Small businesses keep this country afloat; over 50% of U. S. workers are employed by them.
And this is where Marcus Lemonis, aka "The Profit," comes in. He identifies small businesses that are in trouble and then helps them get their act together by investing in and owning part of the companies and — most importantly — by taking control and turning them into viable, profitable entities.
One such business named The Blue Jean Bar had up to 13 stores around the country at one point, but many of them floundered. So the owner, Lady Fuller, trimmed them down to three.
You'll discover, as she relates to Marcus in the clip below, her mother died at age 43 — when Lady was 9 years old — of suicide.
Lady, now age 40, is concerned she's going to be a failure by that same age, and it's coloring all of her actions as she runs the business.
“My mother passed away when I was 9, and she took her own life. She left me money, and I wanted to do something with her money that paid homage to her. …. She killed herself when she was 43. … I always felt like, that this business would be so successful by the time I reached her age."
Marcus sees her potential and that of the business itself, but he also sees her looking through the rear-view mirror at haunting failures and sadness, and he needs to help her look at the road ahead.
It's the kind of thing he does regularly on "The Profit," and he handles it deftly as he helps pull her out of the tailspin — but only after some growing pains, tears, and pushback from Lady.
The final transformation of their flagship store is remarkable, as is that of Lady herself.
Starting a small business takes guts, determination, and every bit of resilience that human beings have.
And the numbers show how they pay off. Here are some interesting statistics on small businesses to consider (for more, check out this post):
- In 2012, 36% of small-business owners were women.
- As of 2013, small businesses had created over 65% of new jobs since 1995.
- There were, in 2013, nearly 28 million small businesses in the United States.
- An estimated $68 of each $100 spent in a business returns to the local economy.
Let's all try to appreciate that and support them in our communities — shall we?