In Shark Tank, Season 11 Episode 22 a duo came on stage with the idea of Potty Safe. Potty Safe is a product that is very useful and helpful. Colt and Stacy Hall invented Potty Safe when they had their first child.
Potty Safe is a child-proof Potty training chair that prevents a child from removing the waste bowl and making a mess. It is of perfect size for both boys and girls, it has a non-slip feet feature, Splash guard built, Simply designed, and can be removed easily by an adult for cleaning.
Potty Safe can be purchased online from Amazon. Founders of Potty Safe came on Shark Tank in search of investors to expand their business. They got an investment offer from Lori Greiner of $50,000 in return for 20% equity. The product comes in three colors Grey, Yellow, and Hot Pink.
Potty Safe at a glance:
|EPISODE NO||Season 11 Episode 22|
|BUSINESS IDEA||Child-proof Potty training chair|
|FOUNDER||Colt Hall And Stacy Hall|
|ASKED FOR||$50,000 For 15%|
|ACCEPTED OFFER||$50,000 For 20%|
|BUSINESS STATUS||In Business|
Founder Story and Details:
Potty Safe was founded back in 2013 by a couple when they had their first child, while training her as she created a mess of potty which was a headache for them.
They decided to search for a lock potty chair in the market and they were failed to find it. So instead of just sitting, they took it seriously and started working on it. Potty Safe is a lock safe potty training chair that cannot be removed by the child. They invested their savings and remortgaged their house to start the company.
Founders didn’t have any experience of business thus it took them some time to launch their product in the market. But we all know Good works take time. Now, Potty Safe has a huge market online and their products can be easily accessible on Amazon, Walmart, BuyBuy baby.com, Baby and Beyond. They also had their product in some local shops.
How was the Potty Safe Shark Tank Pitch?
Founder of Potty safe came up on Shark Tank with a pitch of $50,000 for 15% equity. After explaining about their product, they listed its features and also the advantages. Sharks didn’t find their product to be investable, although they have its market on Walmart. Firstly, Daymond was out, and to follow him up Robert, Kevin and Mark also moved out.
Colt and Stacy Hall were walking out of the show when Lori Greiner called them back and offered a risk-taking deal by investing in Potty Safe as she had done for Squatty Potty. Lori wanted 20% equity for $50,000. Stacy Hall agreed and made a deal with Greiner.
What happened TO Potty Safe after Shark Tank?
After making a deal with Shark Lori, the contract was never finished. In the same year, in September they had their product on Amazon. The production cost is $6.50 apiece and they sell for $28.95.
They only made $17,000 in revenue for the year 2019, which worried the Sharks. Sales increased tenfold from the time since the episode was shot to the initial air date. Sales surged by 500 percent. They can be found on many online websites such as Amazon, Walmart, BuyBuy baby.com, Bed, Bath and Beyond.
In 2019, they won the Creative Child Product of the Year award, Baby Maternity Top Choice Award, and Family Choice Award. They were nominated for the same in the year 2020, but due to covid-19, results were not declared.
Potty Safe revenue:
Potty Safe had won many awards which made their product more popular over the year, they sell the product online on some official websites such as Amazon, Bed, Bath and Beyond, etc. which gives easy access to the consumers to reach the product and generate revenue for the business.
It costs $6.50 per unit to make and they sell it for $28.95 which creates a huge margin to make money in the market. They have their product in 3 different colors Grey, Yellow and Hot pink which is lovable by small children and the same attracts the customers. In 2019, they made a sale of $17000, which was not enough as per the Sharks to put their money into the risk zone.
Investors details and Funding:
Lori Greiner is an Inventor, Entrepreneur, and famous American Television personality who appears on the famous business show ‘Shark Tank’. She has been known as Queen of QVC since 2000.
Colt and Stacy came up with a need of $50,000 for 15% of their equity, but when all the other sharks didn’t show any interest in Potty Safe, Lori offered a deal of $50,000 for 20% of equity to which Hall agreed and made a deal.
What is potty safe net worth?
At the time of the shark tank appearance, Potty safe was valued at around $250,000.
In today’s scenario competition boosts all the organizations to improve themselves day by day. Few alternatives of Potty Safe product are:-
- Baby Lock
- Squatty Potty
- Little Tikes
- Kiddit Guard
Interesting facts about Potty Safe:
Some interesting facts about Potty safe are:-
- Potty Safe is available online.
- Potty Safe is irremovable by children.
- It has won many awards. ( Creative child award, Family Choice, etc. )
- Reduce the stress of Potty training
- First Child Proof Potty Training Chair
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What is Potty Safe?
Potty Safe is a child-proof Potty training chair that prevents a child from removing the waste bowl and making a mess.
Who founded Potty Safe?
Colt and Stacy Hall invented Potty Safe when they had their first child.