Potty Safe is a specialized toilet for children with a locking mechanism that can only be opened by adults, as well as a removable waste bowl for easy cleaning. The product was created by Colt and Stacy Hall, a couple from Missouri who had no prior experience in launching products.
They came up with the idea while potty training their daughter, as they were frustrated by the mess and hassle of conventional potties. They created their solution, which they patented and launched in 2018. In this article, we will explore the story behind Potty Safe, how it got featured on Shark Tank, and what is its current net worth.
What is Potty Safe and How Does It Work?
Potty Safe is a potty training toilet designed to prevent spills, leaks, and accidents. It has a unique locking feature secures the waste bowl to the base so that only adults can remove it for disposal and cleaning.
This way, children cannot tip over the potty or play with its contents. The waste bowl also has a splash guard and a handle for easy carrying. The potty is durable plastic and comes in various colors and patterns.
How Did Potty Safe Get on Shark Tank?
In 2020, Colt and Stacy applied to be on the popular TV show Shark Tank, where they pitched their product to a panel of investors, or Sharks. They asked for $50,000 in exchange for 15% of their company, valuing it at $333,333. The Sharks were impressed by the product’s design and functionality but doubted the sales figures and the market potential. They also questioned the couple’s business ability while holding full-time jobs.
However, one of the Sharks, Lori Greiner, saw the potential in Potty Safe and offered $50,000 for 20% of the company, lowering the valuation to $250,000. Colt and Stacy accepted the deal, hoping Lori’s expertise and connections would help them grow their business.
Toddlers love the comfort of a Potty Safe… Parents love the CHILD PROOF LATCH! pic.twitter.com/67llVSJkjU
— Potty Safe (@PottySafe) March 16, 2021
How Did Potty Safe Perform After Shark Tank?
After securing the deal with Lori, Colt, and Stacy started working with her team to improve their product and expand their distribution. They recorded their project in September 2020 and started selling their product on Amazon. As the show’s airing approached, sales significantly increased and continued to surge even more after it aired.
The product also received positive feedback from customers and critics alike. It won several awards, including the 2019 Creative Child Product of the Year Award, the 2019 Baby Maternity Top Choice Award, and the Family Choice Award. It also got featured in Inventors Digest and other media outlets.
Today, Potty Safe is available on various platforms such as Amazon, Bed Bath Beyond, Buy Baby, and Walmart. It is also manufactured in the United States, a rare feat for small businesses. The company holds a utility patent for its product and has been recognized as the number one reader’s favorite potty by Baby and Children’s Product News.
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What is Potty Safe’s Net Worth in 2023?
According to some sources, Potty Safe’s net worth in 2023 is estimated to be around $2 million. This is a remarkable increase from the $250,000 valuation that they got from Lori on Shark Tank. The company has grown by leveraging Lori’s resources and network and delivering a high-quality product that solves a common problem for parents and children.
Potty Safe exemplifies how a simple idea can become a successful business with guidance and support. Colt and Stacy have proven inventors and entrepreneurs who can overcome challenges and seize opportunities. They have also shown that they are passionate about their product and mission to make potty training easier and safer for everyone.
Conclusion
Potty Safe is a successful example of how a simple idea can solve a common problem and create a profitable business. Colt and Stacy Hall have turned their personal experience into a product that helps parents and children with potty training. With the help of Lori Greiner and Shark Tank, they have grown their company and reached more customers nationwide. Potty Safe is not only a childproof potty training chair, but also a wise investment for anyone who wants to support a family-owned business that makes life easier for families.