Lockstraps on Shark Tank: A bad experience turned into a good idea

Lockstraps will pitch on Sunday on Shark Tank. Pic credit: ABC/Mitch Haaseth

On Sunday’s episode of Shark Tank, viewers will be introduced to Jeff Cranny who will introduce his product, Lockstraps. Back in 2009, Cranny left his truck behind with his motorcycle and gear on it, only to find that it had been stolen when he returned a few minutes later.

His insurance company wouldn’t pay him after his claim. It was here that he got his idea for his lock-strap system, a way to tie down straps and make them secure to limit theft.

As he saw it, 90 percent of all theft is “see it, grab it, and run,” so creating a more secure strap system appeared to be the solution.

Back in 2010, he had a design and it would go through several redesigns up until 2014. The straps have a clasp with a lock on it, meaning the owner has to use a combination of numbers to unlock the strap.

The company’s website reveals that their mission is to develop innovative and quality lock systems that are needed in the marketplace. The idea is you can use it to secure tools, motorcycles, your bbq, aviation, marine, or power-sports equipment.

The Lockstraps product comes in different sizes and layouts, including a single strap and a double strap. They also come in lengths, such as 2.5 feet up to 24 feet. The prices range from $24.99 to $44.95, depending on the length.

You can also buy the products on Amazon. While the Sharks may see the market for trailers to be limited, Jeff may be able to expand their minds, including how anyone with any sort of valuable assets, including bikes or patio furniture, will have a need to secure it.

Shark Tank airs Sundays at 9/8c on ABC.

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