Potty Safe entered season 11 of Shark Tank. It is a child-proof potty training chair designed by Stacy and Colt Hall. They invented this innovative product after having their first baby.
Potty Safe is designed to prevent a child from removing the bowl and creating a mess. It is suitable for kids of both genders. It is packed with many useful features such as a splash guard, slip feet, and more.
This product is currently available on Amazon. The founder duo left the show with a deal from Lori Greiner. The estimated net worth of the company in 2023 is $2 million.
Who are the founders?
Potty Safe is designed by Colt and Stacy Hall. They are a couple from Missouri, US. Stacy holds an accounting degree from MSSU. There’s not much known about Colt. However, we do know that he worked as a welder before starting their business.
Due to a busy job schedule, Stacy was unable to spend more time with her daughter. This made her quit her corporate job and work as a manager at an office near her house.
How was Potty Safe established?
Stacy and Colt both struggled to potty train their daughter, who always made a mess in the restroom. This made the rookie parents look for a child-proof toilet. However, they could find none. This is what inspired them to design Potty Safe which would help parents to potty train their kids.
Colt designed a prototype that would prevent kids from removing the bowl while pooping. The couple finally launched their business in 2018, but couldn’t make enough sales because of their full-time jobs.
Potty Safe on Shark Tank
Colt and Stacy entered season 11 of Shark Tank with an offer of 15% equity for $50,000. But the Sharks were concerned about the poor sales and said that the product has a small market. This made all the Sharks back out of the deal.
Initially, Lori Greiner was out of the deal, but she changed her mind later. She offered them 20% equity for $50,000. She also told the couple that she would get them a deal with Squatty Potty to increase their sales. The couple accepted the deal happily.
What happened after Shark Tank?
As per Shark Tank blogs, the deal between Lori and Potty Safe never closed. However, it did bring them a lot of publicity. As a result, the company’s revenue generation increased by up to 500%.
At present, Potty Safe is available at Walmart, Bed, Bath, Beyond, and OnBuy. You will also find the product on their official site and on Amazon.
Despite receiving tough competition from other brands like Kiddit Guard, Baby Lock, and Little Tikes, Potty Safe is doing well. It has a 4.5-star rating on Amazon.
As per reports, the company has made lifetime sales of $5 million. Their annual revenue generation is $1 million. The net worth of the company is estimated at $2 million which is expected to grow more in the future.
