Monday, August 23, 2021

Mod Barn - The Profit Update

This week on The Profit, Marcus Lemonis is in Los Angeles, California to make a deal with Mod Barn. Mod Barn is a custom furniture business run by Wendy and Ryan Jestin who are brother and sister.  Despite growing up in the industry, their lack of process has crippled the business.  Marcus needs to get them to improve their process and get Ryan's drawings into a more accurate blueprint.

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

News and Links Related To The Company:
  • Here is a ten-minute preview video of the episode from the CNBC YouTube page. 
  • The Mod Barn is a custom furniture business that specializes in barn doors and Murphy beds. 
  • Here is the Mod Barn website and Facebook page
  • Here are the reviews for Mod Barn on Yelp and Google
    • The older reviews are mostly positive, but more recent reviews have complaints about missed deadlines.

The Deal From The Episode Plus Post-Show Updates (this will be updated continually):
  • The Deal - Marcus offered $200,000 for 20% of the business.  Wendy and Ryan will each own 35% of the business and they gave Alphus Imani the remaining 10%.  Marcus wants to use the money to improve their process, to find someone to fulfil orders on the east coast, and to redesign the storefront.
    • Marcus later advanced them $34,000 to help purchase raw materials for customer orders.
    • Marcus later gave another $41,000 to help build out the showroom.
    • Marcus gave the final $125,000 to help finish the showroom and deal with Ryan's previous obligations from his other business.
  • Grafton Furniture from season 3 of the The Profit appeared on this episode to be Mod Barn's manufacturing partner on the east coast.
  • Here is a video of the showroom from the Mod Barn Facebook page that was posted in July 2021. (Link)

*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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