Tuesday, July 7, 2015

The Profit - The Lano Company Update

Tonight on The Profit Marcus Lemonis is in Kansas City, Missouri  with hopes of making a deal with The Lano Company.  The Lano Company is a cosmetic company that uses lanolin in its lip balm products.  The company grew from owner Miranda Coggin's kitchen in 2005 into a business with over $3 million in revenue.  Despite the high sales, the owners keep expanding into new products and have issues with their branding.  The Lano Company is currently making a profit, but believe they have a lot of room to grow.
Let's take a look at some information related to The Lano Company as well as what kind of deal was made on the show.

News and Links Related To The Company:

  • Here is The Lano Company business profile video and an extended sneak peak of the episode from the CNBC website.
  • Here is The Lano Company website (which now redirects to the Pure Cosmetics website), a Pure Cosmetics website and Glam Cosmetics website which are product lines of the company.  Also, here is a Lano Lip website.
  • Here is their Facebook Page which is promoting the upcoming The Profit episode, and here is their Twitter page.
  • Here is an article from 2011 that has a lot of background on the company, how it was created,  and how it has grown.  It also talks about the troubles along the years such as large amounts of unsold inventory.
  • The company's products are available on Amazon - Here are the Pure Illumination Products and The Lano Company Products.  Most of the reviews are in the 4 to 5 star (out of 5) range.

The Deal From The Episode Plus Post-Show Updates (this will be updated continually):
  • Initial Offer - $500,000 to be used as working capital for 30% of the business.  This was countered with $500,000 for 20% of the business.
  • The Deal - $500,000 for 20% of the business, where Marcus gets 10% of his money back for ten years until the $500,000 is reached ($50,000 per year).  They will also share the profits 80% to 20% with Marcus getting 20%.
  • Here is a link to the new website - Pure Lano.  Also, here is a link to their new Facebook Page.

*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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