Potty Safe Shark Tank Net Worth: Colt and Stacy come to the Shark Tank in search of $50,000 in exchange for a 15 percent stake in their company. The pair has put everything they have into their firm. They took out a second mortgage on their home and depleted their savings account in order to launch the firm.
It costs $6.50 per unit to manufacture, and they sell for $28.95 at retail. The fact that they have barely $17,000 in sales for the year (2019) raises some anxiety among the Sharks. While the Sharks are considering a prospective partnership with Walmart, they all believe it is too early to make a financial commitment at this time.
Daymond was the first Shark to leave the water, followed by Robert, Mark, and Kevin, all of whom were teammates. Lori pauses for a moment before proceeding outside. As they prepare to leave, Lori calls them back and informs them that “the Squatty Potty firm has generated $160 million in sales.” Due of the large number of brand expansions that we have, we might possibly ask them to have a look at this to see if there is something we can accomplish together.” The Halls accept her offer of $50,000 in exchange for a 20 percent stake.
The Shark Tank Blog is a resource for entrepreneurs who have appeared on the Shark Tank television show, and it is updated on a regular basis with new information. Lori’s transaction never came to a completion. In September of this year, the pair shot their segment. They had only recently started on Amazon at the time.
Sales increased tenfold between that moment and the initial air date of the show. Sales surged by 500 percent as a result of the show’s airing. The cast members can be found on Amazon, Bed Bath and Beyond, buybuy Baby, and Walmart as of July 20, 2021 — stores they visited in between taping and showing the show.
According to the company’s website, the Potty Safe is the world’s first childproof potty training chair, and the idea for the product came to the Halls as they were potty training their daughter for the very first time.
On the website, it is stated that “our daughter enjoyed emptying out the waste bowl, just as she had seen mommy and daddy do a hundred times.” Eventually, she would drop everything on the floor, adding even more stress to the already insane process of potty training!
The couple searched the internet for a locking potty chair but were unable to locate one, so they took matters into their own hands and developed Potty Safe.
The company was named the winner of the 2019 Creative Child Product of the Year award, as well as the 2019 Baby Maternity Top Choice Award and the Family Choice Award, according to Stacy, who spoke to the website. “These are tremendous distinctions, and we are overjoyed to have received them. Additionally, we have a utility patent for our Potty Safe.”
They are nominated for the same honours in 2020, but the judgement has been postponed until after COVID-19 takes place. The company has already earned recognition in 2020, having received the 2020 Baby and Children’s Product Number 1 Reader’s Favorite Potty award and being featured in Inventors Digest.