Entrepreneur Guy Kitchell pitched his thrill-seeking entertainment company during
If you’re short on time, here’s a quick overview of what happened to Thrill Builders after
Guy Kitchell appeared on
|Kevin O’Leary, Lori Greiner, and Jason Blum||Accepted deal for $300,000 for 30% equity|
|Barbara Corcoran||No offer|
|Mark Cuban||No offer|
Shark Tank Thrill Builders Update
- Entrepreneur: Guy Kitchell
- Business: Thrill-seeking entertainment
- Ask: $250,000 for 20% equity
- Result: $300,000 for 30% equity
- Shark: Lori Greiner, Kevin O’Leary, and Jason Blum
Founder of Thrill Builders, Guy Kitchell, enters an extra spooky set during
From escape rooms to haunted attractions, special effects, animated props, and more, he claims that they’re the best in the biz. Because he loves Halloween, he wanted it to last more than one day a year.
That’s why he’s building a 50,000-square-foot facility called Thrill Factory, an indoor entertainment center for adults and kids. It will include 12 activities, one of which will be Wizard’s Adventure, where kids will use magic wands to solve puzzles and explore an enchanted forest.
There will also be interactive bowling games, haunted houses that let you blast animatronic monsters, and much more.
Guest shark, Jason Blum, CEO of Blumhouse Productions, which produces horror franchises, speaks up. He shares that his company has run a live event haunted house for many years, but they’re very difficult to make money at.
Guy says that he’s only done one haunted house, which is called Wisconsin Scary Land, and also agrees that they don’t make very much money.
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With his haunted house, he had 68 actors which in turn, ate up most of their budget during the 11-night run. For this reason, he has decided to move into the facility model which proves to be financially successful.
However, the buildout for their facility, which is in a mall, will cost around $7.2 million. $1.7 million of that has been raised, in cash. Additionally, he has a loan for $5 million to cover the rest.
He’s projecting to make $5.5 million within the first year, and then $10 million the next year. He plans to do this by offering birthday parties in addition to the games and attractions.
Although there won’t be a ticket price to get in, each game, attraction, and service will be purchased separately.
Guy’s existing business, Thrill Builders, will do $4.2 million in sales this year and did $3.2 million in the previous year. Within the last 6 years, they’ve done $12.2 million in total sales.
As far as profitability goes, in the year prior, he made $975,000 from his sales. However, he had to sell 17% of his company in order to get the $1.7 million investment.
Barbara Corcoran speaks up, stating that she doesn’t know the industry. So for this reason, she is out.
Lori Greiner wants in on the entire business, not just the facility that Guy is building. She offers $250,000 for 25% equity.
Kevin O’Leary and Jason are also interested. Jason eventually suggests partnering up with Lori and Kevin. The three agree on an offer of $250,000 for 30% equity.
Mark Cuban then chimes in, saying that Guy’s numbers don’t add up. Barbara also doesn’t understand why he wants a shark.
Despite this, Lori restates the deal with her, Kevin, and Jason for $250,000 for 30% of the entire business. Guy counters with $300,000 for 30% equity, and they all agree to the deal.
Research for our Thrill Builders update reveals that the company is still in business, and seems to be doing really well. We haven’t yet uncovered any news about how the 50,000-square-foot facility is coming along.
However, we’re sure with the help of 3 sharks on his side, Guy will be able to get it moving along quickly.
Browsing through the Thrill Builders website shows some big-name clients. These include Walt Disney, Dave & Buster’s, Six Flags, Knott’s Scary Farm, and many more!
While they also have some impressive clients, being on
If we get any more news on a Thrill Builders update, we will let you know.
In the meantime, check out these other company updates from Season 15, Episode 5 here:
For even more on companies and products, be sure to stop by our Season 15 Products Page.
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!