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The Best Ever CRE Show

JF1206: He Doubled His Business In 18 Months After Losing $30 Million In Contracts with Carl Banks

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7996 Ratings

🗓️ 21 December 2017

⏱️ 43 minutes

🧾️ Download transcript

Summary

After a very successful career in football, Carl continued his success trend in business, launching G-III Sports. With his new business, he made outerwear for the NFL. Until one day when reebok bought the licensing rights to make the outerwear. Rather than giving up, cutting costs, and downsizing, Carl and his team hustled working with smaller shops and in return only lost about 10% of his business. Carl Knew that reebok could not make the outerwear as good as they could, and in 18 months G-III Sports was awarded the licensing for outerwear again, which now doubled his business vs. what it was before. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!   Best Ever Tweet: “Entrepreneurism is about exploring every idea you have” - Carl Banks   Carl Banks Background: -2x Super Bowl Champion/NY Giants Legend, NFL's 80's All-Decade Team, and Michigan State University Hall of Famer -President of G-III Sports, the largest licensed sports apparel company in the world that produces for the NFL, NBA, MLB, NHL, etc. -Founded G-III over two decades ago and responsible for bringing back the iconic Starter satin jacket. -Travels with NY Giants as an on-air broadcast analyst and serves as a mentor to the team -The Carl Banks Foundation raises money for a variety of causes, most notably autism research -Based in New York City, NY Made Possible Because of Our Best Ever Sponsors:   Are you looking for a way to increase your overall profits by reducing your loan payments to the bank?   Patch of Land offers a fix-and-flip loan program that ONLY charges interest on the funds that have been disbursed, which can result in thousands of dollars in savings. Before securing financing for your next fix-and-flip project, Best Ever Listeners you must download your free white paper at patchofland.com/joefairless to find out how Patch of Land’s fix and flip program can positively impact your investment strategy and save you money. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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If you continue to create the experience and if the retailer can adapt to the changing taste of the consumer I think will be fine but there are certain

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things that you can't do online that you can do in person. Best ever listeners

1:20.9

before we jump into today's episode got two questions for you and this is for my fix and flippers out there

1:25.8

One are your financing costs eating what your bottom line and two are you looking for a way to increase your overall profits by reducing your loan payments to the bank or private lender?

1:36.0

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2:04.4

and they want to help you reduce your loan payment to the bank.

2:08.0

So here we go.

2:09.0

Passion Land offers a fix and flip loan program that only charges interest on the funds that have been dispersed

2:17.2

as opposed to the traditional model of lenders charging interest on the whole loan amount at the beginning.

2:25.0

You save a lot of money this way and it can be misleading when you get your terms quoted to you by the lender at a particular rate if they charge all the interest

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