Judy and Bobby Edwards, a mother and son combination, went on Shark Tank in 2014 to present their Squatty Potty invention. They were trying out for the second time. In their second tape, they emphasised the product’s medical advantages over its novelty.
A passionate team of Sharks responded to the Squatty Potty’s passionate appeal. After a barrage of inquiries and discussions, Lori Greiner agreed to invest in and partner with Squatty Potty.
What Is a Squatty Potty?
A footstool called the Squatty Potty slips right beneath a standard toilet. The stool is utilised to transition from a sitting to a squatting position on the toilet.
Because it completely relaxes the puborectalis muscle, which kinks the colon to prevent incontinence when standing or sitting, squatting is better for the elimination process.
Earnings and Net Worth
The business had a $17,000 revenue in its inaugural year, which was 2011. The company’s sales peaked in 2015, when they reached $19 million. The company hit the 33-million-dollar barrier at the end of 2017. The next objective is to reach $100 million in sales.
Who Are Judy and Bobby Edwards?
A 67-year-old woman named Judy Edwards experienced constipation. Her son Bobby and she created the first Squatty Potty together to ease her restroom troubles.
The mother-and-son team made the novelty into a hit with the assistance of Judy’s husband Edward. They initially sold them as joke gifts, but they soon recognised their product had both medicinal and lifestyle applications.
This was the impetus behind the need for a shark. They had an internet store and a patent. They demanded retailers, FDA adherence, and product compensation for medical expenses. They could be able to get that via a Shark’s contacts and name.
What Happened During the Pitch?
The Sharks were impressed by Judy and Bobby’s proposal and its effective use of visual aids. For a $35,000 investment with a 5% return, they asked. It makes sense why the Sharks were hesitant. till the results came in.
In their first year of business, Squatty Potty featured on Dr. Oz and made $1,000,000. They received a $2,700,000 return in their second year. They had earned $2,000,000 by the time of their appearance in the Tank at the conclusion of their third year.
Due to Christmas sales, the ultimate forecast for their third year was a total return of $7 000 000.
After Shark Tank
Following their pitch, they made $1 million in just two days. In the subsequent spinoff series Beyond the Tank, Bobby and Judy were highlighted in a story on Lori Greiner’s role in getting Squatty Potties into more than 11,000 Bed, Bath & Beyond stores.
The Edwards family provided the company with countless expansion options by making other designs and products available. They developed bidet spouts, odour removers, and tablets for constipation.
Aterian purchased Squatty Potty in May 2021 for $31.1 million. The upfront cash payment for the acquisition was $19 million; the remaining amount was made up of shares and transition services. Squatty Potty generated $4.7 million in operating profits and $16.8 million in sales in the 12 months prior to the acquisition.
Under Aterian’s brand, Squatty Potty is still doing well and is thought to generate sales of $10 to $15 million annually. The company is worth $50 million and has lifetime sales of over $250 million.
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Company’s Achievements and Success
The phrase used in China to describe pot toilets and ground-level toilets served as the inspiration for the company’s name. The name is intriguing and memorable in and of itself. The father handed several things away for free to bloggers and reviewers in an effort to spread the word about the product. Since then, Squatty Potty has been operational. When they met the requirements for Shark Tank, the big breakthrough occurred. Just after their debut on television, the company sold an astounding amount of goods. They also produced an intriguing YouTube advertisement that has received 100 million views.