Did Boo Boo Goo Become Successful?
Boo Boo Goo is a paint-on liquid bandage. Andrew Kavovit started this. According to the Shark Tank deal of $100,000 for 17% equity, Boo Boo Goo’s net worth was $588,000 in 2014. They came up on Shark Tank season 5 in 2014 and were able to secure a deal from one of the sharks named Kevin O’Leary. He invested $100,000 in exchange for a 25% stake in the business.
Boo Boo Goo is a unique product that has replaced the ordinary bandages of children. After the Boo Boo Goo Shark Tank pitch, it became more popular. Nevertheless, in 2016, Boo Boo Goo ceased all its business operations. So, as of October 2023, Boo Boo Goo’s paint-on bandage is not active in business any more.
Boo Boo Goo is the invention of a young but very proficient entrepreneur. Kiowa Kavovit, with the help of her father Andrew, was able to introduce this unique skin protectant that pants a band-aid onto the skin where the cut has occurred.
Boo Boo Goo is available in various colours so that children can enjoy it as a fun activity. Boo Boo Goo is also available in a skin tone colour so that you can easily cover up that minor cut or wound.
Boo Boo Goo is not only a good-looking product. It is also friendly to the environment which has been able to stand out from the regular band-aids available in nearly every home. The regular band-aids are not biodegradable and end up in landfill. On the other hand, Boo Boo Goo is a reasonable product with a five-ounce bottle offering coverage of seventy-five band-aids. It is an outstanding feat in itself.
Kiowa required some assistance to make the product perfect. That is why her father Andrew assisted her in contacting a team of experts eager to assist. The father and daughter dip talked with three doctors who all specialize in wound care. As soon as the combination of elements for Boo Boo Goo was perfected the product was all set to go to the market.
Nevertheless, Kiowa and her father knew very well that they would require some additional help, skill, and financial investment to get the product out there. They got a remarkable opportunity where because of the high demand, Shark Tank chose to have a young entrepreneurs special.
Kiowa and her father made up their minds to take feature Boo Boo brands on Shark Tank to find whether any of the shares were eager to invest in the businesses and give the expertise they were searching for.
Kiowa and her father Andrew came up on Shark Tank to feature their product. Kiowa introduced the product and Andrew started to explain that they were intending to get an investment of $100,000 for a 17.5% equity stake in Boo Boo Goo.
He also told the sharks that they required the sharks’ expertise and relationships with potential buyers and stockists of their product. After that, they displayed a video to make the sharks understand how Boo Boo Goo worked. Kiowa was one of the youngest entrepreneurs to enter the Shark Tank ever.
Andrew told the sharks that the product had been created in conjunction with the guidance of the skin and wound specialists he and Kiowa had talked with. Kiowa then started to explain that she and her friends love the product as it is available in multiple fun colours and skin tones.
Kiowa then asked the sharks who would like to appear on board and clean up one boo-boo at a time before she gave some specimens to the sharks.
Barbara inquired how they came up with the idea. Kiowa replied that she never liked Band-Aid and did not want people to see that she had a cut or small wound. From there she came up with the idea of this product.
Kevin asked who was the favourite shark of Kiowa. After thinking for a while she gave a diplomatic answer by saying that she liked all of them.
Lori then asked about the product being a proteome and Andrew replied that they are sample bottles but they have finished the formula. Mark then asked what was unique and special about the formulations used to make Boo Boo Goo. Andrew explained that the adhesive that makes the product waterproof is what makes it unique from others like it is available on the market.
Lori then inquired whether there was a patent on the product. Andrew replied that the patent was still pending. He had also said that after applying Boo Boo Goo, at the end of the day what was left on the skin was a completely natural, organic, and waterproof barrier.
Lori then pointed out that Kiowa and Andrew had serious competition on the market including by multiple significant companies. Lori then said she could not find the significant benefit of Boo Boo Goo in comparison to other top brands that produce the same products.
She did not think that Boo Boo Goo had something unique that could grab the entire market. Andrew had investigated his competition though. He informed the sharks that not only did all the liquid bandages available on the market display the cut or wound but they were also flammable.
Robert asked how Andrew expected to make an identity for him and Boo Boo Goo in such a saturated market. He replied that it would be possible with the right partners. Andrew also said that QVC had also shown interest in the product already. The QVC queen, Lori Grenier replied that it was unfortunate that she did not find the product as a QVC product.
Kevin admitted the fact that Andrew and Kiowa were encountering an uphill war to make an identity for Boo Boo Goo and he suggested that it would be better for them to go to some of the bigger companies and get them to license the product. In this way, the company would not get lost among the competition of the major companies that they were not able to compete with realistically.
According to Mark, the liquid bandage market was more geared towards adults than children. He thought that there were a lot of high-end players in the market and to get this product out there they had to educate the public on what made it unique from the other liquid bandages available on the market. After this, he chose to leave the deal.
Barbara followed Mark by claiming that she did not find the requirement for this product at all when there were so many band-aids, especially for children available already on the market. That is why she also went out of the deal.
Robert found it interesting that Boo Boo Goo was available in multiple colours. Nevertheless, he thought that it would be too risky for him to invest in this product. It was also too early to say whether the product would be successful and it was unfortunate that there were not adequately proven sales or data available. Hence, he also backed out of the deal.
Lori liked the fact that the product was creative. She wished the duo the best of luck and praised Kiowa for being so talented at such a young age. Nevertheless, she also declared herself out because of the simple fact that there was so much competition in the market.
The fate of Kiowa and Andrew then depended on Kevin. They were expecting that Mr. Wonderful believed in them and made an offer on Boo Boo Goo. Kevin was concerned with the fact that the patent was pending. He did not think that it would be right to invest in the product until the parent came through. Ultimately, Kevin gave an offer for the $100,000 that Kiowa and Andrew appealed for. Kevin said that the deal would only close when the patent would be confirmed. He also claimed a 25% equity stake in Boo Boo Goo.
Andrew thought about the proposal of Kevin before turning and asking Kiowa what her opinion was. She smiled and nodded and they finally agreed to take the offer of Kevin. Kevin then approached Andrew and Kiowa before praising Kiowa for her remarkable invention.
Andrew and Kiowa left the Shark Tank stage with satisfaction. After coming back from Shark Tank, kiowa claimed that she was very excited and happy that she and her father Andrew had secured the deal.
The founders of Boo Boo Goo got their website up and running after the Shark Tank Boo Boo Goo episode was aired. They also disclosed that they were bargaining with a major bandage producer. However, they did not disclose the name of the company because of confidentiality issues.
Nevertheless, nothing was launched. The original BooBoo Goo did become available through the licensing deal of Kevin. But it did not last long. In 2016 they began to run into problems where they faced difficulties in fulfilling orders. Just three years after coming up on the show, the company was shut down in 2017. Their website shut down and their social media pages had been also abandoned.
It was interesting that a lot of sources have listed Kiowa as one of the youngest entrepreneurs to become a millionaire. We are not certain whether it is true but it would surely be outstanding to find out how she was just a few years old when she launched the product.
Do you know where she is now in 2023? In 2014 she was only seven years old and now she would be 15. So we can say that she is now a high school student. Whether she would pursue any business venture in the upcoming days depends on time. If she does so, she has surely learned what it requires to become an entrepreneur.
Her father, Andrew, set up a new company named HatchedHub in September 2015. According to his LinkedIn profile, it is a leading product agency and retail retail management specialist.
To be more specific, it relates small American businesses with some of the largest retailers in the world. For instance, they offer brand with business consultation, sales presentations, retail representation, pitch sizzle reels, strategic plan creation, and more.
Some of their previous and present partners are Mondelez International, Walmart, HSM, Sam’s Club, The CW Network, and CircleUP. Many of their alumni are also being sold all over the world at Bed Bath & Beyond, Whole Foods, Krogers, and more. As of 2023, the company, which operates out of Los Angeles and South Florida is still up and running.
Furthermore, he is also the co-creator and executive producer of Hatched TV, a nationally syndicated television program that connects emerging brands with once-in-a-lifetime opportunities. Those who are curious may pay a visit to the website.
- It is a liquid bandage formula.
- It is available in different colours.
- It is friendly to the environment and biodegradable.
- It is also available in skin tone shades to cover up injuries.
- It is a skin protectant, hygienic and healthy.
- It is available at reasonable prices.
- It is easy to use and apply over the skin.
Also read: What Happened To BedJet After Shark Tank?
- Children may overuse it.
- There is a risk of spilling.
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It is no doubt a shame that a lot of these kinds of ventures start remarkably with unique ideas that do sell and secure a deal at Shark Tank but unfortunately go out of business a few years later. It is true that to sustain businesses and carry out huge business operations is a difficult task. And if you are the owner of a company it can be more difficult for you particularly if you do not have adequate prior knowledge of operating a business. Still, everyone was rooting for Kiowa. We hope that she will be a bright young woman after growing up and will get her start-up someday.
What is Boo Boo Goo?
Boo Boo Goo was launched as a coloured, liquid, paint-on bandage that is friendly to the environment and a decorative paint-on substitute to cover up small wounds without using any conventional band-aid. In this way, Kiowa was assisting in saving the planet from non-biodegradable, traditional band-aids.
Who is Boo Boo Goo for?
Anybody can use Boo Boo Goo but the father-daughter duo intended to market it, particularly for children. The children tend to get injured, bruised and scratched due to an active outdoor environment and playing with other kids. The product is supposed to be an economical choice for parents as after buying a bottle they can use it multiple times. The product is also available in various colours to grab the attention of children. The children can easily choose their favourite colour to apply to the skin.
Is Boo Boo Goo still in business?
No, Boo Boo Goo is not in business any more. Two years after appearing on Shark Tank they have not posted any update about Boo Boo Goo on their website. Their social media pages are also inactive. The product is not available anywhere at this time. The company is now hard to find online.