Lockstraps, a retail product, was started by Jeff Cranny in 2009. As of March, 2024, Lockstrap’s net worth is around $4 million, and they’re pulling in a whopping $4.7 million in annual revenue.
On November 25, 2018, they appeared on Season 10 of Shark Tank USA, seeking $200,000 for 20% equity valuing the company at $1 million. But the Sharks were interested in something other than investing in Lockstraps. After Jeff Cranny talked about his product in his presentation, he had terrible news to tell the sharks. Hence, all the Sharks went out without any deal.
The company is still in business. You can purchase products on e-commerce channels such as their website and Amazon.
Lockstraps Net Worth
| Net worth | $4 million (2024) |
| Annual Sales Revenue | $4.7 million (2023) |
| Profits | – |
| Lifetime sales | $135K (By 2018) |
| Investor | None |
| Founder | Jeff Cranny |
| Employees | 1-10 employees |
Lockstraps Net Worth Timeline
| Net Worth 2024 | $4 million |
| Net Worth 2023 | $4 million |
| Net Worth 2022 | $4 million |
| Net worth valuation 2018 before appearing on Shark Tank | $1 million |
Lockstraps Pitch on Shark Tank
| Company name | Lockstraps |
| Product | Locking tie-down straps |
| Episode | Season 10 Episode 06 |
| Founder | Jeff Cranny |
| Asked for | $200,000 for 20% equity |
| Final deal | No Deal |
| Shark | N/A |
| Location | Temecula, California |
Don’t miss these product from Season 10
Lockstraps Founder
Lockstraps was founded by Jeff Cranny in 2009. Jeff lost his bike in 2009 because the regular strap was easy for thieves to break. This inspired him to create the Lock Strap. Lockstraps’s founder, Jeff Cranny’s net worth is unavailable. However the company’s net worth as of 2024 is $4 million. One of the main worth of the Jeff Cranny is Lockstraps. Therefore should have more than $4 million net worth as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2010 | Since 2010, there have been about 4 or 5 different versions of the LockStrap |
| 2018 | The company appeared on Shark Tank Season 10 |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Lockstraps and its continued success.
