Camp No Counselors – Adult Summer Camp
NO DEAL
EPISODE SUMMARY
🕓 Air Date: May 13, 2016
Asking For:
$300,000 for 7.5%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Camp No Counselors is an all-inclusive sleepaway camp for grown-ups, offering a nostalgic experience with classic camp activities, parties, and a weekend getaway.
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Background Story
Adam Tichauer, the founder and Head Camper of Camp No Counselors, transitioned from a finance job in New York City to create an all-inclusive sleepaway camp for adults. The idea originated from Tichauer’s need to escape from his busy city life, leading him to rent out a sleepaway camp for a weekend. The positive experience and the bonding that occurred among 90 participants inspired him to turn it into a business. Camp No Counselors aims to recreate the carefree and adventurous spirit of childhood camps for adults.
The Product
Camp No Counselors operates by renting sleepaway camps during their off-season and providing adults with a weekend filled with classic camp activities such as archery, wakeboarding, rock climbing, and zip-lining.
The camps, located a few hours outside major cities like New York, Los Angeles, Chicago, and Nashville, offer a turnkey operation with round-trip charter transportation, open bars, meals, accommodations, and various activities.
The average cost for a three-night weekend is $478. The company collaborates with the camp’s infrastructure and employs the actual counselors during the off-season, ensuring incremental income for the camp owners.
How It Went
The company’s position before Shark Tank
In the last summer, Camp No Counselors grossed $160,000 from four camps. This year, with plans for 11 camps and 1,800 participants, they projected $800,000 in revenue, with a profit of $165,000. The business is expanding into corporate retreats and plans to scale by running simultaneous camps over a given weekend. Camp No Counselors has taken a loan of $100,000 and relies on profits for funding. The average age of participants is 30, and the company has gained attention through media coverage, with Time Out New York’s article generating significant shares on social media.
The Negotiations:
Tichauer sought a $300,000 investment for a 7.5% equity stake. The Sharks were intrigued by the concept but were critical of the $4 million valuation. Mark Cuban, citing concerns about scalability and valuation, was the first to bow out. Other Sharks expressed doubts about the need for investment, given the company’s profitability and Tichauer’s ability to fund expansion with existing profits. Lori Greiner and Kevin O’Leary both opted out, citing valuation concerns and a lack of personal interest.
Robert Herjavec initially expressed interest but dropped out due to uncertainties about the business model’s long-term viability and potential liabilities. Ultimately, Mark Cuban made a conditional offer of $300,000 for a 25% equity stake, contingent on all the other Sharks joining. However, Tichauer declined the offer, leading to no deal as the remaining Sharks did not express interest in joining Mark’s offer.
