Tuesday, November 26, 2019

The Profit - Polar Bear Coolers Update

Tonight on The Profit, Marcus Lemonis is in Atlanta, Georgia to make a deal with Polar Bear Coolers.  Polar Bear Coolers is a company specializing in soft-sided coolers.  Sales at Polar Bear Coolers have been declining and the owner Strud Nash does not respect his employees.  While Marcus is there, he also discovers Polar Bear Coolers has poor inventory management and terrible marketing.

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

News and Links Related To The Company:

  • Here is a 7-minute preview video of the episode from the CNBC YouTube page.
  • Here is the Polar Bear Coolers website and Facebook page
    • The new website launched in early November 2019. (Link)
    • The website has snowflakes cascading down, which can get kind of annoying while you are looking at it or reading things.
    • The Polar Bear website is offering sales on some coolers through Cyber Monday and they also have their new hard coolers available for pre-order.
  • Polar Bear Coolers sells a large variety of their coolers on Amazon. (Link)
  • Polar Bear Coolers are also for sale at many online retailers such as Target, Walmart, Camping World (Marcus' company), etc.

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

  • The Deal  - A $540,000 line of credit for the business at a 5% interest rate.  This money would help build inventory and the credit would be paid out of the profit of the goods sold.  Marcus would also get 25% equity in the business.
  • Here is a 5-minute video and story where owner Strud Nash talks about his experience on the show and how he is thankful they included his sister Brett in everything.  He also talks about the process of adding shelves to the warehouse and how he was against it at first, but now he likes it after the fact. (Link).
  • Polar Bear Coolers posted this message on their Facebook page the day their episode aired: "Today is the day #TEAMPOLARBEAR!! Over the last 18 years, we have pioneered the performance soft cooler industry. At 12:00 PM EST, our presale opens for Polar Bear Hard Coolers. Tonight at 10:00 PM EST we appear on CNBC The Profit so make sure you look for our watch party and tune in. Our entire pricing has been revamped to match some of the biggest competition in the industry and we have a special gift for you. From now through Cyber Monday take an additional 20% off our already low prices on our entire website simply use code 𝐓𝐇𝐄𝐏𝐑𝐎𝐅𝐈𝐓 at checkout. Are you ready for a cool relation? 😎"

*To see how all of the businesses from The Profit are doing, go to the The Profit Updates page. 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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