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1
00:00:00,400 --> 00:00:02,868
Lemonis:
Tonight on "the profit,"
2
00:00:02,870 --> 00:00:04,870
I meet a spicy former lawyer...
3
00:00:04,872 --> 00:00:07,172
Ana: I got called to do
"real housewives of miami."
4
00:00:07,174 --> 00:00:08,707
don't hold that against me.
5
00:00:08,709 --> 00:00:10,376
Lemonis: ...With dreams
of a marinade empire.
6
00:00:10,378 --> 00:00:12,011
Ana: It's not only a marinade.
7
00:00:12,013 --> 00:00:14,179
It's a flavor-enhancer
so you can use it on everything.
8
00:00:14,181 --> 00:00:16,749
Lemonis: Despite having
a product people love...
9
00:00:16,751 --> 00:00:18,350
Woman: Mmm,
it's finger-licking good.
10
00:00:18,352 --> 00:00:19,752
Lemonis:
It actually is pretty good.
11
00:00:19,754 --> 00:00:21,754
...Her business has been
struggling to grow.
12
00:00:21,756 --> 00:00:23,756
Ana: [ voice breaking ]
it's hard for me that this
13
00:00:23,758 --> 00:00:27,192
isn't further along given that
I've given up so much for it.
14
00:00:27,194 --> 00:00:28,694
Lemonis: To grow this company,
15
00:00:28,696 --> 00:00:30,696
she's going to need
to change her branding...
16
00:00:30,698 --> 00:00:32,197
John: You have an illustration
17
00:00:32,199 --> 00:00:35,934
that is almost
exactly like skinnygirl.
18
00:00:35,936 --> 00:00:37,703
Lemonis: ...Learn how
to take some criticism...
19
00:00:37,705 --> 00:00:39,204
Kathleen: What did you write?
Aaron: Skanky.
20
00:00:39,206 --> 00:00:41,040
Her, she takes
over the whole image.
21
00:00:41,042 --> 00:00:42,674
Ana: Do you really, like --
22
00:00:42,676 --> 00:00:45,577
what else do you want me
to put on the label, you know?
23
00:00:45,579 --> 00:00:48,013
Lemonis: ...And most of all,
learn her numbers.
24
00:00:48,015 --> 00:00:50,249
Ana: Listen, guys.
I can't give you exact numbers.
25
00:00:50,251 --> 00:00:51,950
Lemonis: I'm not going to write
a check for somebody
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00:00:51,952 --> 00:00:53,452
that doesn't have their [bleep]
together.
27
00:00:53,454 --> 00:00:57,589
I won't do it.
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00:00:57,591 --> 00:01:01,693
I'm marcus lemonis, and I risk
my own money to help businesses.
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00:01:01,695 --> 00:01:03,896
I love investing in
american businesses.
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00:01:03,898 --> 00:01:06,031
Woman: These people are here
because they care.
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00:01:06,033 --> 00:01:09,435
Lemonis: It's not always easy,
but I do it to create jobs,
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00:01:09,437 --> 00:01:10,903
and I do it to make money.
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00:01:10,905 --> 00:01:12,137
Do we have a deal?
Let's rock and roll.
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00:01:12,139 --> 00:01:14,773
Man: Yeah!
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00:01:14,775 --> 00:01:17,242
Lemonis: This is "the profit."
36
00:01:17,244 --> 00:01:23,649
♪♪
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00:01:23,651 --> 00:01:26,585
I was contacted by a miami-based
former lawyer
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00:01:26,587 --> 00:01:28,387
named ana quincoces.
39
00:01:28,389 --> 00:01:31,390
She has a marinade and sauce
company called skinny latina.
40
00:01:31,392 --> 00:01:34,593
Ana started the business
6 years ago, but so far,
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00:01:34,595 --> 00:01:36,662
she hasn't been able
to make the brand bigger
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00:01:36,664 --> 00:01:38,464
than a regional product.
43
00:01:38,466 --> 00:01:42,835
The sauce and marinade industry
is a gigantic opportunity,
44
00:01:42,837 --> 00:01:45,137
but I have
two primary questions.
45
00:01:45,139 --> 00:01:48,140
Number one -- what makes
this sauce stand out in a crowd?
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00:01:48,142 --> 00:01:49,908
And number two --
is this a real business,
47
00:01:49,910 --> 00:01:51,977
or is this just a side-hustle?
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00:01:51,979 --> 00:01:53,512
Woman: Everything else was
on top of it, right?
49
00:01:53,514 --> 00:01:55,614
For the barbecue.
Lemonis: Hi, everybody.
50
00:01:55,616 --> 00:01:57,282
Ana: Of course I would meet you
with this on.
51
00:01:57,284 --> 00:01:59,418
Lemonis: That's all right.
How are you? I'm marcus.
52
00:01:59,420 --> 00:02:00,853
Nice to meet you.
53
00:02:00,855 --> 00:02:02,354
All right, so,
I want to go through the process
54
00:02:02,356 --> 00:02:04,523
of how it's made.
I would love to understand it.
55
00:02:04,525 --> 00:02:06,425
Can you take me around?
Ana: Yeah, sure.
56
00:02:06,427 --> 00:02:08,827
Lemonis: Got to love hair nets.
57
00:02:08,829 --> 00:02:12,531
I actually was going to rock
this tonight at the club.
58
00:02:12,533 --> 00:02:15,000
♪♪
59
00:02:15,002 --> 00:02:16,468
woman:
So, we're constantly cooking it
60
00:02:16,470 --> 00:02:18,303
and then pumping it
into this kettle.
61
00:02:18,305 --> 00:02:21,106
We label it,
we seal it, coat it, fill it.
62
00:02:21,108 --> 00:02:23,108
Lemonis: Okay.
I did like the fact that it was
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00:02:23,110 --> 00:02:24,343
a small-batch manufacturer.
64
00:02:24,345 --> 00:02:26,145
It's almost like craft brewing.
65
00:02:26,147 --> 00:02:30,015
Sometimes, the smaller it is,
maybe even the better it is.
66
00:02:30,017 --> 00:02:31,650
And it there only one recipe?
67
00:02:31,652 --> 00:02:33,385
Ana: No, I have skus.
68
00:02:33,387 --> 00:02:36,388
This is the flagship recipe,
the million dollar marinade.
69
00:02:36,390 --> 00:02:38,991
Then I have a guave-fig
barbecue sauce,
70
00:02:38,993 --> 00:02:41,660
and a mango-apricot
barbecue sauce, and a hot sauce.
71
00:02:41,662 --> 00:02:43,829
It's a flavor-enhancer,
and it's not only a marinade.
72
00:02:43,831 --> 00:02:46,999
It basically a cooking sauce,
so you can use it on everything.
73
00:02:47,001 --> 00:02:48,901
You can grill with it.
You can roast with it.
74
00:02:48,903 --> 00:02:52,838
You can add it
to soups and stews.
75
00:02:52,840 --> 00:02:54,573
Lemonis: How did you come up
with the idea?
76
00:02:54,575 --> 00:02:57,075
Ana: I'm cuban, so for cubans,
the mojo is, like,
77
00:02:57,077 --> 00:02:58,977
that's cuban ketchup, right?
Lemonis: Yeah?
78
00:02:58,979 --> 00:03:02,147
Ana: We put that on everything,
and, so, I started making one,
79
00:03:02,149 --> 00:03:04,082
and then friends started
asking me for it.
80
00:03:04,084 --> 00:03:06,652
And I was like,
"maybe I should bottle this."
81
00:03:06,654 --> 00:03:08,020
lemonis: Are you a chef?
82
00:03:08,022 --> 00:03:10,055
Ana: Well, I'm not a chef
because I went
83
00:03:10,057 --> 00:03:12,324
to the culinary institute
of my mom, like, you know?
84
00:03:12,326 --> 00:03:14,159
But I'm as much of a chef
85
00:03:14,161 --> 00:03:16,195
as most of the people
on food network.
86
00:03:16,197 --> 00:03:17,863
I've written three cookbooks,
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00:03:17,865 --> 00:03:19,665
and I've competed
on food network.
88
00:03:19,667 --> 00:03:23,202
And if you ask bobby flay,
the greatest cook ever.
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00:03:23,204 --> 00:03:24,770
Lemonis: Okay.
90
00:03:24,772 --> 00:03:28,106
♪♪
91
00:03:28,108 --> 00:03:29,775
ana:
When the second book came out,
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00:03:29,777 --> 00:03:31,376
they had done this big thing
in the miami herald
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00:03:31,378 --> 00:03:33,545
about my new book,
so I started getting,
94
00:03:33,547 --> 00:03:36,915
like, calls for endorsement
deals and things like that.
95
00:03:36,917 --> 00:03:39,051
And I got called to do
"real housewives of miami."
96
00:03:39,053 --> 00:03:40,619
don't hold that against me.
97
00:03:40,621 --> 00:03:42,087
Lemonis: So, you were on
"real housewives of miami"?
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00:03:42,089 --> 00:03:43,889
How many seasons?
Ana: Yeah, for two seasons.
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00:03:43,891 --> 00:03:45,724
I'm a terrible housewife
because, to me,
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00:03:45,726 --> 00:03:47,292
everything is
attorney-client privilege,
101
00:03:47,294 --> 00:03:49,194
so I don't perpetuate rumors.
102
00:03:49,196 --> 00:03:51,096
So, no, it didn't work for me.
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00:03:51,098 --> 00:03:52,864
Lemonis: Yeah.
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00:03:52,866 --> 00:03:55,567
Ana: I think in the year
that I trademarked that name,
105
00:03:55,569 --> 00:03:57,102
there were more brands
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00:03:57,104 --> 00:04:00,572
with the name "skinny"
than any other brand.
107
00:04:00,574 --> 00:04:02,307
Lemonis: What are some examples,
like, I have popcorn?
108
00:04:02,309 --> 00:04:06,311
Ana: Skinnypop, skinny cow,
skinny tea, skinny condoms?
109
00:04:06,313 --> 00:04:08,113
I don't know.
110
00:04:08,115 --> 00:04:10,649
Lemonis: No. Nuh-unh. Mnh-mnh.
111
00:04:10,651 --> 00:04:13,885
Let's stay on the sauce, lady.
112
00:04:13,887 --> 00:04:15,387
So, the million dollar marinade?
113
00:04:15,389 --> 00:04:16,755
How'd you come up
with that name?
114
00:04:16,757 --> 00:04:18,423
Ana: I don't know.
It rolls off the tongue.
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00:04:18,425 --> 00:04:20,292
Lemonis:
What's funny about it is
116
00:04:20,294 --> 00:04:22,594
you told me a lot
of different things about it.
117
00:04:22,596 --> 00:04:23,762
Ana: Yeah?
Lemonis: "it does this.
118
00:04:23,764 --> 00:04:25,097
It could do that.
It could do this.
119
00:04:25,099 --> 00:04:26,565
It could do that."
120
00:04:26,567 --> 00:04:28,400
how do I know that?
Ana: You don't.
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00:04:28,402 --> 00:04:30,769
Lemonis: Because million dollar
sauce is, like, I don't --
122
00:04:30,771 --> 00:04:32,237
does it cost a million dollars?
123
00:04:32,239 --> 00:04:34,072
Am I going to feel
like a million dollars?
124
00:04:34,074 --> 00:04:35,741
Ana: Yeah, it's going to get you
the accolades,
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00:04:35,743 --> 00:04:38,176
and you're going to feel good.
126
00:04:38,178 --> 00:04:40,779
Lemonis: My first impression of
the bottle itself isn't great.
127
00:04:40,781 --> 00:04:43,148
This wouldn't exactly catch
my attention.
128
00:04:43,150 --> 00:04:44,816
Where do they go from here?
129
00:04:44,818 --> 00:04:47,019
Ana: The distributor picks
them up and takes them.
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00:04:47,021 --> 00:04:48,920
I'm in publix, whole foods,
milam's,
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00:04:48,922 --> 00:04:50,522
and then I'm at fresh market.
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00:04:50,524 --> 00:04:53,292
Lemonis: Just in the florida
market? South florida?
133
00:04:53,294 --> 00:04:54,660
Ana: Yeah.
Lemonis: What's the price point?
134
00:04:54,662 --> 00:04:56,328
Ana: Publix has it at $4.99,
135
00:04:56,330 --> 00:04:58,530
fresh market has it at $5.49,
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00:04:58,532 --> 00:05:01,166
and whole foods has it at $5.99.
137
00:05:01,168 --> 00:05:05,337
Lemonis: How many bottles a year
are you actually producing?
138
00:05:05,339 --> 00:05:07,139
Ana: A lot, but not a lot.
139
00:05:07,141 --> 00:05:08,540
I mean,
it depends what "a lot" is.
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00:05:08,542 --> 00:05:10,208
Lemonis: Like, 10,000 bottles?
Ana: More.
141
00:05:10,210 --> 00:05:11,810
Maybe somewhere around 20,000?
142
00:05:11,812 --> 00:05:14,313
Lemonis: I never expect,
on the fly, for a business owner
143
00:05:14,315 --> 00:05:15,847
to have an exact number,
144
00:05:15,849 --> 00:05:17,649
but "how many bottles
did you sell?"
145
00:05:17,651 --> 00:05:19,818
shouldn't have a range
of 10,000.
146
00:05:19,820 --> 00:05:22,554
10,000, maybe 20,000?
147
00:05:22,556 --> 00:05:24,990
Can we get a little closer
to the actual number?
148
00:05:24,992 --> 00:05:26,291
How long has the company
149
00:05:26,293 --> 00:05:28,026
actually been bottling
and selling?
150
00:05:28,028 --> 00:05:30,062
Ana: 2013, I think,
was the first.
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00:05:30,064 --> 00:05:31,797
Lemonis: So, it's been a while.
Ana: I know.
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00:05:31,799 --> 00:05:33,799
I think I haven't grown it
like I should have
153
00:05:33,801 --> 00:05:38,103
because I didn't want
to put the company in debt.
154
00:05:38,105 --> 00:05:39,838
Lemonis: How much money
have you invested?
155
00:05:39,840 --> 00:05:41,540
Ana: Probably around $50,000.
156
00:05:41,542 --> 00:05:42,808
Lemonis: Okay.
157
00:05:42,810 --> 00:05:44,509
How many employees do you have?
158
00:05:44,511 --> 00:05:46,878
Ana: Everyone's part-time.
Lemonis: No full-time employees?
159
00:05:46,880 --> 00:05:50,849
Ana: No. And I just moved to
an office, like, two weeks ago.
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00:05:50,851 --> 00:05:53,185
Lemonis: And, so, the only thing
you do today to make money
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00:05:53,187 --> 00:05:55,687
is the sauces and appearances.
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00:05:55,689 --> 00:05:59,858
Ana: And endorsement deals and,
you know, whatever my books --
163
00:05:59,860 --> 00:06:01,393
you know, books don't make
a ton of money.
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00:06:01,395 --> 00:06:03,362
Lemonis: I like the fact
that ana has real skin
165
00:06:03,364 --> 00:06:04,930
in the game, $50,000.
166
00:06:04,932 --> 00:06:06,732
That's doesn't include
the amount of money
167
00:06:06,734 --> 00:06:08,734
she passed up on
by not being a lawyer.
168
00:06:08,736 --> 00:06:11,002
She's really committed to this.
169
00:06:11,004 --> 00:06:12,738
So, I want to take you
to my friend's place,
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00:06:12,740 --> 00:06:14,406
woodpecker in st. Augustine.
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00:06:14,408 --> 00:06:17,242
Lemonis: We'll see if --
ana: If skinny latina has legs.
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00:06:17,244 --> 00:06:19,010
Lemonis: So, I'll see you there.
Ana: Okay.
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♪♪
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♪♪
175
00:06:29,390 --> 00:06:32,124
this place is so neat.
176
00:06:32,126 --> 00:06:34,192
Lemonis: [ laughs ]
what's up, hot stuff?
177
00:06:34,194 --> 00:06:36,628
Lisa: There you are.
So good to see you.
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00:06:36,630 --> 00:06:38,029
Lemonis: Did you get dolled up
for me today?
179
00:06:38,031 --> 00:06:40,365
Lisa: I did. You look so good!
180
00:06:40,367 --> 00:06:41,800
Lemonis: I want you to meet
my friend, ana.
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00:06:41,802 --> 00:06:43,301
Lisa: Hi, ana.
Ana: Hi, nice to meet you.
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00:06:43,303 --> 00:06:44,970
Lemonis: My friend lisa.
Lisa: Nice to meet you.
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00:06:44,972 --> 00:06:46,571
Ana: He has said
such nice things about you.
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00:06:46,573 --> 00:06:48,273
Lemonis: So, she's got
some sauces and marinades.
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00:06:48,275 --> 00:06:50,375
I know they sent them to you?
Lisa: Yes. Yes.
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Lemonis: Did you have a chance
to marinate anything?
187
00:06:51,879 --> 00:06:53,945
Lisa: We did.
Lemonis: In order to really
188
00:06:53,947 --> 00:06:55,814
understand the marinade better,
189
00:06:55,816 --> 00:06:58,417
I asked lisa to marinate
something overnight
190
00:06:58,419 --> 00:07:00,285
and cook it so that,
when I got there,
191
00:07:00,287 --> 00:07:02,254
we can actually
get right down to business.
192
00:07:02,256 --> 00:07:04,322
Are you the smokemaster?
Joe: Yes, I am.
193
00:07:04,324 --> 00:07:05,791
Lemonis: Okay. All right.
Let's dig in.
194
00:07:05,793 --> 00:07:07,159
Lemonis:
What should we try first?
195
00:07:07,161 --> 00:07:08,627
I'm going to follow your lead.
196
00:07:08,629 --> 00:07:10,462
Joe: Why don't we start
with turkey?
197
00:07:10,464 --> 00:07:12,831
♪♪
198
00:07:12,833 --> 00:07:15,801
ana: It's really good.
Lisa: That is good.
199
00:07:15,803 --> 00:07:18,670
Lemonis: Who wants to try
a few ribs that are marinated?
200
00:07:18,672 --> 00:07:20,138
Ana: Come on, guys. Try it.
201
00:07:20,140 --> 00:07:21,907
Lemonis:
Everybody, come on down.
202
00:07:21,909 --> 00:07:23,775
Lisa: Don't be shy. Come on.
Lemonis: What do you think?
203
00:07:23,777 --> 00:07:25,444
Man: They're very good.
Lemonis: It's good, right?
204
00:07:25,446 --> 00:07:27,012
Man: Yeah.
Woman: Fabulous.
205
00:07:27,014 --> 00:07:30,081
♪♪
206
00:07:30,083 --> 00:07:32,017
joe: This one is injected
and rubbed.
207
00:07:32,019 --> 00:07:34,653
Lisa: Mmm, now that's got
a nice flavor.
208
00:07:34,655 --> 00:07:36,955
Ana: Come on.
Lisa: It's finger-licking good.
209
00:07:36,957 --> 00:07:38,356
Lemonis:
It actually is pretty good.
210
00:07:38,358 --> 00:07:40,091
Lisa:
Mike, what do you think, babe?
211
00:07:40,093 --> 00:07:41,927
Lemonis: He's busy. He's like,
"don't be bothering me."
212
00:07:41,929 --> 00:07:43,361
lisa: May I chime in?
Lemonis: Please.
213
00:07:43,363 --> 00:07:45,530
Lisa: If I put in my barbecue,
and I said,
214
00:07:45,532 --> 00:07:48,200
"I'm introducing my ribs
with skinny latina,"
215
00:07:48,202 --> 00:07:49,501
all my men that come in here,
216
00:07:49,503 --> 00:07:51,336
and some women
who are meat eaters,
217
00:07:51,338 --> 00:07:53,104
they're going to go,
"not for me."
218
00:07:53,106 --> 00:07:55,373
you can't say "skinny" and
"ribs." it just doesn't work.
219
00:07:55,375 --> 00:07:57,142
They're going to think,
all of a sudden,
220
00:07:57,144 --> 00:07:59,711
"well, it's going to taste
low-cal. Not going to be good."
221
00:07:59,713 --> 00:08:01,813
you need it to be, like,
some beefy latina --
222
00:08:01,815 --> 00:08:03,482
no, just kidding.
223
00:08:03,484 --> 00:08:05,116
Ana: But people are
buying it, marcus.
224
00:08:05,118 --> 00:08:07,385
Lemonis: Well, they're not,
or I wouldn't be here.
225
00:08:07,387 --> 00:08:10,655
Typically, celebrity-endorsed
products have great branding,
226
00:08:10,657 --> 00:08:12,557
but the product itself
isn't that great.
227
00:08:12,559 --> 00:08:14,159
In the case of skinny latina,
228
00:08:14,161 --> 00:08:16,161
the product itself
is spectacular.
229
00:08:16,163 --> 00:08:18,630
The branding, not so much.
230
00:08:18,632 --> 00:08:20,031
Why don't you and I go
somewhere else, and we'll dig
231
00:08:20,033 --> 00:08:21,500
into the financials.
Ana: Okay.
232
00:08:21,502 --> 00:08:23,268
Lemonis: Okay? All right. Great.
233
00:08:23,270 --> 00:08:31,476
♪♪
234
00:08:31,478 --> 00:08:34,679
ana: So...Okay.
235
00:08:34,681 --> 00:08:37,182
Lemonis: Thank you so much.
Woman: Welcome. My pleasure.
236
00:08:37,184 --> 00:08:39,518
Lemonis: So, what financials
do you have?
237
00:08:39,520 --> 00:08:41,319
Ana: Just 2019.
238
00:08:41,321 --> 00:08:46,658
Lemonis: So, you don't have
financials from '15, '16, '17?
239
00:08:46,660 --> 00:08:49,361
Ana: I didn't have time,
and I didn't think it was --
240
00:08:49,363 --> 00:08:51,363
lemonis: You know that that's
not going to fly with me.
241
00:08:51,365 --> 00:08:53,331
Ana: No, I know, but it wasn't
making enough money
242
00:08:53,333 --> 00:08:54,533
to, you know,
warrant the time and --
243
00:08:54,535 --> 00:08:56,301
lemonis: Think about it --
244
00:08:56,303 --> 00:08:59,037
do you know how much revenue
you did in the last 12 months?
245
00:08:59,039 --> 00:09:05,377
Ana: Yeah, like 2019, so far,
is $41,000.
246
00:09:05,379 --> 00:09:08,213
Lemonis: Okay. Let's just
back up here for a second.
247
00:09:08,215 --> 00:09:12,050
The cost of the product,
raw cost today,
248
00:09:12,052 --> 00:09:16,388
$1.96 for the marinade,
$1.71 for the guava barbecue,
249
00:09:16,390 --> 00:09:18,189
$1.63 for the mango,
250
00:09:18,191 --> 00:09:19,958
and then the hot sauce
has not yet been returning.
251
00:09:19,960 --> 00:09:21,560
Ana: Not yet,
because I'm working on it.
252
00:09:21,562 --> 00:09:23,228
Lemonis: But, again,
that doesn't include the labels.
253
00:09:23,230 --> 00:09:24,596
14 cents apiece?
254
00:09:24,598 --> 00:09:25,897
Ana: What, do you have
a better label?
255
00:09:25,899 --> 00:09:27,365
Lemonis: It's a sticker.
256
00:09:27,367 --> 00:09:29,768
Where are the financials,
on a different page?
257
00:09:29,770 --> 00:09:32,203
Ana: I have no financials.
This is all I have.
258
00:09:32,205 --> 00:09:33,572
Lemonis: Okay, well --
259
00:09:33,574 --> 00:09:35,273
the minute you start a business,
260
00:09:35,275 --> 00:09:37,542
it's important to start keeping
good financial records
261
00:09:37,544 --> 00:09:39,878
like how much revenue you do,
what your margins are,
262
00:09:39,880 --> 00:09:42,480
what your expenses are,
are you making a profit or not.
263
00:09:42,482 --> 00:09:44,249
In order for you
to grow your company,
264
00:09:44,251 --> 00:09:47,552
you have to make decisions
based on facts, not your gut.
265
00:09:47,554 --> 00:09:50,255
Okay, so, let's put the papers
away for a minute,
266
00:09:50,257 --> 00:09:54,225
and let's just assume
that there's not much revenue.
267
00:09:54,227 --> 00:09:55,994
Ana: No, yeah.
268
00:09:55,996 --> 00:09:58,396
Lemonis: So, am I supposed to be
excited by that or petrified?
269
00:09:58,398 --> 00:09:59,798
Ana:
Excited because you know what?
270
00:09:59,800 --> 00:10:02,000
You've got the benefit
of my experience,
271
00:10:02,002 --> 00:10:03,668
and I've never lost money.
272
00:10:03,670 --> 00:10:06,104
There's always been a profit
margin, 30%, 40%.
273
00:10:06,106 --> 00:10:08,073
Places like costco are calling.
274
00:10:08,075 --> 00:10:09,741
I don't owe anybody money.
I don't have partners.
275
00:10:09,743 --> 00:10:11,142
Lemonis: Which is awesome, yeah.
276
00:10:11,144 --> 00:10:13,011
Ana: I mean,
there's some value in that.
277
00:10:13,013 --> 00:10:18,817
Lemonis: Mm-hmm. Yeah.
Ana: It's hard for me to --
278
00:10:18,819 --> 00:10:21,353
that this isn't further along
279
00:10:21,355 --> 00:10:23,788
given that I've given up
so much for it.
280
00:10:23,790 --> 00:10:25,991
Lemonis: What do you think
you've given up?
281
00:10:25,993 --> 00:10:27,525
Ana: Relationships.
Lemonis: You feel like you
282
00:10:27,527 --> 00:10:29,427
chose this over personal
relationships?
283
00:10:29,429 --> 00:10:31,029
Ana: Yes, I'm going to be
crazy cat lady.
284
00:10:31,031 --> 00:10:33,164
I'm going to have 15 cats,
be in a ratty bathrobe,
285
00:10:33,166 --> 00:10:37,302
surrounded by my
skinny latina empire, you know?
286
00:10:37,304 --> 00:10:39,037
Lemonis:
This is that important to you?
287
00:10:39,039 --> 00:10:42,474
Ana: 'cause I don't know.
I just believe in it.
288
00:10:42,476 --> 00:10:43,808
Lemonis: You believe
in what you're doing.
289
00:10:43,810 --> 00:10:47,379
That definitely counts
for something.
290
00:10:47,381 --> 00:10:50,148
Ana: Yeah.
I need you to help me think big
291
00:10:50,150 --> 00:10:52,217
and help me get
to the next level.
292
00:10:52,219 --> 00:10:54,152
Lemonis: The challenge is
I don't know what
293
00:10:54,154 --> 00:10:57,856
I'm investing in
because there's no financials,
294
00:10:57,858 --> 00:10:59,958
and there's no real revenue,
and I don't know what --
295
00:10:59,960 --> 00:11:02,661
ana: I mean,
it's not real revenue to you.
296
00:11:02,663 --> 00:11:04,529
Lemonis: It's not real revenue
because it's not on paper
297
00:11:04,531 --> 00:11:06,331
because you can't show it to me.
298
00:11:06,333 --> 00:11:10,068
So, it's phantom, but I know
the proof of concept is there.
299
00:11:10,070 --> 00:11:12,203
This is one of
the rarest occasions
300
00:11:12,205 --> 00:11:14,839
where somebody has
an amazing product,
301
00:11:14,841 --> 00:11:18,176
but they don't have all the
other building blocks around it
302
00:11:18,178 --> 00:11:21,713
to give me or any other investor
the confidence to move forward.
303
00:11:21,715 --> 00:11:23,915
I want to help her,
and I eventually hope
304
00:11:23,917 --> 00:11:27,519
to be able to invest,
but I feel like, in this moment,
305
00:11:27,521 --> 00:11:29,688
it would be irresponsible
for me to do so.
306
00:11:29,690 --> 00:11:31,923
For something like this
that's a startup,
307
00:11:31,925 --> 00:11:34,826
I think the company needs a
couple hundred thousand dollars,
308
00:11:34,828 --> 00:11:37,495
just to get it moving, right?
309
00:11:37,497 --> 00:11:39,831
And I'm willing to put
in a portion of that,
310
00:11:39,833 --> 00:11:41,199
but not by myself.
311
00:11:41,201 --> 00:11:43,568
I think I need more people
in the boat
312
00:11:43,570 --> 00:11:44,936
than just you and just me.
313
00:11:44,938 --> 00:11:46,538
How many people
have you talked to
314
00:11:46,540 --> 00:11:47,939
about investing
in the business?
315
00:11:47,941 --> 00:11:49,407
Ana: Nobody.
Lemonis: Never?
316
00:11:49,409 --> 00:11:51,009
Ana: No.
Lemonis: Not one time?
317
00:11:51,011 --> 00:11:52,343
Ana: No.
Lemonis: Why not?
318
00:11:52,345 --> 00:11:54,245
Ana: I didn't want them.
Lemonis: Why?
319
00:11:54,247 --> 00:11:57,982
Ana: Because they wouldn't be
silent partners.
320
00:11:57,984 --> 00:12:00,218
Lemonis: Number-one rule
in negotiating?
321
00:12:00,220 --> 00:12:02,020
Know your audience.
322
00:12:02,022 --> 00:12:04,756
Silence?
Yeah, that's not going to be me.
323
00:12:04,758 --> 00:12:07,058
Ana: It's just more opinions
and more stupid people
324
00:12:07,060 --> 00:12:08,626
that don't know
anything about this,
325
00:12:08,628 --> 00:12:10,195
and then I'm going to
have to explain
326
00:12:10,197 --> 00:12:11,863
the same [bleep] over and over.
Ugh.
327
00:12:15,802 --> 00:12:17,268
Woman: I think it's just
so cliché
328
00:12:17,270 --> 00:12:18,937
that when we think
of latina,
329
00:12:18,939 --> 00:12:21,272
we always think they
they're just showing cleavage.
330
00:12:21,274 --> 00:12:23,007
Aaron: Skanky.
331
00:12:27,547 --> 00:12:29,481
Lemonis: How many people
have you talked to
332
00:12:29,483 --> 00:12:31,282
about investing
in the business?
333
00:12:31,284 --> 00:12:35,920
Ana: Nobody. Ugh.
It's a waste of time.
334
00:12:35,922 --> 00:12:37,555
I don't have that kind of time.
Lemonis: All right.
335
00:12:37,557 --> 00:12:41,793
So, I'm willing to invest
in this business if other people
336
00:12:41,795 --> 00:12:45,330
are also willing to invest,
and the only way that
337
00:12:45,332 --> 00:12:47,732
I'll let them invest
is if they go through
338
00:12:47,734 --> 00:12:50,301
a full-blown
investor presentation.
339
00:12:50,303 --> 00:12:52,270
Ana: By me?
Lemonis: By you.
340
00:12:52,272 --> 00:12:54,305
I want a legitimate
business plan.
341
00:12:54,307 --> 00:12:57,442
Ana: You want me to have
even more hurdles.
342
00:12:57,444 --> 00:12:59,577
Lemonis: No.
Ana: When is my easy time?
343
00:12:59,579 --> 00:13:01,012
Lemonis: No, your easy time
344
00:13:01,014 --> 00:13:04,115
is after you
actually do it the right way.
345
00:13:04,117 --> 00:13:05,617
Ana: I thought it was by calling
marcus lemonis,
346
00:13:05,619 --> 00:13:08,119
but, apparently,
I have more work ahead.
347
00:13:08,121 --> 00:13:09,687
Lemonis:
Well, no, because you called me
348
00:13:09,689 --> 00:13:11,523
is why you have
more work ahead of you.
349
00:13:11,525 --> 00:13:12,957
And I'm not going to write
a check for somebody
350
00:13:12,959 --> 00:13:14,192
that doesn't have
their [bleep] together.
351
00:13:14,194 --> 00:13:17,462
I won't do it.
352
00:13:17,464 --> 00:13:19,531
Okay?
353
00:13:19,533 --> 00:13:20,832
Ana: Yes.
We got a deal.
354
00:13:20,834 --> 00:13:23,034
No money, no whatever,
but, yeah.
355
00:13:23,036 --> 00:13:24,602
Lemonis: No, no. We have a deal.
Ana: We have a deal.
356
00:13:24,604 --> 00:13:26,838
Lemonis: And you will have money
once you can prove
357
00:13:26,840 --> 00:13:28,673
that you can raise money
from other people
358
00:13:28,675 --> 00:13:30,375
in the orthodox way.
359
00:13:30,377 --> 00:13:31,709
Ana: I'm down.
Lemonis: Okay?
360
00:13:31,711 --> 00:13:33,011
Ana: I'm game.
I'm excited about it.
361
00:13:33,013 --> 00:13:35,547
Lemonis: Okay. All right?
362
00:13:35,549 --> 00:13:37,949
♪♪
363
00:13:37,951 --> 00:13:41,319
all right? We're good?
Ana: Yes, we're totally good.
364
00:13:41,321 --> 00:13:46,624
♪♪
365
00:13:46,626 --> 00:13:51,896
♪♪
366
00:13:51,898 --> 00:13:54,666
lemonis: I wanted to really
understand how skinny latina
367
00:13:54,668 --> 00:13:56,134
lived in the marketplace,
368
00:13:56,136 --> 00:13:58,369
so I asked ana
to set up a meeting
369
00:13:58,371 --> 00:14:00,672
at a local grocery store
where she sells her product,
370
00:14:00,674 --> 00:14:02,707
and I wanted her
to bring in a friend
371
00:14:02,709 --> 00:14:04,909
because I thought
if there were two people there
372
00:14:04,911 --> 00:14:08,646
that she may be more open-minded
to constructive criticism.
373
00:14:08,648 --> 00:14:10,381
Do you think your package
stands out?
374
00:14:10,383 --> 00:14:11,850
Do you think it --
375
00:14:11,852 --> 00:14:13,818
ana: Yes, I do think
it stands out in this sea
376
00:14:13,820 --> 00:14:16,588
of very masculine-looking stuff.
377
00:14:16,590 --> 00:14:22,260
Lemonis: It's the only female
character on any bottle...
378
00:14:22,262 --> 00:14:24,095
Ana: Except cholula.
Lemonis: ...Except cholula.
379
00:14:24,097 --> 00:14:25,697
Trevor: And that's a hot sauce.
380
00:14:25,699 --> 00:14:27,866
Ana: Who is the best-selling
sauce in the world.
381
00:14:27,868 --> 00:14:29,734
Trevor: Yes, the packaging
is more feminine,
382
00:14:29,736 --> 00:14:31,769
but I see a clear messaging
with most of them,
383
00:14:31,771 --> 00:14:33,104
especially the national brands.
384
00:14:33,106 --> 00:14:34,739
If you look at these,
I know that,
385
00:14:34,741 --> 00:14:36,374
that one right
there is garlic and herb.
386
00:14:36,376 --> 00:14:37,842
I know that this one
is made from lemon,
387
00:14:37,844 --> 00:14:39,510
and that one has teriyaki.
388
00:14:39,512 --> 00:14:41,246
If I look at yours,
I don't know what's in there.
389
00:14:41,248 --> 00:14:44,949
I don't know what it's going
to do for me or for my dish.
390
00:14:44,951 --> 00:14:46,851
Lemonis:
I'm going to grab the manager
391
00:14:46,853 --> 00:14:49,254
and see if they have
any feedback. One second.
392
00:14:49,256 --> 00:14:51,923
The sauces and condiments
business in the united states
393
00:14:51,925 --> 00:14:55,660
is roughly $42.7 billion.
394
00:14:55,662 --> 00:14:58,396
Of that,
a decent-sized percentage of it
395
00:14:58,398 --> 00:15:01,299
will be spent on
specialty sauces and marinades.
396
00:15:01,301 --> 00:15:03,401
Big companies have
a lot of money
397
00:15:03,403 --> 00:15:05,236
to spend marketing their product
398
00:15:05,238 --> 00:15:08,773
and even buying shelf space
to dominate the category.
399
00:15:08,775 --> 00:15:10,541
For ana to even have a chance,
400
00:15:10,543 --> 00:15:12,443
she's going to have to
come up with the brand
401
00:15:12,445 --> 00:15:15,647
and a look to compete
with the big boys on the shelf.
402
00:15:15,649 --> 00:15:18,383
Lee, when you saw the product or
heard about it the first time,
403
00:15:18,385 --> 00:15:20,118
what kind of product
did you think it was?
404
00:15:20,120 --> 00:15:21,619
Lee: Definitely get
the impression that it's
405
00:15:21,621 --> 00:15:23,121
a lower-calorie-type option.
Ana: Mm-hmm.
406
00:15:23,123 --> 00:15:24,923
Lemonis: And has it
been selling through?
407
00:15:24,925 --> 00:15:27,292
Lee: It's been a little bit
on the lower end of our sales,
408
00:15:27,294 --> 00:15:28,726
what we'd expect
for the category.
409
00:15:28,728 --> 00:15:30,795
Ana: You know
we have other flavors?
410
00:15:30,797 --> 00:15:32,563
When you have more space,
411
00:15:32,565 --> 00:15:35,433
it kind of gets people
to pay attention.
412
00:15:35,435 --> 00:15:38,403
Lemonis: Your calories are
25 for 1 tablespoon.
413
00:15:38,405 --> 00:15:40,939
This competitive marinade
is 10 calories.
414
00:15:40,941 --> 00:15:42,974
It feels a little misleading
that you're calling it skinny.
415
00:15:42,976 --> 00:15:47,111
Ana: But I don't know right now
in this day and age
416
00:15:47,113 --> 00:15:51,749
a single person that is counting
calories as a way of dieting.
417
00:15:51,751 --> 00:15:53,551
It's just not done anymore.
418
00:15:53,553 --> 00:15:56,754
Lemonis: I'm pretty sure that
people still look at calories.
419
00:15:56,756 --> 00:15:59,657
Trevor: I count my calories.
Ana: Right.
420
00:15:59,659 --> 00:16:01,459
I don't know many people
that count them.
421
00:16:01,461 --> 00:16:03,661
Lemonis: Well, you know one.
Ana: Didn't know that about him,
422
00:16:03,663 --> 00:16:06,464
but let's make something
with each of those products.
423
00:16:06,466 --> 00:16:09,767
There's only one of them
that you'll eat.
424
00:16:09,769 --> 00:16:12,170
Guarantee you.
Lemonis: Yeah.
425
00:16:12,172 --> 00:16:15,840
Her way of justifying
her decisions
426
00:16:15,842 --> 00:16:18,843
are to refute
everybody else's feedback.
427
00:16:18,845 --> 00:16:20,511
You want to be able to be
partners with somebody
428
00:16:20,513 --> 00:16:22,013
and give them feedback.
429
00:16:22,015 --> 00:16:24,515
If every single idea you have
is shot down,
430
00:16:24,517 --> 00:16:26,117
doesn't it put
your money at risk?
431
00:16:26,119 --> 00:16:28,886
So, we're going to go
to a focus group in miami.
432
00:16:28,888 --> 00:16:30,788
Ana: Oh, okay.
Lemonis: They have the product,
433
00:16:30,790 --> 00:16:32,390
and they're going to give us
honest feedback
434
00:16:32,392 --> 00:16:34,759
about a list of questions.
435
00:16:34,761 --> 00:16:37,328
Ana: Okay.
Trevor: You got to be open.
436
00:16:37,330 --> 00:16:39,130
Ana: Yeah. I am.
437
00:16:39,132 --> 00:16:41,199
Lemonis: Is this what
open looks like?
438
00:16:41,201 --> 00:16:42,967
Ana: This is as open
as you're going to get today.
439
00:16:42,969 --> 00:16:44,569
I'm a work in progress.
440
00:16:44,571 --> 00:16:46,304
Lemonis: Trevor, I think
it would be good if you come.
441
00:16:46,306 --> 00:16:47,905
Trevor: Of course.
442
00:16:47,907 --> 00:16:49,974
Lemonis: Only because I think
I need some backup.
443
00:16:49,976 --> 00:16:51,743
Trevor: Yeah, I got you.
444
00:16:51,745 --> 00:16:59,851
♪♪
445
00:16:59,853 --> 00:17:01,652
lemonis: How are you?
Kathleen: Hi.
446
00:17:01,654 --> 00:17:03,721
Welcome to focus groups.
Lemonis: Nice to see you again.
447
00:17:03,723 --> 00:17:06,057
So, I'm taking ana
to a focus group today,
448
00:17:06,059 --> 00:17:08,393
which is essentially
a controlled environment,
449
00:17:08,395 --> 00:17:11,029
and it allows people
to give real, honest feedback
450
00:17:11,031 --> 00:17:12,430
without feeling uncomfortable.
451
00:17:12,432 --> 00:17:14,098
It's going to open her eyes.
452
00:17:14,100 --> 00:17:16,000
Kathleen: So, we have 10 people
selected at random.
453
00:17:16,002 --> 00:17:17,769
There's a camera
and two-way mirror.
454
00:17:17,771 --> 00:17:20,872
So, you can see them,
they don't see you.
455
00:17:20,874 --> 00:17:22,874
Ana: Right.
So, if they're here,
456
00:17:22,876 --> 00:17:24,609
isn't there
this kind of presumption
457
00:17:24,611 --> 00:17:27,111
that they're trying to find
what's wrong with something?
458
00:17:27,113 --> 00:17:28,880
Kathleen: No.
459
00:17:28,882 --> 00:17:30,448
There's going to be people
that really like it, as well.
460
00:17:30,450 --> 00:17:32,016
Lemonis: Let's go do it.
461
00:17:32,018 --> 00:17:33,785
Kathleen: It'll be
a learning experience. Let's go.
462
00:17:33,787 --> 00:17:35,720
Hi.
463
00:17:35,722 --> 00:17:38,556
♪♪
464
00:17:38,558 --> 00:17:40,258
thank you all for coming.
465
00:17:40,260 --> 00:17:43,761
I would like you to circle
what you like on that label,
466
00:17:43,763 --> 00:17:46,798
cross out what you don't,
and put a question mark
467
00:17:46,800 --> 00:17:50,935
by anything
that you are confused about.
468
00:17:50,937 --> 00:17:53,037
Done? So, now
what I'd like you do,
469
00:17:53,039 --> 00:17:54,939
just without thinking,
give me one word --
470
00:17:54,941 --> 00:17:56,541
what are your first impressions?
471
00:17:58,878 --> 00:18:01,746
Lemonis: Oh, boy.
Kathleen: What did you write?
472
00:18:01,748 --> 00:18:03,748
Aaron: I actually
wrote "skanky."
473
00:18:03,750 --> 00:18:05,416
her -- she takes
over the whole image.
474
00:18:05,418 --> 00:18:06,951
Alice: I agree with aaron.
475
00:18:06,953 --> 00:18:08,653
It's great that there's a woman
on the label,
476
00:18:08,655 --> 00:18:11,989
but we can put a woman
differently and no so...Skanky.
477
00:18:11,991 --> 00:18:14,225
It makes it looks like
if a latina woman
478
00:18:14,227 --> 00:18:16,127
is supposed to look like that.
479
00:18:16,129 --> 00:18:17,995
Woman #1:
I think it's just so cliché
480
00:18:17,997 --> 00:18:19,664
that when we think of latina,
481
00:18:19,666 --> 00:18:22,066
we always think that
they're just showing cleavage.
482
00:18:22,068 --> 00:18:23,734
Kathleen: Okay.
483
00:18:23,736 --> 00:18:26,270
Tell me something
that you liked on this.
484
00:18:26,272 --> 00:18:27,839
What did you circle?
485
00:18:27,841 --> 00:18:29,440
Giancarlo: Gluten-free,
for health reasons.
486
00:18:29,442 --> 00:18:31,075
Kathleen: Okay.
487
00:18:31,077 --> 00:18:33,144
Woman #2: I circled "skinny"
and the "all-natural"
488
00:18:33,146 --> 00:18:34,812
because I try not
to use marinades
489
00:18:34,814 --> 00:18:36,114
that have a lot of sugars.
490
00:18:36,116 --> 00:18:38,082
Kathleen: Okay. Somebody else?
491
00:18:38,084 --> 00:18:39,617
Woman #3:
I'd like to see low-sodium
492
00:18:39,619 --> 00:18:41,786
and maybe how many calories
on the front.
493
00:18:41,788 --> 00:18:43,521
Kathleen: Okay.
Lemonis: What?
494
00:18:43,523 --> 00:18:46,190
I'm sorry, did she want to know
what the calories were?
495
00:18:46,192 --> 00:18:47,625
Trevor: It's so weird.
Do you think she counts that?
496
00:18:47,627 --> 00:18:49,160
Lemonis: How rude.
497
00:18:49,162 --> 00:18:51,362
Trevor: Nobody does that
anymore though, marcus.
498
00:18:51,364 --> 00:18:53,498
Kathleen: Okay. What else?
499
00:18:53,500 --> 00:18:56,567
Rivly:
I crossed out "all-natural"
because it doesn't say much.
500
00:18:56,569 --> 00:18:58,469
It doesn't mean much to me.
Kathleen: Okay.
501
00:18:58,471 --> 00:19:00,505
What would make that mean
something to you?
502
00:19:00,507 --> 00:19:03,174
Rivly: It would have to say
organic, gluten-free,
503
00:19:03,176 --> 00:19:05,009
no preservatives,
no added sugar,
504
00:19:05,011 --> 00:19:07,478
low sugar,
you know, all of that.
505
00:19:07,480 --> 00:19:09,313
Ana: Oh, dude, really?
506
00:19:09,315 --> 00:19:12,183
Like, what else do you want me
to put on the label, you know?
507
00:19:12,185 --> 00:19:14,952
That's just one
of the those people that,
508
00:19:14,954 --> 00:19:16,521
for me, likes the sound
of her own voice,
509
00:19:16,523 --> 00:19:18,122
is just a know-it-all.
510
00:19:18,124 --> 00:19:19,991
Lemonis: I'm disappointed that
511
00:19:19,993 --> 00:19:21,492
somebody gives feedback
she doesn't like,
512
00:19:21,494 --> 00:19:23,161
"oh, they don't know
what they're doing."
513
00:19:23,163 --> 00:19:27,131
♪♪
514
00:19:27,133 --> 00:19:29,000
ana: I hate that the little
woman's not there at all.
515
00:19:29,002 --> 00:19:30,735
Lemonis:
Let's try to be objective.
516
00:19:30,737 --> 00:19:32,970
Ana: Okay. [ voice breaking ]
it's really hard.
517
00:19:32,972 --> 00:19:35,006
It's just so different.
518
00:19:39,344 --> 00:19:42,513
Ana: That's just one of those
people that, for me,
519
00:19:42,515 --> 00:19:43,981
likes the sound
of her own voice,
520
00:19:43,983 --> 00:19:45,816
is just a know-it-all,
and I don't think
521
00:19:45,818 --> 00:19:47,418
when they say,
"oh, it's skanky,"
522
00:19:47,420 --> 00:19:50,788
that it's coming from a place,
really, about the label.
523
00:19:50,790 --> 00:19:53,357
I think that everybody
brings themselves into it,
524
00:19:53,359 --> 00:19:56,761
and it's like that bothers me.
525
00:19:56,763 --> 00:20:00,198
Lemonis: Ana can't help herself
but to react negatively
526
00:20:00,200 --> 00:20:01,699
when somebody gives feedback.
527
00:20:01,701 --> 00:20:03,267
It's literally got to stop.
528
00:20:03,269 --> 00:20:05,269
Kathleen: How many think
it's a diet,
529
00:20:05,271 --> 00:20:07,672
kind of low-calorie product?
530
00:20:07,674 --> 00:20:09,607
Aaron: I would think
that immediately.
531
00:20:09,609 --> 00:20:11,275
Kathleen: Yeah.
Aaron: Just by the name.
532
00:20:11,277 --> 00:20:13,678
Woman: Is this
bethenny frankel's brand?
533
00:20:13,680 --> 00:20:15,046
Kathleen:
So, you think it's skinnygirl?
534
00:20:15,048 --> 00:20:16,781
What would you think
if it was not?
535
00:20:16,783 --> 00:20:18,216
Woman: You're just getting
a free ride
536
00:20:18,218 --> 00:20:20,451
off the skinny brand.
537
00:20:20,453 --> 00:20:22,687
Rivly: I had
that same issue, too,
538
00:20:22,689 --> 00:20:26,424
because I felt like it was
a rip-off of skinny margarita.
539
00:20:26,426 --> 00:20:28,960
Lemonis: The logo, the look,
the name, and the fact
540
00:20:28,962 --> 00:20:31,929
that there's a woman
with red on,
541
00:20:31,931 --> 00:20:35,299
it's tripping people up between
ana's skinny latina
542
00:20:35,301 --> 00:20:37,134
and skinnygirl, the brand.
543
00:20:37,136 --> 00:20:38,369
Kathleen: Guess
what we get to do now.
544
00:20:38,371 --> 00:20:41,305
All: Taste it.
545
00:20:41,307 --> 00:20:44,775
Kathleen: So, if you want
to pass it around, that's fine.
546
00:20:44,777 --> 00:20:51,582
♪♪
547
00:20:51,584 --> 00:20:53,618
lemonis: Come on, baby.
Bring it home.
548
00:20:53,620 --> 00:20:55,319
It's going to be excellent.
549
00:20:55,321 --> 00:20:57,321
Ana: It worries me because
it's supposed to be on food.
550
00:20:57,323 --> 00:20:59,523
Lemonis:
Everybody's going to love it.
551
00:20:59,525 --> 00:21:02,293
Giancarlo: Um, excellent.
The flavor is great.
552
00:21:02,295 --> 00:21:04,829
Man: It's got a great taste,
but it is light,
553
00:21:04,831 --> 00:21:06,998
so I could see it being
the skinny deal.
554
00:21:07,000 --> 00:21:09,333
Woman: I like that there's
little chunky pieces
555
00:21:09,335 --> 00:21:12,336
of, like, vegetables
or whatever the product is.
556
00:21:12,338 --> 00:21:15,072
Like, to me, I know that
makes it the natural part.
557
00:21:15,074 --> 00:21:17,341
They want you to see it.
Alice: It's tangy.
558
00:21:17,343 --> 00:21:19,443
It's definitely latino flavor.
559
00:21:19,445 --> 00:21:21,178
I can just eat it up like this.
Kathleen: Okay.
560
00:21:21,180 --> 00:21:23,180
Rivly: One of the things
that I questioned was
561
00:21:23,182 --> 00:21:25,483
whether or not you could use it
as, like, as sauce.
562
00:21:25,485 --> 00:21:28,019
And it says right here,
you can bring it to a boil,
563
00:21:28,021 --> 00:21:30,187
and it becomes
a delicious sauce,
564
00:21:30,189 --> 00:21:32,189
so I'm really happy about that.
565
00:21:32,191 --> 00:21:34,525
Kathleen: Anybody going to
try this when you go home?
566
00:21:34,527 --> 00:21:35,926
Aaron: I'm going to try it.
567
00:21:35,928 --> 00:21:37,461
Woman: I'm definitely
going to try it.
568
00:21:37,463 --> 00:21:39,930
Rivly: I'm going to publix
after this so, yeah.
569
00:21:39,932 --> 00:21:41,866
Ana: Wow.
Kathleen: Really appreciate
570
00:21:41,868 --> 00:21:44,502
everybody's honest opinion,
and good deal.
571
00:21:44,504 --> 00:21:47,104
Lemonis: I thought the feedback
was very honest,
572
00:21:47,106 --> 00:21:49,140
and in some cases,
it was a little harsh.
573
00:21:49,142 --> 00:21:51,976
But even though you may not
like the feedback,
574
00:21:51,978 --> 00:21:53,711
you still have to absorb it.
575
00:21:53,713 --> 00:21:57,548
This was excellent for you
to get validation on something
576
00:21:57,550 --> 00:22:00,451
you've worked so hard for,
and we should spend the time
577
00:22:00,453 --> 00:22:02,820
and the money to go
through the process of seeing
578
00:22:02,822 --> 00:22:05,022
what would tell
the message better.
579
00:22:05,024 --> 00:22:06,691
Ana: Yeah.
Lemonis: What I want ana
580
00:22:06,693 --> 00:22:09,026
to take away
from the positive comments
581
00:22:09,028 --> 00:22:12,463
is if people are willing to be
complimentary, and you love it,
582
00:22:12,465 --> 00:22:14,865
and you accept it,
and believe it,
583
00:22:14,867 --> 00:22:17,902
then you have to give credence
to the negative ones, as well.
584
00:22:17,904 --> 00:22:27,611
♪♪
585
00:22:27,613 --> 00:22:30,314
ana: When my daughter
went to versailles
586
00:22:30,316 --> 00:22:32,183
in France, she texted me.
587
00:22:32,185 --> 00:22:33,918
She goes,
"this is not versailles.
588
00:22:33,920 --> 00:22:36,354
There's no croquetas here."
lemonis: [ laughs ] exactly.
589
00:22:36,356 --> 00:22:38,923
Any time I'm in miami,
I love going to versailles.
590
00:22:38,925 --> 00:22:41,525
It's a place where you can feel
the community come to life.
591
00:22:41,527 --> 00:22:43,027
There's a lot of energy there,
592
00:22:43,029 --> 00:22:44,862
and I thought it would be
a fun place for ana and I
593
00:22:44,864 --> 00:22:46,497
to sit down
and just share a meal.
594
00:22:46,499 --> 00:22:50,668
That focus group today for me,
it was like in a vacuum,
595
00:22:50,670 --> 00:22:51,936
it was your personality.
596
00:22:51,938 --> 00:22:54,939
You went in expecting the worst.
597
00:22:54,941 --> 00:22:56,607
The lady made some comments,
you're like,
598
00:22:56,609 --> 00:22:58,376
"pfft, what does she know?"
599
00:22:58,378 --> 00:23:01,512
then, the minute you heard
positive reinforcement,
600
00:23:01,514 --> 00:23:03,447
you're like, "I like that lady."
601
00:23:03,449 --> 00:23:06,350
ana: Yeah, but I was surprised
by the positive. It's so funny.
602
00:23:06,352 --> 00:23:08,085
Lemonis: Why were you surprised?
Ana: I don't know.
603
00:23:08,087 --> 00:23:09,954
Lemonis: But everybody has
told you the product is good,
604
00:23:09,956 --> 00:23:11,589
so what are you surprised about?
Ana: I know. I don't know.
605
00:23:11,591 --> 00:23:13,758
Lemonis: Do you not
have self-confidence?
606
00:23:13,760 --> 00:23:16,193
Ana: I do, but it's just
that comes from my upbringing.
607
00:23:16,195 --> 00:23:17,895
My whole life.
608
00:23:17,897 --> 00:23:21,132
My mom would compare me
to all her friends' daughters.
609
00:23:21,134 --> 00:23:23,868
She doesn't like people
that are overweight.
610
00:23:23,870 --> 00:23:25,903
Like, she thinks it's a...
611
00:23:25,905 --> 00:23:27,138
Lemonis: Like a lack
of self-respect.
612
00:23:27,140 --> 00:23:29,273
Ana: ...Lack of character, yeah.
613
00:23:29,275 --> 00:23:32,243
And, so, when I went
to law school, during that time,
614
00:23:32,245 --> 00:23:34,111
I, like, gained a lot of weight,
and she would just tell me,
615
00:23:34,113 --> 00:23:36,313
"but look at this one.
Why does she" -- whatever.
616
00:23:36,315 --> 00:23:38,582
So, the weight thing
was a big issue.
617
00:23:38,584 --> 00:23:40,885
I just thought that if I weighed
5 more pounds,
618
00:23:40,887 --> 00:23:42,653
she loved me less.
619
00:23:42,655 --> 00:23:46,323
Lemonis: People's behavior today
is a product of their history,
620
00:23:46,325 --> 00:23:49,059
and if ana felt criticized
as a child,
621
00:23:49,061 --> 00:23:52,430
that is why she reacts
the way she does to criticism.
622
00:23:52,432 --> 00:23:54,732
Normally, at this point,
I would have made a deal
623
00:23:54,734 --> 00:23:56,801
with the business owner.
Ana: Oh, I know.
624
00:23:56,803 --> 00:23:58,135
Lemonis: Okay, and I haven't
625
00:23:58,137 --> 00:24:01,572
because I have to mitigate
the risk.
626
00:24:01,574 --> 00:24:03,574
The liability in this
particular business
627
00:24:03,576 --> 00:24:05,109
is the way you look at people.
628
00:24:05,111 --> 00:24:07,578
I think what has to happen know,
629
00:24:07,580 --> 00:24:09,346
we're going to do
the investor conference.
630
00:24:09,348 --> 00:24:11,682
You have to put a 15-minute,
631
00:24:11,684 --> 00:24:15,052
lively, animated
presentation together.
632
00:24:15,054 --> 00:24:16,987
It's going to bring
your personality to life
633
00:24:16,989 --> 00:24:20,090
so people are like,
"I want to be part of that."
634
00:24:20,092 --> 00:24:22,626
I need you to show me
that it's possible.
635
00:24:22,628 --> 00:24:24,361
Let's get into the numbers.
636
00:24:24,363 --> 00:24:27,698
"in 2018, this is what I sold
at these kind of margins."
637
00:24:27,700 --> 00:24:29,433
I want to make sure that,
with ana,
638
00:24:29,435 --> 00:24:31,502
I allow her passion
and her vibrance
639
00:24:31,504 --> 00:24:34,371
and her enthusiasm and her love
for her product to live,
640
00:24:34,373 --> 00:24:37,975
but most importantly,
I want her to have the numbers.
641
00:24:37,977 --> 00:24:41,645
I'm 100% positive,
and I would not say this to you
642
00:24:41,647 --> 00:24:44,682
if I didn't mean it,
100% positive
643
00:24:44,684 --> 00:24:47,685
that you're going
to kick ass, okay?
644
00:24:47,687 --> 00:24:49,520
Ana: Thank you.
645
00:24:49,522 --> 00:24:57,127
♪♪
646
00:24:57,129 --> 00:24:58,362
nice.
647
00:24:58,364 --> 00:24:59,830
Lemonis: Yeah, it is cool,
isn't it?
648
00:24:59,832 --> 00:25:01,332
I made a call to black dog,
649
00:25:01,334 --> 00:25:03,968
which is one of the best
branding agencies
650
00:25:03,970 --> 00:25:07,171
in all of miami
to help me show ana
651
00:25:07,173 --> 00:25:09,240
some new ways
to think about her product,
652
00:25:09,242 --> 00:25:12,376
and what I'm hoping they can do
is show her the possibilities
653
00:25:12,378 --> 00:25:15,546
of what could be done
if she was open-minded.
654
00:25:15,548 --> 00:25:17,314
Ana: Oh, boy.
I'm a little nervous.
655
00:25:17,316 --> 00:25:19,683
John: You shouldn't be nervous.
This is exciting.
656
00:25:19,685 --> 00:25:22,987
We were tasked to kind of
evaluate your product label.
657
00:25:22,989 --> 00:25:24,755
Ana: Okay.
John: But I don't think
658
00:25:24,757 --> 00:25:27,057
that we can do that without
looking at your overall brand,
659
00:25:27,059 --> 00:25:29,293
and it is slightly
all over the place.
660
00:25:29,295 --> 00:25:31,695
Ana: [ chuckles ] yes.
John: You've got a very popular
661
00:25:31,697 --> 00:25:35,199
instagram where you have
"ana qooks" with a "q."
662
00:25:35,201 --> 00:25:38,836
skinny latina does not have your
name forefront on there at all.
663
00:25:38,838 --> 00:25:40,838
We want people to be able
to recommend your product
664
00:25:40,840 --> 00:25:42,706
or recommend your brand.
665
00:25:42,708 --> 00:25:46,343
John: And I have a concern of
the scalability of your product
666
00:25:46,345 --> 00:25:48,012
when you have an illustration
667
00:25:48,014 --> 00:25:51,315
that is almost exactly
like skinnygirl.
668
00:25:51,317 --> 00:25:53,350
♪♪
669
00:25:53,352 --> 00:25:55,185
we're thinking about
taking your script
670
00:25:55,187 --> 00:25:57,288
and really playing up
on the "q" part.
671
00:25:57,290 --> 00:25:58,689
We think it's fun.
672
00:25:58,691 --> 00:26:00,524
We think there's
some elegance to it.
673
00:26:00,526 --> 00:26:03,527
Now the drum roll can happen.
674
00:26:03,529 --> 00:26:05,129
And this is very different.
675
00:26:05,131 --> 00:26:08,365
It's bright, colorful.
676
00:26:08,367 --> 00:26:11,235
Ana: Um...
677
00:26:11,237 --> 00:26:12,469
[ sighs ] okay.
678
00:26:12,471 --> 00:26:13,804
I don't like this.
679
00:26:13,806 --> 00:26:15,806
I think it's really busy.
680
00:26:15,808 --> 00:26:18,075
I hate that the little woman
is not there at all, you know?
681
00:26:18,077 --> 00:26:19,476
I love her.
682
00:26:19,478 --> 00:26:21,912
Lemonis: Does it look bold
and flavorful?
683
00:26:21,914 --> 00:26:24,348
Ana: It does.
It's appealing.
684
00:26:24,350 --> 00:26:26,717
I just don't know that it's me.
Lemonis: Okay.
685
00:26:26,719 --> 00:26:28,619
You know, you become attached
to something,
686
00:26:28,621 --> 00:26:30,621
and so it kind of freaks me out.
John: Yep.
687
00:26:30,623 --> 00:26:32,456
Ana: Oh, I'm going
to start crying.
688
00:26:32,458 --> 00:26:34,825
[ voice breaking ]
oh, god, it's really hard.
689
00:26:34,827 --> 00:26:36,260
Lemonis: I get it.
690
00:26:36,262 --> 00:26:37,828
Ana: It's just so different.
691
00:26:37,830 --> 00:26:42,766
♪♪
692
00:26:42,768 --> 00:26:44,234
would you invest
in my product?
693
00:26:44,236 --> 00:26:45,803
Man #1: I don't think so.
694
00:26:45,805 --> 00:26:46,804
Man #2: Uh, no.
Ana: No?
695
00:26:46,806 --> 00:26:47,771
Man #3: No.
Ana: No?
696
00:26:47,773 --> 00:26:49,273
Man #4: No.
Ana: No?
697
00:26:49,275 --> 00:26:51,241
Woman: No. No.
698
00:26:51,243 --> 00:26:54,144
Man #5: No.
699
00:26:54,146 --> 00:26:54,612
Lemonis: If you're looking to
take your business
700
00:26:54,713 --> 00:26:58,182
ana: [ sniffles ]
it's just so different.
701
00:26:58,184 --> 00:26:59,750
It's like I'm losing myself.
702
00:26:59,752 --> 00:27:03,120
I just worked really hard
without knowing anything,
703
00:27:03,122 --> 00:27:04,655
and that's what I came up with.
704
00:27:04,657 --> 00:27:07,024
And if it's [bleep],
it's [bleep], but it's me.
705
00:27:07,026 --> 00:27:08,659
Lemonis: Any time
I'm looking at a business,
706
00:27:08,661 --> 00:27:10,461
I want to see emotional stakes
707
00:27:10,463 --> 00:27:14,498
that show me that this business
is everything to people.
708
00:27:14,500 --> 00:27:18,469
Ana's reaction proved to me how
much this thing means to her.
709
00:27:18,471 --> 00:27:20,738
Let's try to be objective
for a minute.
710
00:27:20,740 --> 00:27:22,206
Ana: Okay.
Lemonis: Okay?
711
00:27:22,208 --> 00:27:24,041
What I like about
what they did, ana,
712
00:27:24,043 --> 00:27:27,144
is that they clearly marked out
the calorie content,
713
00:27:27,146 --> 00:27:29,313
which people
in the focus group said,
714
00:27:29,315 --> 00:27:30,914
"tell me that it's healthy."
ana: Right.
715
00:27:30,916 --> 00:27:32,483
Lemonis:
Tell my why it's skinny.
716
00:27:32,485 --> 00:27:34,418
And they understood
who the brand really was,
717
00:27:34,420 --> 00:27:36,020
which was you.
718
00:27:36,022 --> 00:27:38,489
From a business standpoint,
ana q is the brand,
719
00:27:38,491 --> 00:27:42,326
and skinny latina is a product
inside of ana q.
720
00:27:42,328 --> 00:27:45,329
Ana: I mean, I want the girl
somewhere, even if she's tiny.
721
00:27:45,331 --> 00:27:47,865
Maybe a more refined version
of that girl.
722
00:27:47,867 --> 00:27:50,401
John: The use of illustration
is not a problem,
723
00:27:50,403 --> 00:27:52,269
but it has to be done well
724
00:27:52,271 --> 00:27:54,371
lemonis: It looks a little bit
like clip art.
725
00:27:54,373 --> 00:27:57,541
If you did a live instagram,
will people comment?
726
00:27:57,543 --> 00:27:58,942
Ana: Yeah, I think so.
Lemonis: Great.
727
00:27:58,944 --> 00:28:00,577
Get your phone out.
Ana: Hi, everyone.
728
00:28:00,579 --> 00:28:04,114
I'm here with the team
from black dog ad agency.
729
00:28:04,116 --> 00:28:08,385
These are the new suggestions
for evolving skinny latina,
730
00:28:08,387 --> 00:28:11,321
and I want to know
what you guys think.
731
00:28:11,323 --> 00:28:13,691
Lemonis: What are people saying?
Ana: "love the new one."
732
00:28:13,693 --> 00:28:16,827
"really like the ana q focus."
"like the new label."
733
00:28:16,829 --> 00:28:19,697
"I like the new label
with no girl." what?!
734
00:28:19,699 --> 00:28:21,231
Lemonis:
Stunning you a little bit?
735
00:28:21,233 --> 00:28:23,300
Ana: So shocking.
Lemonis: What I don't want you
736
00:28:23,302 --> 00:28:26,236
to do is just compromise
because everybody else loves it.
737
00:28:26,238 --> 00:28:28,205
There's a balance between
everybody else love it
738
00:28:28,207 --> 00:28:29,740
and what you love, and, somehow,
739
00:28:29,742 --> 00:28:31,542
you've got to find
the middle of that.
740
00:28:31,544 --> 00:28:33,877
Thank you very much.
Amazing work.
741
00:28:33,879 --> 00:28:39,983
♪♪
742
00:28:39,985 --> 00:28:46,123
♪♪
743
00:28:46,125 --> 00:28:48,392
lemonis: So, today, I'm
at the biltmore hotel in miami
744
00:28:48,394 --> 00:28:51,595
for ana's investor presentation.
745
00:28:51,597 --> 00:28:53,497
Are you freaking out?
746
00:28:53,499 --> 00:28:55,899
Ana: There's a part of me
that's excited,
747
00:28:55,901 --> 00:28:58,402
but mostly I'm terrified.
748
00:28:58,404 --> 00:29:00,504
Lemonis: I told ana
that I wanted to put
749
00:29:00,506 --> 00:29:02,673
a roomful of investors together,
750
00:29:02,675 --> 00:29:05,008
and if she can convince them
about her product,
751
00:29:05,010 --> 00:29:08,278
about her process,
and about her financials,
752
00:29:08,280 --> 00:29:10,581
it they're in, I'll be in.
753
00:29:10,583 --> 00:29:12,015
Ana: Hi.
Man: Hi.
754
00:29:12,017 --> 00:29:13,484
Ana: Welcome.
Man: Thank you.
755
00:29:13,486 --> 00:29:14,952
Ana: I really want you
to try some food.
756
00:29:14,954 --> 00:29:16,353
Lemonis: Yeah, let's do that.
757
00:29:16,355 --> 00:29:18,155
Ana: I've made a few
different things for you
758
00:29:18,157 --> 00:29:20,057
because I wanted to show you
the versatility of the sauce.
759
00:29:20,059 --> 00:29:22,493
Lemonis: I'm kind of blown away
by what ana put together.
760
00:29:22,495 --> 00:29:24,628
She actually put out
a whole section of food
761
00:29:24,630 --> 00:29:27,765
so people can actually taste
the product and validate it.
762
00:29:27,767 --> 00:29:30,334
She looks like she's ready
to really kill it.
763
00:29:30,336 --> 00:29:32,035
Ana: I really came up
with this sauce
764
00:29:32,037 --> 00:29:35,172
when I was a young mom
juggling a growing law practice
765
00:29:35,174 --> 00:29:37,608
and these little girls, and it
was really a time-saver for me.
766
00:29:37,610 --> 00:29:40,010
And now this has become --
skinny latina is my third child.
767
00:29:40,012 --> 00:29:41,345
Lemonis: She knows her story.
768
00:29:41,347 --> 00:29:43,614
She can very well explain
her passion,
769
00:29:43,616 --> 00:29:46,550
but for an investor,
they care about your numbers
770
00:29:46,552 --> 00:29:48,719
because people aren't going to
write a check into a black hole.
771
00:29:48,721 --> 00:29:50,387
They're just not going to do it.
772
00:29:50,389 --> 00:29:53,624
Ana: The condiment market
is growing exponentially.
773
00:29:53,626 --> 00:29:58,862
It's expected that by 2025, it's
going to hit about $174 billion.
774
00:29:58,864 --> 00:30:01,665
I mean, we want a piece
of that, right?
775
00:30:01,667 --> 00:30:04,101
We're on the shelves next
to some of the biggest brands.
776
00:30:04,103 --> 00:30:06,236
I'm at fresh market.
I'm also at whole foods
777
00:30:06,238 --> 00:30:08,138
and at 400 publix stores.
778
00:30:08,140 --> 00:30:11,375
Man #1: Is it a sugar-free
marinade, or is lower calories?
779
00:30:11,377 --> 00:30:13,911
Ana: Yes, it absolutely has
lower calories,
780
00:30:13,913 --> 00:30:16,213
and it has ingredients
that you can pronounce.
781
00:30:16,215 --> 00:30:18,382
Man #2: How attached are you
to the current branding?
782
00:30:18,384 --> 00:30:19,716
Ana: I'm attached to the name
783
00:30:19,718 --> 00:30:21,318
because I think
it's a great name.
784
00:30:21,320 --> 00:30:22,653
Man #2: I'm just thinking,
who's going to, like,
785
00:30:22,655 --> 00:30:24,421
go after this sauce.
786
00:30:24,423 --> 00:30:27,424
I believe it'd be, maybe a woman
like you that worked,
787
00:30:27,426 --> 00:30:28,759
that don't have a lot of time.
788
00:30:28,761 --> 00:30:31,228
But how about a guy
that's like me?
789
00:30:31,230 --> 00:30:33,597
Ana: Actually, I do think men
buy skinny latina.
790
00:30:33,599 --> 00:30:35,799
Lemonis: It's interesting
watching ana's evolution,
791
00:30:35,801 --> 00:30:38,268
because as people are
firing questions at her,
792
00:30:38,270 --> 00:30:40,838
there's some that
she's handling with ease,
793
00:30:40,840 --> 00:30:43,574
and she's not being defensive
and judgmental.
794
00:30:43,576 --> 00:30:44,708
Man #3: What is the growth
potential
795
00:30:44,710 --> 00:30:45,943
that you see in your sauce,
796
00:30:45,945 --> 00:30:47,511
you know,
if we invest, you know?
797
00:30:47,513 --> 00:30:50,347
Ana: Okay, well,
that's a very good question.
798
00:30:50,349 --> 00:30:52,583
I have a three-year growth plan,
799
00:30:52,585 --> 00:30:55,118
and part of it
is expanding to more skus.
800
00:30:55,120 --> 00:30:58,889
I think that's really important
to present to new retailers,
801
00:30:58,891 --> 00:31:00,624
to develop new products,
802
00:31:00,626 --> 00:31:02,793
but I can't do that
without an injection of capital.
803
00:31:02,795 --> 00:31:05,195
Man #4: So, last year,
what were your total sales?
804
00:31:05,197 --> 00:31:07,764
Ana: Last year
we sold 200,000 units.
805
00:31:07,766 --> 00:31:09,366
Man #5: Do you know
the profit of that?
806
00:31:09,368 --> 00:31:12,436
Ana: I think
it was about $116,000.
807
00:31:12,438 --> 00:31:14,872
Man #6: What's your
anticipated net profit for 2019?
808
00:31:14,874 --> 00:31:17,808
Ana: We're kind of on track
for very similar,
809
00:31:17,810 --> 00:31:19,543
maybe a little more.
810
00:31:19,545 --> 00:31:21,745
Lemonis: Do you have a forecast
in your presentation?
811
00:31:21,747 --> 00:31:23,080
Do you have a slide for that?
812
00:31:23,082 --> 00:31:24,882
Ana:
I don't have a slide for that.
813
00:31:24,884 --> 00:31:26,884
Lemonis:
While ana has done well so far,
814
00:31:26,886 --> 00:31:29,052
as we turn the corner
into financials,
815
00:31:29,054 --> 00:31:30,821
the wheels are
falling off the bus,
816
00:31:30,823 --> 00:31:32,656
and they're falling off
the bus fast.
817
00:31:32,658 --> 00:31:34,591
Are there
any financial slides in here
818
00:31:34,593 --> 00:31:37,895
that show revenue per year
and then profit per year?
819
00:31:37,897 --> 00:31:39,496
How much inventory
are you sitting on?
820
00:31:39,498 --> 00:31:41,064
How much cash
are you sitting on?
821
00:31:41,066 --> 00:31:43,000
What are your payables?
How is it going to grow?
822
00:31:43,002 --> 00:31:45,736
How much capital do you need
to actually grow into that?
823
00:31:45,738 --> 00:31:47,971
Ana: No.
Lemonis: Nothing like that?
824
00:31:47,973 --> 00:31:49,239
Ana: No.
825
00:31:49,241 --> 00:31:54,945
♪♪
826
00:31:55,079 --> 00:31:57,681
♪♪
827
00:31:57,683 --> 00:31:59,650
lemonis: Are there any financial
extrasslides in hereadvice,
828
00:31:59,652 --> 00:32:02,286
that show revenue, margin,
expenses?
829
00:32:02,288 --> 00:32:04,288
Ana: No.
830
00:32:04,290 --> 00:32:05,989
I mean, I can -- listen, guys.
831
00:32:05,991 --> 00:32:08,659
I can't give you exact numbers
because I've been --
832
00:32:08,661 --> 00:32:10,327
this is just me.
833
00:32:10,329 --> 00:32:13,964
I haven't been great at,
you know, just doing all this,
834
00:32:13,966 --> 00:32:15,966
you know, perfectly
financial things,
835
00:32:15,968 --> 00:32:17,501
and he's wincing, and I'm sorry.
836
00:32:17,503 --> 00:32:19,636
But I'm not going to lie
to you, either,
837
00:32:19,638 --> 00:32:23,307
because, you know,
I have to be honest.
838
00:32:23,309 --> 00:32:25,342
Lemonis: I told her that
if other people didn't buy
839
00:32:25,344 --> 00:32:28,145
into what she was doing,
I wouldn't move forward,
840
00:32:28,147 --> 00:32:31,648
and right now, nobody in
the room is buying off on this.
841
00:32:31,650 --> 00:32:33,350
What I thought we could do now,
842
00:32:33,352 --> 00:32:35,485
this is where it's a little
awkward, but I'd like --
843
00:32:35,487 --> 00:32:36,853
ana: This is
a little awkward now?
844
00:32:36,855 --> 00:32:38,555
Lemonis:
No, what we're going to do now.
845
00:32:38,557 --> 00:32:40,891
Ana: Okay. Because it's been
awkward the whole time.
846
00:32:40,893 --> 00:32:43,427
[ laughter ]
lemonis: Not for me. I'm fine.
847
00:32:43,429 --> 00:32:45,329
Ana: I just don't -- you're
right. Of course.
848
00:32:45,331 --> 00:32:47,431
Lemonis: What I'd like you to do
is go around the room.
849
00:32:47,433 --> 00:32:49,199
We want to understand
from people,
850
00:32:49,201 --> 00:32:51,969
would you invest in this company
based on this presentation.
851
00:32:51,971 --> 00:32:53,870
It's a yes or a no.
852
00:32:53,872 --> 00:32:56,873
Ana: Based on my presentation,
would you invest in my product?
853
00:32:56,875 --> 00:32:58,775
Man #1: Yeah, I don't think so.
Man #2: Uh, no.
854
00:32:58,777 --> 00:33:00,177
Ana: No?
Man #3: No.
855
00:33:00,179 --> 00:33:01,645
Ana: No?
Man #4: No.
856
00:33:01,647 --> 00:33:04,014
Ana: No?
Woman #1: No.
857
00:33:04,016 --> 00:33:06,216
Woman #2: No. No.
858
00:33:06,218 --> 00:33:09,019
Man #5: No.
Lemonis: Okay.
859
00:33:09,021 --> 00:33:12,189
So, if you asked the question
differently and said,
860
00:33:12,191 --> 00:33:13,991
take the numbers out
of the equation,
861
00:33:13,993 --> 00:33:16,526
would you invest in me
and the product?
862
00:33:16,528 --> 00:33:19,363
Ana: Okay. Paul, would you
invest in me and the product?
863
00:33:19,365 --> 00:33:20,864
Paul: Yes.
Ana: Yes.
864
00:33:20,866 --> 00:33:22,299
Would you invest in me
and the product?
865
00:33:22,301 --> 00:33:23,567
Woman #3: Yes.
Man #6: Yes.
866
00:33:23,569 --> 00:33:24,534
Ana: Yes?
Man #7: Yes.
867
00:33:24,536 --> 00:33:25,635
Ana: Yes?
Man #8: Yes.
868
00:33:25,637 --> 00:33:26,970
Ana: Yes?
Man #9: Yes.
869
00:33:26,972 --> 00:33:29,439
Ana: Really? Yes.
Woman #4: Absolutely.
870
00:33:29,441 --> 00:33:30,807
Man #10: It's be a yes
with some conditions.
871
00:33:30,809 --> 00:33:33,710
Ana: Yes.
Lemonis: Okay, so, what --
872
00:33:33,712 --> 00:33:35,379
okay, but what is
the difference
873
00:33:35,381 --> 00:33:37,414
between the "noes"
and the "yeses"?
874
00:33:37,416 --> 00:33:39,950
Ana: The fact that I wasn't
solid on my numbers.
875
00:33:39,952 --> 00:33:43,253
Lemonis: People in the room were
excited by what was there --
876
00:33:43,255 --> 00:33:44,721
the fact that she was in public,
877
00:33:44,723 --> 00:33:46,490
the fact that they liked
the way it tastes.
878
00:33:46,492 --> 00:33:49,593
She had had a lot of success,
but what people kept saying
879
00:33:49,595 --> 00:33:51,261
to her is the same thing
I'm saying --
880
00:33:51,263 --> 00:33:53,830
when you get your numbers
together,
881
00:33:53,832 --> 00:33:55,599
we'll take a look at it.
882
00:33:55,601 --> 00:33:58,335
The one thing that I thought
you did really well today is
883
00:33:58,337 --> 00:34:00,337
for the first time
that we've been together,
884
00:34:00,339 --> 00:34:05,342
you didn't judge anybody
that was asking you questions,
885
00:34:05,344 --> 00:34:07,911
and that, to me,
was the biggest win.
886
00:34:07,913 --> 00:34:10,814
I feel like we've made progress,
but in terms of me
887
00:34:10,816 --> 00:34:12,949
investing right now,
I'm not there yet.
888
00:34:12,951 --> 00:34:16,286
Ana: Okay.
I'm okay with "yet."
889
00:34:16,288 --> 00:34:19,156
lemonis: Well...That's good.
890
00:34:19,158 --> 00:34:24,227
♪♪
891
00:34:24,229 --> 00:34:25,929
I assigned ana a variety
892
00:34:25,931 --> 00:34:27,764
of things to do
while I was gone.
893
00:34:27,766 --> 00:34:30,500
I want her to work on refining
the packaging with black dog,
894
00:34:30,502 --> 00:34:32,469
and I really want her
to get to a conclusion
895
00:34:32,471 --> 00:34:34,771
that everybody can live with,
including her.
896
00:34:34,773 --> 00:34:38,475
♪♪
897
00:34:38,477 --> 00:34:40,544
I also want her to go back
to the drawing board
898
00:34:40,546 --> 00:34:43,146
and start working on her numbers
to put the forecast together
899
00:34:43,148 --> 00:34:46,850
to get the margins right
so that she is dialed in.
900
00:34:46,852 --> 00:34:50,220
♪♪
901
00:34:50,222 --> 00:34:52,789
the last thing I want to do
before we move forward
902
00:34:52,791 --> 00:34:55,659
is to have ana submit
her product to a food lab
903
00:34:55,661 --> 00:34:57,661
because in order for me
to invest or for me
904
00:34:57,663 --> 00:34:59,629
to be comfortable
with being associated with it,
905
00:34:59,631 --> 00:35:01,865
I want to know that everything
that's in the bottle
906
00:35:01,867 --> 00:35:04,334
and on the label
is factually correct.
907
00:35:04,336 --> 00:35:09,806
Man: The nutritional content,
caloric content was 18.5.
908
00:35:09,808 --> 00:35:11,308
Lemonis: Okay.
909
00:35:11,310 --> 00:35:13,577
Man: It tested negative
for the presence of soy,
910
00:35:13,579 --> 00:35:17,514
and expressed to gluten
is less than 5 ppm.
911
00:35:17,516 --> 00:35:19,182
Lemonis:
So, it would qualify...?
912
00:35:19,184 --> 00:35:21,051
Man: As gluten-free.
Lemonis: Well this is great.
913
00:35:21,053 --> 00:35:23,487
Now I feel more legitimate.
914
00:35:23,489 --> 00:35:32,262
♪♪
915
00:35:32,264 --> 00:35:34,231
ana: Hi, how are you guys?
Mike: How are you?
916
00:35:34,233 --> 00:35:36,199
Ana: Nice to meet you.
Mike: Hi, mike.
917
00:35:36,201 --> 00:35:37,901
Lemonis: Contemporary marketing
is a company
918
00:35:37,903 --> 00:35:40,403
that I use
to launch products to market.
919
00:35:40,405 --> 00:35:42,072
If ana can land this meeting
920
00:35:42,074 --> 00:35:45,375
and have contemporary agree
to rep her marinade,
921
00:35:45,377 --> 00:35:48,712
she'll have exposure to grocery
stores across the country.
922
00:35:48,714 --> 00:35:50,947
Not selling 100,000 bottles,
923
00:35:50,949 --> 00:35:53,183
she has the potential
of selling a million bottles.
924
00:35:53,185 --> 00:35:57,287
Ana: Okay. So, four skus
of a brand called skinny latina,
925
00:35:57,289 --> 00:35:59,055
and they're marinades
and sauces.
926
00:35:59,057 --> 00:36:01,925
Lemonis: This is a one,
last try because
927
00:36:01,927 --> 00:36:04,094
if she can't get
the numbers right here,
928
00:36:04,096 --> 00:36:05,996
I may have to just move on.
929
00:36:05,998 --> 00:36:07,697
Ana: The label
was kind of confusing.
930
00:36:07,699 --> 00:36:09,199
It's like, "skinny latina,
what does that mean?
931
00:36:09,201 --> 00:36:10,867
What does it do?
What does it taste like?"
932
00:36:10,869 --> 00:36:12,602
mike:
It is a little weak. Yeah.
933
00:36:12,604 --> 00:36:14,938
Lemonis: I connected her
with a marketing agency
934
00:36:14,940 --> 00:36:16,606
in south florida
that worked on a rebranding,
935
00:36:16,608 --> 00:36:17,874
and I'd like her to show you
936
00:36:17,876 --> 00:36:19,809
where we're thinking
about going.
937
00:36:19,811 --> 00:36:22,812
This is what is
and what it's transformed into.
938
00:36:22,814 --> 00:36:25,448
Man: All of them pop better.
Mike: Yeah, that's weak.
939
00:36:25,450 --> 00:36:27,150
That's confusing.
940
00:36:27,152 --> 00:36:30,253
I mean, this clearly states
the brand and the product.
941
00:36:30,255 --> 00:36:33,523
You know, the hot sauce, the
barbecue sauce, the marinade.
942
00:36:33,525 --> 00:36:35,125
I like it.
943
00:36:35,127 --> 00:36:37,294
Lemonis: So, I want you
to take mike and the team
944
00:36:37,296 --> 00:36:39,229
through your numbers so they can
understand the financials
945
00:36:39,231 --> 00:36:40,931
to understand
how strong the business is.
946
00:36:40,933 --> 00:36:46,269
Ana: So, in 2018 our total
revenue was $94,824.80,
947
00:36:46,271 --> 00:36:49,806
which left us
a gross profit of $35,056.03.
948
00:36:49,808 --> 00:36:53,577
I sell all three of
these products for $3.30 a unit.
949
00:36:53,579 --> 00:36:56,346
A bottle of marinade
from the co-packer costs me
950
00:36:56,348 --> 00:36:58,949
$1.91, including labels
and costs,
951
00:36:58,951 --> 00:37:01,952
and the margins on this
is 42.12%.
952
00:37:01,954 --> 00:37:05,922
The barbecue sauces, the mango,
it's $1.72 to make it,
953
00:37:05,924 --> 00:37:08,858
so it's 47.88%.
954
00:37:08,860 --> 00:37:11,094
Lemonis: The way that you're
speaking about your margins
955
00:37:11,096 --> 00:37:13,196
and the costs, you're like
a whole different person.
956
00:37:13,198 --> 00:37:15,365
Ana: Thank you.
So, is this something
957
00:37:15,367 --> 00:37:18,201
you guys would consider taking,
skinny latina and me on
958
00:37:18,203 --> 00:37:21,204
as a customer
and helping me grow this thing?
959
00:37:21,206 --> 00:37:24,307
♪♪
960
00:37:24,309 --> 00:37:25,308
mike: We definitely would.
961
00:37:25,310 --> 00:37:26,876
Ana: Yes.
Mike: Yeah.
962
00:37:26,878 --> 00:37:28,979
Ana: Thank you so much.
That really means a lot.
963
00:37:28,981 --> 00:37:31,314
Lemonis:
I was stunned by this meeting --
964
00:37:31,316 --> 00:37:33,316
her professionalism,
965
00:37:33,318 --> 00:37:34,884
the presentation
of the new branding,
966
00:37:34,886 --> 00:37:37,454
the quality of financial data
that she brought.
967
00:37:37,456 --> 00:37:40,724
I was even wondering if it was,
like, an ana impersonator.
968
00:37:40,726 --> 00:37:42,225
Awesome job.
Ana: I had a positive attitude,
969
00:37:42,227 --> 00:37:43,660
and it went well.
970
00:37:43,662 --> 00:37:45,128
Lemonis: You get a high five
on that one.
971
00:37:45,130 --> 00:37:46,463
You did it. I'm proud of you.
972
00:37:46,465 --> 00:37:47,998
Very proud of you.
Ana: Thank you.
973
00:37:48,000 --> 00:37:56,339
♪♪
974
00:37:56,341 --> 00:37:57,841
I'm ready to sit down with ana
975
00:37:57,843 --> 00:37:59,843
and really consider
doing a deal with her
976
00:37:59,845 --> 00:38:02,412
because I feel like she's done
every single thing
977
00:38:02,414 --> 00:38:03,680
that I've asked her to.
978
00:38:03,682 --> 00:38:05,382
How are you?
Ana: I'm good.
979
00:38:05,384 --> 00:38:07,150
Lemonis: Good to see you.
980
00:38:07,152 --> 00:38:09,853
And while she maybe rolled her
eyes a few times or pushed back,
981
00:38:09,855 --> 00:38:12,188
in the end,
she made the changes.
982
00:38:12,190 --> 00:38:14,858
She made the progress.
She deserves a shot.
983
00:38:14,860 --> 00:38:17,160
And, so, for me, when I look at
a business
984
00:38:17,162 --> 00:38:20,330
and I think about
a proof of concept,
985
00:38:20,332 --> 00:38:23,566
with no real resources
and no real training,
986
00:38:23,568 --> 00:38:26,202
you were able to get
into major retailers
987
00:38:26,204 --> 00:38:30,040
and do almost a quarter
of a million bottles
988
00:38:30,042 --> 00:38:31,708
of some sauce
that nobody has ever heard of.
989
00:38:31,710 --> 00:38:33,009
Ana: [ chuckles ] right.
990
00:38:33,011 --> 00:38:34,644
Lemonis:
And, so, here's the thing.
991
00:38:34,646 --> 00:38:40,050
You have earned the badge
as a successful entrepreneur.
992
00:38:40,052 --> 00:38:42,052
So, one of the things
that I said to you was,
993
00:38:42,054 --> 00:38:43,787
through this process,
994
00:38:43,789 --> 00:38:47,557
is if you can get somebody else
to invest, I'll invest.
995
00:38:47,559 --> 00:38:50,360
Ana: Yeah. Right.
Lemonis: So, how's that working?
996
00:38:50,362 --> 00:38:52,128
Ana: It's working okay.
997
00:38:52,130 --> 00:38:54,931
I mean, there's somebody here
that wants to meet with us.
998
00:38:54,933 --> 00:38:56,599
Lemonis: One of the people
that ana invited
999
00:38:56,601 --> 00:38:58,802
to her investor conference
a few weeks ago
1000
00:38:58,804 --> 00:39:00,270
was her friend, nick molina.
1001
00:39:00,272 --> 00:39:01,571
Ana: Hi, nick.
Thanks for coming.
1002
00:39:01,573 --> 00:39:03,206
Nick: Hi, how are you?
1003
00:39:03,208 --> 00:39:04,808
Lemonis: Nick, how are you, sir?
Nick: Good to see you.
1004
00:39:04,810 --> 00:39:06,776
Lemonis: Nick is miami-based
and has a track record
1005
00:39:06,778 --> 00:39:08,278
of successful startups.
1006
00:39:08,280 --> 00:39:10,580
This is a real
serial entrepreneur.
1007
00:39:10,582 --> 00:39:13,450
I'm curious to see if ana can
actually negotiate
1008
00:39:13,452 --> 00:39:15,118
with the both of us.
1009
00:39:15,120 --> 00:39:17,887
Ana: So, we've already talked
about the possibility
1010
00:39:17,889 --> 00:39:20,757
of nick investing.
Lemonis: Yeah?
1011
00:39:20,759 --> 00:39:23,426
Ana: So, do you think you want
to invest in my business.
1012
00:39:23,428 --> 00:39:25,595
Nick: Well,
I mean this in the nicest way,
1013
00:39:25,597 --> 00:39:29,065
but I think you need me
to be honest with you.
1014
00:39:29,067 --> 00:39:30,667
You've got a great product.
1015
00:39:30,669 --> 00:39:32,902
I think I can add
a tremendous amount of value.
1016
00:39:32,904 --> 00:39:36,272
Ana: My next concern is, like,
numbers and percentages, and --
1017
00:39:36,274 --> 00:39:38,174
lemonis: Well,
let's back up for a second.
1018
00:39:38,176 --> 00:39:42,112
What's the company worth
in your mind today?
1019
00:39:42,114 --> 00:39:46,116
Ana:
Skinny latina is worth $500,000
1020
00:39:46,118 --> 00:39:48,618
based on five times revenue,
1021
00:39:48,620 --> 00:39:51,521
which last year
was close to $100,000.
1022
00:39:51,523 --> 00:39:54,624
Lemonis:
A half a million dollars?
1023
00:39:54,626 --> 00:39:58,428
Ana: Yeah. There's risk
for everybody here, marcus.
1024
00:39:58,430 --> 00:40:00,964
Lemonis: Not for me.
I haven't written a check yet.
1025
00:40:00,966 --> 00:40:02,999
♪♪
1026
00:40:03,001 --> 00:40:04,501
ana: We need to do a rebranding.
1027
00:40:04,503 --> 00:40:06,503
We need to do
a full rollout, but --
1028
00:40:06,505 --> 00:40:08,705
lemonis: The first amount
of money needs to go into what?
1029
00:40:08,707 --> 00:40:10,106
Ana: Into inventory.
Lemonis: Okay, great.
1030
00:40:10,108 --> 00:40:11,474
So, start there.
1031
00:40:11,476 --> 00:40:13,476
Ana: I don't think $75,000
is enough money.
1032
00:40:13,478 --> 00:40:16,012
Lemonis: That is the best
you're going to get from me.
1033
00:40:18,048 --> 00:40:20,617
♪♪
1034
00:40:20,619 --> 00:40:24,087
lemonis:
A half a million dollars?
1035
00:40:24,089 --> 00:40:27,924
Ana: Yeah. There's risk
for everybody here, marcus.
1036
00:40:27,926 --> 00:40:31,961
Lemonis: Not for me.
I haven't written a check yet.
1037
00:40:31,963 --> 00:40:34,497
Ana: The way that you invest,
to my understanding,
1038
00:40:34,499 --> 00:40:36,666
is that you invest
in the process
1039
00:40:36,668 --> 00:40:38,802
and the product and the people.
1040
00:40:38,804 --> 00:40:40,870
It's a great product.
1041
00:40:40,872 --> 00:40:42,705
What's my value, right?
1042
00:40:42,707 --> 00:40:45,208
Lemonis: Are you asking me that?
Ana: No, I know what it is.
1043
00:40:45,210 --> 00:40:46,643
Lemonis: Well, what is it?
1044
00:40:46,645 --> 00:40:49,312
Ana:
It's a lot more than $500,000.
1045
00:40:49,314 --> 00:40:52,348
Lemonis: That confidence
is what I love about you.
1046
00:40:52,350 --> 00:40:53,850
What do you think
the investment should be?
1047
00:40:53,852 --> 00:40:58,021
Ana:
I think $200,000 for 40%.
1048
00:40:58,023 --> 00:40:59,189
We need to do a rebranding.
1049
00:40:59,191 --> 00:41:00,723
We need to do a full rollout.
1050
00:41:00,725 --> 00:41:02,826
Lemonis: When I first met you,
you said to me,
1051
00:41:02,828 --> 00:41:05,862
"I have grocery stores
who want the product,
1052
00:41:05,864 --> 00:41:07,730
and I don't have the capital
to give it to them."
1053
00:41:07,732 --> 00:41:10,033
the first amount of money
needs to go into what?
1054
00:41:10,035 --> 00:41:11,734
Ana: Into inventory.
Lemonis: Okay, great.
1055
00:41:11,736 --> 00:41:13,903
So, start there. Okay?
1056
00:41:13,905 --> 00:41:15,705
The deal
that I'm willing to make
1057
00:41:15,707 --> 00:41:19,275
is to agree
to your $500,000 number.
1058
00:41:19,277 --> 00:41:23,813
I would want to lock
that valuation up for 12 months,
1059
00:41:23,815 --> 00:41:27,016
and I would want to have
the right to invest up
1060
00:41:27,018 --> 00:41:30,920
to $125,000
for 25% of the company
1061
00:41:30,922 --> 00:41:36,493
and no less than $75,000,
15% of the company.
1062
00:41:36,495 --> 00:41:39,863
So, what it does for me
is it gives me the flex
1063
00:41:39,865 --> 00:41:45,435
to go from $75,001 to $125,000,
but if at some point,
1064
00:41:45,437 --> 00:41:47,737
I feel like the wheels
are coming off the bus,
1065
00:41:47,739 --> 00:41:51,574
I can mitigate my risk
for the other 50.
1066
00:41:51,576 --> 00:41:55,845
And your progress and your
performance and your results
1067
00:41:55,847 --> 00:41:58,548
would determine whether I would
go from $75,000 to $80,000
1068
00:41:58,550 --> 00:42:00,450
to $90,000 to $125,000.
Ana: Right.
1069
00:42:00,452 --> 00:42:04,020
Lemonis: That is the best
you're going to get from me.
1070
00:42:04,022 --> 00:42:06,556
Ana: I do think
it's a fair offer.
1071
00:42:06,558 --> 00:42:07,924
The only problem I see there is
1072
00:42:07,926 --> 00:42:11,594
that I don't think $75,000
is enough money.
1073
00:42:11,596 --> 00:42:13,763
Nick: Listen, ana. Let me jump
in here for a second.
1074
00:42:13,765 --> 00:42:15,298
You're short $75,000
1075
00:42:15,300 --> 00:42:17,233
from the $200,000
you were asking for, right?
1076
00:42:17,235 --> 00:42:20,236
He's committing
up to $125,000, okay?
1077
00:42:20,238 --> 00:42:23,940
I'll jump in for the remaining
$75,000 with the same premise.
1078
00:42:23,942 --> 00:42:27,911
I want to mitigate through
the same percentages as marcus'.
1079
00:42:27,913 --> 00:42:30,079
♪♪
1080
00:42:30,081 --> 00:42:32,115
ana: Okay.
1081
00:42:32,117 --> 00:42:34,217
♪♪
1082
00:42:34,219 --> 00:42:36,886
that sounds...Like a good plan,
1083
00:42:36,888 --> 00:42:40,523
and I feel kind of really
fortunate to have both of you.
1084
00:42:40,525 --> 00:42:43,059
Lemonis: I think
ana really proved herself,
1085
00:42:43,061 --> 00:42:44,794
and there are plenty
of entrepreneurs
1086
00:42:44,796 --> 00:42:47,230
who just need a shot,
and they need a chance.
1087
00:42:47,232 --> 00:42:48,932
In this case, she needed
the opportunity,
1088
00:42:48,934 --> 00:42:51,834
but she also needed some
tough love and some direction.
1089
00:42:51,836 --> 00:42:53,469
I think this idea
of her feeling like
1090
00:42:53,471 --> 00:42:55,672
she was a victim
turned into her feelings
1091
00:42:55,674 --> 00:42:57,674
like she was a champion
of her own product,
1092
00:42:57,676 --> 00:43:01,177
and, honestly,
I think she's a badass.
1093
00:43:01,179 --> 00:43:03,179
So, do we have a deal?
Ana: Yes, we have a deal.
1094
00:43:03,181 --> 00:43:05,481
Lemonis: Okay. We have a deal?
Nick: We have a deal.
1095
00:43:05,483 --> 00:43:07,850
Lemonis: Great.
Ana: Thank you.
1096
00:43:07,852 --> 00:43:09,586
Neiman marcus, here I come.
1097
00:43:09,588 --> 00:43:11,254
Lemonis: That's --
I wouldn't lead with that.
1098
00:43:11,256 --> 00:43:13,122
[ laughter ]
1099
00:43:13,124 --> 00:43:15,158
ultimately,
what I want ana to have
1100
00:43:15,160 --> 00:43:18,194
is a million-dollar business,
not a million-dollar marinade.
1101
00:43:18,196 --> 00:43:21,264
Cheers.
Ana: Cheers. Thank you.
1102
00:43:21,266 --> 00:43:23,166
Lemonis: You did good, lady.
1103
00:43:23,168 --> 00:43:27,337
♪♪
98211
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