It’s never too late to start a business, and Bob Legg proved that when the 82-year-old entrepreneur pitched on Shark Tank Season 15.
Bob and his business partner Keith Lindsey are the founders of Air Boss Outdoors, a company that manufactures products for hunting and outdoors.
Their flagship product is called the Krapp Strapp, and is designed to help hunters and outdoorsmen “do the deuce” while outside.
“You just simply attach it around your waist, attach it to a strong structure like a tree… and you simply lean back, squat down, and relieve yourself,” Lindsey told the sharks.
To demonstrate how it works, Bob and Lindsey invited Mark Cuban to test it out. Sure enough, it worked great and Mark even mentioned that it was comfortable and easy to use.
Bob and Keith told the sharks that they needed a partner that could help them with social media and advertising. “We have tried some of that and failed,” Linsey told the sharks.
They came into
Even better, a Krapp Strapp only costs $17, which leaves a nice profit margin.
All of this was enough to interest Lori Greiner and Daymond John, who made an offer of 65,000 for 35% equity.
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Daymond felt that he would be a good partner because he is the only shark that’s an avid outdoorsmen. And Lori knows the niche well, as she previously invested in another
Bob has been around long enough to know that you can’t take the first deal on the table, and was able to negotiate them down to 33.3% for $65,000.
With a deal on
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!