Marcus Lemonis

Marcus Lemonis
Marcus Lemonis
Born	Marcus Anthony Lemonis (1973-11-16) November 16, 1973 Beirut, Lebanon
Alma mater	Marquette University
Occupation	Chairman & CEO, Camping World & Good Sam Enterprises
Television	The Profit, CNBC
Spouse(s)	Ila Lemonis (2003-Present)

Marcus Anthony Lemonis (born November 16, 1973) is a Lebanese-born American businessman, investor, television personality, philanthropist and politician. He is currently the chairman and CEO of Camping World, Good Sam Enterprises and Gander Mountain and the star of The Profit, a CNBC reality show about saving small businesses.

Biography

Lemonis was born in Beirut, Lebanon, during the chaos of civil war and foreign invasions and was adopted during his infancy by Leo and Sophia Lemonis, a Greek couple living in Miami, Florida.^[1] Lemonis was exposed to the automotive industry throughout his upbringing, his grandfather owning two of the largest Chevrolet dealerships in the United States and Lee Iacocca serving as a family friend and later mentor to Marcus. Lemonis earned a bachelor's degree in political science and a minor in criminology from Marquette University in Milwaukee in 1995, and unsuccessfully ran as a Democrat for a seat in the Florida House of Representatives shortly after his graduation,^[2] whereupon he refocused his career on the automotive industry.

He has been married to Ila Lemonis since 2003.^[3]

Business career

Starting in 1997, Lemonis held several sales and managerial roles for AutoNation.^[2] From June 2001 to February 2003 he served as CEO of Holiday RV Superstores Inc. Following that, he co-founded a company called FreedomRoads and began acquiring RV dealerships.^[4] In 2006, the company merged with Camping World with Lemonis as CEO, and then, in 2011, merged with Good Sam Enterprises, with Lemonis again at the helm.^[5]

As the CEO of Camping World, Lemonis teamed up with NASCAR for the first time in 2004, when the company sponsored driver John Andretti. In 2007, Lemonis and Camping World announced they were taking over sponsorship of the NASCAR East Series from Busch Beer for the 2008-09 seasons, rebranding it the NASCAR Camping World Series. Later that same year, they also announced sponsorship of the then Craftsman Truck Series, rebranding it the NASCAR Camping World Truck Series, making the company one of the sport's top three sponsors.^[6] In 2014, Lemonis teamed up with NASCAR to renew Camping World's sponsorship of the Truck Series through 2022.^[7]

Apart from Camping World, Lemonis is a serial entrepreneur and has helped several troubled businesses. Rose's Bakery & Wheat Free Café was set to close its doors on Christmas Eve of 2012 when Lemonis stepped in with an investment that allowed the bakery to remain open. He wrote an initial check for US$200,000 to become the majority owner of the business with a commitment of an additional US$150,000 investment over the next 18 months.^[8] Not only did he save the existing bakery, but in March 2014 a second location in Highland Park, Illinois, was opened under his direction.^[9] Lemonis added Rose's and several other businesses, including Amazing Grapes, Betty Lou's, Crumbs Bake Shop, Dapper Classics, E-Net IT Group, Key West Key Lime Pie Co., Little Miss Baker, Tonnie's Minis, Mr. Green Tea, ProFit Protein Bars and Sweet Pete's to his holding company, Marcus Lemonis Enterprises LLC. He also expanded his portfolio in the automotive industry with two businesses from The Profit: 1-800-Car-Cash,^[10] an automobile buying service, and AutoMatch USA, which specializes in pre-owned automobiles and accessories.^[11]

In 2007, RV Business Magazine named Lemonis "Newsmaker of the Year" for having "more impact on the industry than any [other] single individual or company in recent memory as an agent of change and retail consolidation."^[12] Crain’s Chicago Business featured him in their 2005 edition of "40 under 40";^[13] and in 2008, Ernst & Young named him "Entrepreneur of the Year". ^[14]

Lemonis' philanthropic efforts have included support for the Joffrey Ballet,^[15][16] St. Jude Children's Research Hospital,^[17] Ravinia Festival,^[18] Lincoln Park Zoo,^[19] RV/MH Hall of Fame,^[20] Zacharias Sexual Abuse Center,^[21] and through his time on Secret Millionaire, he contributed his time and money to National Voices for Equality, Education and Enlightenment, New Journey's Transitional Home and Neat Stuff.^[22]

Under his direction, Camping World and Good Sam launched Project Good Samaritan as part of their 2013 goal to foster corporate responsibility, which requires a team of nearly 7,000 employees to volunteer 32 hours per year (eight per quarter) to causes that are meaningful to them.^[23]

In October 2016, Camping World went public on the New York Stock Exchange (NYSE: CWH) at US$22 a share, giving the company a market value of approximately US$2 billion. As of May 1, 2017, Camping World was trading above US$31.^[24]

In April 2017, Camping World announced the acquisition of the assets of Gander Mountain, a camping, fishing and hunting gear retailer, including Gander Mountain intellectual property and trademarks, GanderMountain.com and boating and watersports lifestyle retailer Overton's.^[25]

In July 2017, Camping World announced the acquisition of The House Boardshop, an online retailer specializing in bikes, sailboards, skateboards, wakeboards, snowboards and outdoor gear. This includes The House Boardshop intellectual property and trademarks including the domains "thehouse.com" and "the-house.com".^[26]

Television personality

Lemonis was featured on two episodes of NBC’s Celebrity Apprentice,^[27] hosting marketing-related challenges. In 2011, he gave each team two Camping World RVs and challenged them to stage an "experience" in midtown Manhattan.^[28] In 2012, Lemonis challenged the contestants to write a 90-second jingle for Good Sam’s Roadside Assistance program ^[29] In 2012, Lemonis appeared on an episode of ABC’s Secret Millionaire,^[30] returning to his hometown of Miami to help local charities.

In 2013, Lemonis became the star of the CNBC reality show The Profit,^[31] which features Lemonis on the hunt for promising yet faltering small businesses. As of the summer of 2016, with the show in its fourth season, he puts his own money on the line to save the business and make himself a profit. After the third season, Lemonis had invested US$35 million in businesses featured in the program.^[32]

In 2017, Lemonis will star in a second CNBC program The Partner, in which he searches for a business manager to assist in running businesses Lemonis invests in on The Profit. Lemonis will also co-produce.^[32][33]

Political career

1996 Florida House campaign

Lemonis, appearing on the ballot as Marc Anthony Lemonis, lost to two-term Republican incumbent Bruno Barreiro, 42.44% to 57.56%,^[34] despite being endorsed by the Miami Herald. The Miami Herald called Lemonis, a Democrat, a "political neophyte" but endorsed him because "he exudes energy and ideas."^[35]

References

External links

• Official website
• The Profit at CNBC
• Marcus Lemonis: The Profit (Interview)