Startups are all about creating innovative solutions for challenging problems. In the Stephey household, that meant finding a way to keep husband and father Adam from spending too much time in the bathroom.
The answer? The Toilet Timer: a device Adam Stephey created in 2017 that functions as a five-minute sand timer to encourage you to finish your business in a timely manner. What started as a gag gift took off on Amazon in 2019, and caught the eye of Shark Tank producers.
On Dec. 4, Adam and wife Katie, who live in Normal, Illinois, appeared on the hit ABC show to strike a deal for their gimmicky bathroom device. And under the brights lights of the Shark Tank stage, it was time to pitch or get off the pot.
“Oh hell no,” Mark Cuban initially said as Adam began explaining the Toilet Timer to the sharks, who were by and large uninterested in backing the Toilet Timer. But the Stephey's had one thing on their side: sales.
The Toilet Time did almost $300,000 in sales in 2019 thanks in large part to Amazon users who were searching for stocking stuffers for men and regularly buying the Toilet Timer. Amazon's algorithm recognized the product was a hit, and started suggesting the product to more users. In 2020, the Toilet Timer will do more than $1 million in sales, Adam told Chicago Inno in an interview.
"It's a funny little gift," Adam said. "It sends a message. There's an emotional response with it. It's just proven popular."
"The gift giver enjoys giving it I think more than the recipient enjoys receiving it," added Katie.
The sales traction was enough to pique Cuban's interest. The company was asking for a $200,000 investment for 10%, and Cuban countered with $200,000 for 25%, which Adam and Katie accepted.
Normally, Shark Tank contestants seal the deal with a handshake or hug with their celebrity investor, but with this episode filmed in August, during the middle of the Covid-19 pandemic, entrepreneurs and the sharks kept their distance.
"We had a thumbs up from Mark from about 30 feet away," Adam said.
The Toilet Timer has two busy selling seasons: Father's Day and Christmas, Adam explained. The Shark Tank appearance also created a huge demand for the product, with the company selling out of its entire inventory the night the episode aired. The device sells under Adam's umbrella company Katamco, which also offers a retro video game cleaning kit.
Adam said the deal with Cuban has yet to officially close. They're currently finalizing the deal with Cuban's company, and Adam expects the deal to close by early 2021.
He and Katie believe the Toilet Timer has staying power beyond the current Shark Tank bump, and they think the device can be a stocking stuffer for years to come.
"My goal for it is 20 years from now, people will say, 'Oh, do you remember that Toilet Timer? That thing was so silly and they were everywhere!’ This silly thing can become part of our cultural narrative, honestly," Adam said.
