Fun Time Express - Shark Tank Update

Real estate entrepreneurs Stan Krozel and Kevin Ullery appeared on Shark Tank Season 5 seeking $125,000 for 20% equity in Fun Time Express, their trackless electric train business that operated in shopping malls across seven states. The concept emerged from Stan's career pivot after the 2008 real estate market crash, when he and his partner Kevin decided to risk everything on a new venture that would bring joy to families while generating steady revenue in high-traffic retail locations.

Fun Time Express featured high-end replicas of American 4-4-0 steam locomotives complete with whistles and faux steam, designed specifically so adults could fit comfortably alongside children during 7-10 minute rides around mall first floors without requiring traditional tracks. Each train cost approximately $37,500 to manufacture in the USA, with rides priced at $3 per person, and weekend operations at a single mall location could generate up to $800 in daily revenue, representing impressive profit margins for a relatively simple entertainment concept.

At the time of their pitch, the entrepreneurs were operating five trains with plans for six and seven, having grown from $106,000 in gross revenue with $47,000 net profit in their first year (2011) to doubled numbers in year two, projecting $150,000 in net profit for their third year while maintaining approximately 25% return on investment that caught the attention of several sharks interested in scalable franchise opportunities.

Despite initial skepticism from Mark Cuban and Robert Herjavec about scalability challenges, and Daymond John's concerns that simple train rides couldn't compete with screen-obsessed mall kids, Lori Greiner recognized the business potential and convinced Kevin O'Leary to partner with her on a deal matching the entrepreneurs' exact request of $125,000 for 20% equity. The partnership proved successful in generating immediate publicity, with their company website receiving 10,000 visits within just one week of the 2014 Shark Tank episode airing, validating the marketing power of television exposure for small businesses seeking rapid growth.

However, the formal deal closure process proved complicated, with Stan mentioning to the Chicago Tribune that a full year after their television appearance, the investment deal still hadn't been finalized, highlighting the often lengthy due diligence and legal processes that follow Shark Tank handshake agreements. The business continued operating and expanding from their original five locations to eight total locations over the following years, successfully implementing their vision of bringing trackless trains to shopping malls across America and building a sustainable franchise model.

Unfortunately, changing retail landscape dynamics and declining mall foot traffic ultimately proved challenging for the entertainment concept, leading Stan and Kevin to make the decision to sell Fun Time Express in 2018 and return to their original real estate careers, concluding a successful but ultimately unsustainable venture that had provided families with memorable experiences during the golden age of American shopping mall culture.