to make sure that happens. Im replaceable, and i can tell you for damn sure, youre replaceable. Whose phone number is tammys . Whose number is this . You want to start airing the dirt, nance . Maybe you shouldnt have been [bleep] some guy in a bathroom. You know what . The deals off. The deals off the World Premiere of trolls world tour. What . What . [ gasps ] is now in your home. Pinky promise. A pinky promise. Dang. All the way out here just for a blurry photo of me. Oh, thats a good one. Wait, whats that . Thats just the lowbattery warning. Oh, alright. Now its all, check out my rv, and, lets go fourwheeling. Maybe theres a little part of me that wanted to be seen. Well, progressive helps people save when they bundle their home with their outdoor vehicles. So theyve got other things to do now, bigfoot. Wait, whatd you just call me . Bigfoot . My name is daryl. Imagine if we we would be such good friends. Best friends. Advantage ii, kills fleas through contact all month long. I mean hes a wreck without me. Advantage ii, fight the misery of biting fleas. Neutrogena® rapid wrinkle repair®. Weve got the retinol that gives you results in one week. Not just any retinol. Accelerated retinol sa. One week is all it takes. Neutrogena®. And sometimes, you can find yourself heading in a new direction. But when youre with fidelity, a partner who makes sure every step is clear, theres nothing to stop you from moving forward. You come in here and make me feel like a piece of [bleep]. Just like our inventorys off by 80 grand. I would beg to differ on that. I mean, were off. Then go out and count it yourself, if im wrong. These people do this for a living, and we want to move forward. Tom has acknowledged that he doesnt have an inventory process in place, and hes copped to it, but hes willing to make the changes necessary to get it right. Nancy, on the other hand, doesnt want to admit it at all. Its almost like shes allergic to change. Its her way or no way. Ive made the same mistakes. I was a punk kid who thought inventory didnt matter, until my father grabbed me by the hair and said, im gonna teach you how to count 2 million of inventory, and im gonna explain to you why it matters. Because it aint your cash, kid. Its my cash. And so, it aint nancys cash. Its our cash, and i want everybody to have the same respect for the cash. Thats the issue that i have, and so thats why im as intense as i am. Not because i want to chop you down, because i dont want to make the same mistakes. Well, im on board. Theres no question about that. And so, i have some place i want to take you, okay . Oh, im excited. Go ahead and take this bend. Im surprised by how much developments goin on around here. Waycross isin the last five years, has been blowing up. Has it . Its growinoh, yeah. And this is just an old georgia town. Im taking nancy to a house in waycross in a neighborhood that i think shell like. I want her to understand how important it is to her business that she live here. Does your house in tampa look like this . No, i have a beach house. Um, i have a nice house. Is it this nice . No, not at all. Nancy. Mmhmm. You want to know why i brought you here . cause ima be able to buy this house in about five years after doing business with you . Uh, youre gonna be able to buy it now. Its only around 250,000. Really . In order to be in this business, you have to live here. [sighs] you have to live in waycross. You have to live where the business is. I showed you, today, examples of if youre not where the business is, things happen. Inventory isnt counted right. You cant get the books and the records right. And a lot of it is because youre not actually there. And so everything needs to consolidate, and that includes you. Thats not something ive really considered or thought about. Moving to waycross, not something youve thought about . Mmmm. It doesnt make sense to me that you dont think its important to be where the business is. Mm, im not sure. I do love the beach. But the beach isnt where we make trailers. Butexactly, thats not my business. Do you believe that if you lived in waycross and you went to the office every day, it would be a more successful business . Waycross is a nice place, and so yes, shes not gonna be able to lay on the beach every day. Shes not gonna be able to go shopping in whatever district in tampa she goes shopping in. And maybe the restaurants are a little different. But shes the business owner, and she needs to be where the business is. Those people need leadership and they need supervision. Whats up with tom . Tom says hes willing to move. I cant imagine, in a million years, that tom would move to waycross. He likes the city life, and he likes the rolexes, and he likes to be a big shot. You think he was lying . He does that a lot, so he does lie a lot . Oh, god. Has he been lying to me . Oh, no, im just saying that i would believe it when i see it. And wahis girlfriends there . Where . In tampa . Oh, i dont know. Im the type, i dont do any drama at all. Yeah. Tom was justtook advantage of a situation. He wouldve hooked up with anybody. Like i tell him, hed have hooked up with a girl that had no teeth and whatever if shed have came onto him, cause he knew that would never, everhe would never, ever have a chance with me again. Youre a [bleep] scammer and a liar, [bleep for a minute, shut up what does it mean to be a Good Neighbor . It means being there for each other. Thats why state farm is announcing the Good Neighbor Relief Program we know our customers are driving less, which means fewer accidents. So state farm is returning 2 billion dollars to auto policyholders for the period ending may 31st. And well continue making real time decisions to best serve you our customers. Because now, more than ever, being a Good Neighbor means everything. Like a Good Neighbor, state farm is there. Being a Good Neighbor means everything. Ok so, magnificent mile for me. I thought i was managing my moderate to severe Crohns Disease. Until i realized something was missing. Me. You ok, sis . My symptoms were keeping me from really being there for my sisters. announcement final boarding for flight 2007 to chicago so i talked to my doctor and learned humira is for people who still have symptoms of Crohns Disease after trying other medications. And the majority of people on humira saw significant symptom relief and many achieved remission in as little as 4 weeks. Humira can lower your ability to fight infections. Serious and sometimes fatal infections, including tuberculosis, and cancers, including lymphoma, have happened, as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. Tell your doctor if youve been to areas where certain fungal infections are common and if youve had tb, hepatitis b, are prone to infections, or have flulike symptoms or sores. Dont start humira if you have an infection. Be there for you, and them. Ask your gastroenterologist about humira. With humira, remission is possible. And look, it feels like im just im sewasting time. Nfo on options trading, thats why Td Ameritrade designed a firstofitskind, personalized education center. Their awardwinning content is tailored to fit your investing goals and interests. And it learns with you, so as you become smarter, so do its recommendations. So its like my streaming service. Well except now, youre binge learning. For a limited time, get up to 800 when you open and fund an account. Call 8663009417 or visit tdameritrade. Com learn. Puberty means personal space. So sports clothes sit around growing odors. Thats why we graduated to tide pods sport. Finally something more powerful than the funk. Tide sport removes even weekold sweat odor. Its got to be tide. Keeping our customers, employees, and communities safe. During these Uncertain Times we want you to get Great Service without leaving the safety of your home. Shop at sprint. Com for free next day shipping and no activation fees on our best new phone deals, like a Samsung Galaxy phone for just 0 a month. Plus, youll also get a 100 prepaid mastercard when you switch online. Stay healthy and visit sprint. Com to get the services you need. For people with hearing loss, visit sprintrelay. Com hey, tom. Hey, marcus. Hey, you know what i wanted to do, is i wanted to go over that tailgate trailer that you guys were working on. Yes. With the waycross facility getting sorted out, i wanted to head back to tampa to see what tom and nancy were working on. I gave them the task of coming up with a new product, and them working together is important to me. All right, let me pull up the file here. And so did you do the sketches on these . Yeah, i did the sketches on these. I did aa hey, guys. We got to have a little conference here. Hey, do me a favor. Walk through the shop there and grab the guys, okay . Real quick, i want to go ahead and pass this out and let everybody take a look at it, okay . And then were gonna go into some [bleep] right now. You see, this is a Customer Service order. Theres an imaginary tammy that works for this company, in one of our dealers, that he will not allow me to meet. Whose phone number is tammys . Whose number is this on tammys piece of paper. Why dont you call your dealer . Just so we all know, toms girlfriend has been workin in this company for three [bleep] years i have so much proof right here that shes been workin in this company, it is un[bleep]real. This is her cell phonetammys cell phonewhich is your girlfriend. So it is his girlfriend, tammy. This is the number. This is her direct line, period. Tom, is thatdoes she work there . Sure does, yeah. Your girlfriend works for a dealer that sells your product . Thats correct. Shes not allowed to be working anything to do with this company. A dealer who produced half our volume last year. I dont give a [bleep] im realizing, watching tom and nancy go at it, theyre never gonna get over this breakup. You know what, nance . Youveyouve put us in this situation. Take your drama and take it elsewhere. And theyll never stop harboring resentment. You want to start airing the dirt, nance . Maybe you shouldnt have been inat a wedding and [bleep] some guy in a bathroom. There is no way theyre gonna be able to put their differences aside and just focus on business. I cant work with you. You know what . The deals off. The deals off if your business is in trouble and you need my help, log on to theprofitcasting. Com. At tmobile, we know that connection is more important than ever. So were making big moves to help those who need it most. Introducing tmobile connect. A prepaid plan to help keep america connected. Starting at just 15 a month, it gives flexibility for Uncertain Times. Visit tmobile. Com connect to learn more. You can also manage your account, and make payments online. Stay connected with tmobile connect. You about your credit card. So meet eno, the capital one assistant that looks out for charges that might surprise you and helps you fix them. Another way capital one is watching out for your money, when youre not. Whats in your wallet . One is watching out for your money, when youre not. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Once weekly trulicity is for type 2 diabetes. Its not insulin. It starts acting from the first dose. And it lowers risk of heart attack, stroke, or death in people with known Heart Disease or multiple risk factors. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. Dont take trulicity if youre allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. Stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. Serious side effects may include pancreatitis. Taking trulicity with sulfonylurea or insulin raises low blood sugar risk. Side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. I have it within me to lower my a1c. Ask your doctor about trulicity. Toms girlfriend has been workin in this company for three [bleep] years take your drama and take it elsewhere. I cant work with you. The deal is off, because what happened i dont give a [bleep]. Marcus, give me a call when you leave here today. You dont need to threaten me, nance, cause i dont shake because of you. Im not threatening you. You can [bleep] walk around here and intimidate eva and all these other [bleep] people that work here, but you do i intimidate you, eva . Yeah, theyre [bleep] so scared, they wont say a [bleep] word. Bull[bleep]. Everybody [bleep] sees it. I am so good to everybody who works for me. Whatever. This is why im gonna pick my [bleep] up and go home. I dont have to listen to this [bleep]. Good, cause youre a [bleep] scammer and a liar, [bleep]. Gut liquidate this company and go start your own place . No, the bottom line is, is that im not liquidating anything. But i invested 1 2 million in this company. I shouldnt have to be dealing with somebody like him. Nancy, tomguys, shut up for a minute, shut up cool your jets for a minute. This is fine . Why would you bring your employees in here to witness this . Because i want them to understand whats been goin on as well. How does all this stuff you just talked about do anything to help you sell more trailers . It doesnt. But what im saying is that it shows that he is underhanded. And how can i make this company grow, grow, grow when im dealingi mean you have bigger issues than that. No, i have no issues. No, nancy, you do. When i came to worldwide trailers, i was really excited about the product and where i could take this company. I thought i can get tom and nancy to put their company first, but obviously, thatll never be the case. The thing is, hes got to just be up on up. Nancy, i canti cant do business with you guys. I cant do business with you guys. Well, when you want to do business, give me a call. Thats all right. I mean, as far as that goes, theres othertheres other people. I have a backup plan, so these two cant be my partners, because a good partner would have their priorities in order, and that will never be tom and nancy. Im out. I still love you, though, marcus. Can we go out on a date now . [bleep] you. Across this country, Small Businesses are closing their doors, killing dreams and costing tens of thousands of jobs. Im here to fix this business. My name is marcus lemonis. In the past ten years, ive bought hundreds of failing businesses, turned them around, and ive made millions doing it. Ill write whatever check i need to, even if you wont. If you want people to listen, you put money on the table. Im gonna give you a check for 500,000. I found six struggling businesses, some weeks away from closure. My plan is to turn them around. For the next week, im 100 in charge. All right. Lets go get to work. Cant run a business if its not clean