Econ – The Profit

Watch The Profit

Response Question: Describe how the business was failing and explain how Marcus turned it around.

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13 thoughts on “Econ – The Profit

  1. The business was failing because they had to work with a wholesaler or middle man. To fix this, they got rid of the middle man to increase their profit per vehicle by 614%. They also improved their building to make it more attractive and appealing.

  2. It was failing because they were only asking $500 more than what the car was worth or what the people were asking for it. They weren’t really taking into consideration what shape the car was in. They weren’t selling the car they bought to an actual car salesman. They were selling the car for either what they bought for it or just a little bit more. Once they started taking into consideration of the condition of the car and wouldn’t back down on the price they wanted for it, they started making actual money on the cars.

  3. The business is failing because they are buying the cars for to high of a price and they were selling their cars to dealer for to low of a price and they didn’t make a profit. He made it so that it was more inviting for customers.

  4. The business was failing because the brothers couldn’t work out their differences, they weren’t getting enough business, they weren’t making enough profit, and they were spending money on things they didn’t need. Marcus gave them money to pay off there debt and then additional money to help the business.

  5. The business was failing because the brothers could not get along. They were also failing because of the wholesalers and not evaluating the car with the customer near them. Marcus turned it around by getting rid of all of the faults.

  6. The business was failing because they weren’t making money. They would buy and sell the car for a low margin. They also were spending a lot of money on advertising that wasn’t working. They turned it around by cutting out the middle man so they made more of a profit. They also licensed the business so they could make money from those. They also got more and better advertising.

  7. The business was failing because when they would sell the cars they would sell it to a middle man that they could cut out. They sold it to the middle man for a low price then the middle man sold it for a higher price to a dealership. So then the middle man would make more money then them.He helped them by getting them to cut out the middle man and redoing the shop and made it more inviting. They had better advertising and licensed it.

  8. They had to get rid of the middle man, that was taking some of there money. So when they got rid of the middle man, their profit started to increase. Also, the bonds between the two brothers had to be fixed. Which Marcus help out with.

  9. The business was failing because they were selling cars at low prices. They wouldn’t really look into the cars too see what shape they were in and what they would be actually worth. Marcus made them cut out the middle man so they could sell at a higher price. Marcus also had them redo their shop which made it look more professional and welcoming.

  10. The business was failing because they were buying cars for to high of a price and were selling them at to low of a price. They got rid of the middle man and Marcus made them start selling cars at higher prices. They also spent more money on advertisement when it wasn’t working.

  11. the business was failing because the older brother was not listening to the younger brother. in order for a good business to succeed both part of the business (if that is the case) need to work together for the betterment of the company. Marcus refurbished the establishment and worked with the owners on how to run a partnership.

  12. The bothers relationship was not helping the business at all. Marcus turned the business around by fixing the relationship between the two brother.

  13. Their business is failing because they aren’t selling enough cars. They are arguing a lot about their business.. Marcus comes into the business and helps them with selling cars and getting back on track. Marcus also helped them by redoing their whole business.

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