Stories have been part of human civilization from the day humans came to Earth. They highlight our rich history, entertainment, and something to crave for humans’ deepest desires. Among them, horror stories are also narrated on Halloween and they make the occasion more pleasurable through historical and spooky settings.
Mike Huberty and Allison Jornlin, the owners of American Ghost Walks, have the perfect story-line tours for people of all ages. They provide deeply researched history tours in beautiful settings. Their tours are basically entertaining presentations that are based on factual details, which provide not only spooky effects but also truthful observing materials from history to the audience.
The owners came on Shark Tank to request $250K in exchange for 15% of their company. The brother-sister duo also related the story of Corliniaus at the beginning with special spooky effects to impress the judges with their storyline. Let’s see if they are able to get the deal of their choice or not.
American Ghost Walks Net Worth Shark Tank Update
Mike and Allison were looking for an investment of $250K in exchange for 15% equity in their company. At the time of the episode, they valued their company at $1.67 million. Unfortunately, they did not secure a deal with the Sharks. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of American Ghost Walks in 2024 is around $1.2 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
Out
N\A
N\A
Mark Cuban
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
Barbara Corcoran
Out
N\A
N\A
Jason Blum
Out
N\A
N\A
The Owner’s Backstory
Allison Jornlin started Milwaukee’s first ghost tour in 2008, and two years later, her brother Mike launched the first Madison Ghost Walk in 2010. While living in Minneapolis in 2015, Mike noticed that there was not a haunted history tour in the Twin Cities to highlight the interesting legends of downtown Minneapolis. So, he created the Minneapolis Ghost Walk that year.
he company later grew to include tours in St. Paul, Red Wing, and Stillwater. They also expanded in Wisconsin, adding tours in Lake Geneva, Waukesha, and the Wisconsin Dells.
Initial Pitch
The owners came on the show to seek $250K for a 15% equity stake. They provide live, guided, historical, and haunted tours that are not only entertaining but also based on true data. Their tours are now present in seven states in Puerto Rico.
Queries about the Product
Blum, the guest shark, asked the first question about the number of staff they have to give such tours. Mike pointed out that they have almost 32 employees giving historical tours to the audience.
He also asked if the guides were just explaining the stories or playing a character in the story. The owner highlighted that they have hired people who are already passionate about such storytelling. They are engaged in the paranormal plot of the stories too.
The brother and sister write the script, research it, and find a suitable story. They move to different locations to find rich, factual stories and they even go to smaller locations where untold stories can be found.
The guest shark was also curious to know about the duration of running the business and their sales so far. Mike related that Allison was the first sibling to work in the horror industry in 2008 in Milwaukee, Wisconsin, and Mike started in Madison, Wisconsin in 2010. Then, they opened in Minneapolis, then St. Paul, which are just some of their locations.
According to the statistics of 2020, in Wisconsin and Minnesota, they make around $92K in gross sales. In 2021, they made $392K in Illinois. They made around $546K in 2022.
Corcoran wanted to know if all their tours were successful. Mike replied in the negative.
Blum also asked about their activities in the winter season. The owner replied that in the winter, they close the business down. Moreover, they spend around $300K in the business. Thus making $92K profit from the total sales.
Blum was the only shark that was asking a lot of questions from the brother-sister duo. He once again interrupted the discussion and inquired about their net from the 2022 sales. Mike highlighted that in terms of net, they were in the negatives. They lost around $42K.
In the same year, they reinvested in the business too to make a tour arrangement in Chicago.
Cuban asked the first question from his side about the amount they spend on acquisition. Mike pointed out that they spent $115K on the acquisition.
They are estimated to make a projected gross of about $650K in 2023 and their projected spend will be of $600K. Moreover, they are in the business full time and have also quit their individual jobs for it.
Kevin was curious to know about the amount they spend on themselves from the business. Mike highlighted that they pull out an amount that is enough to pay their bills. Allison added that they also want to invest in the haunted cruise market too.
Shark’s Response and Final Decision
Blum was the first shark to drop the deal as he considered their model of business to be too thin. He also advised them to use their available assets before taking in more investors.
Lori and Cuban followed Blum and decided to drop the deal too because of the same reasons.
Corcoran highlighted that she is confused by their model and she thinks they are not presenting something tangible to be invested in. Thus, backing out of the deal.
Kevin being a true money-minded shark highlighted that he can’t invest his $250K on a business that does not seem profitable to him. Finally, Mike and Allison’s last hope also broke with Kevin backing out of the deal too.
Although the company didn’t secure a deal on Shark Tank, they seem to be doing well. Their website, American Ghost Walks, offers a chance to join their mailing list, where you will get a free ghost story and discounts on merchandise. They also have tours in California, Hawaii, Illinois, Louisiana, Maine, Minnesota, Wisconsin, and Puerto Rico.
Their social media following is quite good too, showing that people are enjoying what they offer.
Conclusion
Although Mike and Allison didn’t get a deal on Shark Tank, their business, American Ghost Walks, continues to grow and attract interest. With tours in several states and Puerto Rico, they offer a unique experience blending history and spooky storytelling. Despite facing financial challenges, the sibling duo remains passionate about growing their haunted tours.
Their following and strong online presence suggest that people are enjoying their offerings, and they continue to find ways to keep their business growing.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
