The Shark Tank features entrepreneurs who pitch their business ideas to a panel of potential investors, or “sharks.” Some of these businesses are successful, and some are not. But what happens to the businesses that appear on Shark Tank after the show is aired? In this article, we will answer common questions about Banana Loca – the business that made an appearance on Season 13 of Shark Tank – and provide useful tips on what happened to them after the show.
Story Behind the Product
Bananas are a beloved fruit all around the world, and the team behind Banana Loca wanted to create a fun way for people to enjoy them. Developed by entrepreneurs Renee Heath and Bechara Jaoudeh, the product is essentially a device that straightens a banana and fills it with fillings like chocolate, peanut butter, and caramel. Both Renee and Bechara had experience in digital marketing and had their own share of success.
One day they discussed how they liked to eat peanut butter with bananas, and the idea for their product was born. They thought it’d be awesome to have a gadget that’d make it easier to do that. So, they set out to develop a device that’d make their lives better and the lives of others easier too.
In 2019, the team began working on turning their idea into a reality. After many months of hard work and dedication, they finally succeeded. They were familiar with 3D printing, which allowed them to make the device more affordable. After refining their product, they reached a product designer that would make them a real device.
Banana Loca is created safe for food materials and uses innovative technology. The device also had all the necessary grade certifications. Each gadget has a brush for cleaning and an injection tool. On top of all, the device is dishwasher-safe. In 2020 they decided to run a Kickstarter campaign for the product, and it was a success. This has earned them $ 13,958 in extra earnings. With the funds from that, they were able to shit their first batch of Banana Loca. The first batch included 14,220 devices. After the initial success, they decided on selling their creation on Amazon.
The product is an ideal choice for people wanting to enjoy a banana with ease. Children especially are going to like this gadget as it makes eating a banana fun and exciting.
Price wise the device is middle-of-the-road. It’s not too expensive, but it isn’t super affordable either. For example, the device sells for around $ 29 dollars and the owners often offer sales.
From there, they reached out to the producers of “Shark Tank” to show them what their product was capable of doing. The team was excited when they received an invitation from the producers and were invited to pitch their invention on the show. [1] [2] [3]
How Did the Banana Loca Shark Tank Pitch Go
The team was eager to show the Sharks what their product could do. They started their pitch by entering it with a guy dressed as a banana. The team was sure that the Sharks would appreciate their sense of humor.
The duo came to the tank with the hope of receiving $ 250,000 for 25% of their company. They explained to the Sharks their story, how they developed and manufactured the product in a cost-effective way, and that the device was certified.
Renee and Bechara then give out a sample of Banana Loca to the Sharks and explain how it works. The sharks love the product and are very excited about the idea. They were also impressed by how much work Renee and Bechara had put into the project. Mark especially likes the process of filling the banana and Robert thinks the idea was genius.
Then they start talking about sales. In the last five months, they had sold $ 134,000 worth of the product. They also show the Sharks that the product has been very successful on Amazon and that it’s ranked in the top five of its category.
The main reason they seek an investment from the shark is for the inventory and marketing. Improving either would improve their sales.
While Daymond likes the idea, he doesn’t think the product is a necessity so he walks out. Kevin on other hand is interested in the product and offers $ 250,000 for a 3% royalty. Robert offers a similar deal, $ 250,000 for a 3% royalty until he recoups the $ 350,000 of money for 10%. Lori thought it was still too early for the product and she is out.
Finally, Mark steps in and asks about the duo’s social media. The team replies that they are still working on building their community. Mark then joins forces with Kevin and offers $ 250,000 for a $ 3 royalty until they recoup $ 250,000. The duo countered with a $ 2 royalty but the Sharks don’t budge and the deal is settled for $ 250,000 for a $ 3 royalty until they recoup the money. This was a great success for them, as they were able to land a deal with two of the sharks. [2] [3]
How is Banana Loca Doing After the Show
So as we can see, the team was able to land a good deal with two of the Sharks. The positive exposure they achieved through the show was invaluable. After the show aired, their products sold out in a matter of days and they were able to get re-stocks for a while.
The exposure was so big that they managed to get inquiries from all over the world and it was even featured in some famous magazines and news articles.
Still, the Banana Loca duo had to deal with their fair share of criticism. Some people felt that the device was a waste of money and didn’t understand why someone would buy it. Not everyone understood why you would need a special device to fill a banana.
Another share of criticism they got was that the device promotes an unhealthy lifestyle. Although the product is advertised as an easy way to fill a banana with a topping, others felt that it encourages people to eat unhealthy treats by making it easier than ever before. Still it’s up to the user to decide what exactly they want to put in the banana.
Despite all of this, the product still has an impressive fan base and positive reviews around the world. The company has shown resilience in the face of adversity and it’s still doing quite well, even after all these years.
Unfortunately, we weren’t able to find the information on whether or not Reene and Bechara managed to recoup their investment from the sharks. All we know is that they have made a great decision by appearing on the show and getting some free promotion for their product.
After the show, Banana Loca started working on improving its marketing efforts and building up its online presence. They now have an Instagram account and YouTube channel where they post content related to their product. Their Instagram has only 1,000 followers however, still it’s constantly updated with new content and photos of people enjoying their product. They also have a website now where you can directly buy the product and read more about it. They are still working on expanding their reach and improving their sales, but all in all, they seem to be doing quite well since appearing on the show.
As far as the reviews go, the product has truly seen some popular demand. Most of the reviews are positive and people seem to really enjoy using the product. On Amazon, they have more than thousands of reviews and boast a 4-star rating. Overall, it’s clear that the product has been successful and even after all these years it still manages to impress its customers.
In the year of 2023, we can’t tell you much about the sales of the product and how it was able to cope in the long term. However, all the positive reviews and customer feedback suggest that Banana Loca has been successful.
All in all, the Banana Loca team made a great decision by appearing on Shark Tank and getting some free promotion for their product. Although they faced criticism from some people, they have been resilient in the face of adversity and continue to strive towards success. With an updated marketing strategy and online presence, we believe that Banana Loca will go far! [2] [3] [4] [5] [6] [7]
Banana Loca Net Worth
Unfortunately, we weren’t able to find the exact net worth of the Banana Loca team. We can assume that they have been quite successful since appearing on Shark Tank and are doing well in terms of sales.
The product seems to have a loyal base of customers who enjoy using the product and it still has good ratings on Amazon with over 1,000 reviews giving it 4 stars out of 5.
Banana Loca also has a website now where you can directly buy the product which is an indication that their online presence is growing and they are managing to reach more potential customers. They also have an Instagram account and YouTube channel where they post content related to their product as well as pictures of people enjoying it.
FAQ
Is Banana Loca successful?
We can’t provide you with detailed insight into Banana Loca’s success, but what we do know is that the company has been able to expand its business since appearing on Shark Tank. If you visit their Amazon page, you will notice right away that their products have more than a thousand reviews and are quite popular.
What we can tell you is that the company has secured a variety of partnerships since their appearance on Shark Tank. Those are some impressive achievements for a product that was thought to be niche and hopeless at first.
Did Shark Tank invest in Banana Loca?
Yes, the Banana Loca team has managed to get a deal from Mark Cuban and Kevin O’Leary on the show. The team pitched their business to the Sharks, and Cuban and O’Leary offered them $ 250,000 for a $ 3 royalty per item. However, we can’t confirm whether or not the deal was finalized.
Still, after the show, Banana Loca has gone from strength to strength. The team has used their newfound exposure to expand operations and build out a strong marketing campaign. Now you can order the product from nearly any country out there!
What Shark invested in Banana Loca?
Banana Loca was pitched in season 13 of Shark Tank. The company, founded by Renee Heath and Bechara Jaoudeh, received an investment of $ 250,000 from Kevin O’Leary also known as “Mr. Wonderful” and Mark Cuban in exchange for a $ 3 royalty until the money is recouped.
While we couldn’t find evidence that the deal was closed, we can speculate that Banana Loca has reached success without the help of the Sharks.
Who owns Banana Loca?
Renee Heath and Bechara Jaoudeh are the owners of Banana Loca. The couple pitched their product on Shark Tank, and they received a $ 250,000 $ 3 royalty from Mark Cuban and Kevin O’Leary. After their appearance on the show, Banana Loca’s sales have skyrocketed and they continue to enjoy success.
Right now you can order Banana Loca internationally on the official website. The couple have also grown their social media presence and are active on Instagram, Youtube, and Facebook.
Useful Video: Shark Tank US | Banana Loca Product Impresses The Sharks
Conclusion
Renee Heath and Bechara Jaoudeh wanted to share the unique idea of enjoying the filled banana treat. After their appearance on Shark Tank, they received a $ 250,000 investment from Mark Cuban and Kevin O’Leary. However, the deal isn’t finalized as of now.
Still, that doesn’t mean that Banana Loca wasn’t successful post-Shark Tank. After their appearance on the show, the business saw a huge surge in orders and inquiries from customers. Despite not closing the deal with Mark Cuban and Kevin O’Leary, they received a lot of publicity which has helped them grow even more.
The duo is still working hard to market its product and make it accessible to as many people as possible. They have put the major focus into selling online, by creating a website and utilizing various online platforms such as Instagram and YouTube. You can purchase Banana Loca through their website or Amazon.
We hope this article gave you a better understanding of what happened to Banana Loca after Shark Tank. Whether or not they eventually finalize their deal with Mark Cuban and Kevin O’Leary remains to be seen.
Banana Loca is a unique way to enjoy one of our favorite treats, and it’s exciting to see what else Renee Heath and Bechara Jaoudeh have in store for the future. We can only wish them the best as they continue to grow! Now go out there and grab yourself a delicious Banana Loca treat!
References:
- https://www.sharktankblog.com/banana-loca-banana-gadget/
- https://www.sharktankblog.com/business/banana-loca/
- https://humblerise.com/banana-loca-shark-tank-update/
- https://bananaloca.com/
- https://www.amazon.com/Banana-Loca-Kitchen-Gadget-While/dp/B08CPSCLSW
- https://www.instagram.com/mybananaloca/?hl=en
- https://www.facebook.com/MyBananaLoca/