Bob Legg’s journey on Shark Tank Season 15 is a evidence to the fact that age is just a number in entrepreneurship. Bob, along with his business partner Keith Lindsey, introduced the world to Air Boss Outdoors at the age of 82. Their innovative product, the Krapp Strapp, gained recognition.
The Krapp Strapp, an outdoor bathroom device, is designed to make life easier for hunters and outdoorsmen, so they can comfortably answer nature’s call in the wild.
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What is Krapp Strapp Product?
The innovative Krapp Strapp offers a clever solution to a common challenge faced by outdoor enthusiasts – the lack of accessible bathrooms in remote locations.
The Krapp Strapp is a simple yet ingenious solution to a common problem faced by outdoor enthusiasts – the lack of accessible bathrooms in remote locations. Keith Lindsey demonstrated how it works, explaining, ‘You just simply attach it around your waist, attach it to a strong structure like a tree… and you simply lean back, squat down, and relieve yourself.
Seeking a Shark Tank Deal
Bob and Keith entered the Shark Tank seeking a $65,000 investment for a 10% equity stake in Air Boss Outdoors.
On shark tank Keith Lindsey demonstrated how it works, explaining, ‘You just simply attach it around your waist, attach it to a strong structure like a tree… and you simply lean back, squat down, and relieve yourself.’
The duo revealed that they had already sold 4,000 units of the Krapp Strapp at $50 each, totaling around $200,000 in sales. With a production cost of $17 per unit, the business boasted a healthy profit margin.
Recognizing the potential of the product, Lori Greiner and Daymond John made an offer of $65,000 for a 35% equity stake. However, Bob negotiated the deal down to 33.3% equity.
Lori Greiner and Daymond John recognized the potential of the product and offered $65,000 for a 35% equity stake. However, Bob negotiated the deal down to 33.3% equity.
Bob and Keith accepted the final deal of $65,000 for 33.3% equity Sharks from Lori Greiner and Daymond John and left the shark tank happily.
Krapp Strapp’s Net Worth
Krapp Strapp’s net worth is $1.3 million, and they have achieved success through innovative products and effective marketing strategies. Their monthly sales range from $2000 to $20,000, showcasing consistent growth.
Appearing on Shark Tank Season 15 is expected to be a game-changer, with potential for increased sales and net worth in the future.
Krapp Strapp’s Business Model
Air Boss Outdoors has seamlessly integrated innovation with a savvy online business model, propelling the Krapp Strapp to success.
Their diverse product range, featuring the Krapp Strapp at $49.95, The Tether priced at $31.99, and Air Boss Apparel ranging from $20 to $40, caters to the varied needs of outdoor enthusiasts.
Online Sales Strategy:
Air Boss Outdoors strategically leverages its website as a direct-to-consumer platform, providing a user-friendly experience for exploring and purchasing products.
The company has also wisely tapped into the global market by showcasing their offerings on Amazon, capitalizing on the platform’s wide reach and customer trust.
Competitive Pricing and Value Proposition:
Maintaining a delicate balance between affordability and quality, Air Boss Outdoors ensures that the Krapp Strapp and its companions are reasonably priced.
This transparent and accessible pricing contributes to the brand’s overall value proposition, fostering customer loyalty.
Krapp Strapp’s Shark Tank Appearance Video
Final Words from Author & Viewer of Shark Tank
The Krapp Strapp episode of Shark Tank shows that entrepreneurship has no age limit. The success of their unconventional product and strategic business model demonstrates the importance of adaptability in the market.
This story resonates with the entrepreneurial spirit, proving that anyone can turn their dreams into reality with the right idea, determination, and innovation.
