Thrill Builders Shark Tank Update – Thrill Builders Net Worth 2024

Who doesn’t like horror and thrill?

Entrepreneur Guy Kitchell went on Shark Tank Season 15 to pitch his exciting entertainment company called Thrill Builders. They create fun experiences like escape rooms, spooky haunted attractions, laser tag arenas, and mini golf courses.

They also help businesses design themed spaces and sell props for escape rooms. Guy’s big dream is to grow Thrill Builders into a huge theme park. He asked for $250,000 for 20% equity.

Did the entrepreneur get a deal on Shark Tank? Check out our Thrill Builders update to find out!

Thrill Builders Net Worth

Kevin, Lori, and Jason invested $300k in exchange for 30% equity in the company. So, at the time of the show, the net worth was estimated at around $1 million. For a quick Thrill Builders update, but wait, as the show aired, the Thrill Builders experienced huge exposure. They got a massive boost in website traffic and orders. So, as per my rough estimate, Thrill Builders’ net worth is estimated at around $8 million. Their net worth might have increased if they maintained their progress and expanded their market. As per numbers and rough data,

Thrill Builders Shark Tank Update

Guy Kitchell went on Shark Tank Season 15 and struck a deal with Lori Greiner, Kevin O’Leary, and guest shark Jason Blum. They offered him $300,000 in exchange for 30% ownership of Thrill Builders. As for an update, the company is still up and running.

Being on Shark Tank gave them a good amount of free publicity. While there’s no news yet on the progress of their planned 50,000-square-foot facility, having three sharks on board should give Guy the support he needs to make it happen!

After appearing on Shark Tank, Thrill Builders experienced a significant boost in business. The exposure from the show helped increase their customer base and revenue. They also expanded their offerings to include team-building events, corporate outings, and even children’s birthday parties.

Yes, Thrill Builders did secure a deal on Shark Tank! Guy Kitchell, the founder, negotiated with the sharks for $300,000 in exchange for a 30% stake in the company. This valuation, however, was considered lower than what the business was actually worth. Despite this, Kitchell was more focused on ensuring future success for his company. Keep reading our Thrill Builders update to see what happens next!

Shark(s) Involved	Offer made	Demand	Counteroffer	Accepted?
Kevin O’Leary, Lori Greiner, and Jason Blum	$300,000	30% equity	N/A	Yes
Barbara Corcoran	N/A	N/A	N/A	N/A
Mark Cuban	N/A	N/A	N/A	N/A

Thrill Builders Shark Tank Pitch

From crafting escape rooms to designing haunted attractions, incorporating special effects, animated props, and more, Guy asserted that Thrill Builders is unmatched in the business. He revealed his passion for Halloween and his desire to extend its magic beyond just one day a year.

To fulfill this vision, Guy shared plans for Thrill Factory, a massive 50,000-square-foot indoor entertainment center catering to both adults and kids. The facility will feature 12 exciting activities, including Wizard’s Adventure, where children can wield magic wands to solve puzzles and embark on adventures in an enchanted forest.

In addition to Wizard’s Adventure, Thrill Factory will offer a range of interactive experiences, including bowling games where you can immerse yourself in the action, haunted houses where you can take on animatronic monsters, and plenty more thrilling attractions to keep visitors entertained.

Guy Kitchell, the founder of Thrill Builders, made quite an entrance on Shark Tank Season 15, stepping into an extra spooky set and introducing himself as a “serial thriller” from Madison, Wisconsin. He boasted about his company’s track record, claiming they’ve crafted top-notch attractions for some of the biggest names in the industry.

Thrill Builders creates different types of escape rooms with fun themes like alien adventures, enchanted mines, or spooky haunted mansions. They offer both big and small versions, and they even have kits for people who want to make their own escape rooms.

They also sell all sorts of props you might need for an escape room, from basic to fancy ones. You can get things like fake candles, secret code readers, or even fake dynamite. To make the experience even cooler, they provide custom soundtracks and special lighting. But Thrill Builders isn’t just about escape rooms. They have lots of other fun stuff too!

Jason Blum, the guest shark and CEO of Blumhouse Productions, known for horror franchises, chimed in with his experience running a live event haunted house. He mentioned that despite their popularity, haunted houses are tough to profit from.

Guy Kitchell agreed, sharing his own experience with Wisconsin Scary Land, his haunted house venture. He explained that despite its success, the costs were high, especially paying the 68 actors over the 11-night run.

This led Guy to shift his focus towards the facility model, which he believes is more financially viable. By moving into larger facilities like Thrill Factory, he aims to create sustainable revenue streams.

Guy Kitchell revealed that the buildout for Thrill Factory, situated in a mall, requires around $7.2 million. He’s managed to raise $1.7 million in cash and secured a $5 million loan to cover the remaining costs.

He anticipates generating $5.5 million in revenue within the first year, followed by $10 million the next year. To achieve this, he plans to offer birthday parties alongside various games and attractions. While there won’t be an entry fee, customers will pay for each game, attraction, or service separately.

Guy’s existing business, Thrill Builders, is on track to make $4.2 million in sales this year, up from $3.2 million the previous year, totaling $12.2 million in sales over six years.

In terms of profitability, Guy earned $975,000 from sales the previous year. However, he had to give up 17% of his company to secure the $1.7 million investment. Barbara Corcoran noted her lack of expertise in the industry and decided not to invest.

Lori Greiner expressed interest in investing in the entire Thrill Builders business, not just the facility. She offered $250,000 for a 25% stake.

Both Kevin O’Leary and Jason Blum were also keen on the opportunity. Eventually, Jason proposed teaming up with Lori and Kevin. Together, they agreed on an offer of $250,000 for a 30% ownership stake in Thrill Builders.

Mark Cuban and Barbara expressed skepticism about Guy’s numbers and his reasons for seeking a shark’s help. Despite their concerns, Lori reiterated her offer to invest alongside Kevin and Jason for $250,000 in exchange for 30% ownership of the entire business.

Kitchell knows he’s not asking for as much money as his business is worth, but he’s focused on making a deal that will help his company grow in the long run. He asks the three sharks for more money: $300,000 for a 30% stake. The sharks agree to this, valuing Kitchell’s company at $1 million, which is about the same amount he made in profit just the previous year.

Cuban points out that Kitchell could have kept more ownership of his company, but he’s still happy with the deal he made.

Product Availability

From our Thrill Builders update research, Considering the high prices of the escape rooms, not many fans of the show might be willing to spend $10,000 to $70,000. To explore other options, you can reach out to Guy’s staff to learn more about what they offer and their rates.

You find out that Thrill Builders has 15 ready-made themes available, but they can also customize a theme just for you. They’ve already created puzzles for about 8,000 clients all around the world.

Conclusion

Thrill Builders struck a deal on Shark Tank, securing vital investment for its future growth. While the valuation may have been questioned, Guy Kitchell’s focus on securing support for his company’s expansion proved to be a strategic move.