American Ghost Walks Shark Tank Update – Net Worth & Deal

To start this Halloween weekend, a creepy local business will be diving into the deep end with the sharks.

Brother and sister Mike Huberty and Allison Jornlin pitched their tour company on Shark Tank Season 15. American Ghost Walks offers captivating historical tours, delving into places with spooky and mysterious histories.

They asked for $250,000 for 15% equity. Did they get the deal or not? Let’s find out.

American Ghost Walks Net Worth

Mike and Allison asked for a $250k investment in exchange for 15% equity in the company. Unfortunately, they were not profitable enough to get a deal on Shark Tank. Although, they valued their company at $1.6 million, but that’s not true. Keeping their figures and projected 10% growth rate (typical growth rate), and we assume their profitability in the coming months, their estimated net worth will likely be at $1.5 million.

What Happened To American Ghost Walks After Shark Tank?

Despite not securing a deal on Shark Tank, American Ghost Walks seems to be thriving. Like many companies featured on the show, they are likely to experience a boost in sales following the episode’s airing.

Their website offers a free ghost story and discounts on merchandise for those who join their mailing list. They operate in multiple states, including California, Hawaii, Illinois, Louisiana, Maine, Minnesota, Wisconsin, and Puerto Rico.

With a decent following on social media, it’s clear that people are enjoying what they offer. It’s expected that the company will continue to grow post-Shark Tank, and we’ll keep you updated in our next American Ghost Walks update.

Did American Ghost Walks Get A Deal On Shark Tank?

No, they didn’t. Sharks were concerned about the company spreading too thin and not focusing on one area to make it profitable before expanding further.

Shark(s) InvolvedOffer madeDemandCounterofferAccepted?
Barbara CorcoranOutN/AN/AN/A
Lori GreinerOutN/AN/AN/A
Mark CubanOutN/AN/AN/A
Kevin O’LearyOutN/AN/AN/A
Jason BlumOutN/AN/AN/A

American Ghost Walks Shark Tank Update

american ghost walks net worth

Allison Jornlin and Mike Huberty introduced American Ghost Walks on Shark Tank Season 15 with a gripping ghost tale to create the mood. They offered insight into their haunted history tours, explaining how they operate in 7 states and Puerto Rico with a team of 32 employees. Will they walk into a spooky deal? Find out in our American Ghost Walks update.

Founder BackStory

Allison Jornlin started the first ghost tour in Milwaukee in 2008, and her brother Mike did the same in Madison in 2010. When Mike lived in Minneapolis in 2015, he noticed there wasn’t a ghost tour there, so he started one called the Minneapolis Ghost Walk. They expanded to St. Paul, Red Wing, and Stillwater in Minnesota and also added tours in Lake Geneva, Waukesha, and Wisconsin Dells.

Wanting to explore warmer places, they began a ghost tour in San Juan, Puerto Rico, in 2020, and later started one in Lahaina on Maui. Unfortunately, the Maui tour closed due to wildfires in August 2023, but they’re working on starting another Maui tour and currently offer tours in Hilo on the Big Island.

Growing up in Milwaukee, they were fans of Richard Crowe, a famous ghost hunter in Chicago. So, they were excited to buy Chicago Hauntings from Ursula Bielski in 2021, along with Diane Ladley’s Haunted Hometowns, which covers Chicago suburbs. They also added Bayfield, Wisconsin, after buying Virginia Hirsch’s haunted history tour.

They expanded to Maine with Red Cloak Tours in 2022, and to New Orleans and Los Angeles in 2023. The Los Angeles tour was developed by Scott Markus from What’s Your Ghost Story.

Initial Pitch

Allison Jornlin and Mike Huberty shared a spooky ‘ghost story’ to set the mood when they presented American Ghost Walks on Shark Tank. Giving the sharks a taste of their guided, haunted history tours, they explained that their company operates in 7 states and Puerto Rico, with a team of 32 employees.

Mike and Allison take charge of writing scripts, researching, and finding stories. They find it easier in big cities due to the abundance of historical buildings. However, they find uncovering stories in small cities, especially exciting because they can find tales no one else has heard.

When asked about sales and business duration by guest shark and horror movie expert Jason Blum, Allison mentioned she started the venture in Milwaukee in 2008, and Mike joined in 2010 in Madison, Wisconsin. Since then, they expanded to places like Minneapolis and St. Paul.

Queries about the Product

what happened to american ghost walks after shark tank

Mike shared the financial performance of their business over the years, admitting that not all locations were equally successful. In 2020, they grossed $92,000 in Minnesota and Wisconsin.

Adding Illinois in 2021 increased gross revenue to $392,000, but after a $300,000 investment, their net profit remained at $92,000. Although their sales reached $546,000 in 2022, they experienced a negative net profit due to reinvestments, losing $42,000.

Currently, they expect sales of $650,000 for the current year but anticipate a $600,000 loss. Allison then mentioned their plan to enter the haunted cruise market. Jason intervened, advising them to focus on one small area and make it profitable before expanding further, but he decided not to invest.

Shark Responses and Final Deal

Despite finding the company fun, Lori Greiner agrees with Jason’s advice and decides not to invest. Barbara Corcoran warns that entrepreneurs are repeating a common mistake of not focusing on one thing before moving on, but she also decides not to invest.

Mark Cuban echoes the previous sharks’ sentiments and feels the presentation lacked coherence, leading him to decline. This leaves Kevin O’Leary as the only remaining shark to consider an offer.

However, he doesn’t believe he would recoup his investment or make a profit, so he also opts out. With no offers on the table, Mike and Allison leave Shark Tank Season 15 without securing a deal for their company.

What Went Wrong with American Ghost Walks at Shark Tank?

American Ghost Walks failed to secure a deal on Shark Tank primarily due to concerns raised by the Sharks regarding the company’s strategy of expanding too quickly across multiple locations without focusing on making each one profitable first.

The Sharks advised them to concentrate on one area and achieve profitability before expanding further. Also, some Sharks felt that the company’s presentation lacked coherence, which may have contributed to their decision not to invest.

Product Availability

American Ghost Walks provides walking tours filled with rich details and supported by thorough research, guaranteeing that the stories shared are completely true. Expert guides, knowledgeable in local history and folklore, lead participants, offering an enlightening and entertaining experience. Each tour is crafted to be engaging, aiming to leave participants excited by the end.

You can check more details from the website. They offer a diverse range of tours across multiple states and themes, providing a unique perspective on American culture and history, one ghost story at a time.

Conclusion

Despite the intrigue of their ghostly tours, American Ghost Walks left Shark Tank empty-handed due to concerns about their business strategy. However, with their established presence and potential for growth, they remain poised to capitalize on their hauntingly successful venture.

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