I cant give you exact numbers because ive been ana listen, guys. I cant give you exact numbers. This is just me. Lemonis im not going to write a check for somebody i havent been great at, you know, just doing all this, that doesnt have their [bleep] together. I wont do it. You know, perfectly financial things, and hes wincing, and im sorry. Im marcus lemonis, and i risk my own money to help businesses. But im not going to lie to you, either, because, you know, i have to be honest. I love investing in american businesses. Woman these people are here because they care. Lemonis i told her that if other people didnt buy lemonis its not always easy, but i do it to create jobs, into what she was doing, i wouldnt move forward, and right now, nobody in the room is buying off on this. And i do it to make money. Do we have a deal . Lets rock and roll. Man yeah what i thought we could do now, this is where its a little awkward, but id like lemonis this is the profit. Ana this is a little awkward now . Lemonis no, what were going to do now. Ana okay. Because its been awkward the whole time. [ laughter ] lemonis not for me. Im fine. I was contacted by a miamibased former lawyer ana i just dont youre right. Of course. Lemonis what id like you to do is go around the room. Named ana quincoces. She has a marinade and Sauce Company called skinny latina. We want to understand from people, would you invest in this Company Based on this presentation . Ana started the business 6 years ago, but so far, its a yes or a no. Ana based on my presentation, would you invest in my product . She hasnt been able to make the brand bigger than a regional product. Man 1 yeah, i dont think so. Man 2 uh, no. The sauce and marinade industry is a gigantic opportunity, ana no . Man 3 no. Ana no . Man 4 no. Ana no . Woman 1 no. But i have two primary questions. Number one what makes this sauce stand out in a crowd . Woman 2 no. No. Man 5 no. Lemonis okay. And number two is this a real business, so, if you asked the question differently and said, or is this just a sidehustle . Woman Everything Else was on top of it, right . Take the numbers out of the equation, for the barbecue. Lemonis hi, everybody. Ana of course i would meet you with this on. Would you invest in me and the product . Lemonis thats all right. How are you . Im marcus. Ana okay. Paul, would you invest in me and the product . Nice to meet you. Paul yes. Ana yes. All right, so, i want to go through the process of how its made. I would love to understand it. Would you invest in me and the product . Woman 3 yes. Man 6 yes. Ana yes . Man 7 yes. Can you take me around . Ana yeah, sure. Ana yes . Man 8 yes. Lemonis got to love hair nets. Ana yes . Man 9 yes. Ana really . Yes. Woman 4 absolutely. I actually was going to rock this tonight at the club. Man 10 its be a yes with some conditions. Ana yes. Lemonis okay, so, what okay, but what is the difference woman so, were constantly cooking it and then pumping it into this kettle. Between the noes and the yeses . We label it, we seal it, coat it, fill it. Ana the fact that i wasnt solid on my numbers. Lemonis okay. I did like the fact that it was lemonis people in the room were excited by what was there a smallbatch manufacturer. Its almost like craft brewing. The fact that she was in publix, the fact that they liked the way it tastes. Sometimes, the smaller it is, maybe even the better it is. She had had a lot of success, but what people kept saying and is there only one recipe . To her is the same thing im saying ana no, i have four skus. When you get your numbers together, this is the flagship recipe, the Million Dollar marinade. Well take a look at it. Then i have a guavafig barbecue sauce, the one thing that i thought you did really well today is and a mangoapricot barbecue sauce, and a hot sauce. For the first time that weve been together, you didnt judge anybody that was asking you questions, its a flavorenhancer, and its not only a marinade. It basically a cooking sauce, so you can use it on everything. And that, to me, was the biggest win. You can grill with it. You can roast with it. You can add it to soups and stews. I feel like weve made progress, but in terms of me investing right now, im not there yet. Lemonis how did you come up with the idea . Ana okay. Im okay with yet. Ana im cuban, so for cubans, the mois, like, thats cuban ketchup, right . Lemonis yeah . Lemonis well. Thats good. Ana we put that on everything, and, so, i started making one, and then friends started asking me for it. And i was like, maybe i should bottle this. I assigned ana a variety lemonis are you a chef . Of things to do while i was gone. Ana well, im not a chef because i went i want her to work on refining the packaging with black dog, to the Culinary Institute of my mom, like, you know . And i really want her to get to a conclusion but im as much of a chef that everybody can live with, including her. As most of the people on food network. Ive written three cookbooks, and ive competed on food network. I also want her to go back to the drawing board and if you ask bobby flay, the greatest cook ever. And start working on her numbers to put the forecast together lemonis okay. To get the margins right so that she is dialed in. Ana when the second book came out, they had done this big thing in the miami herald about my new book, so i started getting, the last thing i want to do before we move forward like, calls for endorsement deals and things like that. Is to have ana submit her product to a food lab and i got called to do real housewives of miami. Because in order for me to invest or for me dont hold that against me. To be comfortable with being associated with it, i want to know that everything thats in the bottle lemonis so, you were on real housewives of miami . How many seasons . Ana yeah, for two seasons. And on the label is factually correct. Im a terrible housewife because, to me, man the nutritional content, caloric content was 18. 5. Everything is attorneyclient privilege, so i dont perpetuate rumors. So, no, it didnt work for me. Lemonis so, the Million Dollar marinade . Lemonis okay. Man it tested negative for the presence of soy, howd you come up with that name . Ana i dont know. It rolls off the tongue. And expressed to gluten is less than 5 ppm. Lemonis whats funny about it is lemonis so, it would qualify. . You told me a lot of Different Things about it. Man as glutenfree. Lemonis well this is great. Ana yeah . Lemonis it does this. Now i feel more legitimate. It could do that. It could do this. It could do that. How do i know that . Ana you dont. Lemonis because Million Dollar sauce is, like, i dont does it cost a Million Dollars . Am i going to feel like a Million Dollars . Ana yeah, its going to get you the accolades, ana hi, how are you guys . Mike how are you . And youre going to feel good. Ana nice to meet you. Mike hi, mike. Lemonis my First Impression of the bottle itself isnt great. Lemonis contemporary marketing is a company this wouldnt exactly catch my attention. That i use to launch products to market. If ana can land this meeting where do they go from here . Ana the distributor picks them up and takes them. And have contemporary agree to rep her marinade, im in publix, whole foods, milams, shell have exposure to Grocery Stores across the country. And then im at fresh market. Lemonis just in the florida market . South florida . Not selling 100,000 bottles, ana yeah. Lemonis whats the price point . She has the potential of selling a million bottles. Ana publix has it at 4. 99, ana okay. So, four skus of a brand called skinny latina, fresh market has it at 5. 49, and whole foods has it at 5. 99. And theyre marinades and sauces. Lemonis how many bottles a year are you actually producing . Lemonis i connected her with a Marketing Agency in south florida that worked on a rebranding, ana a lot, but not a lot. And id like her to show you where were thinking about going. I mean, it depends what a lot is. Lemonis like, 10,000 bottles . Ana more. This is what is and what its transformed into. Maybe somewhere around 20,000 . Lemonis i never expect, on the fly, for a Business Owner man all of them pop better. Mike yeah, thats weak. To have an exact number, thats confusing. But how many bottles did you sell . I mean, this clearly states the brand and the product. Shouldnt have a range of 10,000. 10,000, maybe 20,000 . Can we get a little closer to the actual number . You know, the hot sauce, the barbecue sauce, the marinade. M how long has the company through your numbers so they can understand the financials actually been bottling and selling . Ana 2013, i think, was the first. To understand how strong the business is. Ana so, in 2018, our total revenue was 94,824. 80, lemonis so, its been a while. Ana i know. I think i havent grown it like i should have because i didnt want to put the company in debt. Which left us a gross profit of 35,056. 03. Lemonis how much money have you invested . I sell all three of these products for 3. 30 a unit. Ana probably around 50,000. Lemonis okay. A bottle of marinade from the copacker costs me how many employees do you have . Ana everyones parttime. Lemonis no fulltime employees . 1. 91, including labels and costs, ana no. And i just moved to an office, like, two weeks ago. And the margins on this is 42. 12 . Lemonis and, so, the only thing you do today to make money the barbecue sauces, the mango, its 1. 72 to make it, is the sauces and appearances. So its 47. 88 . Ana and endorsement deals and, you know, whatever my books lemonis the way that youre speaking about your margins you know, books dont make a ton of money. And the costs, youre like a whole different person. Lemonis i like the fact that ana has real skin ana thank you. So, is this something in the game, 50,000. You guys would consider taking, skinny latina and me on thats doesnt include the amount of money she passed up on by not being a lawyer. As a customer and helping me grow this thing . Shes really committed to this. So, i want to take you to my friends place, mike we definitely would. Woodpecker in st. Augustine. Lemonis well see if ana if skinny latina has legs. Ana yes. Mike yeah. Ana thank you so much. That really means a lot. Lemonis so, ill see you there. Ana okay. Lemonis i was stunned by this meeting her professionalism, the presentation of the new branding, the quality of Financial Data that she brought. I was even wondering if it was, like, an ana impersonator. This place is so neat. Awesome job. Ana i had a positive attitude, and it went well. Lemonis [ laughs ] whats up, hot stuff . Lemonis you get a high five on that one. You did it. Im proud of you. Lisa there you are. So good to see you. Very proud of you. Ana thank you. Lemonis did you get dolled up for me today . Lisa i did. You look so good lemonis i want you to meet my friend, ana. Lisa hi, ana. Ana hi, nice to meet you. Lemonis my friend lisa. Lisa nice to meet you. Ana he has said such nice things about you. Im ready to sit down with ana lemonis so, shes got some sauces and marinades. And really consider doing a deal with her i know they sent them to you . Lisa yes. Yes. Because i feel like shes done every single thing lemonis did you have a chance to marinate anything . That ive asked her to. Lisa we did. Lemonis in order to really how are you . Ana im good. Understand the marinade better, lemonis good to see you. I asked lisa to marinate something overnight and while she maybe rolled her eyes a few times or pushed back, and cook it so that when i got there, in the end, she made the changes. We can actually get right down to business. She made the progress. She deserves a shot. Are you the smokemaster . Joe yes, i am. So, one of the things that i said to you was, lemonis okay. All right. Lets dig in. Lemonis what should we try first . Through this process, is if you can get somebody else to invest, ill invest. Im going to follow your lead. Joe why dont we start with turkey . Ana yeah. Right. Lemonis so, hows that working . Ana its really good. Lisa that is good. Ana its working okay. I mean, theres somebody here that wants to meet with us. Lemonis who wants to try a few ribs that are marinated . Ana come on, guys. Try it. Lemonis one of the people that ana invited to her Investor Conference a few weeks ago lemonis everybody, come on down. Lisa dont be shy. Come on. Lemonis what do you think . Was her friend, nick molina. Man theyre very good. Lemonis its good, right . Ana hi, nick. Thanks for coming. Nick hi, how are you . Man yeah. Woman fabulous. Lemonis nick, how are you, sir . Nick good to see you. Lemonis nick is miamibased and has a track record joe this one is injected and rubbed. Of successful startups. Lisa mmm, now thats got a nice flavor. This is a real serial entrepreneur. Im curious to see if ana can actually negotiate ana come on. Lisa its fingerlicking good. Lemonis it actually is pretty good. With the both of us. Lisa mike, what do you think, babe . Ana so, weve already talked about the possibility lemonis hes busy. Hes like, dont be bothering me. Lisa may i chime in . Lemonis please. Of nick investing. Lemonis yeah . Lisa if i put in my barbecue, and i said, ana so, do you think you want to invest in my business. Im introducing my ribs with skinny latina, nick well, i mean this in the nicest way, all my men that come in here, but i think you need me to be honest with you. And some women who are meat eaters, theyre going to go, not for me. Youve got a great product. You cant say skinny and ribs. It just doesnt work. I think i can add a tremendous amount of value. Theyre going to think, all of a sudden, ana my next concern is, like, numbers and percentages, and well, its going to taste lowcal. Not going to be good. You need it to be, like, some beefy latina lemonis well, lets back up for a second. Whats the Company Worth in your mind today . No, just kidding. Ana but people are buying it, marcus. Lemonis well, theyre not, or i wouldnt be here. Ana skinny latina is worth 500,000 typically, celebrityendorsed products have great branding, based on five times revenue, but the product itself isnt that great. Which last year was close to 100,000. In the case of skinny latina, the product itself is spectacular. Lemonis a half a Million Dollars . The branding, not so much. Ana yeah. Theres risk for everybody here, marcus. Why dont you and i go somewhere else, and well dig into the financials. Ana okay. Lemonis okay . All right. Great. Lemonis not for me. I havent written a check yet. Ana we need to do a rebranding. We need to do a full rollout, but lemonis the first amount of money needs to go into what . Ana so. Okay. Ana into inventory. Lemonis okay, great. So, start there. Lemonis thank you so much. Woman welcome. My pleasure. Ana i dont think 75,000 is enough money. Lemonis that is the best youre going to get from me. Lemonis so, what financials do you have . Ana just 2019. Lemonis so, you dont have financials from 15, 16, 17 . Ana i didnt have time, and i didnt think it was lemonis you know that thats not going to fly with me. Ana no, i know, but it wasnt making enough money to, you know, warrant the time and lemonis think about it do you know how much revenue you did in the last 12 months . Ana yeah, like 2019, so far, is 41,000. Lemonis okay. Lets just back up here for a second. The cost of the product, raw cost today, 1. 96 for the marinade, 1. 71 for the guava barbecue, 1. 63 for the mango, and then the hot sauce has not yet been returning. Ana not yet, because im working on it. Lemonis but, again, that doesnt include the labels. 14 cents apiece . Ana what, do you have a better label . Lemonis its a sticker. Where are the financials, on a different page . Ana i have no financials. This is all i have. Lemonis okay, well the minute you start a business, its important to start keeping good financial records like how much revenue you do, what your margins are, what your expenses are, are you making a profit or not. In order for you to grow your company, you have to make decisions based on facts, not your gut. Okay, so, lets put the papers away for a minute, and lets just assume that theres not much revenue. Ana no, yeah. Lemonis so, am i supposed to be excited by that or petrified . Ana excited because you know what . Youve got the benefit of my experience, and ive never lost money. Theres always been a profit margin, 30 , 40 . Places like costco are calling. I dont owe anybody money. I dont have partners. Lemonis which is awesome, yeah. Ana i mean, theres some value in that. Lemonis mmhmm. Yeah. Ana its hard for me to that this isnt further along given that ive given up so much for it. Lemonis what do you think youve given up . Ana relationships. Lemonis you feel like you chose this over personal relationships . Ana yes, im going to be crazy cat lady. Im going to have 15 cats, be in a ratty bathrobe, surrounded by my skinny latina empire, you know . Lemonis this is that important to you . Ana cause i dont know. I just believe in it. Lemonis you believe in what youre doing. That definitely counts for something. Ana yeah. I need you to help me think big and help me get to the next level. Lemonis the challenge is i dont know what im investing in because theres no financials, and theres no real revenue, and i dont know what ana i mean, its not real revenue to you. Lemonis its not real revenue because its not on paper because you cant show it to me. So, its phantom, but i know the proof of concept is there. This is one of the rarest occasions where somebody has an amazing product, but they dont have all the other Building Blocks around it to give me or any other investor the confidence to move forward. I want to help her, and i eventually hope to be able to invest, but i feel like, in this moment, it would be irresponsible for me to do so. For Something Like this thats a startup, i think the Company Needs a couple hundred thousand dollars, just to get it moving, right . And im willing to put in a portion of that, but not by myself. I think i need more people in the boat than just you and just me. How many people have you talked to about investing in the business . Ana nobody. Lemonis never . Ana no. Lemonis not one time . Ana no. Lemonis why not . Ana i didnt want them. Lemonis why . Ana because they wouldnt be silent partners. Lemonis numberone rule in negotiating . Know your audience. Lemonis a half a Million Dollars . Silence . Yeah, thats not going to be me. Ana yeah. Theres risk for everybody here, marcus. Ana its just more opinions and more stupid people that dont know anything about this, lemon