Tuesday, December 17, 2019

The Profit - Las Vegas Mini Grand Prix Update

Tonight on The Profit, Marcus Lemonis is in Las Vegas, Nevada to make a deal with Las Vegas Mini Grand Prix.  Las Vegas Mini Grand Prix is a family fun center that has go-karting and an amusement park.  When Marcus arrives, he likes the location but finds that the property is not being cared for.  The owners also do not own the land where the business is located and the rent is causing liquidity issues.

Let's take a look at some information related to Las Vegas Mini Grand Prix as well as what kind of deal was made on the show.

News and Links Related To The Company:

  • Here is a video of the first seven minutes of the episode from the CNBC YouTube page.
  • Here is the Las Vegas Mini Grand Prix website and Facebook page.  
    • There is daily pricing for activities depending on what you want to do while you are there.
    • They offer multiple different 90-day passes ranging from $199 to $499.
  • There was a Grand Reopening Party on October 25th, 2019. (Link)
  • There are over 250 reviews for Las Vegas Mini Grand Prix on Yelp with a 3.5-star average. (Link)  They have a 4-star rating on Tripadvisor. (Link)
  • For those of you that have children and know who Blippi is, he posted a video at Las Vegas Mini Grand Prix in 2018.  That video currently has about 31 million views.
  • Taylor Barton was involved with competitive racing and here is his racing website.
  • The Barton's have a website called The Barton Method.  The Barton Method is "A personal growth program for lasting change."  There are three programs called Mind (online personal growth course by Jerry Barton), Body (fitness program by Taylor Barton) and Soul (meditations by Matisun Barton).  All of these programs cost money and there is a video on the site detailing The Barton Method.
    • A similar website with the Barton Family called Leaving Manureville is here

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

  • The Deal - Marcus decided not to invest in the business, but wanted to invest in the real estate.  If the owners could agree to settlement on the property, Marcus will loan them the money. Marcus wanted them to offer $3 million to buy the land and consolidate the outstanding debt. Marcus would either provide the $600,000 (20%) cash needed for a down payment or the financing for the full $3 million.
    • This did not work out as Jerry decided to try to get 100% financing from the bank.  Marcus decided to back out due to this and the fact that Jerry didn't want to put money into improving the property.
  • Las Vegas Mini Grand Prix did keep the new name with the 'D' in Grand and they kept the logo designed by Tankfarm (season 5)
  • After the episode aired, the Las Vegas Mini Grand Prix website was down due to what it seems like server issues.
  • Las Vegas Mini Grand Prix clothing merchandise is available for sale on the website.

*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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