Swanson's Fish Market - The Profit Season 2 Episode 1. Marcus Lemonis Vs Swanson’s Fish Market.

The Company: Swanson’s Fish Market. The Owner(s): Gary Swanson Jr. This Fairfield institution founded over 4. With moral at all- time low, the owners are struggling to keep the business running and Marcus is here to find out if that’s possible. Specializing in fresh fish, catering and hot soups, Swanson’s Fish Market was a thriving stable business providing a good life for owners Gary Swanson Jr and wife Sue. That is until July 4th 2.

Not only did the business lose income for an entire year, the Swansons lost a good portion of their customer base. When the store finally reopened a year after the fire, Gary found himself over $9. Sue is so demoralized by this that she started spending less time at the store forcing their daughter Larissa come home to work and help pick up the slack. With their financial situation at an all time low, Swanson’s Fish Market is running out of time and look up to Marcus to help get them out of trouble. Marcus believes that with a direct injection of money and with a small change in the business model, Swanson’s fish market can once again become the big fish of the community. Episode Main Review. Marcus Lemonis arrives at the Swanson’s Fish Market business location and immediately likes what he sees.

The business is located on a very busy road, in a beautiful building with two other businesses beside and this is good. He walks into the shop and meet Spencer the business manager. Marcus quickly finds out that the shop is not fully stocked and clients are finding it hard to get some products simply because sometimes there is no inventory.

Speaking to one of the employees, Marcus finds out that the financial situation is so bad that most times the employees had to wait for their paychecks and incredibly, sometimes they have to pitch in a couple hundred bucks to help in acquiring inventory for the business. Mark was finally meets Gary Swanson Jr. Swanson’s Fish Market total loss due to the fire was $1 million but the insurance company paid $1. There is a current mortgage on the property in which the business resides around $3. The other businesses located beside Swanson’s Fish Market are tenants of his and pay a rent of around $3. Swansons fish market and even generate an income of $2.

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Gary tells Marcus that the most profitable part of the business is prepared foods. Swanson’s Fish Market sells around $1. They also sell around $1.

Marcus find out that the costs of running the business on a monthly basis is around $1. Based on this calculations, Swanson’s Fish Market should generate around $6. But this is not the case as Gary confesses that the business has a lot of outstanding debts owed to people he borrowed money from, loans as well as contractors and vendors. Marcus just doesn’t understand how the business makes so much profit and yet the money is nowhere to be found. The numbers don’t seem to be adding up correctly. So in the next scene, Marcus takes the soup tour to taste Swanson’s prepared foods.

He is really interested in expanding the prepared foods part of the business since it generates more than double the gross profit of fresh fish section. Especially since most of the clients enjoy the prepared foods and soups and wish Swanson’s would open a restaurant. In the next scene, Marcus meets Larissa, Gary’s daughter and finds out that she left a good paying job to come and work in the family business that she lives 1 hour away from. Next Marcus meets with Sue, Gary’s wife and she tells him that the way the books are currently being done is driving her crazy. She says the business struggles to pay its vendors, she is behind on mortgage at home and her phone gets frequently disconnected by Verizon. The financial situation looks very tight.

Marcus reassures her and tells her that as long as the business has the amount of clients they have currently, they just have to find out the way to squeeze out a profit. So Marcus brings the family together to speak about the current financial situation and find out that the Swanson’s Fish market has already had a fire in a warehouse which took around $3.

The insurance paid them $2. If you add all the insurance payments for both fire damages all up, we quickly found out that Gary got in excess of $3. Marcus just can’t understand why the business has financial troubles now.

The family also tells Marcus that wife Sue left all the burden of the bookkeeping on daughter Larissa so Marcus asks her if she will dedicate more time to help the business and she says yes. Marcus gets a spreadsheet detailing all the debts of the company and is shocked to find out how a company that got fresh start from the insurance payment just a few years ago, could be over $9. Here below is the list of the most important debts owed: Well we soon find out that money is leaving the business for private purposes like paying for the house bills/needs and to run expensive cars like wife Sues BMW.

This is specially disgraceful for a company that can hardly pay its vendors or employees. On paper the company makes quite a healthy profit, but in reality, there is a lot of sticking hands in the till and these results in the loss the company is making. Problems/Issues In The Business Found By Marcus.

Total lack of accountability from the owners of the business. Too much debt. Mixing private and business expenses together.

Emotional instability in the family. Fuzzy business numbers.

Sue’s lack of determination to see the business survive. The Deal. So Marcus sits the family down to discuss the potential to help save the business. Showtime Full Brief Reunion Online Free. He is however worried of the business numbers and is not ready to invest in the business if that is not cleared up.

Marcus however is ready to put up $1 million investment to buy the building from the Swansons which will allow the company to get rid of all its debt and own 1. Marcus becoming the landlord.

Gary says no, he is not interested in selling the building and feels that giving up the building will be a mistake. Marcus offers to sell them back the building at a future date when Gary is ready to get back the building or decides to sell the business. Gary is very interested in this and the deal is done. He asks Marcus when does the deal be finalized and Marcus brings out his checkbook and signs them a million dollars on the spot like a boss.

This check however goes into escrow until Marcus’ attorney do their due diligence on the business and building. If the due diligence goes through, then the money goes directly to the bank to get the debt paid off and to everyone owed money by the Swansons. Only then will the Swansons be able to get whatever is left which will be a bit more than $1. This ensures Marcus that there is no fuzzy business and no risk to his investment. Solutions Suggested/Implemented by Marcus To Improve The Business. Fix the business process.

Focus more on the prepared foods part of the business. Take advantage of the shop’s square footage to make the most revenue. Negotiate on debt repayment to get a reduction. Bring in new equipment to replace the old unused units. After The Deal. Sue however is nowhere to be found and not responding to the phone when called.

We start to see that she is just not motivated to help run the business to succeed. She walks in a couple of minutes later and says that yes she is motivated to help time around the business.

We will see how true that is. In the next scene we find out that Black Rock Cafe, one of the current renters in the Swanson’s business building is falling behind on payments and has racked up over $1. Since the owner of Black Rock Cafe has a 7.

Swanson has the right to collect on personal assets to recover its rent if the owner fails to pay up. Marcus however decides to speak to the business owner and see if they can come to an agreement to use the bar as a mini grill for Swanson’s fish market prepared foods. This is the true genius of Marcus Lemonis, he always finds a way to make things work.