Super Potty Trainer
DEAL
EPISODE SUMMARY
🕓 Air Date: May 21, 2021
Asking For:
$300,000 for 10%
Investor:
Lori Greiner, Daymond John (50/50)
Deal:
$300,000 for 50%
PRODUCT SUMMARY
The Super Potty Trainer is a training device designed to facilitate quick and safe potty training for children by providing back support and stability on a standard toilet seat.
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Background Story
Judy Abrahams, from San Andrés Island, Colombia, and Chris Guerrera sought an investment of $300,000 for 10% of their company, Super Potty Trainer, on the TV show “Shark Tank.” The founders introduced themselves as the “Queen of Potty Training” and the “King of Manufacturing,” respectively. Judy quit her job to focus on potty training her daughter, who was struggling with the process.
When her daughter made progress with her support, Judy saw the need for a potty training aid and patented the Super Potty Trainer. Chris brought his manufacturing expertise to the venture, enabling them to produce the product in the USA at a low cost.
The Product
The Super Potty Trainer is designed to simplify and accelerate the potty training process for children. It features a sturdy back support that allows children to sit directly on the toilet from day one.
Nonskid pads make the device adjustable and prevent it from slipping. It grows with the child, eliminating the need for additional training aids.
To use, parents simply place the Super Potty Trainer on the toilet seat, adjust its position if needed, and lower the seat. It offers a comfortable and secure seat for children, helping them overcome their fear of using the toilet.
How It Went
The company’s position before Shark Tank
At the time of the pitch, Super Potty Trainer had generated $65,000 in sales within six months of its launch. The product was available in nearly 400 stores, primarily through Walmart. Walmart had also made a commitment to expand Super Potty Trainer to 4,800 stores, which represented a potential $1.1 million purchase order. Additionally, Menards had shown interest in carrying the product in 350 stores.
Despite these commitments and interests from major retailers, the company had not yet received the physical purchase orders, leading to skepticism among the sharks. The founders had an inventory of 3,500 units, which raised concerns about their ability to sell directly to customers, especially during the pandemic.
The Negotiations:
During the negotiation phase, the sharks expressed their concerns about the high valuation of the company and the lack of physical purchase orders from retailers, despite commitments and interest. Mark Cuban and Robert Herjavec both dropped out of the deal, stating that the valuation was unrealistic.
Daymond John and Lori Greiner were the remaining sharks interested in the product. They offered $300,000 for 50% equity, a significantly larger share of the company than the founders initially sought. The founders accepted the offer, recognizing that the sharks’ expertise and connections could help them expand the product nationwide.
The deal with Daymond John and Lori Greiner represented a turning point for Super Potty Trainer, as it secured the funding and support needed to further develop and market the product. The founders were thrilled to have two sharks on board and believed that this partnership would propel their business to new heights.
