Toilets aren’t designed to fit the way the body naturally passes waste. A lot of people struggle or have discomfort during their regular motions. This condition may result in insufficient elimination, straining, and other digestive problems.
The Squatty Potty is Bobby Edwards and his mother, Judy Edwards’ clever yet straightforward answer to this issue. With the help of the Squatty Potty, a specifically made toilet stool, users can reach a more comfortable and natural squatting position for their bodies by raising their feet.
The Edwards team made an appearance on Shark Tank to present their innovative idea. they asked for $350,000 in exchange for 5% of their business. Let’s see if they succeeded in getting the deal or not.
Squatty Potty net worth 2024
Bobby Edwards and his mother, Judy Edwards, asked for a $350k investment in exchange for 5% equity in their company, Squatty Potty. This meant they valued their company at $7 million. They made a deal with Lori Greiner for $350k in exchange for 10% of their company, which valued Squatty Potty at $3.5 million. After the show aired, Squatty Potty saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Squatty Potty in 2024 is about $30 million.
Squatty Potty Shark Tank Update
Significant growth was seen in Squatty Potty after their Shark Tank participation. The support of Lori Greiner proved to be very beneficial as she utilized her known product’s reach in the market. Sales for the company increased, and the Squatty Potty gained widespread recognition.
Squatty Potty’s success was evident by 2021, and the consumer goods business Aterian paid more than $30 million to buy the invention. As of today, Squatty Potty is still operating and doing well. The product is easily accessible online, both on its own website and on well-known retailers like Amazon, serving consumers seeking an easy-to-use yet efficient solution for a common health issue.
Yes, Squatty Potty got the deal on Shark Tank with Lori Greiner. At first, the Edwards wanted $350,000 in exchange for 5% of their business. But after some negotiating, they settled on a $350,000 deal with Lori Greiner in exchange for 10% stock. Through this agreement, they were able to make use of Lori’s expertise in product marketing and retail, specifically on QVC, which greatly increased their sales and brand awareness.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Lori Greiner | $350,000 for 10% | $500,000 for 10% | Yes |
| Kevin O’Leary | $350,000 for 10% equity | $700,000 for 10% equity | No |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Squatty Potty Shark Tank Pitch
Judy Edwards, who had stomach problems, discovered that squatting helped her feel better, which gave rise to the concept of Squatty Potty. She and her son Bobby decided to design a product that would enable others to experience the same relaxation after realizing that the typical toilet design wasn’t supportive of this natural position.
They had to overcome a number of difficulties in the beginning, such as people’s mistrust of their product and the negative image associated with talking about personal hygiene in public. However, they continued because they were committed to offering a solution for a widespread issue. They turned their personal experience into a commercial opportunity and worked hard to educate people about the health benefits of squatting.
Bobby and Judy Edwards showed off the Squatty Potty during their Shark Tank pitch, highlighting how it facilitates squatting postures for customers to have easier stool movements. Judy clearly explains how normal squatting postures are negatively affecting our health. They discussed the potential for their product to become an everyday necessity as well as the health benefits.
With outstanding sales numbers and a cheap manufacturing cost of $4.50 per unit compared to its retail price of $25, their offer was informational and easy to understand. The Sharks were fascinated as this showed a solid profit margin and company plan.
Kevin O’Leary was interested in learning more about the sales approach and the product’s potential for success in retail settings. Bobby replied that it’s been three years in the business. They sold $1 million dollars in the first year, $2.7 million in the second year, and $2 million in the first two quarters of the present year. They had concentrated on online sales and had had great success.
Kevin also asked about the patent. Bobby responded that they have a patent for every item.
Kevin said that people can use anything else for this purpose as a stool. Bobby explained the product is designed specially for this task with perfect angles and perfect width.
Robert and Mark asked about the selling price and cost. Bobby responded that the stool sells for $25 and manufactured for $4.50. They make the products in the United States.
Mark asked about the advertising costs. Bobby explained that whenever they advertise, they get $4 to $5 in sales for every dollar they spend on advertising.
The first to make an offer was Kevin O’Leary of $350,000 for 10% equity. Bobby countered it with a $700,000 investment which Kevin rejected.
Robert Herjavec loved the product but he thinks that it’s difficult to change people’s minds to use toilets in a certain way. He chooses not to invest because he fails to see the potential in the product.
Lori Greiner made an offer of $350,000 for 10% stock because she thought the product had promise and was useful, especially on QVC. Bobby attempted to negotiate for a larger investment of $500,000, but Lori’s strong offer was ultimately accepted.
Mark Cuban and Barbara Corcoran chose not to participate because they had doubts about the founders’ reliability and decision-making process.
Product Availability
Squatty Potty can be purchased from their official website Squatty Potty as well as Amazon and other online stores that sell the product too. The Squatty Potty is an easy-to-use, functional toilet seat that facilitates squatting for users. It is available in a range of sizes and shapes to accommodate different toilets and preferences. It typically costs about $25.
Conclusion
The story of Squatty Potty on Shark Tank showed the effectiveness of a straightforward fix for a typical issue. The Edwards family created a well-known product that has benefited millions of people by turning a personal health problem into one. With Lori Greiner’s help, the business grew rapidly and achieved record levels of sales and market share.
A significant turning point was reached in 2021 when Squatty Potty was purchased by Aterian, proving that it was a successful and innovative product. It will be interesting to watch how the business develops and grows its product line in the future. It might even introduce new designs or goods that are meant to improve daily wellness and health.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
