Can’t wait to watch The Lano Company on CNBC’s “The Profit” at 9 p.m. Tuesday? Good news: The cable channel has released a 13-minute preview of the episode.
The star of “The Profit,” serial entrepreneur Marcus Lemonis, visited the cosmetics business in April and took a close look at what founder Miranda Coggins and her husband, Layne, are doing well—and what could be improved.
“It’s been fun and exciting, but there’s definitely a stress level, too,” Coggins said. She described Lemonis as being “awesome and intimidating at the same time.”
Lemonis liked Lano’s lanolin-based solution; he thinks it could be an even larger success. But while the business is enjoying margins of 80 percent on many of its products, he thought it might have created too many different items. (And he had some snarky things to say about the branding: “1985 called, and they want their zebra stripes back.”)
“I think he’s a brilliant business guy. I think he speaks his mind,” Miranda Coggins said. “There’s no frosting. He says what he means. Which is part of why he’s a successful businessman.”
The Lano Company is a previous winner of the 25 Under 25® Award. And you can read its 2012 cover story in Thinking Bigger Business magazine here.
