Pitch Introduction
Krapp Strapp Shark Tank pitch showcased how 81-year-old entrepreneur Bob Legg and his business partner Keith Lindsey solved one of nature’s most uncomfortable problems. The duo entered the tank seeking $65,000 for 10% equity in their innovative outdoor bathroom solution, designed to make answering nature’s call more comfortable for hunters, campers, and outdoor enthusiasts.
Business Overview
Krapp Strapp is a weatherproof strap designed to help people relieve themselves comfortably while outdoors. The product addresses the common problem faced by hunters, campers, and outdoor enthusiasts who need to use the bathroom in nature without proper facilities. The strap attaches around the waist and connects to a sturdy structure like a tree, allowing users to lean back in a comfortable position. With a weight capacity of 400 pounds and two pockets for storing toilet paper or other supplies, Krapp Strapp aims to make outdoor bathroom breaks more dignified and comfortable.
| Company Detail | Information |
|---|---|
| Product Name | Krapp Strapp |
| Company | Airboss Outdoors |
| Founders | Bob Legg and Keith Lindsey |
| Price | $49.95 |
| Cost to Make | $17 |
About Founder’s
Bob Legg and Keith Lindsey are the entrepreneurs behind Krapp Strapp and Airboss Outdoors. Bob, at 81 years old during the pitch, brought a lifetime of experience to the tank. The duo hails from Jacksonville, Texas, and has been working together for about 3-4 years, though they’ve known each other for 30 years. Bob’s background in innovative outdoor products includes previously creating motion decoys for duck hunting, which incorporated motors to make decoys move and attract more ducks. After selling that company, Bob partnered with Keith to develop an outdoor business focused on solving practical problems for outdoorsmen.
- Bob Legg is an 81-year-old entrepreneur with extensive experience in outdoor products
- Keith Lindsey has been Bob’s business partner for 3-4 years
- The duo previously created motion decoys for duck hunting before developing Krapp Strapp
- Both founders are passionate about solving practical outdoor problems
Shark’s and Founder’s QnA
What is the Krapp Strapp and how does it work?
The Krapp Strapp is a solution for relieving yourself in the woods. You simply attach it around your waist and then attach it to a strong structure like a tree or even a fence post. You could use the bumper on a vehicle even. You simply lean back and let it fly and relieve yourself. It will take and hold 400 lb. It’s got two pockets, each one on each side for toilet paper, corn cobs, leaves, or any other thing you want to put in it.
Why would someone need the Krapp Strapp?
In the outdoors, you go out and you relax and you have a good time. But there’s always a number one problem relieving yourself in the woods. We’ve developed the number one necessity for doing number two outdoors. It allows everybody a comfortable way of doing the deuce outdoors. How many of you one-handed can take a piece of toilet paper and make it into a nice wipeable piece of equipment while you’re hanging on to the tree? And if you don’t do enough and you leave a residual, it’s going to itch when it dries.
What is your background in creating products?
I’m 81 years old. I’m a young relationship, dude. I got to watch one. I can bend my knees, but then I can’t get up. And was this your first invention? No, ma’am. Our company started with motion decoys. What’s a motion decoy? When you put decoys out, I go duck hunting. They just sit there. Well, I put a motor in them so they’d move and the ducks would say, Hey, dude. There’s someone down there. Let’s go. Anyway, I sold the company and then about three four years back got associated with Keith whom I have known for 30 years and we developed an outdoor business.
What are your sales figures?
The Krapp Strapp went on the market in October of last year. With zero advertising dollars spent, last year we sold approximately 4,000 units between October and how many dollars? Every unit went through our e-commerce website. We charge $49.95 each. It cost $17 to make. It was no advertising whatsoever. We had 200 grand worth of Krapp Strapps in four months.
How did people discover your product without advertising?
July the 1st, he put it online just for one social media post by me. That was on a Friday. Tuesday, it had been seen by 1,200 people. And we had a list of wild and bully.
What do you need the money for?
I want to be clear about our intentions for your $65,000. You know, the people that have been really successful at marketing, e-commerce, social media, advertising, we have tried some of that and we waste money. So, we get it. So right now what you’re saying is that you want to take the money and I guess the partnership to do the sales and market. Exactly what we want. A partnership.
Lori, what do you think of the product?
You know, I think it’s so inspiring to see you here creating products and building a business. Bless you. And I think it’s a great product because sales don’t lie and you’ve got sales. But I will not be going on the Krapp Strapp journey with you. It’s not for me, but I wish you all the best. I’m out.
Kevin, what are your thoughts?
Fantastic presentation and right to the point. I was a camp counselor as a teenager and I’ve had my rear end bitten by mosquitoes while doing number two. That’s why I have a new motto for my life. Every night I have to sleep somewhere where there’s a mint on my pillow. I think this is a fantastic product. You think about products on Shark Tank for 15 years, there’s never been a Krapp Strapp. Never. And it works. But guys, I’m not your Shark. I’m out.
Robert, are you interested?
Keith and Bob, I think I’m actually interested. I’m one of I think I’m the only outdoors person here, but I’ll be very honest. There’s another shark here. She would be interested because she happens to have been in this space in different categories. Squatty Potty. I think he has some other products in this area. I’m asking if I can get another shark in on here if she’s interested. I will go in on it with you. I’ll clear the deck because I wanted to make sure you guys got an offer because you’d be fun to work with. But Damon’s the outdoor shark and he understands better than I do. So, I’ll go out and if their deal is nasty, then I’ll come back in.
Lori and Daymond, what’s your offer?
Damon and I discussed this. We realize you need a lot of help with a lot of things. Damon and I are going to go in on it, but we want to be more equal partners to you. You came in asking for 65,000 for 10%. We’re going to ask for 65,000 for 35%.
What’s your response to our offer?
Give us a little bit of room. Yeah, let’s do 33 and a 3. Damon loves that number. Bob, we’re there. We’re done. We’re done. Congratulations, guys. Well done.
Key Stats & Financials
The Krapp Strapp demonstrated impressive financial performance for a new product with no advertising budget. The company’s sales figures and margins caught the attention of the Sharks, particularly the fact that they generated substantial revenue in just four months through organic social media growth and word-of-mouth marketing.
- Sales: Approximately 4,000 units sold in the first four months on the market
- Margins: Product costs $17 to make and sells for $49.95, resulting in a healthy profit margin
- Valuation: The entrepreneurs initially valued their company at $650,000
- Investment Request: $65,000 for 10% equity
- Use of Funds: Marketing, e-commerce, social media advertising, and partnership guidance
| Financial Metric | Value |
|---|---|
| Revenue (4 months) | $200,000 |
| Product Price | $49.95 |
| Cost per Unit | $17 |
| Profit per Unit | $32.95 |
| Original Valuation | $650,000 |
Business Potential and TAM
Krapp Strapp has significant business potential in the outdoor recreation market. The product solves a universal problem faced by anyone who spends time in nature without access to proper bathroom facilities. The total addressable market includes hunters, campers, hikers, fishing enthusiasts, and outdoor workers. With the outdoor recreation industry valued at billions of dollars annually, even capturing a small percentage of this market could result in substantial revenue for the company.
- The product addresses a universal need for outdoor enthusiasts
- Hunting and camping markets offer immediate customer base
- Potential expansion into disaster relief and military applications
- Low manufacturing costs allow for healthy profit margins
Krapp Strapp: Ideal Target Audience & Demographics
| Demographic | Details |
|---|---|
| Primary Market | Hunters and campers aged 30-65 |
| Secondary Market | Hiking enthusiasts and outdoor workers |
| Geographic Focus | Rural and outdoor recreation areas |
| Income Level | Mid to high (able to afford outdoor recreation) |
Marketing and Distribution Strategy
Krapp Strapp’s initial marketing success came from organic social media growth, with a single Facebook post generating over 1 million views in just a few days. The company primarily sold through their e-commerce website, but with the investment from Lori Greiner and Daymond John, they plan to expand their marketing efforts significantly. The partnership brings expertise in e-commerce, social media advertising, and product placement that the founders acknowledged they lacked.
- E-commerce sales through the company website
- Social media marketing and influencer partnerships
- Potential retail distribution through outdoor recreation stores
- Expansion into hunting and outdoor trade shows
Krapp Strapp Deal Outcome
Bob Legg and Keith Lindsey successfully secured a deal with two Sharks on their pitch. After initial offers and negotiations, they agreed to a deal with Lori Greiner and Daymond John. The Sharks recognized the product’s unique positioning in the market and the founders’ need for marketing expertise.
| Deal Detail | Value |
|---|---|
| Investment Amount | $65,000 |
| Final Equity | 33.3% |
| Investing Sharks | Lori Greiner and Daymond John |
| Valuation at Deal | $195,195 |
| Investment per Shark | $32,500 for 16.65% each |
Krapp Strapp Post-Show Update
Since appearing on Shark Tank, Krapp Strapp has likely experienced increased visibility and sales. The partnership with Lori Greiner and Daymond John has provided the marketing expertise and business guidance that the founders were seeking. The product continues to be available through their website at Airboss Outdoors, and with the Sharks’ involvement, distribution channels have probably expanded to include major retailers and outdoor specialty stores.
Business Analysis & Lessons
The Krapp Strapp pitch offers several valuable business lessons. First, it demonstrates that age is not a barrier to entrepreneurship, with 81-year-old Bob Legg successfully pitching and securing a deal. Second, it shows the power of solving an uncomfortable but universal problem with a simple, practical solution. The founders’ honesty about their marketing weaknesses and their desire for partnership rather than just funding made them attractive to the Sharks.
The pitch also highlights the importance of knowing your numbers and having proof of concept through sales. Despite having no marketing budget, Krapp Strapp’s impressive sales figures demonstrated market demand and validated the product concept, making it easier for the Sharks to see the business potential.
- Age should never be a barrier to entrepreneurship and innovation
- Solving uncomfortable but universal problems can create successful products
- Having sales data and proof of concept strengthens your position when seeking investment
- Being honest about your weaknesses and seeking strategic partnerships can be more valuable than just securing funding
Pitch Conclusion
Krapp Strapp’s successful Shark Tank pitch demonstrates how a simple solution to a universal problem can capture the attention of both consumers and investors. Bob Legg and Keith Lindsey’s journey from Texas to the Shark Tank, armed with an innovative product and impressive sales figures, resulted in a valuable partnership with two experienced Sharks. As they continue to grow with the guidance of Lori Greiner and Daymond John, Krapp Strapp is poised to become an essential item for outdoor enthusiasts everywhere. Have you used the Krapp Strapp or seen it in stores? Share your thoughts in the comments below!