Entrepreneur Lerin Lockwood took her firm, Lion Latch, and its merchandise, to the sharks on ABC’s”Shark Tank” to see if she may get one of many buyers to put money into the corporate through the season 13 premiere.
According to the episode synopsis, “a highschool artwork instructor from Burnet, Texas, introduces the Sharks to her handy and protected approach to retailer jewellery when on the go.”
The entrepreneur was in a position to pitch their firm to Sharks Mark Cuban, Barbara Corcoran, Kevin O’Leary, Lori Greiner and visitor Shark Emma Grede.
Here’s what you must learn about Uprising on “Shark Tank”:
1. Lion Latch Is a Jewelry Box
Lion Latch could sound like a foolish trinket, however it’s really a jewellery field meant to carry onto valuables and preserve them protected when individuals have to take them off or put issues down.
The product concept took place when Lerin Lockwood bent her engagement ring and utterly ruined it after sporting the ring whereas teaching softball. One of the stones within the ring fell out, and it was bent.
“We by no means needed to have that feeling once more, so I started to search for locations to maintain my ring after I could not put on it,” Lockwood writes on the web site.
She says that she tried to place them in her purse or pockets, however that felt unsafe.
2. The Product Was Invented to Protect the Founder’s Rings
According to the corporate’s web site, the product was invented by Lockwood when she wanted a protected place to place her rings through the day when she didn’t need to scratch or lose them. Lockwood is a highschool artwork instructor and coaches sports activities.
“I take advantage of my arms a LOT all through the day and since I’m so lively, I’ve a number of events the place I’ve to take off my wedding ceremony rings and different small jewellery,” the web site reads. “When I’m within the weight room, on the sphere or on the courts, I’ve to take my rings off to keep away from scratching or bending them.”
She additionally writes that she takes them off when educating artwork and dealing with clay on the pottery wheel.
3. It Is Billed As a Good Gift
The Lion Latch is the proper present for lecturers, nurses, athletes, and extra, in keeping with the corporate’s web site.
One kind of one who may use the Lion Latch usually, the web site says, are touring lovers.
“It may also retailer far more than small jewellery: Vitamins, interior ear listening to aids, misplaced enamel and even cash,” the location reads. “Any tiny valuables you wouldn’t need to lose in your purse or pocket.”
4. The Company Got Its Original Funding on Kickstarter
The Lion Latch was funded initially by a Kickstarter marketing campaign again in 2015.
Overall, the marketing campaign raised $14,592 based mostly on contributions by 225 backers. The product was anticipated to ship in November 2015, although from the replace web page, it seems they really shipped a month later than anticipated.
The product has modified since its time on Kickstarter, nonetheless.
The purpose the Lion Latch is exclusive as a result of as an alternative of screwing shut, the ring on the high of the product is definitely what latches the product, which means when it’s closed and locked, it can’t be opened with out removing of the ring. There is an educational video on-line to show how precisely the latch works.
5. The Lion Latch Can Be Purchased Online
The Lion Latch is available in a wide range of colours together with blue, fluorescent yellow and pink. The product might be bought on-line in a ten pack for $104, a 5 pack for $49.96 or a 3 pack for $29.95.
If just one Lion Latch is required, it may be bought for $9.95 from the corporate’s web site.
“Shark Tank” airs on Fridays at 8 p.m. Eastern and Pacific time on ABC.