The business owners, Tom Wilson, and Mark Thompson, originating in Chicago, IL, have entered the Shark Tank. He has reached a distinct startup concept. In place of entering on foot, they create a spectacular debut on a miniature locomotive called the Fun-filled Express. The locomotive has blinking lights, a low-pitched horn, and a guard’s van. The objective is to obtain an investment of $125,000 as payment for a 20% ownership in their venture.
Childhood Memories and Inspiration:
Stan and Kevin begin by sharing a story from their childhood. They reminisce about being dragged around the mall by their parents, feeling bored and rejected. They remember wanting an exciting activity to do instead. They discovered that small amusement parks within malls offered a temporary escape on the merry-go-round. However, they felt these attractions could have been more varied and varied. This led Stan and Kevin to create the Funtime Express, a trackless train ride traveling throughout the mall, providing entertainment for all ages.
The Funtime Express presently possesses five operational locomotives; another one has been ordered recently. The locomotive they traveled on in the Shark Tank event will turn into the train that comes after six. The rail vehicles have multiple uses and are usable at different places. For example, zoos, theme parks, stadiums, and corporate events.
During the typical workweek (Monday through Thursday), the Funtime Express Train operates similarly to an ordinary retail outlet. It generates a portion of the money that they reinject into their company. However, things get exhilarating on Fridays and Saturdays. People can earn up to a thousand dollars in a mere day! In case you desire to catch the locomotive, the price is just a sum of three dollars. Settling the bill using physical currency or using your credit card is possible.
Costs and Investments:
The most considerable expenditure for the business is the production of each train model, which costs around $37,500. It takes approximately 6 to 8 months to pay off the cost of a train. Considering their durability, these trains can generate profits for 3 to 4 years before requiring additional investment. Deals with malls are negotiated individually, allowing for flexibility in pricing and terms.
Sales and Growth:
During their initial year in business in 2011, Funtime Express company achieved ticket sales of 31,000, causing overall revenue totaling approximately $106,000. The total earnings for the financial year reached $27,000 overall. The statistics increased twofold in the next year. Total income amounted to approximately two hundred sixteen thousand dollars, and post-tax profits were almost 80k. Using all 7 trains operational, they project to earn approximately $1 million within the coming year. The company is predicting sales with 300,000 tickets.
Ticket Pricing Strategy:
Stan clarifies that the cost of admission of three dollars is the ideal position for transactions. In the festive period, they have promotional offers such as a deal of 2 tickets for $5. Moreover, there is an offer with 3 entries for $10 only. This flexible pricing approach helps increase the number of customers and earnings. The capability to modify prices depending on demand is a significant strength for the organization.
Mark needs to be more convinced about the business’s scalability and opts out. While intrigued, Daymond feels the model needs to be more significant for his investment preferences and withdraws. Kevin also recognizes the limitations of scalability and small profits, making him hesitant to invest. Robert advises the entrepreneurs to continue growing the business independently rather than seeking external investment. Eventually, Kevin and Lori offer $125,000 for a 20% stake, with the condition of receiving 100% of the gross profits until the asset is repaid quickly. Stan and Kevin gladly accept this offer, partnering with Kevin and Lori for the Funtime Express.
In the End:
Stan and Kevin successfully pitched their innovative business idea, the Funtime Express, to the Sharks in the Shark Tank. Their trackless train ride offers a unique mall experience, generating revenue through ticket sales. While some Sharks saw limitations in scalability and profits, Kevin and Lori recognized the potential and made an investment deal that met the entrepreneurs’ needs.
Funtime Express Now in 2023 – The After Shark Tank Update
Jump on and enter the Enjoyable Railway! This is not only a train any longer; it is a whole enterprise known as Fun Time Productions, Limited Liability Company. They lease train rides without tracks and boast a pair of incredible trains to pick from. Their primary focus is on the adjacent Appalachian zone, which incorporates Kentucky, Indiana, OH, West Virginia, and TN. If you’re intrigued, who is up for being a part of a thrilling experience on Fun Time Express?
Currently, it features a new transportation system called the Coastal Express known as Bella Tori. The locomotive features a retro appearance influenced by railway carriages from the past two centuries. However, don’t be deceived due to its vintage appearance—it’s an electric railway loaded with fantastic attributes. This has a chime, melodies, smoke visuals, and a loudspeaker system.
Currently, rather than acquiring the trains, you can reserve them for a designated period. The most petite rental length is a pair of hrs. The Exciting Adventure Fast Train and the Lovely Tori demand $250 hourly. Nevertheless, an extra fee applies at a rate of $1.75 for each mile for the necessary fuel for the train transportation starting from Brandenburg, Kentucky, to your requested place. Remember this while considering arranging your Enjoyable Moments Inc. railway journey!
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