Tuesday, June 23, 2015

The Profit - Grafton Furniture Update

Tonight on The Profit Marcus Lemonis is in Miami, Florida with hopes of making a deal with Grafton Furniture.  Grafton Furniture is a high-end custom furniture business that has been in business for over 50 years.  They are fairly successful but think they can improve and expand by improving their process.  They are still using older equipment  and the owner is resistant to change, but they would like to decrease their lead time in making the custom furniture.

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

News and Links Related To The Company:
  • Here is the Grafton Furniture Facebook Page
  • Here is the Grafton Furniture website, which was redesigned and now features The American Dream Collection.
  • Here is an extended sneak peak of the episode and a business profile video of Grafton Furniture from the CNBC website. 
  • Here are some reviews for Grafton Furniture on Houzz.com and they are all positive.
  • Marcus has said that this episode may be his favorite episode ever of The Profit
  • Here is an article in the Miami Herald that has an interview with Marcus Lemonis about this episode.  Some things revealed:
    • Grafton, which specializes in high-end custom pieces, was doing pretty good financially, but Marcus decided the clientele needed to expand.  He did this by changing the product and creating a new line of furniture that is non-custom called The American Dream.
    • Marcus found a warehouse and turned it into a state of the art factory and invested about $1.5 million in the business.

The Deal From The Episode Plus Post-Show Updates (this will be updated continually):  
  • The Deal - $1.5 million for 45% of the business, full financial control, and 100% say on Steven's role in the business.
  • The state of the art factory referenced above is probably be the showroom that was renovated, so I will find out if that is the case or if there is a new location. 
  • On June 15, 2015 Steve Grafton was pictured with Direct Buy's Vice President of Merchandising, so the deal to sell The American Dream Collection probably went through. (Link
  • Sadly founder Esteban Grafton passed away on July 1st, 2015.
  • Grafton Furniture merged with Pacific Hospitality Design (season 5 of The Profit) in Los Angeles, CA.  

*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

No comments:

Post a Comment