Wisconsin-based entrepreneur Guy Kitchell appeared on Shark Tank Season 15 to pitch his business, Thrill Builders. He explained to the Sharks that his company mainly offers thrilling experiences through various activities such as escape rooms, themed attractions, haunted houses, laser tag, and mini golf, all within a 50,000-square-foot indoor entertainment center.
Did any of the Sharks show interest in investing in his business? Let’s find out what happened to this business and how it’s doing now.
| Company Name | Thrill Builders | |
| Founder/Co-Founder | Guy Kitchell | |
| Founded | Dec 2011 | |
| Product | Indoor entertainment center | |
| Asked For | $250k for 20% equity | |
| Final Deal | $300k for 30% equity | |
| Shark | Jason Blum, Kevin O’Leary and Lori Greiner | |
| Episode | S15 E5 | |
| Air Date | Oct 27th, 2023 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Madison, Wisconsin, United States | |
| Annual (Revenue) | $5 Million *estimated | |
| Worth / Valuation | $1.25 Million | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Guy Kitchell is the Founder and CEO of Thrill Builders, a company he founded in December 2011. In addition to Thrill Builders, he also owns three other companies: Klima Deodorant, Halloween FX, and Escape in Time Escape Rooms.
Business Pitch Episode Recap
Guy Kitchell asked the Sharks for $250,000 in exchange for 25% equity in his company, Thrill Builders. While explaining his business, he mentioned that his 50,000-square-foot indoor entertainment center offers a variety of thrilling activities for both adults and kids, providing exciting experiences through escape rooms, themed attractions, laser tag, mini-golf, and more.
Jason Blum revealed that Blumhouse has been running a live haunted house event called “Blumhouse of Horrors” for several years. He also mentioned that making money in this industry is very challenging and then asked Kitchell about his company’s revenue.
Kitchell explained that he had organized a haunted house event called “Wisconsin Scary Land.” He acknowledged that making money from haunted houses is very difficult, which is why he’s transitioning his business to a family entertainment center.
His haunted house event involved 68 actors, and most of the money went toward their salaries. Additionally, the event only ran for 11 nights, generating a total gross revenue of $450,000, with a net profit of under $200,000.
Mark Cuban wanted to know about the total investment in the business. Kitchell explained that their current project is located in a mall, covering 50,000 square feet, with the general contractor (GC) work costing $1.8 million.
The entire project is estimated to cost $7.2 million. So far, he has raised $1.7 million in cash and secured a $5 million loan backed by the SBA. Additionally, he expects the gross revenue for the first year to be around $5.5 million.
In 2022, Thrill Builders reported sales of $3.2 million, with a profit of $975,000. For 2023, he expects to achieve $4.2 million in sales. Over the past six years, the company has generated a total of $12.2 million in sales. Additionally, Kitchell has sold 17% of the company for $1.7 million.
Barbara Corcoran thinks it’s a risky investment, so she’s out.
Kevin O’Leary was very interested he offered $250,000 for 25% equity in Thrill Builders. Lori Greiner also offered $250,000 for 25% equity. Jason Blum joined forces with Lori and Kevin to offer $250,000 for 30% equity. This team of Sharks showed strong support for Kitchell’s business and its potential.
Mark Cuban believes that Guy Kitchell might not need the Sharks’ investment, as he is already making millions in profit each year. However, Kitchell feels that he needs the Sharks’ support to expand his company and secure additional financial backing.
Kitchell countered with an offer of $300,000 for 30% equity, and the Sharks accepted it.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Jason Blum | $100k for 10% equity (Lori & Kevin) |
| Kevin O’Leary | $100k for 10% equity (Jason & Lori) |
| Mark Cuban | No Offer |
| Barbara Corcoran | No Offer |
| Lori Greiner | $100k for 10% equity (Jason & Kevin) |
| Founder’s (Countered) | $300k for 30% equity (Jason, Lori, & Kevin) |
| Final Deals | $300k for 30% equity |
Thrill Builders Shark Tank Update
After the deal with Kitchell was finalized, Mark Cuban told Barbara, “He just gave away 30% equity of his company for nothing.”
After this episode aired, Thrill Builders saw an increase in sales and gained many new clients.
During the research, we found that the company has worked with several major clients, including Walt Disney, National Geographic, Spare Time, Universal, Knott’s Scary Farm, and many more.
Check out Shark Tank Season 15 Business Update.
You can see some businesses from Season 15 here.
