Squatty Potty found in 2011, a personal care company best known literally for its toilet stool for easier bowel movements. Mother-Son duo, Judy and Bobby Edwards, promoters of the company became multi-millionaires selling this plastic footrest.
This unusual innovation came about with Judy’s chronic constipation issues which got worse with age. A medical professional recommended Judy to elevate her knees while on the toilet. This simple solution gave some respite with her chronic issue. Bobby had a Eureka moment and took this opportunity to create and market this product locally which turned out to be a huge success.
The product was officially launched on their website in 2011. Online sales skyrocketed and this home grown business grossed over USD 1 million the first year and USD 2.7 million by the end of second year.
In late 2014, the mother and son duo appeared on Shark Tank and sold 10% stake to Lori Greiner at a valuation of USD 3.5 million. Their televised debut help boost their sales by USD 3 million just within 3 weeks after the episode was first aired. After their tie-up, they reported USD 15 million sales in 2015, and USD 33 million in 2017. Overall they sold goods worth USD 175 million since they aired on Shark Tank. By 2020, Squatty Potty partnered with 20 major retailers across the US and has presence in 20 countries across the world and growing.
Based on a YouTube video on Squatty Potty’s website, Judy who was keen to retire, sold her 45% stake in the company for an eight figure multi-million dollar deal.
You never know when an idea or opportunity strikes. A simple solution to a chronic problem led to innovation of a multi-million dollar company and not to undermine how it probably alleviated similar issues for millions of clients and continues to do so on an ongoing basis.
