Millions of people travel to Times Square in New York City every year. That’s why Todd Robbins and David Adamovich want to capitalize on building an entertainment attraction right in the heart of the city. Will the sharks invest in their idea on
Shark Tank FunHouse Update
- 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
Bringing one of the most memorable pitches to
All of this was to display a sampling of what their 25,000 square foot venue, FunHouse. Located in the middle of Times Square, it would feature acrobats, jugglers, plate spinners, and more!
Admission into the venue, which would include a cafe, would cost $15 per person. Shockingly, Todd and David estimated that they’d generate $9.4 million in gross revenue during the first year of operation, with operating costs hitting $7.4 million.
The venue itself would cost an estimated $1.5 million to construct.
The sharks didn’t seem to believe the financial estimates especially since they hadn’t explained how they were going to convince customers to show up. Kevin O’Leary had heard enough and dropped out first without making an offer.
Robert Herjavec, Kevin Harrington, and Barbara Corcoran all followed, going out because the investment seemed too risky. Last but not least, Daymond John also went out.
With no offers from the sharks, Todd and David were forced to leave
We have bad news to share in our FunHouse update. It turns out that the company is no longer in business and both entrepreneurs have since gone their own ways.
Due to the sizable startup costs, it’s not really that much of a surprise that things never got off the ground, after failing to secure a deal on
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Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!