Lockerbones

From Shark Tank Season 05 Episode 14

Lockerbones got an investment from Lori Greiner, and Robert Herjavec


Lockerbones

Courtesy of lockerbones.com

2 Reasons to Love Lockerbones

1. A built-to-measure organization system for school lockers.

2. With a few pieces of wood (and no tools), you can easily outfit your kid's locker with a high-quality shelving system that will help them get organized and stay on schedule.

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Our Take

During segments like these, as a viewer you get a glimpse of why the Sharks are Sharks. 

Not because they take advantage of people (although they sometimes do). But because they can find a path through a flustered and excited entrepreneur's pitch and really find out what's going on. They know how to sniff out trouble, how to sniff out BS, and how to sniff out opportunity. 

It's not that Steven and Greg are bad entrepreneurs (although several of the Sharks did make that argument), but they got too excited talking about their product and trying to answer the millions of questions the Sharks were asking them. So it was hard to tell if they were covering something up, or if they were just a little green when it comes to entrepreneurship. 

Once the hub-bub calmed down, though, they were finally able to explain what their struggles have been and where they want to take the product from here. Either on the strength of their product, or the strength of their plan (though definitely not on the strength of their sales), they found a champion in Robert, who brought Lori in on a deal to take 50% of the company out of their hands in exchange for $175,000.

It looks like this product will have a bright future ahead of it, once they can figure out how to make it in plastic which will help bring the cost down. Until then, it will probably remain a niche product, although a very finely crafted and immensely helpful one.

Buy Lockerbones at Amazon.com →

The Entrepreneurs Behind Lockerbones

Greg Cronin & Steven Coachys


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