"We hire people who have passion”— When Shark Tank entrepreneur Mike revealed the requirements to join his company

Episode 5 of Shark Tank season 15 featured sibling entrepreneurs Allison Jornlin and Mike Huberty, who pitched their business, American Ghost Walks. Their company offers ghost tours in multiple cities, blending paranormal storytelling with historical facts.

The duo sought $250,000 for a 15% equity stake in their business. During the Shark Tank episode that aired on October 27, 2023, when guest Shark Jason Blum inquired about the hiring process for tour guides, Mike explained that they select individuals who are already passionate about true crime and ghost stories before joining the company.

"We hire people who have a passion for this already. It's people who already had an interest in true crime and ghost stories and they were doing this already for fun and taking their friends around," Mike said.

Despite their efforts, the Sharks remained hesitant. Jason Blum, Lori Greiner, Barbara Corcoran, Mark Cuban, and Kevin O’Leary chose not to invest, expressing concerns about scalability and financial structure.

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American Ghost Walks' Shark Tank pitch: Details explored

In Shark Tank, Allison Jornlin and Mike Huberty presented American Ghost Walks and shared their goal of blending history with ghost stories. Mike managed operations, while Allison, a paranormal investigator with over 20 years of experience, developed the tours.

Their services provide guided tours featuring well-researched scripts and knowledgeable guides across eight states and 25 cities.

Mike and Allison made a striking entrance into the Shark Tank. Mike began by narrating the tale of Cornelius Vanderbilt, who supposedly consulted a psychic medium for stock market predictions. He ended by posing a question to the Sharks—

“So, Sharks, Cornelius Vanderbilt knew that ghosts could make you rich. So who's ready to consult the spirits?”

Guest Shark Jason Blum asked about the number of employees, to which Mike replied, “We have about 32 employees.” Kevin O’Leary, initially skeptical, acknowledged their legitimacy by saying,

“Wow. I thought you guys were a joke. You have a real business here.”

Blum then inquired whether the tour guides portray characters or stay neutral. Mike explained that the tour guides are people who are "engaged and love the paranormal.” Blum, drawing from his experience in the horror film industry, underscored the importance of authenticity, stating,

“Almost every horror movie that we make, there has to be one authority. The audience at least has to believe that this person is an authority and really believes in the paranormal.”

Mike explained that they prioritize hiring individuals who have a genuine interest in the paranormal and ghost stories. He added that they provide scripts, conduct research, and select locations to create an engaging experience for participants.

The business model included live, guided tours of haunted locations, along with corporate events featuring food, drinks, and transportation. Mike and Allison also participated in paranormal events nationwide. Their goal was to expand the business with the help of the Sharks.

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Financial history and business model

Mike and Allison presented their company’s financials on Shark Tank. In 2020, they grossed $92,000. By 2021, their revenue increased to $392,000, but they had $300,000 in expenses.

In 2022, they grossed $596,000 but incurred a loss of $42,000 due to reinvestments, including $115,000 spent on acquiring existing tours. For 2023, they projected $650,000 in revenue with $600,000 in expenses.

Despite these numbers, the Sharks had concerns. Jason Blum, known for producing successful horror films, felt they were overextended and said, “I think you’re spread too thin” before choosing not to invest. Lori Greiner found the concept interesting but ultimately decided against it.

Barbara Corcoran stated, “The more I listen, the more confused I get.” She believed they were pursuing too many opportunities at once and also chose not to invest. Mark Cuban criticized their growth strategy, mentioning that they weren’t specific enough about their expansion plans. He, too, declined to invest.

Kevin O’Leary was the last to speak. He felt their valuation was too high, asserting, “You asked for too much money.” He humorously added that he would prefer to spend the $250,000 on another watch. With that, all Sharks passed on the investment.

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Shark Tank airs every Friday at 8 pm EST on ABC.