Thrill Builders Worth Shark Tank Update

Halloween always seems spooky but it is a source of fun and entertainment. It has its own rich parts including wearing scary costumes and trick or treating. However, it only comes one day for a whole year which feels like a speck of salt in a heap of sand.

Guy Kitchell, the CEO of Thrill Builders, has introduced the best system for kids and adults to enjoy on their favorite Halloween occasions. It will launch a thrill factory that is a 50K square-foot indoor entertainment center. It will have 12 activities like Wizard’s adventures, hyper bowling, and a haunted house. Its main focus will be on the minute details that can give richness to the occasion.

The CEO came on Shark Tank to request $250K in exchange for 20% of his company. He also demonstrated his rocking chair and zombie surprise to give a glimpse of his thrill factory. Let’s see if he got the deal or not.

Thrill Builders Worth Shark Tank Update

Guy was looking for an investment of $250K in exchange for 20% equity in the company. At the time of the episode, he valued his company at $1.25 million. Guy successfully secured a deal with Kevin, Lori, and Jason for an investment of $300K for 30% equity in the company. The investment adjusted the company’s net worth to around $1 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Thrill Builders in 2024 is around $5 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary + Lori Greiner + Jason Blum	$250K for 20% equity	$300K for 30% equity	Yes
Mark Cuban	Out	N\A	N\A
Barbara Corcoran	Out	N\A	N\A

The CEO’s Backstory

Guy Kitchell is the Founder and CEO of Thrill Builders, a company he started in December 2011. Along with Thrill Builders, he owns three other businesses: Klima Deodorant, Halloween FX, and Escape in Time Escape Rooms.

Initial Pitch

The CEO came on Shark Tank to seek $250K for a 20% equity stake. His company is a Halloween-themed factory that provides 12 different activities to both adults and kids.

Queries about the Product

Jason, after highlighting how it is difficult to maintain and earn money from such factories, asked Guy about his sales from the haunted houses that he already worked on. Guy pointed out that he has done only one haunted house called Wisconsin Scary Land. For the same reasons of low economic gains, he has shifted to the family entertainment business. His haunted house has a total of 68 actors that are really difficult to maintain which results in a low budget.

Moreover, their earlier haunted house was open for 11 days only. The haunted house, escape room complex, and small family entertainment center are their own and they are now making a bigger version covering 50K square feet.

Cuban inquired about his plans to build that bigger thrill factory. The CEO highlighted that their target area is in a mall and for that they need a total of $7.2M. They have already raised $1.7M for that and also have a loan of $5M from the bank.

Corcoran wanted to know how much money he was expecting to make from the business. He related that his estimated gross is $5.5M in the first year and then moves to $10M.

Kevin asked if they were expecting to sell any food items or merchandise in the factory too. Guy pointed out that they have arranged for birthday parties, bowling, and hyper-bowling for kids as well.

Corcoran inquired about his ticket prices. He answered that there were no ticket prices.

Kevin was curious to know if he invested in the business, what would he have a share in, in the already established scary site or the new facility? Guy confidently replied that he was willing to do any of them. Moreover, his existing business will do $4.2M this year in sales. In the last year, it was $3.2M, and $12.2M in the last six years.

Lori asked about his profit from last year’s sales. It was about $975K profit from last year’s sales.

The guest shark also wanted to know if he owned all the business now. Guy replied that he had already sold 17% of his business to raise $1.7M.

Corcoran was curious to know why he was so interested in getting a deal from a shark. He highlighted that it is not for the money but to get exposure and he wants to build nine more thrill factories in the next five years.

Shark’s Response and Final Decision

Corcoran was the first shark out of the deal as she considers the business to be too scary for her to handle.

Kevin highlighted that the business is something new for him so he will really want to invest in it. He offered him $250K but for a 25% equity stake.

Lori also showed interest in the whole business so she also offered him $250K for 25% of his business.

Blum, the guest shark, highlighted that he is already good in such a scary business and it will be fruitful for Guy to attract more customers.

Afterward, Blum, Lori, and Kevin gave him a combined offer of $250K for 30% equity. Guy counter-offered them $300K for 30% equity, which was readily accepted by the three sharks.

Product’s Availability

The company is still operating and it appears that it is successful. According to the Thrill Builders website, they have worked with several well-known clients, including Walt Disney, Dave & Buster’s, Six Flags, and Knott’s Scary Farm, among others. Additionally, as of May 2024, the websites for Guy’s Escape in Time and Halloween FX are still active.

Conclusion

Guy Kitchell’s appearance on Shark Tank resulted in a successful deal with Kevin O’Leary, Lori Greiner, and Jason Blum, who saw great potential in his Thrill Builders business. His plan to create a 50K-square-foot entertainment center, filled with activities for both kids and adults, impressed the sharks. With a strong track record and ambitious goals, Guy is now set to expand his Halloween-themed entertainment empire, aiming to open more thrill factories in the coming years.