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Unveiling Adventure Hunt: An Exciting Treasure Hunt Experience by the Bingham Brothers
The Adventure Hunt, introduced by the Bingham brothers in episode 23 of season 09 of Shark Tank, involves an exciting treasure hunt experience where participants search for hidden treasures.
The Adventure Hunt treasure-hunting program is often compared with the popular television show The Amazing Race.
Teams of two individuals compete in various challenges to locate buried treasure chests and earn points through teamwork.
The adventure begins with teams receiving a list of tasks through a mobile app at 9 AM on the hunt day. These tasks range from unconventional activities like eating without hands to adventurous pursuits like rock climbing.
As teams accumulate points by completing tasks, a treasure map is unveiled on the app, guiding them to the ultimate prize – a treasure chest containing exciting rewards such as GoPro cameras, tickets to Red Frog Resort in Panama, and other surprises.
Apart from recreational hunts, Adventure Hunt caters to a wide range of events, including corporate team-building exercises, birthday parties, youth groups, scavenger hunts, and geocaching.
With 150 events scheduled for 2019, the company actively seeks corporate sponsorships, franchises, and investors, with founders Sean and Jared optimistic about attracting a Shark investor to join their quest.
Adventure Hunt, a mobile application-based treasure hunt organizer, offers thrilling scavenger hunts reminiscent of The Amazing Race.
The company’s services extend to team-building events, corporate retreats, and customized scavenger hunts, operating across the United States, Canada, New Zealand, and Australia.
Participants engage in location-based challenges, treasure hunting, and prize-winning activities in teams of two to four using the app and geocaching technology.
Entrepreneurs Jared and Sean Bingham founded Adventure Hunt after organizing community events and selling sunglasses through their company, Kameleonz (KZ).
The brothers’ passion for event planning, travel, and exploration culminated in Adventure Hunt, which has seen significant success, hosting diverse treasure hunts from large corporate events to intimate family gatherings.
Their commitment to growth and innovation has propelled Adventure Hunt to become a household name in the realm of interactive and adventurous experiences.
Adventure Hunt Shark Tank Pitch
During their Shark Tank pitch, Adventure Hunt’s co-founders, brothers Jared and Sean Bingham, delivered a captivating presentation that highlighted the potential of their company.
They sought a $150,000 investment in exchange for a 10% equity stake, leaving a lasting impression on the sharks.
The pitch kicked off with an exciting demonstration of the Adventure Hunt app, immersing the sharks in a mini hunt to showcase their business firsthand.
Following the demonstration, the Binghams delved into the financial details, sharing that Adventure Hunt had been established 18 months prior and had amassed $769,000 in sales during that time, with a significant portion of sales occurring in the current year.
They also disclosed Adventure Hunt’s pricing structure, offering tiered registration prices for their scavenger hunt events ranging from $30 to $100.
Regardless of the tier chosen, all participants received a complimentary welcome bundle, enhancing the value of each registration.
The sharks had varied reactions to the Adventure Hunt concept. Guest shark Bethenny Frankel expressed interest first, proposing $150,000 for a 25% equity share in the company. Robert Herjavec swiftly matched this offer.
However, Mark Cuban opted out due to a conflict of interest, while Daymond John and Lori Greiner showed no interest in the company’s concept.
In response to the offers, Jared and Sean proposed a 20% equity stake for the $150,000 investment.
After careful consideration, they selected Robert as their partner, appreciating his enthusiasm for their company and the potential value he could bring to their venture.
The deal with Robert Herjavec was sealed, providing a significant boost for Adventure Hunt. Under Robert’s guidance, the company expanded as envisioned, securing clients for special events and continuing its growth trajectory.
To date, Adventure Hunt remains a popular presence on social media and its official website, carving out a unique niche in corporate events, scavenger hunts, and team-building activities.
The successful Shark Tank pitch served as a pivotal moment in the company’s journey, propelling it toward further success.
Final Deal: Robert Herjavec invested $150,000 for a 20% stake in Adventure Hunt.
Adventure Hunt After Shark Tank: A Thrilling Business Success Story
After their appearance on Shark Tank, Adventure Hunt’s business trajectory took a positive turn. The company saw significant growth after its successful pitch to the sharks, particularly following their partnership with Robert Herjavec, who invested $150,000 for a 20% stake.
The Bingham brothers collaborated with Robert Herjavec to expand Adventure Hunt, aligning with the company’s mission to enhance company culture through team-building scavenger hunts.
With Robert’s backing, they established partnerships with various organizations to host special events, broadening Adventure Hunt’s offerings to include corporate events, team-building exercises, and scavenger hunts, showcasing the business’s versatility.
Despite the challenges posed by the COVID-19 pandemic in 2020, Adventure Hunt displayed resilience and adaptability by transitioning to virtual hunts seamlessly.
This shift not only maintained sales but also proved the concept’s adaptability to changing circumstances, allowing customers to partake in the thrill of the hunt while adhering to safety protocols and social distancing measures.
Following the relaxation of restrictions, the brothers resumed in-person Adventure Hunts in late 2020, sustaining the success of Adventure Hunt by maintaining a robust social media presence and boosting customer engagement.
The company’s collaboration with prominent brands like Go Pro, Go Scope, and KZ apparel added value to their hunts, with winning teams enjoying rewards such as free trips, GoPros, and other exciting treasures.
Adventure Hunt’s popularity as a preferred choice for parties, birthdays, gatherings, and corporate events across various countries like New Zealand, Australia, the United States, Canada, and England underscores the effectiveness of its innovative business model and the enduring appeal of its outdoor, team-based adventures.
The continuous growth and popularity of Adventure Hunt after their Shark Tank appearance highlight the successful utilization of the investment and mentorship from Robert Herjavec to expand the business and navigate the challenges posed by a global pandemic.
The company’s commitment to providing a unique and thrilling product to customers, enhancing company cultures, and creating memorable experiences for participants has solidified Adventure Hunt’s position as a trailblazer in the outdoor scavenger hunt industry.
Adventure Hunt is still in business with a net worth of $3 million. The valuation of Adventure Hunt was $750,000 after securing a deal from Robert Herjavec on Shark Tank.
