The Squatty Potty: How a Toilet Stool Maker Got a $1 Million Deal on Shark Tank
Squatty Potty, the Utah-based company that makes toilet stools, recently made big waves with their $1 million dollar deal on Shark Tank. Founded by Robert Edwards and his family, they recently appeared on the show and got an offer they couldn’t refuse. But how did they do it?
The company started out just trying to help their son who suffered from constipation issues, and from there they found a market. After adding a few new products, the Edwards family decided to take a chance and appear on Shark Tank. After a few rounds of negotiation, Kevin O’Leary offered them $1 million in exchange for a 10% stake in the business. It was a huge moment for the Edwards family, but it also showed the power of entrepreneurship and the potential of small businesses.
So, what can other entrepreneurs learn from the success of Squatty Potty? For starters, they showed that you don’t need to be a big, established company to get the attention of investors. In addition, they showed the importance of having a unique product and the value of a strong brand. Finally, their success on Shark Tank proved that even small businesses can make it big when they have the right strategy and an understanding of the market.
The deal with Squatty Potty is a great example of how entrepreneurs can succeed in any industry. It’s also a testament to the importance of taking risks and having a clear understanding of the market. As Robert Edwards said after the deal was made: “It was a risk coming here, but it paid off.”
“It was a risk coming here, but it paid off.” – Robert Edwards, Founder of Squatty Potty
FAQs
1. What is Squatty Potty?
Squatty Potty is a Utah-based company that makes toilet stools. Their products are designed to help people with constipation issues.
2. How did Squatty Potty get a $1 million dollar deal on Shark Tank?
The Edwards family appeared on Shark Tank and made a strong case for their products. After a few rounds of negotiation, Kevin O’Leary offered them a deal for $1 million in exchange for a 10% stake in the business.
3. What can other entrepreneurs learn from Squatty Potty’s success?
Squatty Potty’s success can teach other entrepreneurs several important lessons, such as the importance of taking risks, having a unique product and strong brand, and understanding the market.
Conclusion
The success of Squatty Potty shows that even small businesses can make it big when they have the right strategy. Their $1 million dollar deal on Shark Tank is an amazing example of what entrepreneurs can achieve when they’re willing to take risks and have an understanding of the market. As Robert Edwards said after the deal was made: “It was a risk coming here, but it paid off.”
