October 15, 2024 | By Rob Merlino
Founders of Romp n’ Roll
Highlights
- Shark Tank Season 1 introduced a variety of unique business ideas, including fitness equipment, junk removal services, and more.
- Romp n’ Roll, an indoor play center for children, was pitched by founders Babz and Michael Barnett.
- Two sharks showed interest, but the founders ultimately walked away without a deal.
Season 1 of Shark Tank brought forth a wave of creative and ambitious entrepreneurs eager to make their mark. From fitness equipment and pet supplements to junk removal services and pie-making ventures, the show featured a diverse lineup of business pitches.
One such business that stood out, despite not securing a deal, was Romp n’ Roll. Founded by a Virginia-based couple, the company aimed to provide a fun and educational indoor play space for children. Here’s a closer look at its journey on Shark Tank and its progress since then.
Net Worth of Romp n’ Roll
As of recent estimates, Romp n’ Roll has achieved a strong financial standing. With over 300 franchise locations and an annual revenue of $4 million, the company’s estimated net worth is projected to be in the range of $20 million to $25 million. This valuation reflects the continued success and expansion of the brand.
Key Takeaways
- Romp n’ Roll, an indoor play and learning center for kids, was pitched on Shark Tank Season 1 by founders Babz and Michael Barnett.
- The entrepreneurs sought $300,000 for 10% equity but walked away without a deal.
- Despite not securing an investment, the company expanded rapidly, opening new locations in the U.S. and internationally.
- By 2021, Romp n’ Roll had over 300 centers across the U.S. and China, with further expansion into South Korea.
- The business continues to thrive, generating an annual revenue of $4 million and actively franchising new locations
Romp n’ Roll’s Pitch on Shark Tank Season 1
Babz and Michael Barnett introduced Romp n’ Roll as an engaging play and learning center for children aged three months to six years. Their concept blended education with fun, offering various programs, including summer camps and birthday party services.
Driven by their motto, “Nurture the genius. Unleash the goofball,” the couple sought a $300,000 investment in exchange for 10% equity, primarily to support their franchising expansion.
At the time of their Shark Tank appearance, Romp n’ Roll was already operating in 10 locations and had reported a significant 30% profit margin on an annual revenue of $4 million.
Did Romp n’ Roll Get a Deal?
While the sharks were impressed by the company’s financials, they were hesitant about its valuation.
- Kevin O’Leary opted out, citing prior investments in the children’s business sector.
- Daymond John and Kevin Harrington also passed due to concerns over valuation.
- Barbara Corcoran declined, referencing a past unsuccessful venture in the same industry.
Robert Herjavec, however, was interested and offered $300,000 for a controlling 51% stake. Kevin O’Leary later joined in on the offer.
The Barnetts countered with $300,000 for 20% equity, but the sharks refused to budge. Ultimately, the founders decided to walk away without a deal.
Romp n’ Roll’s Growth After Shark Tank
Despite not securing a deal, Romp n’ Roll experienced significant growth following the episode’s airing. Within months, the company expanded to nine additional locations in the U.S. and launched its first international franchise in 2009.
Its franchising model continued to thrive, and by 2021, Romp n’ Roll had established over 300 centers across the U.S. and China. It even expanded to South Korea, signaling strong potential in the Asian market.
Is Romp n’ Roll Still in Business?
Yes, Romp n’ Roll remains successful. Its website is active, showcasing its presence across multiple states, including Florida and Pennsylvania. The company continues to expand, with plans to open 10-15 new franchises each year. Locations such as New Jersey are listed as ‘coming soon.’
Additionally, its franchising opportunities highlight an average revenue per unit of approximately $463,000, reinforcing its strong business model. The company continues to generate an annual revenue of $4 million.
Conclusion
Romp n’ Roll serves as a testament to perseverance, strategic growth, and clear vision. Although the founders walked away from Shark Tank without a deal, they remained committed to their franchising ambitions and successfully expanded their business.
By setting achievable targets—such as opening 10-15 new locations annually—the company has cemented its position in the industry, proving that with dedication and the right strategy, success is possible even without a Shark Tank investment.
