The Shark Tank contest is where unique businesses get inspired and deals to go forward. Among these unique businesses, we can sometimes see crazy business concepts.
Here’s a story about another crazy Shark Tank business idea. Let’s talk about an innovative and crazy kitchen gadget. This is about Banana Loca Shark Tank’s representation and its business updates.
Banana Loca, a nifty gadget, lets you stuff things like peanut butter and jams into a banana without smashing it. After featuring on Shark Tank Season 13 Episode 9, founder Renee Bechara sought $250,000 for a 25% stake in the company. The business is based in Pennsylvania.
What is Banana Loca?
While still in their peels, Banana Loca is a kitchen gadget that makes it easy to core and fill bananas with your favorite fillings such as Nutella, peanut butter, jelly, etc. Isn’t that enticing?
With the tool, you can straighten a banana so that you may fill it with any filling you choose, making it the ultimate snack or a treat.
Who is the founder of Banana Loca?
Renee Heath and Bechara Jaoudeh innovated Banana Loca. The website tells how the brand came to be “Bechara and Renee, longtime best friends, have been attending innovative trade exhibits and sharing their favorite gadgets for years.
What happened at the Shark Tank?
Renee and Bechara walk in with a man wearing a banana costume. They want to sell a quarter of their “peeling” business for $250,000. Bechara talks about how he likes bananas and Nutella, but it’s a messy process.
They show how the product works. The Sharks like it. Then they try to put their samples in bananas. Mark says it’s “oddly satisfying” to do this. The Sharks like how it tastes, and Robert appreciates that kitchen gadget and says it’s a “genius” idea.
Renee says it can also be used on cucumbers, zucchini, and hot dogs, among other things. They sold $134,000 worth of stuff in 5 months without any paid advertising. It cost $6 to land and $26.99 to sell. They put their own money, $224,000, into the business.
Renee and Bechara want the money to buy stock and pay for marketing to boost sales. Mark doesn’t think they need to pay for marketing.
Kevin offers to pay $250,000 for a royalty of $3 per unit for the rest of the time. Daymond thinks it will only be used once or twice and then be put away. Lori believes it’s too early and is leaving. Robert offers $250,000 plus a $3 royalty until he gets back $350,000 for 10 percent. Mark is interested in how they use social media.
Bechara says they need more fans and are looking for “star power.” Kevin and Mark talk about it, and they decide to offer $250,000 for 25% plus $3 a month until they get their money back. Bechara responds with a $2 fee. Mark says “no,” so Bechara and Renee take the deal.
Banana Loca Shark Tank updates
There was no proof that the deal with Mark and Kevin was done, but the company said in a press release that they were “thrilled” with their new partners. They also said, “Keep your eyes “peeled” for our big event on April 20, 2022, National Banana Day. This episode will be shown again for the first time in May 2022, about five months after it first aired. Still, there is no sign that the Shark deal is done.
|Product||Banana coring and filling tool|
|Episode||Season 13 Episode 09|
|Founders||Renee Heath and Bechara Jaouden|
|Asked for||$250,000 for 25% equity|
|Final Deal||$250,000 for 25% equity and a $3/unit royalty until investment is paid back|
|Sharks||Mark Cuban and Kevin O’Leary|
|Location||King Of Prussia, Pennsylvania, USA|
What happened to Banana Loca after the Shark Tank?
In April 2020, Banana Loca started a Kickstarter campaign with a goal of $8,000. The goal was reached quickly, and a cool $13,958 was raised on the platform. The company sent the gadget to all of their backers, and now they are selling it to regular customers through their website and Amazon. That’s the point of Banana Loca Amazon availability.
Banana Loca net worth 2023
Banana Loca’s net worth had raised to 1 million dollars. In the company’s beginning, he relied solely on the internet and social media influencers to bring in sales, but now he’s going forward. Slowly but steadily, its sales are increasing, and the company’s growth is following suit.
|Net worth||$1 million (2023)|
|Annual Sales Revenue||$500K|
|Lifetime sales||$10 million (By October 2023)|
|Investors||Mark Cuban and Kevin O’Leary|
|Founders||Renee Heath and Bechara Jaouden|
Competitors of Banana Loca
There is no specific competitive product identified yet as a competitor of Banana Loca.
Banana Loca is a kitchen gadget that makes it easy to core and fill bananas with your favorite fillings such as Nutella, peanut butter, jelly, etc.
Renee Heath and Bechara Jaoudeh are the founders of Banana Loca.
You can inject the stuffing into a banana while it is still in its skin means there is no mess, and you can take the enhanced banana around with you at all times. Food-grade materials and a cleaning brush make this Banana Loca kitchen gadget easy to maintain.
You can remove the center of the banana by using the tool provided without removing the pills. And then fill stuff into the tool and core by pushing it through the banana.
There was no proof that the deal with Mark and Kevin was done.
Banana Loca’s net worth is around 1 million dollars.