Marcus Lemonis has invested millions of his own money to help struggling businesses. Now, he is revealing the number one mistake most people make.
Marcus Lemonis, 44, is a businessman worth almost a billion dollars, so he knows a thing or two about success. We spoke to The Profit star at the grand opening of his MARCUS boutique in NYC on May 10. Before starting a business, Marcus says people fail because, “They don’t have a plan and they don’t have the right amount of working capital,” he told HollywoodLife.com EXCLUSIVELY. “They open up and they have just a little bit of money. They realize, oh my god, I didn’t think I was going to lose money, and they wake up 5 months later, and can’t pay their rent. So they don’t have the proper capital or the proper plan.”
Marcus said this Manhattan store was a long time coming. “We have 19 stores around the country and New York is something — I think you have to be at the epicenter — it’s where our office is, it’s where fashion lives, but you have to find the right space. New York rents are [crazy]! But this was not bad! I really got a killer deal! I just have to deal with construction for a while. I absolutely love it.”