Return Home Shark Tank Episode S15 E2 Update & Net Worth

Return Home Shark Tank Episode S15 E2 Update & Net Worth

Return Home, a pioneering human composting company offering a green alternative to traditional burial and cremation, was featured on Season 15, Episode 2 of Shark Tank. The company, founded by Micah Truman and Katey Houstonno, seeks to revolutionize the funeral industry by transforming human remains into soil through a process they call Terramation.

Return Home entered the tank with a bold ask—$2 million for 5% equity, valuing the company at $40 million. However, despite their passionate pitch and innovative approach, the founders left without securing a deal.

The sharks were skeptical of the high valuation, particularly given that the company was still operating at a loss despite raising $5 million in funding and generating $350,000 in sales by mid-2023.

Since the episode aired on October 6, 2023, Return Home has continued to operate, offering their eco-friendly services in several states where human composting is legal. The company’s estimated net worth stands at $1 million, reflecting both the challenges and potential of this emerging market.

What is Return Home? How Does it Work?

Return Home offers a unique and environmentally friendly alternative to traditional burial and cremation. Their service, known as Terramation, transforms human remains into nutrient-rich soil through a natural decomposition process.

This process involves placing the body in a vessel filled with organic materials such as alfalfa, straw, and sawdust. Over the course of 60 to 90 days, the body is gently transformed into soil, which can then be returned to the family for use in a memorial garden or other meaningful purposes.

The Terramation process is designed to be a sustainable and compassionate way to honor the deceased while also benefiting the environment. Traditional burial methods often involve the use of non-biodegradable materials, chemicals, and significant land space, while cremation releases harmful emissions into the atmosphere.

 In contrast, Return Home’s method is completely natural, non-toxic, and contributes positively to the ecosystem.

The company offers two main services: immediate Terramation and pre-planning services. Both options are priced at $4,950, making them a competitively priced alternative to traditional funeral options, which can often exceed $8,000.

The Terramation service is currently legal in several states, including Washington, California, Oregon, Colorado, and Vermont.

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Return Home Shark Tank Episode S15 E2: What Happened at Shark Tank Pitch?

During their Shark Tank pitch, Micah Truman and Katey Houstonno sought $2 million for 5% equity in Return Home, giving the company a hefty $40 million valuation. They explained the concept of Terramation to the sharks, emphasizing the environmental benefits and the growing demand for sustainable end-of-life options.

The founders highlighted that Return Home had already generated $350,000 in sales in 2021, with the same amount reached by May 2023. Despite this, the company was not yet profitable, which raised concerns among the sharks.

The company’s financials showed that the cost of transforming one body into soil was $1,200, while the service was priced at $3,800, leaving a substantial margin. However, the high valuation and ongoing losses were difficult for the sharks to overlook.

Mark Cuban was the first to drop out, citing concerns over the valuation and the lack of profitability. Lori Greiner expressed similar concerns, noting that the company had not yet achieved the financial milestones that would justify such a high valuation.

Kevin O’Leary was also critical of the valuation, questioning why the company wouldn’t charge more given the emotional and environmental value of the service. He argued that traditional funerals often cost much more, and by underpricing their service, Return Home might be missing out on potential revenue.

Daniel Lubetzky and Daymond John were both intrigued by the concept but ultimately couldn’t reconcile the valuation with the company’s current financial performance. Daymond John noted that while he found the business idea compelling, he wasn’t passionate enough about it to invest.

In the end, all the sharks opted out, leaving Micah and Katey without a deal. Despite this setback, the founders left the tank determined to continue their mission of offering a sustainable alternative to traditional end-of-life services.

Return Home Shark Tank Pitch Summary

What Happened to Return Home After Shark Tank?

Despite not securing a deal on Shark Tank, Return Home continues to operate and grow its business. The exposure from the show brought increased attention to the company and its innovative approach to sustainable end-of-life services. However, the challenges of scaling such a niche and regulatory-sensitive business remain significant.

Since their appearance, Return Home has maintained its operations in states where human composting is legal, and they continue to advocate for broader legalization of the practice. The company has also received media attention, including a feature in The Seattle Times, which helped to raise awareness about their services.

While the company is still facing the challenges typical of a startup in a highly regulated industry, Micah and Katey remain committed to their mission. They are focused on educating the public about the benefits of Terramation and expanding their service offerings to meet the growing demand for eco-friendly funeral options.

How Much Is Return Home Worth?

As of the latest update, Return Home is estimated to have a net worth of $1 million. This valuation is based on the company’s revenue, ongoing operations, and the potential for growth in the emerging market of human composting.

Before appearing on Shark Tank, Return Home had raised $5 million in funding and achieved $350,000 in sales by mid-2023. Despite these figures, the company’s profitability remains a challenge, largely due to the costs associated with expanding their services and navigating the complex regulatory environment.

The $40 million valuation presented during the Shark Tank pitch was met with skepticism by the sharks, but the company’s potential for long-term growth remains promising. As awareness of sustainable funeral practices increases and more states legalize human composting, Return Home could see its value rise significantly.

Is Return Home Still in Business?

Yes, Return Home is still in business and actively providing human composting services. The company operates out of its headquarters in Auburn, Washington, and continues to serve clients in states where Terramation is legal.

The company’s founders, Micah Truman and Katey Houstonno, are dedicated to expanding their services and advocating for broader acceptance of human composting as a viable and sustainable end-of-life option. Return Home offers both immediate and pre-planning services, providing families with an environmentally friendly alternative to traditional burial and cremation.

While the company did not secure a deal on Shark Tank, the exposure from the show has helped to raise awareness about Return Home’s mission and services. The company continues to build its reputation as a leader in the eco-friendly funeral industry.

Which Episode & Season Number Was Return Home on Shark Tank?

Return Home was featured in Season 15, Episode 2 of Shark Tank. The episode aired on October 6, 2023, and showcased the company’s innovative approach to transforming human remains into soil through the process of Terramation.

The appearance on Shark Tank provided Return Home with valuable exposure, helping to increase public awareness of their eco-friendly services. Although the company did not secure an investment from the sharks, the episode has played a crucial role in promoting Return Home’s mission to offer sustainable end-of-life options.

FAQs

Who are the founders of Return Home?
The founders of Return Home are Micah Truman and Katey Houstonno. Micah serves as the CEO, while Katey brings her experience as a funeral director to the business.

What does Return Home do?
Return Home offers a human composting service known as Terramation, which transforms human remains into soil as an eco-friendly alternative to burial and cremation.