Squatty Potty Shark Tank Pitch
Squatty Potty helps you take care of your business in while sitting on the toilet stool. The product puts you in optimal position for bowl movements. This devise places you in a relaxed position where your muscles completely relax allowing all the waste to exit from your body.
Squatty Potty puts you in a squat position, and gives you the relief that you need for a complete bowl movement.
The company is in business for three years before entering the Shark Tank. They sold $1 million first year, second year sales are $2.7 million and $2 million in the first two quarters of year three. Squatty Potty is only selling online at the time of the Shark Tank pitch.
They have a design patent and patent pending on other products. The product is $25, and costs them $4.50 to make in the United States. The question is, what do they need the money for?
They want to make this FDA compliant as a real medical product.
Their sales come at Christmas. They have to educate customers, and they advertise on Howard Stern.
Squatty Potty Episode Data
- Company: Squatty Potty – Website
- Entrepreneurs: Bobby Edwards and Judy Edwards
- Ask: $350,000 for 5% equity
- Episode Season 6 Episode 609
- Companies in this episode:
- First Aired: 01/06/2017
- Deal: Deal Lori Greiner at $350,000 for 10% equity
What do the Shark Tank Investors say about Squatty Potty?
- Mark Cuban – thinks they are talking out of both sides of their mouth. He thinks they need a value assigned and would not argue about 5%. He is out.
- Barbara Corcoran – is more nervous as she listens. She is out.
- Kevin O'Leary – says this is the first crappy investment that he likes. Kevin offers $350,000 for 10% equity.
- Lori Greiner – likes it, but to Kevin's point, 5% is a nothing-burger. She says she needs at least 10% and she does not want to give $700,000. They counter at $500,000 for 10% and Lori doesn't accept it.
- Robert Herjavec – says kudos to them as he never thought they would have that kind of revenue. He just doesn't see it. He is out.
Squatty Potty after Shark Tank
Squatty Potty sold $1 million in 24 hours after the Shark Tank episode. The company sold $19 million in 2015, and $30 million in 2016.