Credit: E! News
Highlights
- Shark Tank started bringing young entrepreneurs on the show in its fifth season.
- To date, more than 30 kids have appeared on the show with their business ideas.
- The youngest entrepreneur in the fifth season of Shark Tank was just six years old.
From ‘live audience pitches’ to ‘all-veteran episodes,’ the creators of Shark Tank have introduced various concepts to keep the show’s freshness alive. One such concept that garnered immense love from the audience is bringing young Shark Tank entrepreneurs.
Introduced in the fifth season, pitches from teenagers or even younger kids were brought to the Sharks. This significant development in Shark Tank’s history brought creativity, allowing the younger generation to present their business acumen.
It even inspired the rest of the young viewers to make a move towards pursuing their entrepreneurial dreams.
Below is a list of the youngest Shark Tank entrepreneurs who showcased their business vision in the most confident manner on the show:
1. Boo Boo Goo by Kiowa Kavovit
Kiowa Kavovit was the youngest entrepreneur ever to have appeared on Shark Tank in its fifth season. The six-year-old kid approached the Sharks with her dad, Andrew Kavovit.
Seeking an investment of $100K in exchange for 17.5% equity, they pitched ‘Boo Boo Goo,’ a liquid bandage prepared especially for children. Kiowa came up with this waterproof, organic skin protectant with the help of her dad.
Were the Sharks interested?
Although the Sharks seemed impressed with Kiowa’s cuteness and charm, they showed that they do business from their minds and not their hearts. Lori expressed her concerns with respect to its sustainability as similar products were available in the market; so she was out.
Mark, Robert, and Barbara also opted out of the investment as they were apprehensive about its usage and early lifecycle.
Kevin was the only one who showed an interest by proposing a licensing agreement.
Was Kiowa successful in getting a deal?
Kevin proposed a deal at $100K for 25% equity in the company, which would be contingent on the patent. Andrew and Kiowa accepted the offer.
The latest update about the company is that it has rebranded itself to Eco Bandage and now sells products for all ages.
2. Glove Wrap by Gavin Batarse
Hailing from California, Gavin Batarse, an eight-year-old entrepreneur, introduced Glove Wrap to the investors. He was accompanied by his sister and dad, who sought $50K for 20% of his baseball glove wrap business.
Gavin started his pitch by highlighting his love for baseball and how difficult it gets to break in the ball when the glove is new. This is how he invented Glove Wrap, an elastic band that matched the dimensions of a baseball glove. Plus, it formed the perfect pocket for putting in the ball.
What impressed the Sharks?
The Sharks smiled and giggled throughout the pitch. They were amused to see Gavin’s raw emotions and excitement alongside his thorough understanding of the business.
This is why they inquired about the economics of Glove Wrap. The young entrepreneur responded, saying it cost them $3 to make the product. Whereas, they sold it for $19.99 in retail and $10 in wholesale.
Did Gavin land a deal?
Yes, he did. Guest Shark Michael Rubin and Mark Cuban joined hands to offer him $50K for 22%.
The other Sharks backed out because Kevin felt Gavin might have to opt out of school to pursue his business endeavor; he didn’t want that to happen. Lori felt the other Sharks would be a better pick as she didn’t have expertise in the sports arena.
Barbara, too, felt that Mark was a better choice as he had a strong foothold in the sports industry.
The latest update about the company is that the deal with Michael and Mark closed. Further, Michael often posts videos on Instagram with Gavin.
3. The Baby Toon by Cassidy Crowley
Cassidy Crowley proved that age was just a number when she went to Shark Tank pitching her product, ‘The Baby Toon.’ She came up with the prototype in her first grade and participated in a Science Fair in Honolulu.
The motivation behind preparing the soft silicon based spoon came when she searched for a spoon that would not hurt her toddler sister. She requested a $50K investment at 50% equity.
How did the Sharks react?
The Sharks were amazed by the short, precise, and entertaining pitch. They even clapped in unison to see how well aware she was of the business.
Mark applauded again on hearing that she had already made $5K in sales. They were even more impressed when Cassidy said she wasn’t there just for the fame.
Robert asked her the reason why she was giving away 50% of her company. She honestly replied that it was because she was still young and had to attend high school. The Sharks laughed again.
Mark appreciated her work and exclaimed that she was more of a Shark than the other investors. Guest Shark Daniel Lubetzky jokingly said that if permitted in the USA, he would marry one of his kids to Cassidy in the future.
Who was in for the deal?
Although impressed, the Sharks stepped out of the deal one after the other. Lori was the only one who offered $50K for 50% equity, which Cassidy accepted.
Towards the end, Mr. Wonderful invited Cassidy to sit on the Shark’s chair.
The latest update about the company is that after securing a licensing deal with Munchkin, its current value is around $1 million. Further, the product is available on Target, Walmart, and Amazon.
Conclusion
Allowing kids to pitch their business ideas as young Shark Tank entrepreneurs has made the show reach new heights. The best part is that the Sharks treat the kids no different from the adults. They analyze a company’s relevance and potential success and only then decide to invest in it.
Be it The Baby Toon or Glove Wrap, the kidpreneurs have shown that good ideas will always receive the desired results. The most crucial thing is to have self-belief and keep going without worrying about your age.
References
1. About Us, Munchkin
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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