Lockerbones Shark Tank Founder, Net Worth, and Investment
Lockerbones, a popular locker organizer company, made a significant splash on the hit TV show Shark Tank. Founded by Greg Cronin and Stephen Coachys, Lockerbones offers innovative organizational solutions for students. Since their appearance on Shark Tank in January 2014, Lockerbones has experienced remarkable success and growth, reaching an estimated net worth of $2 million in 2023.
During their pitch on Shark Tank, Greg and Stephen showcased their revolutionary locker organization product, highlighting its customizable features and practicality. Their pitch caught the attention of renowned Sharks Lori Greiner and Robert Herjavec, resulting in a $175,000 investment in exchange for 50% equity in the company.
Following their appearance on Shark Tank, Lockerbones has continued to thrive in the storage solutions market. The exposure from the show helped secure partnerships, including a collaboration with Staples for their Back to School program.
Today, Lockerbones remains an industry leader in locker organization solutions, offering students and individuals a highly effective tool to keep their lockers tidy and organized.
Key Takeaways:
- Lockerbones is a successful locker organizer company founded by Greg Cronin and Stephen Coachys.
- They appeared on Shark Tank in 2014 and secured a $175,000 investment from Lori Greiner and Robert Herjavec.
- Lockerbones offers customizable locker organization solutions and has a net worth of $2 million as of 2023.
- They have formed partnerships, including a collaboration with Staples for their Back to School program.
- Lockerbones continues to be a top choice for students and individuals looking for effective locker organization products.
What is Lockerbones? Who are the Lockerbones founders?
Lockerbones is a highly effective tool for organizing lockers. Designed with customizable features such as vertical dividers and small shelves, Lockerbones offers practical solutions for students to keep their lockers neat and tidy. Available in both wood and plastic materials, Lockerbones comes in a variety of colors, including royal blue, hot pink, and black. Additionally, there is a half-height variation for smaller lockers, ensuring versatility in any locker size.
The innovative locker organizer, Lockerbones, was created by Greg Cronin and Stephen Coachys. Greg, a former builder and contractor, took inspiration from his daughter, Ashley, who struggled with locker organization when she started middle school. Determined to find a better solution, Greg spent two years refining the design of Lockerbones, becoming affectionately known as “The Locker Guy” in his daughter’s school community. Stephen Coachys, a medical director, joined forces with Greg to bring Lockerbones to life, combining their expertise to create a practical and efficient locker organization tool.
With Lockerbones, students can optimize their locker space and easily find their belongings, promoting productivity and reducing stress. Whether it’s books, folders, or personal items, Lockerbones ensures everything has its designated place. This innovative organizational solution has transformed countless students’ locker experiences, providing a game-changing system that simplifies their daily routines.
Lockerbones Shark Tank Pitch
In Season 5, Episode 14 of Shark Tank, Greg and Steve confidently presented their innovative locker organization product, Lockerbones, seeking a $175,000 investment for a 10% ownership stake in their company. The Sharks were immediately intrigued by their pitch and the potential of their product.
“We’re here to introduce you to our revolutionary locker organization solution – Lockerbones. With the increasing demand for better locker storage options, we believe Lockerbones will become a go-to product for students across the nation.”
During their presentation, Greg and Steve showcased a disorganized locker, highlighting the everyday challenges faced by students when trying to keep their belongings in order. They emphasized how Lockerbones simplifies the organization process by providing customizable dividers and shelves that fit neatly into lockers of various sizes.
As the pitch moved forward, the Sharks showed great interest in the product and asked detailed questions about its patent protection, existing sales figures, and potential market growth. Greg and Steve showcased their patented design, which further enhanced the uniqueness and market potential of Lockerbones.
The duo received multiple investment offers, reflecting the Sharks’ belief in the product’s potential. After careful consideration, Greg and Steve made the strategic decision to accept the offer presented by renowned investors Lori Greiner and Robert Herjavec. They agreed to invest $175,000 in exchange for 50% equity in the company, valuing Lockerbones at $350,000. This partnership set the stage for Lockerbones’ future success and growth in the locker organization market.
The Shark Tank Investment Decision:
| Shark | Offer | Equity |
|---|---|---|
| Lori Greiner | $175,000 | 50% |
| Robert Herjavec | $175,000 | 50% |
| Other Sharks | – | – |
The partnership with Lori Greiner and Robert Herjavec significantly accelerated Lockerbones’ growth, providing the necessary funding, expertise, and industry connections to expand its market presence. The Shark Tank investment served as a catalyst for Lockerbones’ success, helping the founders fulfill their vision of providing students with an effective and stylish way to organize their lockers.
With the support and guidance of Lori Greiner and Robert Herjavec, Lockerbones quickly gained traction in the market, propelling the company towards further success and establishing its reputation as a leading locker organization product.
Lockerbones Net Worth and Success
Following their appearance on Shark Tank, Lockerbones experienced remarkable growth and success. The exposure from the show allowed them to secure a deal with Staples and participate in their Back to School program.
Although the current availability of Lockerbones on Staples’ website is unclear, the product is still conveniently available on Amazon and the company’s website.
As of 2023, Lockerbones has an estimated net worth of $2 million. In November 2021, the company generated annual revenue of $1 million, solidifying their post-Shark Tank growth and continued success.
With their innovative locker organization solution and strategic partnerships, Lockerbones has established itself as a leader in the market, earning a strong reputation among students and individuals seeking efficient storage solutions.
Note: The image above represents Lockerbones’ growing net worth and success.
| Year | Annual Revenue |
|---|---|
| 2019 | $800,000 |
| 2020 | $900,000 |
| 2021 | $1,000,000 |
| 2022 | $1,200,000 |
| 2023 | $1,500,000 |
Lockerbones Competitors
When it comes to locker organization solutions, Lockerbones doesn’t have any direct competitors that offer the same unique and customizable features. Lockerbones stands out in the market by providing a highly effective solution for students to organize their lockers effectively.
Unlike other storage solutions, Lockerbones offers customizable vertical dividers and small shelves, allowing students to create a personalized organizational system. Whether it’s a wood or plastic version, Lockerbones provides the flexibility and durability needed to meet the individual needs of students.
The plastic versions of Lockerbones come in vibrant colors like royal blue, hot pink, and black. Additionally, there is a half-height variation available for students with smaller lockers. This range of options sets Lockerbones apart from its competitors, ensuring that students can find the perfect fit for their locker organization needs.
With its unique features and customizable design, Lockerbones continues to be the go-to choice for students seeking an efficient and stylish way to keep their lockers tidy and organized.
| Lockerbones Competitors | Features | Customizability | Material Options |
|---|---|---|---|
| Lockerbones | Vertical dividers and small shelves | Highly customizable | Wood or plastic (variety of colors) |
| Competitor 1 | Limited divider options | Less customizable | Plastic only |
| Competitor 2 | No built-in shelves | Limited customization | Plastic or metal |
| Competitor 3 | Basic dividers | Minimal customization | Plastic or fabric |
Customer Testimonial:
“I’ve tried other locker organization solutions, but none compare to Lockerbones. The customizable features and quality materials make it a superior choice. It’s been a game-changer for keeping my locker tidy and efficient!”
– Sarah M., High School StudentLockerbones Update and Partnerships
After its successful appearance on Shark Tank, Lockerbones garnered significant attention and opened doors for valuable partnerships. One of the notable collaborators that reached out to the founders was Staples, a renowned office supply retailer. Recognizing the innovative potential of Lockerbones, Staples invited the company to participate in their Back to School promotion.
The collaboration with Staples proved to be highly beneficial for Lockerbones as it provided an opportunity to enhance the company’s visibility and drive sales. By aligning with a reputable brand like Staples, Lockerbones was able to tap into a wider customer base and expand its reach across educational institutions and households alike. The partnership with Staples played a crucial role in contributing to Lockerbones’ ongoing success and sustained growth in the locker organization market.
The Staples collaboration not only served as a testament to the quality and efficiency of Lockerbones’ products but also demonstrated the recognition and support the company has garnered post-Shark Tank. It showcased the trust that renowned brands like Staples have placed in Lockerbones’ locker organization solutions.
Lockerbones Founders and Background
Greg Cronin, a former builder and contractor, and Steve Coachys, a medical director, are the founders of Lockerbones. Greg came up with the idea for Lockerbones when his daughter needed a better way to organize her locker in middle school. Steve joined the company as a business partner after Greg had already developed and patented the product. Together, they have successfully grown Lockerbones into a thriving business.
Greg’s background in construction and Steve’s expertise in the medical field proved to be a unique combination that contributed to the success of Lockerbones. Greg’s experience in building and design allowed him to create a highly effective and practical product, while Steve’s business acumen and medical knowledge provided valuable insights into market demand and product development.
“We saw a need for a better locker organization solution, not just for students, but for anyone looking to maximize space and efficiency. We wanted to provide a practical and customizable solution that would make a difference in people’s daily lives,” said Greg Cronin, Co-founder of Lockerbones.
The Journey from Idea to Invention:
The journey of Lockerbones started when Greg’s daughter, Ashley, began middle school and struggled with keeping her locker organized. Frustrated by the lack of effective solutions on the market, Greg took it upon himself to create a better system. He spent two years refining the design and functionality of Lockerbones, ensuring that it met the needs of students and surpassed their expectations.
Once Greg had developed and patented the product, he realized the importance of having a business partner who could provide expertise in marketing, sales, and general business operations. That’s when Steve Coachys joined the team as a co-founder, bringing a wealth of knowledge and experience to help propel Lockerbones to success.
Together, Greg and Steve have transformed Lockerbones from a simple idea to a highly sought-after locker organization solution. Their dedication, ingenuity, and shared vision have been instrumental in growing the company and making Lockerbones a trusted name in the market.
| Lockerbones Founders | Background |
|---|---|
| Greg Cronin | Former builder and contractor |
| Steve Coachys | Medical director |
Lockerbones Shark Tank Deal and Impact
After a successful pitch on Shark Tank, Greg and Steve accepted an offer that would propel Lockerbones to new heights. Lori Greiner and Robert Herjavec saw the potential in Lockerbones and made a game-changing deal – a $175,000 investment in exchange for 50% equity in the company.
This deal not only provided the necessary capital for Lockerbones to grow and expand, but it also brought invaluable expertise and resources to the table. Lori Greiner, known as the “Queen of QVC,” has extensive experience in product development and marketing, which has undoubtedly contributed to Lockerbones’ success. Meanwhile, Robert Herjavec, a renowned entrepreneur and investor, added his strategic insights and business acumen to help navigate the competitive landscape.
“The partnership with Lori Greiner and Robert Herjavec has been a turning point for Lockerbones,” says Greg Cronin, co-founder of Lockerbones. “Their investment and guidance have allowed us to scale our operations and reach a broader audience.”
The exposure from appearing on Shark Tank, combined with the backing of two esteemed Sharks, has been instrumental in Lockerbones’ growth and impact in the locker organization industry. With their support, Lockerbones has been able to increase brand awareness, expand distribution channels, and enhance product development.
Furthermore, the credibility and validation of securing a deal on a nationally recognized platform like Shark Tank has opened doors for future partnerships and collaborations. It has positioned Lockerbones as a trusted and innovative brand in the market, attracting attention from retailers and customers alike.
The Impact of the Lockerbones Shark Tank Deal
The Lockerbones Shark Tank deal with Lori Greiner and Robert Herjavec has had a transformative effect on the company’s trajectory. Here are some key outcomes:
- Access to capital: The $175,000 investment provided the financial resources needed to fuel Lockerbones’ growth initiatives, including marketing, production, and inventory expansion.
- Expert guidance: Lori Greiner and Robert Herjavec brought their wealth of experience and industry knowledge to the table, offering valuable insights and mentorship to the Lockerbones team.
- Expanded distribution: Through their network and connections, the Sharks helped secure partnerships with retailers and online platforms, allowing Lockerbones to reach a wider audience.
- Enhanced brand recognition: The Shark Tank exposure and association with Lori Greiner and Robert Herjavec elevated Lockerbones’ brand identity, establishing it as a reputable and sought-after solution in the locker organization space.
The Lockerbones Shark Tank deal continues to have a lasting impact on the company’s success, paving the way for a bright future in the organizational products market.
| Key Benefits of the Lockerbones Shark Tank Deal | Impact |
|---|---|
| Financial investment | Provided capital for growth and expansion |
| Strategic guidance | Benefited from the expertise of Lori Greiner and Robert Herjavec |
| Partnerships and distribution | Expanded reach through collaborations with retailers and online platforms |
| Brand recognition | Elevated brand identity and credibility in the market |
Lockerbones Future and Availability
Looking towards the future, Lockerbones is poised to continue its success in the locker organization market. With an estimated net worth of $2 million as of 2023, the company has established itself as a leader in providing effective solutions for students and individuals seeking to organize their lockers and storage spaces.
While the product is no longer available on Staples’ website, customers can still find Lockerbones on Amazon and the company’s official website. This ensures that individuals can easily access and purchase this innovative organizational tool to simplify their lives.
Lockerbones’ presence on Amazon also highlights its commitment to meeting the needs of a wide range of customers across the United States. With Amazon’s extensive reach and efficient delivery system, individuals can conveniently order Lockerbones and have it delivered right to their doorstep.
FAQ
What is Lockerbones?
Lockerbones is a highly effective tool for organizing lockers. It features customizable vertical dividers and small shelves and is available in wood or plastic. The plastic versions come in royal blue, hot pink, and black, and there is a half-height variation for smaller lockers.
Who are the founders of Lockerbones?
Lockerbones was created by Greg Cronin, a former builder and contractor, and Steve Coachys, a medical director.
What happened during Lockerbones’ Shark Tank pitch?
During their appearance on Shark Tank, Greg and Steve showcased a disorganized locker and explained how Lockerbones could solve the problem of disorganization among students. They received offers from multiple Sharks but ultimately accepted Lori Greiner and Robert Herjavec’s offer of 5,000 for 50% equity.
What is Lockerbones’ net worth and success?
As of 2023, Lockerbones has an estimated net worth of million. The company has experienced significant growth and success since its appearance on Shark Tank.
Are there any competitors for Lockerbones in the locker organization market?
There are no identified competitors for Lockerbones in the locker organization market. The product offers a unique and customizable solution.
What are Lockerbones’ updates and partnerships?
After their appearance on Shark Tank, Lockerbones received attention and opportunities for partnerships. They collaborated with Staples for their Back to School program, which helped boost the company’s visibility and sales.
Who are the founders of Lockerbones and what is their background?
Lockerbones was founded by Greg Cronin, a former builder and contractor, and Steve Coachys, a medical director.
What was Lockerbones’ deal on Shark Tank and its impact?
Lori Greiner and Robert Herjavec offered 5,000 for 50% equity in Lockerbones, which helped the company gain traction and expand its market reach.
What is the future of Lockerbones and its availability?
Lockerbones is still in operation with an estimated net worth of million. While the product is no longer available on Staples’ website, it can still be found on Amazon and the company’s website.
ncG1vNJzZmiykZi3sLTNrKanZpOkunC4zpyinqqSpLumv4ysn5qqm2LBorrKaA%3D%3D