He wanted to franchise/license the car flipping business? What is so proprietary about this business?
The Profit, entrepreneur business turnaround show on CNBC
- Thread starter Wicked Ice
- Start date
Mc Donals, Burger King, Subway - are they proprietary? Not really, but their franchise business is insane.
I don't think that you need a proprietary business model to do franchising. Franchisees are looking for proven biz models and guidance, and that's what the guys give them.
I mean just look at their branches: 1-800 CarCash - About Selling Your Car at 1-800 Car Cash The biz model seems to work.
Awwwww yeahhhhhh. They still need to do a episode 3 followup and explain what happened.
Not to mention the economies of scale working in your favor. Having more cash car franchises won't mean you can purchase cars at a cheaper price or that you can sell them for a higher price.
Just finished episode five. What in the actual fuck. How can these business owners not shut the fuck up and let someone make them millions? He made $78.50 on $109,000 in revenue for the month. $78.50. AND hes still mouthing off?
I looked at the video timer and there was 8 min left in the show and he was STILL having everyone talk about their feelings cause that owner was insane.
That episode needed less of this:
And more of this:
You know shit is fucked when you have to bring in a psychiatrist.
i wasn't giving that episode my full attention, but i thought i heard the consultant (rightly) stipulate he'd give the owner the $1m only if he wasn't directly managing the employees... then the rest of the episode was about how bad the owner was at management. did i miss something?
That's the genius part of it. It's a process that is easy to replicate. He's buying a brand that has existed since 1977 to establish credibility. He's buying a sales guy (although a douche) who did a damn nice job at sales, especially with that BMW. He's already determined he can fix the numbers. He gets a great brand name and 1800 number. Plus the sugar on the cake is that he gets TV advertising for his new franchise. What's even better is the TV show is watched almost exclusively by wannabe bosses.
Yes, you get the Car Cash brand as well, including TV and radio spots and don't forget about the exposure of the show.
Their franchising seems to work, looks like they have like 90 different locations right now.
Agreed, but that's not a requirement for a franchise business to work.
Fucking this. That's what you get when you read too many of those self-help self-improvement books telling you to do that what you love.
Being emotionally attached to the things you're doing is a good thing as it motivates you, but if it's all about "oh it's my business, 'I built this
shit 5 years ago and everybody is happy, now everything is shit but I DID IT!' it'll fuck you in the long run. Businesses should be run based on numbers, not on emotions. This show is the prime example.
I bet that idiot ruined his entire business with the show. Talk about negative publicity.
I wonder how many people would give their dogs to a business run by a sociopath.
There is related documentary called "Millionaire by 25" It's for a broke boy who decided to start own business. In matter of fact he is pretty much succeeding I recommend 
I've been watching the profit since it was mentioned here, I quite like it although I find it a bit confusing how some of the shows turn out, I would have thought going through the books would be a pre-requisite before even getting involved, but it seems he offers the money out and looks at the books later. While this makes for good drama TV, I cannot believe this is reality.
