What Is Potty Safe?
The Toilet Safe is a kid potty with a childproof clasp and a detachable waste bowl that can only be removed by adults and not children. It also features an easy-to-clean design.
According to the company website, the Toilet Safe is the first childproof toilet training chair, and the Halls got the idea for it while potty training their first daughter. “Our kid liked emptying out the garbage bowl just like she had seen mommy and daddy do a hundred times,” according to the website.
She’d end up spilling it all over the place, adding to the toilet-training chaos! They looked online for a locked toilet chair but couldn’t find one, so they designed Potty Safe themselves.
Who Founded Potty Safe?
Potty Safe was founded by Colt and Stacy Hall.
At the Shark Tank Pitch, What Happened to Potty Safe?
Because Stacy is an accountant and Colt is a welder, they didn’t have much experience launching products, it took them some time to get to market. During the day, they worked full-time jobs and created Potty Safe in the evening.
Their invention was eventually granted a patent. The trash bowl is attached to the base, making it difficult, if not impossible, for a child to remove it and spill. The couple officially established their business on August 21, 2018, and began selling their products online. Initially, they sold products in a small mom-and-pop shop.
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) May 9, 2020
Potty Safes may now be found on Amazon, as well as at Bed, Bath & Beyond, buy Baby, and Walmart. Grey, yellow, and hot pink are all available for $28.95. Every Potty Safe on the market is also totally made in the United States. The duo is most likely on the lookout for a Shark to help with distribution and financing purchase orders. Will a Shark think this is a wise investment?
Colt and Stacy travel to Shark Tank in search of $50,000 in return for a 15% stake in their business. The two are completely dedicated to their project. They remortgaged their house and depleted their savings account to start the business. The manufacturing cost is $6.50 per unit, with a retail price of $28.95.
The Sharks are anxious since their sales for the year are barely $17,000. (2019). Despite the fact that a potential deal with Walmart is in the works, the Sharks all agree that now is not the time to invest.
Daymond was the first Shark to die, followed by Robert, Mark, and Kevin. Lori pauses for a moment before exiting. “The Squatty Potty Company has $160 million in revenue,” Lori says as they walk out the door. We can have our brand extensions look at this and see if there’s anything we can do together because we have so many.”
She makes a $50,000 offer in return for 20% of the company, which the Halls accept.
Potty Safe after the Shark Tank pitch:
The couple shot their part in September of this year. At the time, they had just started selling on Amazon. From then until the first air date, sales surged tenfold.
After the program aired, sales increased by 500%. As of July 2021, they may be available on Amazon, Bed, Bath & Beyond, buy Baby, and Walmart, which they visited between filming and airing.
— Robert Herjavec (@robertherjavec) May 9, 2020
According to Stacy, the company won 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 the website.
These are great awards, and we are thrilled to have received them. Our Potty Safe is also protected by a utility patent. They’ve both been nominated for the same honors in 2020, but the decision won’t come until after COVID-19.
The company has already gained notice in 2020, winning the Baby and Children’s Product Number 1 Reader’s Favourite Potty award and being included in Inventors Digest.
Potty Safe Net Worth:
The acquisition resulted in the firm being valued at $250,000.