The entrepreneurial spirit often leads individuals down fascinating paths, producing unique, sometimes seemingly bizarre innovations. One such invention is Krapp Strapp, an outdoor bathroom solution introduced to the world in Season 15, Episode 6 of “Shark Tank.” The product, the brainchild of Bob Legg, an 82-year-old innovator, and his business partner Keith Lindsey, is designed to provide comfort and convenience to those who need to answer nature’s call in the wild. Their creativity captured the attention of both viewers and sharks alike, resulting in a deal that has since spurred growth and heightened visibility for their invention.
Krapp Strapp Pitch and Deal at Shark Tank
Appearing on “Shark Tank” was a strategic move for Krapp Strapp’s founders, Bob Legg and Keith Lindsey, who needed a boost to their already promising business. They entered the pitch with a clear objective: securing a $65,000 investment for a 10% stake in their company. Demonstrating the utility of the Krapp Strapp was key to their pitch, as they showcased how it provides support during outdoor bathroom breaks by attaching to a tree or any stable structure. Withstanding up to 400 pounds, it even includes pockets for essentials like toilet paper.
Their engaging pitch, coupled with the humorous yet useful nature of the product, intrigued the sharks. After negotiations, two sharks, Lori Greiner and Daymond John, offered a combined deal. This resulted in a $65,000 investment for a 33.3% equity stake, valuing the company at approximately $195,195. This deal reflected the potential the sharks saw in Krapp Strapp and their belief in Bob and Keith’s vision.
Is Krapp Strapp Still in Business?
Yes, Krapp Strapp is still very much in business. Their appearance on “Shark Tank” provided the exposure needed to reach a wider audience. Since the show aired, the company has experienced a significant uptick in sales and expansion into new market avenues. By diversifying their product line and capitalizing on the increased attention from the show, Bob and Keith have successfully kept their business thriving. If you’re curious about other innovative business journeys, you can find more such stories on Start Business Times.
Krapp Strapp Net Worth
Krapp Strapp’s journey from concept to household name is a testament to the business acumen of its founders. As of 2024, the company’s estimated net worth is around $237,836, reflecting a typical 10% annual growth rate post-Shark Tank. This steady growth can be attributed to strategic marketing efforts, product diversification, and increased sales stemming from their newfound fame. With continued innovation and effective marketing strategies, Krapp Strapp’s net worth will likely see further increases.
What’s Happened Since Shark Tank?
Since their episode aired in November 2023, Krapp Strapp has experienced a flurry of positive activity. Sales soared as the product gained additional exposure and credibility from its “Shark Tank” appearance. The company expanded its online presence by selling on platforms like Amazon, alongside their primary distribution channel, the Air Boss Outdoors website. They’ve also introduced new products, such as the Tinkle Strap, a pink variant, catering to a wider audience. Additionally, their introduction of the Tether addresses common outdoor mishaps, like losing your phone while hiking.
Moreover, the positive feedback from customers has bolstered the brand’s reputation. With a 4.6 out of 5 rating on Amazon, customer reviews highlight the Krapp Strapp as a practical camping tool and thoughtful gift item. The increase in sales and favorable reviews further solidified their status in the market.
Krapp Strapp Business Overview
Krapp Strapp operates under the umbrella of Air Boss Outdoors, a company renowned for its hunting decoys, founded by the inventive duo of Bob Legg and Keith Lindsey. Based in Jacksonville, Texas, their innovation took a humorous angle, yet serves a genuine need for outdoor enthusiasts. By focusing on providing comfort and support in nature, Krapp Strapp has carved out a niche in the outdoor accessory market.
The design of the Krapp Strapp is straightforward yet effective; it attaches easily to trees or similar structures to offer a more comfortable outdoor bathroom experience. Its robust construction holds up to 400 pounds and includes practical features like pockets for essentials. This simple yet clever solution has resonated well with campers and outdoorsmen, positioning Krapp Strapp as a must-have for wilderness excursions.
How Shark Tank Helped Shape Krapp Strapp’s Future
The “Shark Tank” effect cannot be underestimated when it comes to Krapp Strapp’s success. Appearing on the show not only provided the financial backing from experienced entrepreneurs, Lori Greiner and Daymond John, but also granted invaluable exposure. The show’s large audience brought Krapp Strapp into the limelight, increasing its reach and creating a buzz that resonated across social media and various online platforms.
The mentorship from Lori and Daymond has been pivotal in guiding marketing strategies, expanding product lines, and enhancing supply chain management. Their support helped the founders navigate the immediate post-show demand spike, ensuring customer satisfaction and maintaining product quality. This partnership has been integral in propelling Krapp Strapp onto a sustainable growth trajectory.
Conclusion
Krapp Strapp’s journey showcases the power of innovation combined with strategic exposure. Turning an inventive idea into a viable business requires not just creativity but also the right platform, as demonstrated by their successful “Shark Tank” appearance. With solid foundations built and continued growth evident, Krapp Strapp’s future looks promising. Whether you’re heading into the great outdoors or just curious about unique business stories, Krapp Strapp stands as a testament to how a peculiar yet practical invention can thrive with the right support and exposure.
