Adventure Hunt is the brainchild of brothers Jared and Sean Bingham, who previously used to work in event organizing. Adventure Hunt is a unique business that provides challenges and clues to different teams of people in a city. These people register on the website for a scheduled hunt in a city. They then download the app, which guides them through all the challenges and clues they have to solve. The team that finds the treasure hidden in the city gets many rewards, including a paid trip.
Adventure Hunt takes the age-old idea of a treasure hunt and employs modern technology to provide an entirely unique experience to people. These hunts offer memories of a lifetime and also help friends and family get closer to each other. The challenges range from being outlandish to thrilling, and the clues are great brain teasers. The element of competition also helps bring out team spirit and leadership qualities.
The brothers had the right idea when they established Adventure Hunt, as more and more people look for customized social activities they can enjoy with their loved ones. The company has gone from strength to strength since its Shark Tank appearance, and a recent update has shown them providing their hunts to the corporate sector as well. Adventure Hunt is an activity that has an endless scope and an ever-increasing market.
How Did The Shark Tank Pitch Go?
The brothers made sure that their pitch was as packed with activities and thrilling as one of their hunts. With the help of a couple of past participants and a video package, the entrepreneur duo confidently communicated their business’ potential. They asked for $150,000 for 10% of their company.
The Bingham brothers brought a certain charm to their pitch that attracted the Sharks. Coupled with the engaging content of their pitch, the business caught the Sharks’ attention. The brother explained what their business was all about and even demonstrated a few of their activities to showcase the fun people have at their hunts. One of the challenges included giving the other person a wedgie, a demonstration that was met with raucous laughter from the Sharks. Robert Herjavec was particularly excited at the prospect of the challenges and tried the slackline and ended up falling into a sandbox. This led to a particularly light-hearted atmosphere throughout the pitch.
The Sharks quickly steered the conversation toward the critical matter, the numbers. The brothers revealed that they were doing quite well and had an average of 300 people at a given hunt. They had made around $700,000 in sales during the first 18 months of the business. These numbers were deemed impressive by the Sharks, who acknowledged them audibly.
Lori Greiner asked the entrepreneurs what they wanted from the Sharks, and they declared they were looking for guidance with marketing. They were looking to attract more customers to their business, which could be done with promotional ideas.
Guest shark Bethany Frankel was intrigued by the promotion aspect and suggested that the business could do events like Girls Night Out, which would attract a particular demographic more and help the company. Robert Herjavec also saw the immense potential in marketing to the corporate sector as companies always look for team-building activities for their employees.
Mark Cuban, Lori Greiner, and John Daymond all pulled out of negotiations citing differences and lack of expertise. This left the brothers with Frenkel and Herjavec, who were both interested in the business. Frenkel wanted to change the approach of the business and collaborate with dating apps. She offered the brothers $150,000 for 25% of the company. Herjavec put forth an identical offer. However, his approach was drastically different from Frenkel’s. He wanted to tap into the corporate sector, an approach the brothers confirmed they were also interested in.
The brother inquired if the Sharks were willing to reduce the equity. Herjavec and Frenkel both agreed to drop their stake to 20%. The duo contemplated their decision and ended up choosing Herjavec to partner with.
Our Review of Adventure Hunt
Adventure Hunt is an experience worth having when you are not in the mood for normal social niceties. It can even be a fun idea for dates and other bonding experiences. The main products the business sells are ideas for activities and rewards; therefore, this one business where there is a lot of room for improvement and improvisation
Pros of Adventure Hunt
- They have app tutorial videos to make your experience seamless
- You have the option to team up with strangers. Therefore this can be a great way to make new friends.
- App includes recaps of previous hunts to give you an idea of what to prepare for
- Rewards are significant such as paid trips which increase the stakes of the game
- Great bonding activity
Cons of Adventure Hunt
- The challenges are age-restricted. Therefore, parents of young children might find it hard to participate.
- No options to customize challenges
Who Is It For?
Adventure Hunt is clearly targeted at the relatively young and physically robust demographic. It is well suited for able-bodied individuals aged 16-60. There might be cases that might lie outside this demographic and be able to enjoy Adventure Hunt. It also attracts people who are willingly seeking adventure and are adrenaline junkies.
Are There Any Alternatives?
Several adventure-based recreational options in the market include problem-solving and challenge to enhance social experiences. One such alternative might be panic rooms that involve locking a group of people into a room, and they can only get out of there by solving different puzzles and clues.
Adventure Hunt is a business bound to explode due to the rising demand for unique social activities. In our overstimulated world, people want new experiences, mainly to document for the world. The fact that Adventure Hunt integrates social media into their challenges is bound to attract many people to its hunts. The business can continue strengthening if they customize challenges and include a few more difficult challenges so people can opt for them.