How to Expand a Smart Business Idea With Smart Pricing | Ask Marcus Lemonis Teaser | Inc. Magazine


How to Expand a Smart Business Idea With Smart Pricing | Ask Marcus Lemonis Teaser | Inc. Magazine video 00:30

Marcus Lemonis, host of CNBC’s ‘The Profit’, explains to Bridget Platt, CEO of Daddy’s Deployed, how she can expand her book idea into a series of offerings.

BY ZOË HENRY

Marcus Lemonis, the entrepreneur, investor, and star of CNBC’s hit series The Profit, appreciates a smart business model born from a personal need.

“I really congratulate you for doing this,” Lemonis tells Bridget Platt, the founder and CEO of Daddy’s Deployed. Her startup makes custom books that educate children about their parents in the military. “It’s very real.” 

Platt appears as the featured entrepreneur on Tuesday’s episode of Ask Marcus Lemonis. Each week on Inc.com, Lemonis meets with a business owner, who gets the opportunity to ask one question about a pressing business challenge. 

After her husband was deployed, Platt realized that their infant daughter had little understanding of who her father was. The books give parents a fun, interactive way to teach their children about family members in the military.

With a starting retail price of $33, it costs $18 to make each book. Platt and Lemonis agree that there’s a huge opportunity to expand the business into several series that broach other complex issues (i.e., homelessness, hunger and sickness).

“What do I need to do to take it mainstream and use it to explain any complex topic?” Platt asks. 

Lemonis is frank that her pricing will be a barrier to expansion: “Your job is to get a book like this in as many hands as possible,” he says. “There are people that may not be able to afford $33.” 

To learn the amazingly simple way she can get her cost of production down to $10–and her standard price point to $20–watch the full episode here: http://www.inc.com/zoe-henry/marcus-lemonis-bridget-platt-daddys-deployed.html

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How to Expand a Smart Business Idea With Smart Pricing | Ask Marcus Lemonis Teaser | Inc. Magazine video 00:30

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