Adam introduced the Sharks to his most successful product, the Toilet Timer. “This is my design for a sand timer. Five minutes are allotted so that nothing of importance is missed. To help him cut down on his bathroom time, Adam came up with his Toilet Timer idea. “It’s more of a prank.”
“Oh hell no,” said Cuban at first, and “You can’t be serious,” added Barbara Corcoran. On the other hand, the Sharks were intrigued when Adam revealed the product’s sales figures.
Toilet timer shark tank:
Kamco, which sells theToilet timer shark tank, was founded by Adam for just $300 in 2017; however, during the holiday season in 2019, sales of the timer began to rise.
According to his estimate, it’s expected that by the end of the year 2020, he’ll have made between $1 million and $3 million in sales. According to the CEO, there were $318,000 in sales at the time of filming.
He said the Toilet timer shark tank costs “just under $3” to make and sells for $14.99. After discovering Potato Parcel, a company that sells potatoes with handwritten messages on them, Kevin O’Leary said he stopped disliking such tchotchke ideas. After receiving a large sum of money every month, “I’m no longer laughing,” I tell myself.
The vast majority of Sharks remained unsold, however. In your mind, this is a business. It isn’t. It’s just a ploy. “You can only make so many sales before you burn out,” Corcoran warned, and he walked away from a deal.
Lori Greiner and Daymond John joined O’Leary in declining to participate. While he had previously expressed interest in the Toilet Timer, Cuban said he had “always dreamed” of owning one. There will always be Father’s Day,” says the author.
A gag is a gag, and there will always be a need for them. So, it’s a good idea. Cuban offered to pay $200,000 for a 25% stake in the company. However, Adam and Katie accepted Cuban’s offer of a $200,000 investment for 10% equity.
Parents all over the world can attest that going to the bathroom is one of the few times they get some alone time away from the kids. So it’s not unusual for people to spend a long time sitting on the toilet and lose track of time.
A toilet timer is exactly what Adam Stephey needed. If you’re curious about how a gag gift from the billionaire Mark Cuban helped bring in a six-figure deal for a small business, read on!
Toilet Timer: What Is It?
The Toilet Timer is a small sand timer designed to be a joke to those who spend far too much time on the toilet. Thanks to the Toilet Timer, there will be no more 40-minute poo breaks!
The Toilet Timer has a 5-minute sand timer, indicating when to get out of the toilet. It is as simple as rotating the timer a full 360 degrees to restart the clock.
I’d like to know how the Toilet Timer was born.
Stephen was well aware that he was not the only one with this bad habit. He pondered the number of people who spend too much time looking at their cell phones or doing other mindless activities in the bathroom. For him, it was obvious that people needed to be reminded how long they should be “doing their business.” The Toilet Timer was the first product Adam Stephey and his wife Katie developed as Katamco, LLC.
On the other hand, Adam had been making and tinkering with things since he was a kid, while Kate was an expert in marketing. He created the first iteration of the Toilet Timer after learning how to use a 3D printer.
The Stephens raised money for their product through the crowdsourcing website Kickstarter. On Kickstarter, they raised $23,000 from thousands of backers around the world, far exceeding their goal of $20,000.
Even though the 5-minute time limit is intended to be a joke, it is based on the number of times doctors recommend taking care of business. Dr. Bradley Rieders, MD, a gastroenterologist, says that going to the bathroom should take five minutes. The risk of hemorrhoidal bleeding is high if one continues to take the medication for an extended period.
On Shark Tank, the Toilet Timer
As an apology for her husband’s propensity to procrastinate and waste time in the bathroom, Katie Stephey entered the Toilet timer shark tank independently. He joked when Adam appeared, “That would explain why I can’t feel my legs.”
Toilet Timer co-founders and owners from Normal, Illinois, came to us seeking $200,000 for ten percent of their successful business Katamco in exchange for ten percent of their most popular product line.
‘Oh hell no,’ was Mark Cuban’s first reaction to the situation.
Shark scolded, “You’ve got to be kidding.” Astounded, Barbara Corcoran walked away.
An amused Mark Cuban objected to the 5-minute time limit for pooping, saying, “Let me say for all men in America, that is the only time we get privacy.”
After Shark Kevin O’Leary stated that he was skeptical about Stephey’s valuation, Adam proceeded to talk numbers. Each Toilet Timer is priced at $14.99, but it only costs pennies to produce.
After I discovered Potato Parcels, I began to appreciate these kinds of novelty items.” Mr. Wonderful, who owns a stake in a company that sells potatoes with handwritten notes, says he is no longer laughing because he receives a large check every month.
According to Adam, they didn’t have to spend any money on advertising during the previous two Christmas seasons. Thanks to Amazon’s algorithm, which recognized how popular the product was and promoted it to its customers.
Additionally, Mr. Stephey stated that he would like to invest in a Chinese production line to increase the company’s output. The Sharks were baffled by this.
“The factory should free up and ramp up their systems to accommodate you,” he said. Don’t get sucked into that hole. Don’t ever hand over any cash to a factory. Give them purchase orders and tell them to figure out how to speed up the production of the product,” Shark Lori Greiner said. The Stephens agreed and thanked the Sharks for their valuable business advice, which they appreciated.
There was a lot of interest from Sharks in the Toilet Timer.
Only Mark Cuban was willing to make a bid on Toilet Timer. He said, “Father’s Day and the need for gags will always exist, so I’ll give you $200,000 for 25% of Toilet Timer. “I think it’s great.”
Despite the product’s impressive sales, the other Sharks were not convinced. Lori Greiner was the first to walk away, saying she didn’t believe she could make a significant contribution to the company’s success.
When they asked for too much, Mr. Wonderful walked away from the situation. There’s no way she’d invest because she said they have nothing but an idea and that the sales would eventually dry up.
Daymond the Shark Having grown from a $300 start-up to a company on track to make $1 million in sales, John congratulated them. Because they were taking away men’s only time, the Toilet Timer did not resonate with him. Because of this, John was unable to join us.
Is Toilet Timer a Shark Tank success story?
There was no point in sullying the goodwill of a generous donor. Our only choice was Mark. We can live with a 25 percent reduction. Adam Stephey concluded, “We believe that this product will be a huge success.”
After Shark Tank, what happened to the Toilet Timer app?
For the Stephens and Cubans, the good news is that Amazon has all of its Toilet timer shark tank products sold out. The Christmas season appears to have wiped out all of their supplies.
Conclusion
Adam introduced the Sharks to his most successful product, the Toilet Timer. “This is my design for a sand timer. Five minutes are allotted so that nothing of importance is missed. To help him cut down on his bathroom time, Adam came up with his Toilet Timer idea. “It’s more of a prank.”
FAQS
On Shark Tank, was there a squatty toilet?
Lori Greiner, a Toilet timer shark tank contestant, saw the product’s potential.
Are there any more toilet timers on the market?
Do you know if Toilet Timer is still a company? Kamco, the Toilet timer shark tank company, still has a working website.