Tuesday, June 2, 2015

The Profit - Standard Burger Update

On tonight's episode of The Profit, Marcus Lemonis is in Staten Island, New York with the hopes of making a deal with Standard Burger.  Standard Burger is a burger restaurant co-owned by four friends who no longer get along.  They all have other jobs and no one is there to run the day-to-day operations of the restaurant.  The restaurant is losing $5,000 to $6,000 a month, and Sammy(an owner) has been emailing Marcus Lemonis for two years trying to get on The Profit.

Let's take a look at some information related to Standard Burgers as well as what kind of deal was made on the show.


 News and Links Related To The Company:
  • Here is the Standard Burger website and their menu.  For some reason the domain name has an 'S' on the end of burger and the address is www.standardburgers.com.
  • The cupcakes on the menu are now from Crumbs Bake Shop and the ice cream is from Mr. Green Tea, which are also owned by Marcus Lemonis. (Link)
  • Here is the Standard Burger Facebook page and Twitter page.
  • Here is the extended sneak peak and the business profile video of Standard Burger from the CNBC website.
  • An article about the episode said that Marcus Lemonis invested $500,000 in the business and that Sammy Lazoja emailed him every day for over two years with about 1,000 total emails.
  • Standard Burger is having a grand re-opening party on June 6th.
  • Here are some pictures of Standard Burger after The Profit visit.
  • Here are the most recent Yelp reviews, which are not that great.  There are a lot of complaints about high prices and some complaints about the limited menu.
  • In a recent interview with owner Joe after the makeover, he said they were trying to get on the show since they opened in 2012.  Also since The Profit was filmed, the relationship between all of the owners has been much better.  His goal is to have Standard Burgers in every major city.
  • Pretty random, but Joe was a contestant on The Newlywed Game.


The Deal From The Episode Plus Post-Show Updates (this will be updated continually):

  • The Deal - $15,000 for each of the owners and $130,000 to pay past due bills and put money in the bank for 30% of the business.  Fuji needed to be apart of the deal and was given 10% of the business. 
  • The website is new and Standard Burger has a new logo.
  • Fifty-two seats were added outside to increase business during the warmer months.
  • Standard Burger no longer carries any frozen food. (Link
  • The address of Standard Burger came up in a real estate listing and it appears the property is listed for sale at $2,100,000. (Link
  • Marcus owns the rights to the restaurant concept across the country. (Link
    • Update - He will own 85% of any new Standard Burger locations. (Link
  • June 15th update from CNBC site - Business is increasing steadily and they are doing $4,500 to $5,000 a day.  They are also looking to open another location. 
  • In August 2015, Standard Burger won best burger in a "Battle of the Burger" challenge in NYC.  Marcus Lemonis was there and there is a vote by the attendees to determine the winner, so his presence and the Standard Burger crew going around for votes probably helped. (Link
  • Updates from 12/1/2015 Standard Burger Update Episode:
    • Marcus has now invested over $400,000 in Standard Burger to make it a model for a national franchise. 
    • Marcus made Joe step down from his managerial job, but he is still a partner in the business. 
    • Marcus claims the $15 hot dogs are selling like hot cakes. (Link)

  
*To see how all of the businesses from The Profit are doing, go to the The Profit Updates page, and also Like us on Facebook or Follow Us on Twitter  to stay up to date with all things involving The Profit.

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