CNBC: Street Signs
6/28/2023 8:02am
... a warm welcome to 'street signs,' everybody. we're keeping our eyes on sentra beautiful portugal layne spoke to aany ta on ...
CNBC: Street Signs
6/28/2023 8:00am
... 'street signs. i'm joumanna bercetche. i'm julianna tatelbaum. these are your headlines. ecb dials down with chief economist phillip layne and governor lynch leaving the door open for the summer. it's going to be a mix of all of those ...
CNBC: The News With Shepard Smith
8/17/2022 8:23am
... train recent graduates. here is nbc's steven romo. do you accept? yes. awesome. thank you so much. our newest teacher. reporter: high school principal adam layne has become a pro at recruiting new ...
CNBC: The News With Shepard Smith
8/16/2022 11:23pm
... reporter: high school principal adam layne has become a pro at recruiting new teachers. when he is not serenading his staff, he is busy drafting a pipeline of teachers for his ...
CNBC: The Exchange
7/21/2022 5:27pm
... see it here on cnbc. former minneapolis officer thomas layne sentenced to serve 2 1/2 years in prison after his conviction on federal civil rights charges for his role in the death of george floyd. floyd's brother calls the ...
CNBC: The Profit
6/14/2020 9:00am
... we're excited to do business. miranda: thank you. i appreciate it. -katia: we don't do that. right? -miranda: give me a hug. i appreciate it. -katia: great to see you. -layne: thank you so much. buckle up, because change is coming. .a progress report. ...
CNBC: The Profit
6/14/2020 9:00am
... i expect our revenue to double within the year. we're excited to do business. miranda: thank you. i appreciate it. -katia: we don't do that. right? -miranda: give me a hug. i appreciate it. -katia: great to see you. -layne: thank you so much. ...
CNBC: The Profit
6/14/2020 8:58am
... and because it is made with medical-grade lanolin. lemonis: you know what you're doing. ashley: thank you. lemonis: now that we've decided to move all of the manufacturing to rejuvenol, we no longer need a warehouse. hello! good morning! so i took layne and miranda to look at a new office space in ...
CNBC: The Profit
6/14/2020 8:52am
... we also -- i wanted to tell you this -- this is our lip scrub. it buffs off all that dry, dead skin, and then you've got a soft, you know, scrub over it. layne: and i'm sure you'd want to test the items and things like that, but what do you think we would need to do to actually, you know, be able ...
CNBC: The Profit
6/14/2020 8:50am
... and generate over $8.8 billion in revenue. so the product's here. we'll just get it all unpacked. -layne: right. -miranda: yay! -how do they look? -layne: real good. ...
CNBC: The Profit
6/14/2020 8:50am
... lemonis: if you can sell your product on qvc, i think it's safe to say you've arrived. miranda: yeah. lemonis: i flew layne and miranda to west chester, pennsylvania, to the world headquarters for qvc. they're the biggest shop-at-home network anywhere. they reach over 300 million homes ...
CNBC: The Profit
6/14/2020 8:49am
... so, i put a lot of thought into the discussions we've had over this logo. one of the things that i feel like is missing is 'medical grade.' you kept telling me 'medical-grade lanolin.' -miranda: okay. -layne: okay. lemonis: a logo's important because it's a name, and it tells a story. ...
CNBC: The Profit
6/14/2020 8:45am
... layne: what do you think we would need to do to actually bring something into qvc that works for you all? ariana: items that we don't like -- sea salt and scrubs are a little challenging. not the candle. jimmy's gotten used to his whole yup, he's gone noseblind. odors. ...
CNBC: The Profit
6/14/2020 8:42am
... -layne: right. -lemonis: .at all that there's any sort of, like, somebody can do this and all of a sudden be like [gasps] miranda: yeah. megan: hi, guys! how are you? miranda: good. i'm miranda. megan: hey, miranda. i'm meg. nice to meet you. lemonis: i wanted to take miranda to parlor, ...
CNBC: The Profit
6/14/2020 8:42am
... what it could look like. shelly: are we going with swastika? [ laughter ] layne: oh. got ya. no, i didn't see it, but okay. it can absolutely be perceived by some. sure. miranda: we don't want them to perceive anything badly. layne: i mean, i liked the raindrop as far as an 'o' on some of them, ...
CNBC: The Profit
6/14/2020 8:41am
... miranda: oh. i didn't see it until you just said that. -lemonis: is layne here? -miranda: yeah, he's here. lemonis: all right, so, i'm gonna grab him real quick, okay? miranda: yeah, yeah, yeah. lemonis: so, we're looking at these logos. -layne: yes, sir. -lemonis: anything else you see in the l's ...
CNBC: The Profit
6/14/2020 8:34am
... and i wanted to show her that while they may be successful in one sense, this is not success. how did stuff like this happen over the years? miranda: i mean, i got super-excited, and i over-ordered. lemonis: but i'm gonna tell you what layne won't tell you. ...
CNBC: The Profit
6/14/2020 8:33am
... if i have you in there saying the same thing i've been saying for a year, it makes it seem like second nature, like, 'well, okay, a couple people have told me. i know we've got to take the right step.' lemonis: well, at least if i'm tough on her, she can come complain to you -and you can console ...
CNBC: The Profit
6/14/2020 8:33am
... 'cause you're trying to just create enough cash. but at the end of the day, we're literally throwing money in the trash can. layne acknowledged to me that it was kind of out of his hands. layne: it's a little bit different to tell your wife something and her not take it personal. ...
CNBC: The Profit
6/14/2020 8:33am
... and i can't believe what i'm just seeing for the first time. and so you want to show me a profit-and-loss statement that says you make $400000, well, hundreds of thousands of dollars in dead inventory in the warehouse -- those are losses. so, really, all this is garbage. layne: pretty much. ...
CNBC: The Profit
6/14/2020 8:32am
... lemonis: i am floored by how much crap is in this space. did miranda order this kind of, like, on her own? layne: yeah. i mean, i got 30000 bottles back there i can't sell. lemonis: which one are those? show me that. i've been here for several days, ...
CNBC: The Profit
6/14/2020 8:32am
... layne: most of it is glam products. lemonis: and who ordered it all? miranda: i order everything. lemonis: i asked layne to take me to the back of the warehouse, without miranda, by the way. so, where is all this glam stuff? layne: every one of those are full displays. yep. ...
CNBC: The Profit
6/14/2020 8:32am
... miranda: this is a box that we have lots of different colors in. -did you see this one? -lemonis: no. miranda: but no more trinkets like that. lemonis: how much do you have in inventory that is not your core business? layne: $108000, $109000. lemonis: of just. ...
CNBC: The Profit
6/14/2020 8:29am
... -layne: oh, really? -bart: this machine is running. this is a proprietary bottle to us. lemonis: so, do you know how that works? miranda: no, i've never seen it. lemonis: it starts like a bullet. layne: yeah. and then it blows out like that. lemonis: rejuvenol charges a fee -- roughly 5% to 6% on ...
CNBC: The Profit
6/14/2020 8:27am
... you know, 100000 samples in people's hands, who are gonna photograph it, put it on instagram, is when you are sure that this is the company, this is the brand. lemonis: so we have some work to do. thank you so much for your time. we really, really appreciate it. miranda: thank you so much for all ...
CNBC: The Profit
6/14/2020 8:22am
... and so, then you un-- there's a mirror right there. katia: the mirror is, like, amazing, and it's so obvious. layne: honestly, we get more compliments on the mirror -than we do the light. -katia: i don't love the light. and, also, if i was at a bar and i put on my lip gloss and all of a sudden, my ...
CNBC: The Profit
6/14/2020 8:21am
... lemonis: sometimes you got to be good on the fly. i have no worry 'cause i trust you, and i know that you're gonna do a great job. -miranda: okay. yes. -lemonis: okay. great. -miranda: hi. i'm miranda. -katia: i'm katia. -miranda: hi, nice to meet you. -layne: i'm layne. lemonis: every month, ...
CNBC: The Profit
6/14/2020 8:21am
... [ siren wailing in distance ] -man: i know you. -lemonis: hey. today i brought miranda and layne to new york city to meet with birchbox, a very influential online retailer. while i'm hoping to build a long-term relationship, ...
CNBC: The Profit
6/14/2020 8:20am
... miranda: we know. -layne: thanks again. -lemonis: thank you. what a good-looking group. [ laughter ] so, miranda and lane and i made a deal for me to invest $500000. ...
CNBC: The Profit
6/14/2020 8:19am
... lemonis: we have a deal? miranda: we have a deal? we have a deal. okay. -lemonis: congratulations. -miranda: thank you. lemonis: now, you know that for a period of time. layne: i know. -miranda: we know. -layne: you got us. lemonis: .i am 100% in charge. ...
CNBC: The Profit
6/14/2020 8:19am
... don't look at me. lemonis: when we shake hands, the deal becomes effective the minute we shake hands. you're tough. -i have good credit. -miranda: [ chuckles ] you okay? layne: i prefer the 20% with the 10%. miranda: i agree. layne: you're selling your baby. now you got a stepdad? [ both chuckle ] ...
CNBC: The Profit
6/14/2020 8:19am
... -layne: right. -lemonis: .80%-20% 'cause i don't want to take your baby, but i don't want you taking my 500000 babies. if you're gonna get a return -on your 80%. -layne: mm-hmm. right. lemonis: .i would like to get a return on my 20%. miranda: i think that that's a pretty good deal. ...
CNBC: The Profit
6/14/2020 8:18am
... lemonis: what do you think the business is worth? layne: somewhere in the realm of $5 million. lemonis: on a business that makes $400000? layne: based on what next year actually is forecasted to do and p.o.s that are in hand for then. lemonis: i struggle with the business being worth $5 million ...
CNBC: The Profit
6/14/2020 8:13am
... -miranda: are you worried? -layne: mm-hmm. miranda: nobody says we have to make a decision right now. i don't think we just give up 30% that easily. lemonis: for business advice and extra scenes from the show, ...
CNBC: The Profit
6/14/2020 8:13am
... lemonis: and i'm telling you that i can. i'm gonna give you guys a minute to talk without me, okay? -layne: okay. -miranda: okay. it's a lot of equity. layne: 30% is a lot. you're right. ...
CNBC: The Profit
6/14/2020 8:12am
... lemonis: oh, i know what the direction is, but i didn't come here -- i'm not a consultant. i don't just lay out the plan for you. -layne: i know that. -lemonis: and so if you know what the direction is, what's the direction? ...
CNBC: The Profit
6/14/2020 8:12am
... most people would say, 'we're doing great.' -layne: right. -lemonis: and so i feel strongly that you know that you want to do something, but you're just not sure what it is. layne: you know, i mean, i know it, and all due respect. lemonis: what is it, then? what is it? layne: .i'm not sure you know ...
CNBC: The Profit
6/14/2020 8:11am
... -hey, there. -miranda: hey. -layne: hey, marcus. -lemonis: how are you? miranda: good, how are you doing? -lemonis: good to see you. -miranda: good. thank you. good to see you, buddy. how are you? so, what did you guys think about after i left last night? miranda: you've got 10 years' worth of work ...
CNBC: The Profit
6/14/2020 8:11am
... we want to have a business that's built for time. miranda: i'd like to see it. -lemonis: so, good talk. -layne: yes, sir. miranda: thank you, thank you, thank you for everything. lemonis: nice meeting you. thank you. [ indistinct conversations ] _ _ ...
CNBC: The Profit
6/14/2020 8:09am
... so, is there only one entity, or there are multiple entities? -miranda: only one. -layne: there's one. -lemonis: okay. -layne: yeah. lemonis: so, $2.3 million in total revenue in 2014. layne: '14. yes. lemonis: after cost of goods, gross profit was $1.5 million. so really good margins. ...
CNBC: The Profit
6/14/2020 8:09am
... miranda: 51% woman-owned, and then 49% layne. lemonis: well, at least you're 51%. at least you can kick him out at any time. miranda: i tell him that all the time. layne: i've been begging. everybody's like, 'what are you doing?' i go, 'i'm a guy selling cosmetics. -i'm living the dream.' -miranda: ...
CNBC: The Profit
6/14/2020 8:08am
... this is not a sustainable model. -do you have the financials? -layne: mm-hmm. lemonis: i'd like to go over them and really understand them more -- like, the balance sheet, p&l. -both: okay. -lemonis: thank you. so, how is the equity split between the two of you? ...
CNBC: The Profit
6/14/2020 8:08am
... miranda: i agree. lemonis: so, the premise of the whole company -- miranda: .was lost. lemonis: well, it's not lost. it's gone. i'm sure all these products are great, but you have to admit you are kind of all over the place. miranda: no, i think layne wants to go where the margins are. layne: we ...
CNBC: The Profit
6/14/2020 8:07am
... lemonis: what do you sell this directly to a salon for? layne: $10. -lemonis: so $8 in margin. -layne: yes, sir. lemonis: so, there's lano lip, which is what your original product was, and that makes up what percentage of the $2.8 million? layne: 3% max. miranda: max. lemonis: what a bummer that is. ...
CNBC: The Profit
6/14/2020 8:07am
... layne: those eye shadows, the brush sets, and definitely the gloss. it's 25%, 25%, and 25%. and so this particular product makes up 25% of your revenue -- $700000. what does this cost to make, all-in? layne: depending on the colorant, anywhere from, say, $1.76 to $2.02. ...
CNBC: The Profit
6/14/2020 8:06am
... miranda: i'm the artist, and he's the practical one. lemonis: does that work for you guys? miranda: no, it does. i think going into business together was really tough at the very beginning. -lemonis: why? -layne: she actually just got so aggressive on buying a bunch of inventory 'cause she was so ...
CNBC: The Profit
6/14/2020 8:06am
... i don't know how makeup brushes solve problems for people. -miranda: layne. marcus. -lemonis: how are you doing? -i'm marcus. -layne: nice to see you. lemonis: nice to meet you. miranda: layne does all of our numbers. lemonis: how much do you do in total sales? layne: well, last 12, of course, are ...
CNBC: The Profit
6/14/2020 8:01am
... layne: this is layne coggins with the lano company. lemonis: 10 years later, miranda and her husband, layne. -miranda: love you. [ smooches ] -layne: love you. lemonis: .now have a company that generates millions of dollars in revenue. i'm excited to visit lano. and while it's a profitable business, ...
CNBC: The Profit
6/14/2020 8:00am
... miranda: those are light-up tweezers. lemonis: products that no one wants. layne: these right here are all the bottles i can't sell. -lemonis: all the way back here? -layne: yes, sir. lemonis: and their branding is completely chaotic. -interesting? -katia: mnh-mnh. -lemonis: interesting? -katia: ...
CNBC: The Profit
6/14/2020 8:00am
... lemonis: i'm impressed. but the owners won't stop developing new products. what is this? miranda: those are light-up tweezers. lemonis: products that no one wants. layne: these right here are all the bottles i can't sell. -lemonis: all the way back here? -layne: yes, sir. lemonis: and their ...
CNBC: The Profit
4/29/2020 4:00am
... -katia: great to see you. -layne: thank you so much. '. mary ellen: that's pretty. i like that. lemonis: .a family has sunk their life savings into their swimwear company. i leave here inspired by your story. ...
CNBC: The Profit
4/29/2020 4:00am
... i expect our revenue to double within the year. we're excited to do business. miranda: thank you. i appreciate it. -katia: we don't do that. right? -miranda: give me a hug. i appreciate it. -katia: great to see you. -layne: thank you so much. '. _ ...
CNBC: The Profit
4/29/2020 3:59am
... we no longer need a warehouse. hello! good morning! so i took layne and miranda to look at a new office space in downtown kansas city. woman: the rent is $3000 a month. it's about 2900 square feet. lemonis: you could turn this into a display wall, and you could turn that into a display wall ...
CNBC: The Profit
4/29/2020 3:52am
... we also -- i wanted to tell you this -- this is our lip scrub. it buffs off all that dry, dead skin, and then you've got a soft, you know, scrub over it. layne: and i'm sure you'd want to test the items and things like that, but what do you think we would need to do to actually, you know, be able ...
CNBC: The Profit
4/29/2020 3:50am
... and generate over $8.8 billion in revenue. so the product's here. we'll just get it all unpacked. -layne: right. -miranda: yay! -how do they look? -layne: real good. -look at this. -miranda: [ gasps ] yay! _ _ ...
CNBC: The Profit
4/29/2020 3:50am
... lemonis: if you can sell your product on qvc, i think it's safe to say you've arrived. miranda: yeah. lemonis: i flew layne and miranda to west chester, pennsylvania, to the world headquarters for qvc. they're the biggest shop-at-home network anywhere. they reach over 300 million homes ...
CNBC: The Profit
4/29/2020 3:49am
... into the discussions we've had over this logo. one of the things that i feel like is missing is 'medical grade.' you kept telling me 'medical-grade lanolin.' -miranda: okay. -layne: okay. lemonis: a logo's important because it's a name, and it tells a story. and i knew that miranda was hanging on ...
CNBC: The Profit
4/29/2020 3:44am
... woman #3: i like the idea of it. it's kind of weird lighting. woman #4: it's just, like, really bright. megan: it's just not my deal. layne: what do you think we would need to do ...
CNBC: The Profit
4/29/2020 3:42am
... i like the color palette, but once we get the logo right, i think we may have just found it. i love the fact that we're saying 'lano.' i feel like if we could just somehow modify this enough to have there be, like, no chance. -layne: right. -lemonis: .at all that there's any sort of, like, somebody ...
CNBC: The Profit
4/29/2020 3:42am
... [ laughter ] layne: oh. got ya. no, i didn't see it, but okay. it can absolutely be perceived by some. sure. miranda: we don't want them to perceive anything badly. layne: i mean, i liked the raindrop as far as an 'o' on some of them, but, i mean, there were so many different ones that could be ...
CNBC: The Profit
4/29/2020 3:41am
... -lemonis: is layne here? -miranda: yeah, he's here. lemonis: all right, so, i'm gonna grab him real quick, okay? miranda: yeah, yeah, yeah. lemonis: so, we're looking at these logos. -layne: yes, sir. -lemonis: anything else you see in the l's if you stand back and look at the image? what it could ...
CNBC: The Profit
4/29/2020 3:34am
... how did stuff like this happen over the years? miranda: i mean, i got super-excited, and i over-ordered. lemonis: but i'm gonna tell you what layne won't tell you. miranda: okay. lemonis: when you make these mistakes, it craters companies. he said that you guys donated $100000 last year ...
CNBC: The Profit
4/29/2020 3:34am
... she can come complain to you -and you can console her. -layne: sure. lemonis: if you're tough on her, you got to go home with her. and so i decided to grab miranda, and i wanted to show her that while they may be successful in one sense, this is not success. ...
CNBC: The Profit
4/29/2020 3:33am
... layne: it's a little bit different to tell your wife something and her not take it personal. if i have you in there saying the same thing i've been saying for a year, it makes it seem like second nature, like, 'well, okay, a couple people have told me. i know we've got to take the right step.' ...
CNBC: The Profit
4/29/2020 3:33am
... my god. look, i know why you sell the brushes and the little accessories -- 'cause you're trying to just create enough cash. but at the end of the day, we're literally throwing money in the trash can. layne acknowledged to me that it was kind of out of his hands. ...
CNBC: The Profit
4/29/2020 3:33am
... and so you want to show me a profit-and-loss statement that says you make $400000, well, hundreds of thousands of dollars in dead inventory in the warehouse -- those are losses. so, really, all this is garbage. layne: pretty much. lemonis: it was mistakes with packaging, bottle caps that were bad, ...
CNBC: The Profit
4/29/2020 3:33am
... lemonis: i am floored by how much crap is in this space. did miranda order this kind of, like, on her own? layne: yeah. i mean, i got 30000 bottles back there i can't sell. lemonis: which one are those? show me that. i've been here for several days, and i can't believe what i'm just seeing for the ...
CNBC: The Profit
4/29/2020 3:32am
... layne: most of it is glam products. lemonis: and who ordered it all? miranda: i order everything. lemonis: i asked layne to take me to the back of the warehouse, without miranda, by the way. so, where is all this glam stuff? layne: every one of those are full displays. yep. ...
CNBC: The Profit
4/29/2020 3:32am
... miranda: this is a box that we have lots of different colors in. -did you see this one? -lemonis: no. miranda: but no more trinkets like that. lemonis: how much do you have in inventory that is not your core business? layne: $108000, $109000. lemonis: of just. ...
CNBC: The Profit
4/29/2020 3:29am
... layne: yeah. and then it blows out like that. lemonis: rejuvenol charges a fee -- roughly 5% to 6% on top of their manufacturing cost. but if they produce our products, we'll be able to fulfill orders much quicker and at a larger scale. ...
CNBC: The Profit
4/29/2020 3:29am
... miranda: yeah, i would. yeah, i would love that. bart: we actually make our own bottles, too. -layne: oh, really? -bart: this machine is running. this is a proprietary bottle to us. lemonis: so, do you know how that works? miranda: no, i've never seen it. lemonis: it starts like a bullet. ...
CNBC: The Profit
4/29/2020 3:27am
... thank you so much for your time. we really, really appreciate it. miranda: thank you so much for all your feedback. -katia: congratulations. -layne: thank you. lemonis: now that we understand directionally where we want to go, i want you to come up with 6 to 10 products all using lanolin, and at ...
CNBC: The Profit
4/29/2020 3:22am
... we'll do a little over $3 million this year. this is our lip gloss -- pure illumination. so, you push the button here. yeah. and so, then you un-- there's a mirror right there. katia: the mirror is, like, amazing, and it's so obvious. layne: honestly, we get more compliments on the mirror ...
CNBC: The Profit
4/29/2020 3:21am
... -miranda: okay. yes. -lemonis: okay. great. -miranda: hi. i'm miranda. -katia: i'm katia. -miranda: hi, nice to meet you. -layne: i'm layne. lemonis: every month, birchbox delivers beauty samples that are custom tailored to their subscribers. getting our lip gloss into birchbox would put our ...
CNBC: The Profit
4/29/2020 3:20am
... lemonis: let's get back to work, all right? -thanks, ladies. -miranda: thanks, guys. [ siren wailing in distance ] -man: i know you. -lemonis: hey. today i brought miranda and layne to new york city ...
CNBC: The Profit
4/29/2020 3:19am
... -lemonis: congratulations. -miranda: thank you. lemonis: now, you know that for a period of time. layne: i know. -miranda: we know. -layne: you got us. lemonis: .i am 100% in charge. miranda: we know. -layne: thanks again. -lemonis: thank you. ...
CNBC: The Profit
4/29/2020 3:19am
... layne: you're selling your baby. now you got a stepdad? [ both chuckle ] lemonis: we have a deal? miranda: we have a deal? we have a deal. okay. ...
CNBC: The Profit
4/29/2020 3:19am
... miranda: i think that that's a pretty good deal. don't look at me. lemonis: when we shake hands, the deal becomes effective the minute we shake hands. you're tough. -i have good credit. -miranda: [ chuckles ] you okay? layne: i prefer the 20% with the 10%. miranda: i agree. ...
CNBC: The Profit
4/29/2020 3:19am
... and then we share in the profits above that. -layne: right. -lemonis: .80%-20% 'cause i don't want to take your baby, but i don't want you taking my 500000 babies. if you're gonna get a return -on your 80%. -layne: mm-hmm. right. lemonis: .i would like to get a return on my 20%. ...
CNBC: The Profit
4/29/2020 3:17am
... giving up 30% of your baby -- a little bit tougher than i'd like to swallow. lemonis: what do you think the business is worth? layne: somewhere in the realm of $5 million. lemonis: on a business that makes $400000? layne: based on what next year actually is forecasted to do and p.o.s that are in ...
CNBC: The Profit
4/29/2020 3:13am
... -miranda: are you worried? -layne: mm-hmm. miranda: nobody says we have to make a decision right now. i don't think we just give up 30% that easily. lemonis: for business advice and extra scenes from the show, ...
CNBC: The Profit
4/29/2020 3:13am
... miranda: right. lemonis: and i'm telling you that i can. i'm gonna give you guys a minute to talk without me, okay? -layne: okay. -miranda: okay. it's a lot of equity. layne: 30% is a lot. you're right. ...
CNBC: The Profit
4/29/2020 3:12am
... layne: .i'm not sure you know the exact direction we should go. lemonis: oh, i know what the direction is, but i didn't come here -- i'm not a consultant. i don't just lay out the plan for you. -layne: i know that. -lemonis: and so if you know what the direction is, what's the direction? ...
CNBC: The Profit
4/29/2020 3:12am
... most people would say, 'we're doing great.' -layne: right. -lemonis: and so i feel strongly that you know that you want to do something, but you're just not sure what it is. layne: you know, i mean, i know it, and all due respect. lemonis: what is it, then? what is it? ...
CNBC: The Profit
4/29/2020 3:11am
... -layne: hey, marcus. -lemonis: how are you? miranda: good, how are you doing? -lemonis: good to see you. -miranda: good. thank you. good to see you, buddy. how are you? so, what did you guys think about after i left last night? miranda: you've got 10 years' worth of work on the table, and you said, ...
CNBC: The Profit
4/29/2020 3:11am
... -lemonis: so, good talk. -layne: yes, sir. miranda: thank you, thank you, thank you for everything. lemonis: nice meeting you. thank you. [ indistinct conversations ] -hey, there. -miranda: hey. ...
CNBC: The Profit
4/29/2020 3:09am
... layne: '14. yes. lemonis: after cost of goods, gross profit was $1.5 million. so really good margins. total operating expenses a year are $1.1 million. miranda: that's with payroll, rent. lemonis: so, with $400000 in earnings. i mean, you guys do well. ...
CNBC: The Profit
4/29/2020 3:09am
... miranda: i tell him that all the time. layne: i've been begging. everybody's like, 'what are you doing?' i go, 'i'm a guy selling cosmetics. -i'm living the dream.' -miranda: living the dream. -layne: [ laughs ] -lemonis: very funny. so, is there only one entity, or there are multiple entities? ...
CNBC: The Profit
4/29/2020 3:08am
... -both: okay. -lemonis: thank you. so, how is the equity split between the two of you? miranda: 51% woman-owned, and then 49% layne. lemonis: well, at least you're 51%. at least you can kick him out at any time. ...
CNBC: The Profit
4/29/2020 3:08am
... that doesn't really tell me who you are. this lack of direction and this lack of clarity, while it may be making them a little bit of money today, this is not a sustainable model. -do you have the financials? -layne: mm-hmm. lemonis: i'd like to go over them and really understand them more -- like, ...
CNBC: The Profit
4/29/2020 3:08am
... you are kind of all over the place. miranda: no, i think layne wants to go where the margins are. layne: we were really just kind of going where the money was. lemonis: you were chasing the money. the minute somebody else comes around that'll make that thing for 10 cents less, you're gone, and you ...
CNBC: The Profit
4/29/2020 3:08am
... layne: 3% max. miranda: max. lemonis: what a bummer that is. miranda: i agree. lemonis: so, the premise of the whole company -- miranda: .was lost. lemonis: well, it's not lost. it's gone. i'm sure all these products are great, but you have to admit ...
CNBC: The Profit
4/29/2020 3:07am
... layne: depending on the colorant, anywhere from, say, $1.76 to $2.02. lemonis: what do you sell this directly to a salon for? layne: $10. -lemonis: so $8 in margin. -layne: yes, sir. lemonis: so, there's lano lip, which is what your original product was, and that makes up what percentage of the ...
CNBC: The Profit
4/29/2020 3:07am
... miranda: right. lemonis: what's the main product that's creating the $2.8 million on this table? layne: those eye shadows, the brush sets, and definitely the gloss. it's 25%, 25%, and 25%. and so this particular product makes up 25% of your revenue -- $700000. what does this cost to make, all-in? ...
CNBC: The Profit
4/29/2020 3:06am
... but last year was $2.336 million. miranda: i'm the artist, and he's the practical one. lemonis: does that work for you guys? miranda: no, it does. i think going into business together was really tough at the very beginning. -lemonis: why? -layne: she actually just got so aggressive on buying a ...
CNBC: The Profit
4/29/2020 3:06am
... that had no connection to her original story. i don't know how makeup brushes solve problems for people. -miranda: layne. marcus. -lemonis: how are you doing? -i'm marcus. -layne: nice to see you. lemonis: nice to meet you. miranda: layne does all of our numbers. lemonis: how much do you do in ...
CNBC: The Profit
4/29/2020 3:01am
... layne: this is layne coggins with the lano company. lemonis: 10 years later, miranda and her husband, layne. -miranda: love you. [ smooches ] -layne: love you. lemonis: .now have a company that generates millions of dollars in revenue. i'm excited to visit lano. ...
CNBC: The Profit
4/29/2020 3:00am
... lemonis: products that no one wants. layne: these right here are all the bottles i can't sell. -lemonis: all the way back here? -layne: yes, sir. lemonis: and their branding is completely chaotic. -interesting? -katia: mnh-mnh. -lemonis: interesting? -katia: no, that's weird. it just feels all over ...
CNBC: The Profit
4/29/2020 3:00am
... lemonis: i'm impressed. but the owners won't stop developing new products. what is this? miranda: those are light-up tweezers. lemonis: products that no one wants. layne: these right here are all the bottles i can't sell. -lemonis: all the way back here? -layne: yes, sir. lemonis: and their ...
CNBC: The Profit
6/26/2019 6:00am
... we're excited to do business. miranda: thank you. i appreciate it. -katia: we don't do that. right? -miranda: give me a hug. i appreciate it. -katia: great to see you. -layne: thank you so much. for online trading academy. - very disillusioned in my profession ...