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Investing in a business concern to ensure yous have a stable income seems like a wise decision — until it isn't. Even celebrities who already have a ton of cash tin can't exist devil-may-care nigh choosing investments if they desire to stay rich. From restaurants to habiliment lines, the opportunities are plentiful, only it takes conscientious planning to avoid embarrassing concern disasters.
Depending on your historic period, you probably remember these unforgettable celebrity business flops. Think y'all tin can guess who lost the near? Let's have a look!
Britney Spears – Nyla Restaurant
When Britney Spears opened Nyla Eating house in 2002, the fizz was real. She was in her prime years, and it seemed logical she would invest in a different type of business organisation. Nyla was located in the Dylan Hotel in Manhattan, New York City.
Her divergence from the business occurred in the same yr after she butted heads with the management, who claimed she was responsible for the eating place's debt and other fiscal issues. Fun fact: The restaurant was supposed to be called "Pinky," which was the nickname Justin Timberlake gave Britney when they were dating.
The Kardashians are definitely business moguls, just not all their business organization ventures have been a success. Take the Kardashian Kard, for case. In 2010, the Kardashians announced a controversial debut of a prepaid debit card featuring the sisters' faces on the front. The business failed a month after its launch when the legality of certain fees raised concerns.
An attorney claimed the loftier fees were unfair and unethical, particularly for the Kardashians' largely immature developed fanbase. Many reputable websites took note of the "Kardashian Kard ripoff," which prompted the Kardashian family's attorney to take firsthand action and terminate the business to protect their reputation.
Kanye West – Pastelle Clothing Line
Yeezy has had plenty of way debuts during his career, and non all of them take been successful — or inspiring. Earlier his other fashion lines, there was Pastelle, the debut that never saw a debut. In 2006, Kanye planned to release his Pastelle clothing line in collaboration with Adidas.
In curt, a lot of drama happened, and co-ordinate to reports, the investors didn't want to invest a sufficient amount of money to get the business off the footing. Kanye himself said y'all need to invest at least $100 million when you lot're making a new make, and it clearly didn't happen.
Donald Trump – Trump Shuttle
Number 45 is a known businessman, but not many people know virtually his business organization failures. I of those epic failures was a very ambitious airline. Back in 1988, Donald Trump introduced his own branded airline shuttle. The luxury shuttle service was supposed to run between Washington D.C., Boston and New York.
Red carpets, gold and other luxury elements cost Trump $1 meg per shipping. Three months after the launch, one of his planes almost crashed. The nearly miss, ascension fuel prices and a depository financial institution loan of $380 meg fabricated Trump make up one's mind it was time to leave his aviation dreams behind and effort something else.
Paris Hilton – Dollhouse Collection
Information technology has been proven plenty of times that Paris Hilton knows what she's doing when information technology comes to business organisation. The Hilton heir has made quite a name for herself, only not every idea resulted in cash in the banking concern. In 2008, Paris Hilton for Dollhouse was released.
Information technology was a collaboration betwixt Hilton and the popular wearable label, and absolutely everyone was buzzing almost it. The collection basically had Paris' face and name on about every article of wearable. Unfortunately, the glory didn't final long, and Paris moved on to other business organization ventures that garnered more entreatment.
Oprah Winfrey – Own
In 2011, Oprah was the talk of the boondocks when she decided to operate a cable channel accessible to 80 million homes. The Oprah Winfrey Network (OWN) was an aggressive idea, with more than than $500 million invested in the project. Unfortunately, her team failed from the commencement to understand what people responded to and how they watched cable channels. Low ratings and viewership striking the network hard.
Own was arguably Oprah'southward biggest failure, only unlike other celebrities on our list, Oprah nonetheless hasn't completely given up on her business organization venture. Who knows? Perchance OWN is finally on rails to pull itself out of some dark days.
Jennifer Lopez – Madre'southward Restaurant
Celebrities have a thing for restaurants, only non all restaurants have a thing for celebs. Madre'south was inspired by J.Lo's mom and grandmother'south cooking, and it started its bumpy journey in 2002 in Pasadena, California. In her own words, she described information technology as "a family restaurant with a little chip of sexiness to it."
It lasted about 6 years before mysteriously closing its doors in 2008. The Latin American restaurant featured some of the culture'south most typical dishes, only J.Lo's name wasn't plenty to entice the public. No official reason was e'er given for the decision to close it down, but the assumption is poor performance.
Naomi Campbell & Friends – The Way Cafe
In her prime (mid-1990s), Naomi Campbell decided it was fourth dimension to enjoy some passive income in the grade of business ventures. In 1995, she became the confront of a glamour-themed cafe chain chosen Fashion Café forth with Christy Turlington, Elle Macpherson and Claudia Schiffer.
It had a solid showtime and good buzz, but the novelty eventually faded, and it failed to make the necessary profit to stay open. To top information technology all off, the business partners got involved in a coin laundering scandal, making information technology articulate that it was improve for this cafe concatenation to close its doors for expert.
Steven Spielberg – Swoop Eating place
Steven Spielberg's heed seems to overflow with amazing ideas, merely Swoop Restaurant wasn't one of them. In 1994, he decided to open up a nautical-themed restaurant in Beverly Hills. The place was filled with impressive dive-themed decor and even featured a simulated diving session experience.
That still wasn't plenty to charm the demanding Beverly Hills crowd, and the novelty of it started to wear off, resulting in dismal merchandise sales, which were a huge selling point for the business concern. In 1999, the restaurant officially shut its doors and became a learning lesson for what non to do in the niche of themed restaurants.
Hulk Hogan – Pastamania Restaurant
When Hulkmania was at its top, Blob Hogan decided to introduce Minneapolis' Mall of America to the ultimate Hulk eating experience. Who wouldn't want to exist potent and tough like Hulk Hogan, right? Although it definitely seemed like a solid business organization investment idea back in 1995, it didn't work out in the end.
The carte wasn't that different from your standard pasta eating house menu, apart from the fact that it was branded by everyone's favorite wrestling guy. The eatery shut its doors almost a year after, allowing the Pastamania name to exist used past a fast food chain from Singapore.
Donald Trump – Trump Mortgage
The Trump Shuttle wasn't the only Trump business venture that failed to turn a profit back in the day. With his focus on existent estate, it's not surprising he tried to dip into the mortgage concern. The success of this venture was very short lived.
About of the Trump Mortgage failure came down to poor timing, as the 2006 recession struck, and the mortgage lending industry began to crumble with the marketplace crash. Everything was questioned, including the CEO'south groundwork. In 2007, Trump Mortgage officially closed down after declining to thrive in the struggling market.
Pete Wentz – Angels & Kings
In 2007, Pete Wentz, a pop member of Autumn Out Boy, and several other musicians decided information technology was fourth dimension to open up a nightclub. Wentz claimed he only wanted a place for him and his friends to hang out. Later on, the social club launched in several other locations, including Chicago.
The hype of the celebrity-endemic nightclub died downwards after it was reported that the New York location got defenseless serving alcohol to minors and had to shut down in 2012. A few years later, they also closed the Chicago location — and that was the end of the Fall Out Male child nightclub.
Jim McMahon – McMahon'south Steakhouse
Ex-Chicago Bear Jim McMahon made a name for himself in the NFL in the '90s and likewise thought he could make a name for himself past investing in a eating house — a steakhouse in Chicago. Unfortunately, McMahon got into business with some pretty questionable characters whose reputation wasn't pristine amid those in the banking concern loan world.
The restaurant was offset chosen Chicago Stadium, merely the owners of the Chicago Stadium quickly sued McMahon and his other business partners. According to reports, the eating house participated in some shady business practices, and McMahon had to distance himself from it.
Eva Longoria – Beso Eatery and Nightclub
Eva Longoria is no stranger to the culinary scene — remember her role equally a invitee judge on flavor 4 of MasterChef? In 2008, she backed a Los Angeles eating place called Beso. The place was a hot spot for quite some time before closing its doors in 2011 amidst a ton of drama.
The business filed for bankruptcy in order to restructure $5.7 million worth of debt, and Longoria has reportedly been involved in several lawsuits. Beso subsequently relaunched nether new buying (without Longoria) and with a new name, Viva Hollywood, simply that eatery eventually closed as well.
Jay-Z – J-Hotels
The world'south beginning billionaire rapper is no stranger to successful business organisation ventures, but the thought that "the sky is the limit" definitely doesn't utilise here. Jay-Z definitely reached a limit with his investment in J-Hotels. The luxury hotel was supposed to open in Manhattan'due south Chelsea expanse, merely lack of funding and a recession halted the construction.
The recession going on at the time basically made it harder to go the funding needed, and the whole business organization projection was put on hold in 2008. Information technology looks like it never resumed, probably because Jay-Z became interested in plenty of other appealing ventures.
Natalie Portman – Té Casan
Let'due south take a interruption from restaurants and hotels for a while and go to 2008, which actually seemed to be a prime time for celebrity business investments and hotels. Natalie Portman was ahead of her time when she collaborated with Té Casan to create a vegan shoe line.
Equally a long-term vegan, she felt the need to invest in something she believes in, and she felt a shoe line was definitely the way to go. Unfortunately, the loftier cost of the shoes didn't exactly appeal to consumers — not even diehard vegans — and the shoe line's website disappeared by the end of 2008.
Jermaine Dupri – Café Dupri
Jermaine Dupri rose to popularity in the '90s. From forming the iconic Kris Kross to producing music for all your favorite celebrities, Dupri was definitely at the tiptop of his game. In 2005, he decided to attempt other business concern ventures and invested in a large café in Atlanta that seated 105 guests.
The menu consisted of high-quality dishes that were too considered healthy. Although it seemed like a decent idea and the cafe had big expansion dreams, the success didn't concluding. 3 years later, Buffet Dupri had to close its doors after struggling to make plenty profit.
Beyonce – House of Deréon
That's correct — Queen B has experienced many failures forth with her success. Sounding similar a house out of Game of Thrones, Firm of Deréon was a fashion line Beyonce collaborated with her female parent, Tina Knowles, to create in 2006. The name paid tribute to Beyonce'south maternal grandmother.
The style mixed the influences of hip hop with high fashion, and although information technology seemed like it was taking off at kickoff, information technology was ultimately criticized for its high prices. In 2008, the line also came under fire for its ad with petty girls wearing full makeup and high heels. The star discontinued the line in 2012 without formal notice.
Lily Allen – Lucy in Disguise
Lily Allen also tried to dabble in the fashion world. The eccentric vocalizer is known for her fashion sense, then it seemed only fair to see if the rest of the world (or at least London) would catch on to her await. She opened Lucy in Disguise, a vintage vesture store, with her sis in 2010.
The store's location was one of the reasons for its failure — London'south Covent Garden. High existent estate prices forced the visitor to move to a somewhat cheaper holding in Soho, but it wasn't enough to save the business, and it ceased operations in 2012.
Neil Young – PonoPlayer
PonoPlayer was a fairly modern business organization venture launched past Neil Immature in 2014. It was actually successfully crowdfunded via the pop platform Kickstarter, where information technology raised $half dozen.2 million. The device was advertised as a modern-day iPod with hullo-resolution music service, merely it was criticized for its poor design and high toll tag ($400).
Three years later, Neil Young ceased operations and closed the PonoMusic store, which sold downloadable music. The reason? Record companies were charging too much for hi-res music formats, and the business organisation couldn't make a profit, despite the steep price of PonoPlayer and its initial funds.
Sylvester Stallone, Arnold Schwarzenegger & Bruce Willis – Planet Hollywood
Planet Hollywood was a '90s sensation and boasted more 100 locations. Stallone, Schwarzenegger and Willis were its investors and the faces promoting the make. The initial hype of eating amid popular movie props attracted endorsements from some of the biggest Hollywood names, but it wasn't all sunshine and rainbows.
The business filed for bankruptcy twice and reduced its number of restaurants to less than a dozen to ensure it could financially sustain itself and make a profit. This prompted investors like Arnold Schwarzenegger to move on and cut ties with the business. Planet Hollywood is yet around but with much less hype and fewer restaurants.
Kevin Costner – The Clubhouse
Themed restaurants were extremely popular investments for celebrities, and Kevin Costner was in on the idea as well. In 1997, he dabbled in the food manufacture in an try to make more than coin, of course. The theme of The Clubhouse was golf, and unlike many other glory restaurants, it managed to last a surprisingly long time.
Based in Costa Mesa, California, information technology featured the exclusive look and fashion of a golf clubhouse that was open to the public. Ironically, it opened right beyond from Planet Hollywood, which was closing at the fourth dimension. The business concern began to fail in 2007.
Curt Schilling – 38 Studios
A unique business organization venture for its time, 38 Studios was the brainchild of Brusque Schilling, who had a unlike vision than most sports celebrities. The former Scarlet Sox bullpen wanted to try something new, so he launched a video game business in 2006. Unfortunately, game development takes years, and that was hard to sell to investors.
The company released an action role-playing game called Kingdoms of Amalur: Reckoning. Unfortunately for Schilling, the gaming visitor declared bankruptcy in 2012 after only releasing a single game. Despite the business' failure, the game was pretty well received by the gaming community.
Pharrell Williams – Qream Liqueur
Pharrell Williams always had big visions and a good ear for music, but in 2011, the popular producer ventured into the world of liqueur with much less impressive results. He worked with Diageo to launch Qream strawberry and peach liqueurs, specifically marketed to women.
Williams blamed Diageo for insufficient marketing efforts to launch the liqueur, and he sued the company in 2013 after it appeared to abandon the bargain before the contract was over. The beverage wasn't marketed effectively, and the Qream dream died with minimal fanfare.
Flavor Flav – Flavor Flav's Craven & Ribs
Who doesn't know Flavor Flav? In 2011, the popular rapper decided to combine his dearest of fast food with business concern by opening a restaurant in Clinton, Iowa. Although it sounds yummy, the business organization really didn't last that long. In fact, information technology's one of the shortest examples of business failure on the list — 3 months.
The eating place closed its doors due to a fallout between Flavor Flav and his business concern partner, Nick Cimino. The two clashed over operations and money management, leading Flav to decide that fast food actually wasn't for him afterward all — at least when it came to running a business.
50 Cent – Magic Stick Safety
Magic Stick was 50 Cent's try at a unique business organisation venture — in condoms. Yes, you read that right. In 2008, the rapper created a line of condoms, but he apparently failed to understand the reason behind condoms in the start place. His company's condoms were laced with chemicals designed to increment the wearer's sexual performance.
The rapper was asked near his failed business organisation venture, and he said, "It just didn't work out because I wanted things in it that wouldn't work." P.S.: "Candy Shop" lyrics were written way before the Magic Stick line was launched.
Blake Lively – Preserve
Blake Lively is known for the awesome sense of humour she shares with her even more than awesome husband. In 2014, she decided to launch a lifestyle website. The timing was perfect, as celebrity lifestyle websites were at their tiptop, but Lively wasn't a large enough lifestyle figure to attract much interest.
Glory product endorsements are often too expensive for the general public and can also experience false, which raises concerns when it comes to trust. The website was abandoned well-nigh a year later, and her lifestyle venture was never mentioned again. That's okay, she's still owning the Instagram game.
Heidi Montag – Heidiwood
Welcome to Heidiwood, a fashion line that failed to connect with its customers and make sufficient profit. It belonged to Heidi Montag, a pop reality television character who wanted to be known for more than than just her dramatic Tv set roles. She launched Heidiwood in 2007 in collaboration with Anchor Blueish Retail.
Although the line looked promising, customers didn't actually care for the overpriced items, and her contract wasn't renewed the following year. She returned to reality Television receiver and is nevertheless a prominent figure in the celebrity gossip world, then she bounced back financially from the failed venture.
Nicky Hilton – Nicky O Hotels
Paris Hilton wasn't the simply Hilton making money moves. Back in the solar day, her sis Nicky Hilton wanted to stay true to her family legacy and open a hotel chain of her own. Nicky O Hotels was a premier luxury hotel make, set up to launch in Miami and later Chicago.
Hilton planned to work with Roberto Cavalli to blueprint a luxurious penthouse suite for the Miami location. Her ambition was to combine the world of entertainment with luxury and blueprint. However, the projection failed to see the calorie-free of solar day afterward a lawsuit against Hilton highlighted an alleged breach of contract.
Jennifer Lopez – Sweetface
Making the listing again, J.Lo's high-end Sweetface vesture line was however some other failure in the celebrity fashion world. Attempting to combine urban streetwear with modern fashion, the line failed to deliver annihilation unique that couldn't be constitute for a cheaper price in a store down the street — according to shoppers' feedback.
Customers complained virtually loftier prices also as the quality of the clothes. Negative feedback and poor sales forced Kohl's to completely stop the line's production in 2009. Fun fact: Sweetface was J.Lo's nickname, given to her past her old manager.
Source: https://www.consumersearch.com/technology/celebrity-business-disasters-donald-trump?utm_content=params%3Ao%3D740007%26ad%3DdirN%26qo%3DserpIndex