Before we even get into some analysis of the latest product to hit the “Shark Tank” stage, we have to say that we loved Googling the name here, only to have a Google+ image of Shaquille O’Neal dressed as a genie come up. We’re not talking about the movie “Kazaam” here though; instead, it is KAZAM Balance Bikes.
The idea behind this seems to be simple enough and as a matter of fact, that is exactly what is is designed to be: An easy way to teach children how to ride a bike using something that balances itself. We don’t know enough about the technology to call this a Segway for kids, but that is the only other mode of transport we know of that has similar technology.
We like the fact that the pricing here ($150 or so for a package including a bike and a helmet) is comparable to what is out there on the bike market when training wheels are included, and we also dig the company’s branding. With that being said, we’re totally flying blind on this one. We haven’t seen a clip of the product on the show, so who’s to say that the margins are good, or they are willing to give away a reasonable share of the company to one of the sharks?
The biggest issue that we have with KAZAM, and this comes from someone who is not a parent and who remembers growing up using training wheels, is that this solves a problem that didn’t really need worth solving. Isn’t this more expensive than buying training wheels, sticking them on a bike, and then removing them later? As innovative as the product is, we question whether a parent is going to want to buy a training bike, and then buy a normal bike as soon as they have that figured out. The long-term use of this seems to only be there if you are some imitation of the Gosselin family and have many kids who need to learn.
We’ll be back later today with our full review, so for now we leave you with a reminder to check out some of the other products that have been featured on the show this season.