Kudo Banz Shark Tank Update – Kudo Banz Net worth

In Season 10 Episode 16, Hamza and Amanda came up with their kids to introduce a new parenting way for parents confronting the constant challenge of training and educating their kids.

This product can help them grow and win the rewards they want. Using the Kudo strategy, kids get rewarded and improve simultaneously. But will this be enough to convince the Sharks? Let’s dive in!

Kudo Banz Net worth

The company did improve after the Shark Tank Show. The current net worth is unknown but estimated to be approximately $1 million.

Did Kudo Banz get A deal on Shark Tank?

Unfortunately, no. All Sharks backed out due to various reasons. What could have gone wrong or were there any mistakes? Let’s check Kudo Banz’s journey from pitch to its discussion to the end.

Shark(s) InvolvedOffer madeDemandCounterofferAccepted?
Mark HigginsOUTN/AN/ANo
Lori GreinerOUTN/AN/ANo
Kevin O’LearyOUTN/AN/ANo
David DaymondOUTN/AN/ANo
Mark CubanOUTN/AN/ANo

Kudo Banz  Shark Tank Update

kudo banz shark tank deal

Kudo Banz uses

Kudo Banz is a customized band for growing kids and a training strategy by parents. This product applies the Kudo method. A Kudo charm is added to their band whenever kids behave or improve. This product is a waistband, so it can be used everywhere. There are various packs like Starter Kit, Potty Training Kit, Kudo Collections, and Banz Collections.

Parents can also give the third or magical charm whenever kids hit the goal. These magical charms scan to a rewards screen. This screen congrats the kids with the Kudo and opens a reward screen. On this screen is a spin wheel with rewards. They can select their favorite and enjoy it. In this way, kids improve and get motivated with their kudos.

Founder and backstory

Hamza and Amanda Naqvi from Connecticut, USA are a small family with three kids; Mikail, Ayaan, and Sofia. He resigned 2 years ago from his full-time job to entrepreneurship. At the same time, Amanda is a successful entrepreneur who started at 20 cents and is making $1 million in sales. Mikail explained it as “ 1% of the 1% of the 30% in the entire industry”.

This all begins when Amanda expresses his concerns with Hamza regarding Mikail. Hamza explained that their elder child Mikail is getting affected by negative listening. So, to be a good parent, we need to be good listeners. So they decided to use a better parent technique as this event inspired them.

Pitch and initial presentation

Hamza, Amanda Naqvi, and the kids began the pitch and introduced themselves. They placed their demand of  $150,000 with 10% equity. They introduced their product as sticker bands as the progress chart of kids. But unlike sticker charts, they can be taken everywhere. The children introduced themselves as, Mikail, Ayaan, and Sofia and took over the pitch for a better explanation.

Mikail then explained the Kudo Banz working. He stated it begins with the storytelling; in the end, kids learn their lesson: listening is fun. This way they get their kudos on their waistbands. They further explained with an example of Sofia who earned two Kudos for making her bed and eating her lunch quietly.

Kids then asked their parents to give the 3rd Kudo which on clicking picture shows the rewards screen. Apart from this, kids get rewards spin wheel. From which they can get their rewards and enjoy it. The family made their outro by asking the Sharks to join them to make the parenting journey easier. They also offered the Sharks a sample each with the Shark species that resemble their nature.

Discussion on pitch and offer

Mark inquired about the kids’ ages to which they responded individually; Mikail 11, Ayaan 9, and Sofia 6. Lori then inquired about the charms collection and whether there were different charms for different chores. Hamza then explained that they were not as the charms the kids received were the ones they liked on their progress. Parents give the third charm Lori keeps on inquiring about the customized charms. Mikail answered that there are customizable charms for various goals.

Mark Higgins inquired about their inspiration to which Hzmza shared his story. Mikail then explained the business journey as it soft-launched in mid-2017 to learn the marketplace and officially New York Toy Fair 2018 where they receive their retail customers. The net sales are $80,000.

Kevin jumped as he dont consider this a business. But he was interested in learning more, so he inquired about the distribution. Hamza replied that their product is available online via a website and on Amazon. He then inquired about the cost per item. The Starter Pack has a storybook with a partner Bye-Bye Baby. Hamza further explained it as a business but not a hobby.

Negotiation and final deal

Mark Higgins declared that he backed out as he knew this marketplace competition and failed to find its uniqueness to distinguish it from its competitors. Lori explained that she couldn’t invest in this product as she was already working on it, which might be a competitor, so she backed out. David also stepped out as he had a previous business deal from Season 2 that didn’t work out well.

Next, Kevin explained that the lack of sales of just $80,000 since 2018 shows the clear result of improper valuation. Mikail explained their assets and price tags further, which Kevin couldn’t argue further. This made other Sharks admire Mikail’s negotiation skills. Mark Cuban also agreed with Kevin’s reasons and he backed out too.

Kudo Banz Availability

Kudo Banz is a Kudo tagging on kids’ waistband. As kids grow up, they need various education like cleaning, potty training, and many others. This band helps parents give their kids a motivational boost. Every time they do a good activity, learn better, or improve they get Kudos. Parents and kids enjoy this Kudo tagging product with various categories and customizable options.

Conclusion

Hamza and Amanda developed a good parenting technique that motivates kids to improve. A great helping hand for the parents struggling to educate their kids. Kudo Banz could be a great help. In Shark Tank, they demanded for $150,000 with 10% shares. They ended up with no Sharks who were ready to seal the deal. They left the stage but are still in business and motivated to help parents.

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