Shark Tank Update
Shark Tank Pitch
Lockerbones Shark Tank Update
Published:
3m
Clinton, MS
| Name | Lockerbones |
|---|---|
| Main Presenters | Stephan A. Coachys and Greg K. Cronin |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/25/2023 |
| Main Location | Clinton, MS Loading Map |
| Order Shown in Episode | 3 |
| Final Deal | Deal was made on the show with sharks Lori Greiner, Robert Herjavec for $175k for 50% of company. |
Lockerbones Shark Tank Pitch
Stephan A. Coachys and Greg K. Cronin found a solution for disorganized lockers at school. Lockerbones is a no tools needed locker insert that provides a structure to place items into a locker.
Stephan and Greg have a design patent on their wood-cutting designs. Mark sarcastically jokes about Stephan and Greg suing a bunch of 7th graders for doing in woodshop class. Greg was a general contractor and used his tools to create a locker organizer for his daughter. While she was initially hesitant to bring the wooden organizer to school, after her classmates wanted one, Greg sold 60 units.
Over two years, they have sold 500 units of the latest version. They put $28k into the tooling to produce the current version and plan to use the investment to purchase tooling necessary to produce the units in colored plastic, which is cheaper and more desirable for retail stores like Staples, whom they plan to sell to.
While some sharks question Stephan and Greg's initial sales approach and go out, Robert and Lori are interested and make an offer together. Stephan and Greg waste no time on a strung-out back-and-forth argument and accept the offer happily.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $175k for 10% of company | |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Kevin O'Leary | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Deal | Lori Greiner, Robert Herjavec | $175k for 50% of company |
Mark Cuban
Out
Barbara Corcoran
Out
Kevin O'Leary
Out
Lori Greiner
Made Deal
Robert Herjavec
Made Deal
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Lockerbones After Shark Tank
According to staples.com https://www.staples.com/sbd/cre/tech-services/explore-tips-and-advice/tech-articles/you-dont-need-a-shark-to-find-financing-for-your-small-business-2.html, Greg Cronin was a serial entrepreneur, who owned a lawn care business, a real estate company, a bowling alley, and a racquet club, to name a few of his ventures. Greg didn't build Lockerbones with the intent of building a business, it just occurred out of demand.Link Preview
staples.com
Greg teamed up with the father, Steve Coachys, of one of the kids at the school who wanted a locker organizer. Together they utilized local inventor opportunities to produce Lockerbones, win some money for the business, and earn local press.
According to a 2014 article by prweb.com https://www.prweb.com/releases/2014/01/prweb11506256.htm, Greg confirmed that he had been in continuous contact with the Sharks since filming, and they did finalize the deal. They had nearly 1 million hits to their website during the Shark Tank airing. Greg received a call from Staples three days after appearing on Shark Tank and became the most significant springboard for Lockerbones' growth.Link Preview
prweb.com
In 2021, Greg ran for Mayor of Clinton, Mississippi as an Independent. According to clintonms.org https://www.clintonms.org/departments/business/administration/election https://gregcroninmayor.com https://www.linkedin.com/in/greg-cronin-5a468238/details/experience, Greg received 1749 votes but lost to a Republican who received 2619 votes. Greg posted some campaign videos on his campaign website, gregcroninmayor.com Link Preview
clintonms.org . According to Greg's LinkedIn Link Preview
gregcroninmayor.com , he is involved in real estate in 2023. Link Preview
LinkedIn
According to Stephan A. Coachys' LinkedIn https://www.linkedin.com/in/stephen-coachys-653a9822, he is a practicing Doctor in Mississippi as of 2023 and has been since before going on Shark Tank.Link Preview
LinkedIn
As of 2023, Lockerbones appears to be available on its website, lockerbones.com https://lockerbones.com https://a.co/d/by5jdrZ https://www.facebook.com/LockerBones and on Amazon Link Preview
lockerbones.com although sales seem to be low. The social media pages, such as their Facebook Link Preview
Amazon , have rarely posted since 2014 and as of 2023 the last post was in 2018.Link Preview
Facebook
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