Return Home Shark Tank Update – Net Worth 2024

Micha Truman and Katey Houstonno have an innovative idea to send the deceased loved ones back to nature-friendly through their company, Return Home. This funeral management company invented their method to convert loved ones to soil. The family can then decide to just have the ashes or plant them in the company’s woodland. 

The company has great ideas and good sales. Sharks appraised it well but will Sharks invest in a company with just idea and sales? Or they will need a thorough checkup. Let’s find out if Return Home could make their home at Shark Tank.

Return Home Net Worth

Micha and Katey asked for a $2 million investment in exchange for 5% equity in the company. They valued their company at $40 million. Return Home had a massive sales revenue of around $700,000 in 2023 and lifetime sales of $1.5 million. Unfortunately, they couldn’t secure a deal on Shark Tank. The company has expanded now. As per my rough estimate, with the 10% business growth, Return Home’s current net worth is estimated at around $5.9 million.

Return Home Shark Tank Update

What Happened to Return Home After Shark Tank?

After Shark Tank, both sales and social media appearance got a boost. They now provide their services in 49 states of the U.S. and Canada. The company also presented its idea at the National Funeral Directors Association Annual Convention. 

Did Return Home get a deal on Shark Tank?

Unfortunately, no. Due to the lack of valuation, the Sharks went uninterested and stepped out one by one. Despite the great idea, Return Home returned without a deal.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Daniel Lubetzky	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Daymond John	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Founders & Their Backstory

Katey was born and raised in England till she was 18. She was a Funeral Director at 16 back in England. When she attended her grandfather’s funeral, she felt the event was his representation. So, she was inspired to do a better job. She had a lot of empathy as a Funeral Director.

Micha managed The Knot for 20 years in China after his graduation. When he returned States, he wanted to start a valuable business. So he started Return Home. 

Initial Pitch

Micha and Katey introduced themselves as CEO and Field Manager. They begin their pitch with a harsh reality of the death of Americans and the destruction of Earth. Facts regarding the side effects of burial and cremation were described as having the hardest and most negative impact on nature. So, they invented a friendly and warmer farewell to their deceased loved ones by using Terrametion.

Terramtion is a slow process of converting the human body to white soil in 60 to 90 days The deceased soil is then given to their family as their last remains. Or buried them in the company’s 800-acre woodlands. This restarts the process of nature again. 

Micha demanded $200,000 in exchange for 5% equity. Then, the pitch was concluded. 

Queries about the Product

Mark was the first to inquire about the company. Micha asked Katey to explain the process, which was explained further. The bodies are placed in a huge white cement vessel with different natural elements like straw and sawdust. Microbes from the bodies blend in with the elements to convert to soil. 

The process takes 30 to 40 days to complete. Additionally, 30 days are provided for the soil to rest. Lori inquired if they had 40 bodies for the process and how they managed it. Katey informed me that there are 74 vessels in their facility for the process. She further continued that they have a 12,000 ft warehouse with open doors for the families. 

Micha requested to give an overview of the entire system. He placed the fact that 3.4 million people every year. Around 57% or 2 million people are cremated. He stated the total cost to cremate with the funeral of your loved ones is around $8000. Whereas, their company charges $5500 for the same services. Mark inquired about the competition. Micha responded there 3 companies including them. 

Lori inquired about their backstory. After that, Kevin inquired about their valuation and why it was worth that investment. Next, Lori inquired about the sales. They made $350,000 by the second quarter of the last year. Micha stated that they are a money-losing company. Mark inquired about the money they raised and the valuation. They have raised $5 million at the $20.6 million valuation last time. 

Shark’s Responses & Final Deal

Mark encouraged Micha to negotiate better. Instead, he began to sell the company again which made Mark uninterested. He stepped out at this moment. Next, Lori went in with her confusion on why she should invest in the company as they have shown no progress. Shark grew a bit frustrated here.

Kevin ask Micha to take them through the unit cost prices. He mentioned that they charge $5,500 for service costs that cost them $1,200 and get a profit of $3,800. Kevin went in with his confusion about losing 30% of their margin. As they were unclear about their business model. Kevin stepped out.

Daniel was the next to step out as to him there was no clear definition of their valuation. Daymond appraised their way of burial, but he lacked passion for it, so he stepped out. Lori mentioned a deal with Kevin on a company titled Parting Stones. She appraised the idea, but without value, she was out. So, Micha and Katey left the platform without any deal. 

What Went Wrong with Return Home on Shark Tank

The business idea was appreciated and loved by the Sharks. But the stumbling stone was the valuation. Micha was unable to provide clear stats and figures for the valuation number. Another issue that made Shark rethink investing in the company was its improper business model. According to Kevin, the company was losing money because it lacked a money-making business model.

Product Availability

Return Home company converts the dead bodies of loved ones to soil matters. This is done using their innovative method known as Terrametion. You can check the prices and other details from their website. 

Conclusion

Micha and Katey came on Shark Tank Season 15 Episode 2 with their innovative method. They have invented a new method, a better and more natural way to say goodbye to their loved ones. They presented a good idea and had good sales. They demanded $200,000 of 5% equity.

But all Sharks stepped out due to no clear valuation figure and improper business model. They went under to pass through the inquires of Sharks regarding the profits-making strategies as well. This leads the Sharks to step out and they have to leave without a deal.