Marcus Lemonis is embarking on a brand new chapter after 'The Revenue.' The entrepreneur spoke with HL about his HGTV collection 'The Renovator,' and his mission to assist renovate houses and households.
After practically a decade renovating small companies on The Revenue, Marcus Lemonis is taking his abilities inside the house on The Renovator. He’ll be tackling the enterprise of house within the new HGTV collection, premiering on October 11. HollywoodLife spoke EXCLUSIVELY with Marcus about why The Renovator was the right subsequent mission for him after The Revenue.
“The Revenue is a type of basic reveals that I feel won't ever go away. All people at all times desires to speak about it. I used to be out yesterday and any person stated, ‘Hey, The Revenue’s acquired a brand new present referred to as The Renovator. Why didn’t you simply name it The Revenue?’ I’m like, ‘Nicely, it’s form of a unique concept.’ What occurred was I spent a decade inside the truth of small enterprise in America,” Marcus informed HollywoodLife. “A typical theme is that you simply had good companies and dangerous companies, and the great companies had one thing in frequent, which was a great house and a great private life. So we all know what the alternative means. COVID hit and I began to actually turn into involved about divorce charges, foreclosures, plenty of points occurring at house, individuals preventing, and we’re all with individuals on a regular basis now. All people appears like they’re in smaller areas.”
He continued, “So I sat down in January of 2020, virtually three years in the past with HGTV, and stated, ‘Look, I’d like to do that present.’ They checked out me they usually’re like, ‘You’re a enterprise man. Thanks a lot for coming by, however are you certain this can be a good match?’ I stated, ‘Nicely, pay attention. I spend my life engaged on individuals, not companies. I do know you guys usually are not conscious of it, however I’ve renovated a lot of companies. Renovating houses is what I do. Simply because individuals don’t find out about it doesn’t imply I’m not succesful.’ So I gave them this pitch to enter households’ houses and never solely renovate the home however renovate the households. I wished to actually change the best way individuals considered their houses. When you’re an HGTV viewer, this present will really feel very completely different for you. In case you are a historic Revenue viewer, this present will really feel very acquainted to you.”
Marcus famous that The Renovator provides viewers the prospect to “peek into different individuals’s points at house. I’m coping with a husband and spouse who don’t agree on the way to mum or dad children. I’m coping with a divorced couple that wishes to get again collectively. I’m coping with a father and daughter who misplaced their mom and may’t transfer on. I’m coping with a husband and spouse the place the spouse discovers that the husband was hiding $200,000 of cryptocurrency that she didn’t know existed. We’re coping with actual household points. I’m coping with a home that has mildew in it, and the husband virtually dies, however he didn’t know why. We’re coping with actual points. I wished on the finish of the season for a viewer to say I noticed myself in at the very least a type of episodes, sitting with their partner or their associate saying, ‘Hey, babe, that’s us… Hey, these are our youngsters… That is our scenario… We have to repair this… We have to know this stuff… We have to have a plan… We have to perceive cash… We have to talk higher.'”
The host harassed that this isn't your run-of-the-mill house enchancment present. “One, house enchancment is extra than simply the partitions,” Marcus stated. “My one line to this household is, ‘Transfer a wall, change an perspective.’ The opposite factor that was form of enjoyable for me is that I put the backyard again in Dwelling & Backyard Tv. I do exterior renovations, large ones, in each episode as a result of I’m a giant believer that the worth of the home is established by the 4 corners of the property, not the 4 partitions of the home. A part of what will get households to spend extra time collectively is to have good outdoors house as properly.”
All through his journey filming the primary season, Marcus observed various tendencies within the houses he helped renovate from the within out. “One was deferred upkeep. Persons are letting their homes go, they usually’ll blame it on cash, which is a big crock of not-good stuff as a result of it doesn’t value cash to have cleaning soap and water and spend a while selecting up the rubbish in your yard,” Marcus continued. “The second factor is the dearth of communication inside the house, the place individuals weren’t essentially getting their wants met as a result of they weren’t speaking what their wants had been. That may be a large drawback. The third is the lack of understanding that folks have about their house financials.”
Marcus appears on the house like a enterprise. “If you have a look at a enterprise, you'd say to your self, is the enterprise worthwhile? Or does it lose cash? How do you identify that certain quantity of income and a certain quantity of bills? If one provides as much as greater than the opposite, there’s your reply. It’s no completely different in your own home, particularly, you with your own home,” Marcus defined. “You could have revenue that is available in, that’s the cash that goes into your checking account, and you've got bills that exit, that’s the cash to pay lease or mortgage and no matter all that stuff is that it takes to stay on the finish of the month. Are you the other way up? Are you right-side up? I’ve requested plenty of householders about that, they usually don’t know the reply. The rationale they don’t know the reply is as a result of we will pull on credit score strains on our home. We are able to put stuff on our bank cards, and we don’t know if we’re poor. A part of the opposite piece of this technique of mine over the subsequent a number of years is to construct monetary house literacy, the place individuals aren’t shopping for issues they shouldn’t purchase. They’re dwelling the correct manner. That’s a giant, large concern, particularly going into this darkish financial system we’re about to enter.”
The Renovator host additionally broke down how he would outline the enterprise of house. He informed HollywoodLife that there are two major points at hand.
“One is probably the most thrilling factor that I’ve ever completed in my complete life was shopping for my first house. I paid $267,450 for my home 20-something years in the past. It was the scariest second. I needed to have a downpayment of $17,150. I do know these numbers as a result of they left an enduring impression on me. However once you make that house buy, notably for most individuals, the aim is to cross that on to the subsequent technology. The aim is to protect that worth, and I would like individuals to do this. That’s an asset like in your enterprise. That’s an asset it is best to shield,” Marcus stated.
He added, “The second factor is knowing the well being of the home and the well being of the enterprise is identical. What do the financials seem like? What are the taxes? What’s the upkeep? What’s the revenue? What are the bills? How does all of it work? How does our home evaluate to our neighbor’s home? What’s the worth? What’s the market inform us? How a lot debt do we've got? What’s the rate of interest? I would like individuals to know all of that. Whether or not individuals prefer it or not, I’m going to provide them the within baseball data on homeownership that most individuals most likely don’t need them to know — the way to get a mortgage, the way to correctly purchase a house, and what are the steps that it takes. I view myself as an educator, not an entertainer, and I take advantage of media as my leisure platform to get my message throughout. It’s that easy for me.” The Renovator will air Tuesdays at 8 p.m. on HGTV.