Chairman and CEO of Camping World talks sponsorship, CNBC show
Marcus Lemonis has managed to create the ultimate fusion between that which is nearest and dearest to his heart -- big business, small business, NASCAR and his reality television show, "The Profit."
As Chairman and CEO of one of NASCAR's national series title sponsors, Camping World and Good Sam Enterprises, a diehard race fan and a burgeoning television star of the CNBC hit show (Tuesdays at 10 p.m. ET/PT), Lemonis has enviably and smartly positioned himself and his companies to share in one another's success. And there's been plenty of that.
The 40-year-old entrepreneur signed a seven-year extension in May for Camping World to remain title sponsor of NASCAR's Camping World Truck Series -- he says a sign of commitment and a signal of his satisfaction with the series that has truly featured some of the most competitive product on track among a group of NASCAR's most highly motivated young and diverse drivers.
"In most cases, it's an expensive sport -- expensive to find sponsors, expensive to operate, expensive to make the trips -- and NASCAR has done a nice job of recognizing that these truck team owners are a lot like small businesses. And as you go up the ranks, the Nationwide Series turns into medium business and Cup Series Fortune 500 businesses," Lemonis explained.
"I like that they've made it easier, more competitive and for me, (provide) far more opportunity for these younger and more diverse drivers and that's what's exciting. You could literally start a race on any given night and not have even four or five predictable winners. A 16-year-old kid could win, and it doesn't get any better than that for me."
That connection between the Camping World Truck Series and small business is viable and strong for Lemonis, whose starring role on "The Profit" includes finding struggling small businesses around the country and helping them gain their footing -- sometimes with a complete makeover. And in turn, he invests his own money to make it happen.
From day one on his popular show -- whose third season begins tonight at 10 ET/PT -- Lemonis has promoted a tangible link between some of the small businesses he salvages and the world of NASCAR.
One of the first businesses featured on the show, CarCash, became the race title sponsor for one of the Camping World Truck Series' most successful and perennially anticipated events, the 1-800-CARCASH Mudsummer Classic at the famed Tony Stewart-owned Eldora Speedway.
"I've used NASCAR from the first episode of season one," Lemonis said. "It is still heavily integrated and actually sponsors the dirt track event at Eldora -- and that was first business ever featured on the show.
"Sometimes the episodes fit (naturally with NASCAR) and sometimes they don't, but it's been great for CarCash and every time that race airs or is mentioned, we get an influx of business.
"I love the sport of racing, but if I didn't feel like it helped my business, Camping World or other businesses that have invested, I don't think I would do it. At the end of the day, you have to do things that make sense. NASCAR, for me, has had a phenomenal return on my investment.
"I think the thing I'm most grateful for and I can't stress this enough is that these fans do not have to support the companies that sponsor their favorite driver, but they do and they do it religiously. And I think there's something to be said for that.
"I can't think of any other sport in this country where the fans are as committed to the teams and committed to the sponsors that make it all happen and I think that's why these big and small companies keep coming back.
"It's what I call the NASCAR effect, and it really makes a difference."
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