FunHouse Update | Shark Tank Season 1

FunHouse aimed to take advantage of Times Square’s heavy foot traffic by creating an affordable entertainment space. Todd Robbins and David Adamovich saw the potential of this high-visibility location. They sought funding from Shark Tank investors to make their vision of a street fair-style venue a reality. Will the sharks love this idea? Find out in our FunHouse update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to FunHouse after Shark Tank.

Todd and David entered Shark Tank Season 1, seeking $300,000 for 20% equity in their FunHouse idea. Despite attempts to convince the sharks of the feasibility of their idea, they left without securing a deal.

In terms of a FunHouse update, the company never got off the ground due to high startup costs.

Shark	Result
Barbara Corcoran	No offer
Kevin O’Leary	No offer
Kevin Harrington	No offer
Daymond John	No offer
Robert Herjavec	No offer

Shark Tank FunHouse Pitch

• Entrepreneurs: Todd Robbins and David Adamovich
• Business: Entertainment and amusement attraction in Times Square
• Ask: $300,000 for 20% equity
• Result:  No deal
• Sharks: None

Todd and David stepped into Shark Tank, seeking an investment to cover the high startup costs and bring their innovative idea to life.

FunHouse Attraction is a proposed entertainment venue designed to offer a variety of live acts for visitors of all ages.

First, they aim to capitalize on the massive foot traffic in Times Square by providing a low-cost alternative to traditional entertainment.

Then, the venue will showcase a diverse range of talents, such as magic tricks, acrobatics, fire breathing, juggling, plate spinning, knife-throwing, and other unique amusements.

Additionally, their target audience includes everyone who loves to have fun, ensuring there is something for everyone to enjoy.

Finally, to demonstrate their concept, Todd performed a magic trick, and David, aka “The Great Throwdini,” showcased his knife-throwing skills.

Daymond John even volunteered to have knives thrown at him, and thankfully, David didn’t miss.

This was to give a glimpse of what their 25,000-square-foot venue, FunHouse Attraction, located in the heart of Times Square, would offer.

Although intrigued, the sharks were skeptical. Todd explained that admission would cost $15 per person, and he hopes to gross $9.4 million in the first year.

However, he admitted that the startup cost is around $1.5 million, and annual operating costs would be $7 million.

As a result, the sharks doubted the financial estimates, especially since Todd and David hadn’t explained how they would attract customers.

Furthermore, Kevin O’Leary questioned the numbers, highlighting the enormous risks involved in a completely untried business model with projected costs in the millions.

There was no guarantee of profit, and he quickly exited the negotiations.

In contrast, Robert Herjavec doubted the business model’s viability and said the risk was too high, so he was also out.

Kevin Harrington followed, citing the risk as his reason.

Barbara Corcoran mentioned the cost of branding as her reason for not offering a deal.

Finally, Daymond John also decided against it, leaving Todd and David with no deal.

With no offers from the sharks, Todd and David were forced to leave without a deal.

Let’s see if the sharks’ rejection discouraged the entrepreneurs from pursuing their ideas in our FunHouse update.

Shark Tank FunHouse Update

After airing, Todd and David struggled to find additional investors willing to take the financial risk for their idea.

Our research on the FunHouse update found that the idea ultimately failed to materialize, and the entrepreneurs have parted ways.

Unfortunately, the planned venue in Times Square, which would have showcased a variety of live acts, remained an idea rather than a reality.

Despite exposure to Shark Tank, our FunHouse update research found that the business failed to materialize into reality.

Subsequently, a year later, Todd returned to his street performance roots while David resumed his academic career as a graduate school professor. 

This will be our final FunHouse update.

Would you like to learn about the features of the other companies in Season 1, Episode 7? Follow the links below for our other company updates from the episode.

• Grill Charms Update
• Boogie Box Fitness Update
• Soy-Yer-Dough Update

Before you go, check out our Shark Tank Season 1 page for more updates.