Tuesday, September 20, 2016

The Profit - Honest Foods Update

Tonight on The Profit Marcus Lemonis is in Chicago, Illinois with hopes of making a deal with Honest Foods. Honest Foods is an almost 20-year-old catering company owned by Tad Devlin that caters large events and also has a food truck.  When Marcus is evaluating the business, he finds out that Tad is a bit of a control freak and has problems trusting employees to do their job.

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

News and Links Related To The Company:
  • Here is the Honest Foods website and Facebook Page which is advertising the show tonight and says there will be live commentary during the show. (Update - it seems they took the post about live commentary down)
  • Here are the Yelp reviews for Honest Foods which are VERY good with pretty much a 5-star average (out of 5) with 50+ reviews.
  • A recent article in The Chicago Tribune has information provided by Tad about the show such as:
    • Despite The Profit advertising a steep drop in sales, sales have actually increased in each of the past five years ($1.3 million last year).
    • Honest Foods does a lot of catering for films and TV shows including Showtime's Shameless.
    • They applied to be on the show in hopes of growing and acquiring a larger kitchen.

The Deal From The Episode Plus Post-Show Updates (this will be updated continually):
  • The Deal - 300k for 33% of the business to help pay things off and to diversify the business.
  • Right now it looks like the food truck is only available for private events.  The menus for Pono Sweet Truck and Melt Down can be found here.
  • The current website was just launched today as the website looked different earlier in the day/week.
  • According to an article after the episode aired, the food trucks are still awaiting approval so are not operating at the moment.

*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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