LockerBones is a company that was featured on Shark Tank. LockerBones is a product that helps to organize and store items in a locker. The product is made of wood and can be stacked to create more space in a locker. A father created LockerBones for his teenage girls looking for a way to organize their lockers.
LockerBones is a locker storage system that was featured on Shark Tank. The system comprises modular storage units that can be stacked and connected to create a custom storage solution for any space.
LockerBones was created by two friends who needed a better way to store and organize their belongings. They set out to create a system that was modular, customizable, and easy to use.
After a successful launch on Kickstarter, LockerBones was featured on Shark Tank, where they secured an investment from Mark Cuban.
LockerBones is the perfect solution for anyone looking for a better way to organize their belongings. The modular design allows you to create a custom storage solution that fits your needs.
LockerBones is a product designed to help students organize their school lockers efficiently. It is a customizable shelving system made of lightweight, durable plastic material that can be easily installed in a standard school locker.
The product was created by Greg Cronin and Stephen Coachys, a middle school teacher who noticed that students often struggled to keep their lockers organized.
LockerBones appeared on Season 5, Episode 14 of Shark Tank’s television show in January 2014. During their pitch, Greg Cronin and his business partner, Steve Coach, sought a $175,000 investment in exchange for 10% equity in their company.
Shark Lori Greiner saw the potential in the product and made a deal with the entrepreneurs, offering the requested $175,000 for a 50% stake in the company.
After their appearance on Shark Tank, LockerBones experienced increased sales and gained exposure in the market. The product was available for purchase through various online retailers.
What is LockerBones?
LockerBones is a new way to keep your belongings safe and secure. It’s a great solution for anyone who has ever lost their keys, had their wallet stolen, or had their phone lost or stolen.
LockerBones is a small, lightweight, and durable device that you can attach to your clothes, bag, or keychain. It has a strong adhesive backing to hold it in place, even in the toughest conditions.
LockerBones is also water and weatherproof, so you don’t have to worry about getting wet or dirty. They wanted to create a product to help people keep their things safe and secure without worrying about them. LockerBones was born after much research.
You can purchase LockerBones on their website or in stores as soon as they become available. The team is also working on a mobile app allowing you to track your belongings and receive notifications if they are lost or stolen.
LockerBones is a great solution for anyone who wants to keep their belongings safe and secure. It’s small, lightweight, and durable, and it has a strong adhesive backing that will hold it in place, even through the toughest conditions. LockerBones is also water and weatherproof, so you don’t have to worry about getting wet or dirty.
The LockerBones Locker Organization System is designed to assist students with keeping their lockers organized. There are two sides to the regular LockerBones two full shelves, a vertical divider, and two 6″ shelves. The LockerBones Deluxe version has an additional complete shelf, a vertical divider, and a shelf measuring 6 inches.
The flexibility of LockerBones enables students to customize it to fit the needs of almost any class. You can use a divider for papers and folders, another for large books, a cubby for the mobile phone, and a final one for pencils, calculators, and any other supplies the children may need. LockerBones technology allows students to create up to seven distinct compartments in their lockers.
It is also easy to install. LockerBones uses a track system that is completely customizable to fit any locker in a school. You don’t need any tools. It is the system as a whole that supports itself. The locker does not need to be attached, which is good news for the school administration. LockerBones are just as easy to remove as they are to install.
|Entrepreneur||Greg Cronin and Stephen Coachys|
|Product / Business||Locker shelving and organizer system that can be customized|
|Investment Asking For||$175,000 for 10% equity in LockerBones|
|Final Deal||$175,000 for 50% equity in LockerBones|
|Shark||Lori Greiner and Robert Herjavec|
|Episode||Season 5, Episode 14|
|Business Status||Out of Business|
Who is the Founder of LockerBones?
Greg Cronin and Stephen Coachys are the founders of LockerBones. LockerBones is an adaptable shelving system created primarily for locker organization.
Greg Cronin developed a prototype for his adolescent daughter Ashley, who lives in Clinton, Mississippi.
LockerBone is an organizer for lockers. It is the best shelving system for school lockers, decluttering, and arranging any cabinet area.
The LockerBones locker system is designed to fit lockers of varying sizes. They offer instructional videos on their website that explain how to install it quickly and easily without using any tools.
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LockerBones has patent-protected adjustable tracks. Some vertical dividers and mini-shelves contribute to the customization of the product. Additional shelving is also offered. The device is offered in wood (the more affordable choice), black plastic, and hot pink plastic.
Shark Tank featured Cronin and his business partner Steve Coachys presenting LockerBones in 2014. They requested $175,000 in exchange for 10 percent equity in the Tank.
LockerBones Before Shark Tank
As an 11-year-old self-proclaimed skater and surfer, Carson Kropel entered Shark Tank with a solution for school transportation. Skateboarding was Carson’s favorite way to get to school, but he could not store his boards during class.
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He designed LockerBoard to solve this issue, a skateboard that fits in a backpack and a locker. We’ll let you know if the sharks considered this a solution to a problem or merely a Season 9 gimmick by reviewing the Shark Tank LockerBoard.
LockerBones Shark Tank Recap
Greg Cronin and Stephen Coachys appeared on Shark Tank requesting an investment of $175,000 in exchange for a 10% equity in LockerBones. Greg starts the pitch by demonstrating and explaining the product.
Greg shows the need for LockerBones by pointing to a monitor that shows a filthy school locker. Disorganitus leads to lost assignments, delinquency, and failing grades. LockerBones, a system Steven created for organizing disorganized patients, is his solution to disorganization.
LockerBones eliminates trash and reduces stress while being the greatest! Steven and Greg can manufacture LockerBones with the help of the Sharks.
Greg wants to show how LockerBones works by taking it from its locker. After disassembling LockerBones, Steven reports it takes 30 seconds to assemble without tools.
There is a single LockerBone for $29.99 and a double LockerBone for $39.95. The double LockerBone is twice as big as the single. Greg has completed the removal of the LockerBones, which were shelf guides.
LockerBones are patent-protected as well. You must place the two sides and one piece between the guidelines to assemble the board. LockerBones is the first locker organization system with a vertical folder separator.
LockerBones can be divided vertically. LockerBones has a “nook and cranny” that divides a half part into 14 sections.
Greg describes how LockerBones originated, adding that his daughter began middle school four years ago.
Greg developed a prototype of LockerBones to compensate for her feeling overwhelmed and messy, which would become the first sign of the product’s existence. Greg, a contractor and developer, helped develop the LockerBones prototype.
He complained to his daughter the next morning that it was awful, and she wouldn’t take it to school. When the two looked at the merchandise for the first time in school, two females asked about it.
Greg began selling modest LockerBones, but ultimately the district organizational director, who checks all lockers, called him and said he loved the product.
A director ordered 60 tests immediately. Robert asks them how long they’ve been selling since they’ve sold 500 pieces. Greg claims they’ve been selling for 2 years, which deflates the Sharks’ enthusiasm about LockerBones.
Steven says they’ve come to the Shark Tank to make plastic LockerBones. Greg tells Lori they spent $28,000 on tools for the wooden LockerBones, but Mark thinks the project flopped.
Kevin says LockerBones failed because of poor distribution. Greg claims that the LockerBones was meant to fail because it was a prototype and lacked strut support.
Two years ago, the pair came up with the idea, and in July 2011, they filed a patent after the airing of the episode (2013) have got their sought patent. LockerBones was launched only last year, so the Sharks are confused by the original narrative.
Greg believes that major shops appreciate the product in plastic but not the shape. Amazon will complete a 10,000-unit purchase arranged by the two companies. The wooden version is fine with Amazon; the contract has been switched. Greg claims they lack the funds to launch the deal and manufacturing.
Greg and Steven reveal they never called Staples, which sells 30% of school supplies, when Kevin asks about them. Kevin cries, “Nooo, Nooo!” while the Sharks are speechless.
Greg explains that he let the product stay in one pilot school for a reason, but the Sharks won’t listen; even Kevin says, “You’re dead to me,” but much harsher. All the Sharks are upset, and the scene dissolves into pandemonium.
The show cuts to a commercial break before returning to Greg being criticized for not wanting to sell. He never called Staples and showed no sign of trying to sell the product; he left it at a pilot school.
Greg insists that the wood design patent is weak and needs plastic to build a stronger product. Steven says Office Depot would want the merchandise, but Kevin says they never phoned.
Lori wants to nail down the product since it can make a big difference. She claims Amazon will buy an upfront amount of units and offers a price.
Greg and Steven will receive payment later as distribution begins as Amazon acquires and ships the merchandise. Despite Greg’s inability to describe it, this is a distribution arrangement.
Robert asks what happens if no LockerBones are sold, and Greg replies they’ll have to buy them back. Mark clarifies that this is a “consignment offer,” not a distribution arrangement.
Robert enjoys the proof of concept but feels like they’re just starting the product’s evolution. He doesn’t think it’s worth $1.75 million as a growing company.
Despite the various schools, he wants to know if the $175,000 will get the goods into Staples. With the money, Steven believes he can start creating plastic and colored sets, establish inventory for Amazon, and send purchase orders.
Mark says the couple has killed it in schools because kids adore it, but there’s no thought of selling to 110,000 schools at a reasonable price. Mark believes the duo is “living in the dream, not the green” and is the first Shark to go.
Kevin says the pair only has to sell 10% of their product to New York and California. Kevin leaves the deal since they didn’t discuss getting their product into schools.
Barb believes the two are on the right track but lost their best opportunity to strike a low price. At $29.99 for a single unit, it will be hard for her to revitalize the product.
Robert argues consigning to Amazon is crazy, given Staples owns 30% of the school market. Therefore, he won’t do the transaction on his own.
He thinks Lori is intrigued, so he offers $87,500 for 25% and says she’ll copy him. LockerBones is a start-up, he says, and the two require supervision. Lori accepts Robert’s offer to split LockerBones for $175,000.
Lori and Robert are investing $175,000 in LockerBones with two Sharks.
Final Deal: Lori Greiner and Robert Herjavec agreed to invest $175,000 for a 50% stake in LockerBones.
What Happened to LockerBones after Shark Tank?
LockerBones’ website received 3.2 million visits in just three weeks after appearing on Shark Tank. Staples called Cronin three days after the LockerBones episode aired and offered to be part of their Back to School program.
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Despite Shark Tank’s success, Cronin said that Staples had advanced us faster and further than the sharks could. LockerBones has not been active online since 2014, and the product is no longer sold on the Staples website. However, it’s available on Amazon.
LockerBones Shark Tank Update
The popularity of LockerBones has soared. When I conduct a Google search, multiple retailers and suggested purchases appear. LockerBones is doing incredibly well because of the combination of the product’s inherent success and the “Shark Tank” element.
Unfortunately, I could not locate any actual sales, although it is likely that LockerBones will be included in a Shark Tank episode update. However, LockerBones is thriving and dominating its market.
Is LockerBones Still in Business?
It seems LockerBones is out of business as of 2023. The website of LockerBones has been down for a while and even stopped posting on social media since September 2018.
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After LockerBones appeared on Shark Tank in January 2014, the product and its creators, Greg Cronin and Steve Coach, gained significant exposure, leading to increased sales. They partnered with Lori Greiner and Robert Herjavec, who invested $175,000 for a 50% stake in the company.
Following the show, Lori Greiner and her team worked with the LockerBones founders to improve the product’s design, manufacturing, and distribution.
The product was rebranded as “LockerWorks,” The updated design was made of a more durable fabric than the original plastic version.
LockerWorks continued to provide customizable organization solutions for school lockers with features like adjustable shelves, side pockets, and sturdy construction.
The product was made available through various online retailers, including Amazon and the LockerWorks website. It was also introduced to brick-and-mortar retail stores like Staples and other office supply stores.
What is the Net Worth of LockerBones?
The valuation of LockerBones was $1.75 million when it appeared on Shark Tank. The net worth of LockerBones is unknown as of 2023 since the company seems out of business.