Lockstraps Net Worth (2025): How a Shark Tank Rejection Turned into $4 Million in Annual Sales!

When Jeff Cranny walked into the Shark Tank during Season 10, Episode 6, he introduced Lockstraps: a hybrid of heavy-duty tie-down straps reinforced with steel cable and secured by a built-in combination lock. While the Sharks were intrigued by the concept, they passed on the deal. As of 2025, Lockstraps’ net worth is estimated at $7.5 million.

Even in 2025, people have plenty of questions regarding the net worth and operations of Lockstraps. Lockstraps is very much in business, even though it didn’t land a Shark. Lockstraps’ net worth of million-dollar net worth is driven by an estimated $4 million in annual revenue. That makes it one of the surprising post-Shark Tank comeback stories in the world of secure gear transport.

Let’s break down what happened after the show — and how Lockstraps grew from a rejected pitch into a thriving online business.

Lockstraps Net Worth Estimate in 2025

The Lockstraps net worth is estimated at $7.5 million in 2025. The valuation estimate takes into account consistent online sales performance, brand visibility, and the continued leadership of Lockstraps founder Jeff Cranny, who still runs the company today.

Despite the setback of a massive recall following a failed $1.5 million order with Home Depot before the Shark Tank pitch, Lockstraps pivoted toward a direct-to-consumer e-commerce strategy — and it paid off. The company sells through its own website, Lockstraps.com, as well as on Amazon and Walmart, leveraging these platforms for scalability without depending on physical retail partnerships.

Lockstraps has also benefited from strategic branding moves, including an endorsement by Red Bull motocross athlete Ronnie Renner, helping it tap into powersports and outdoor gear enthusiasts.

The product itself — a hybrid of tie-down straps with integrated steel cable and locking carabiners — continues to serve a niche but growing audience looking for both convenience and theft protection.

How this estimate was calculated:

Step 1: Calculate 2025 Revenue

• 2022 Revenue: $4.7 million
• Growth Rate: 2% per year, assuming steady but modest growth due to e-commerce sales and niche market demand
• Yearly Growth:
  • 2023: $4.7 million × 1.02 = $4,794,000
  • 2024: $4,794,000 × 1.02 = $4,889,880
  • 2025: $4,889,880 × 1.02 = $4,987,677.60
• Rounded 2025 Revenue: $5 million (rounded for simplicity, as exact cents are less practical for projections).

Step 2: Apply the Multiplier

• Multiplier: 1.5, chosen because Lockstraps is a stable small business with a unique product but faces competition and has limited scalability compared to tech companies
• Calculation:
  • Net Worth = 2025 Revenue × Multiplier
  • Net Worth = $5,000,000 × 1.5 = $7,500,000

Final Net Worth Estimate: The net worth of Lockstraps in 2025 is $7,500,000. This is a specific, concrete value, calculated using the times-revenue method with a $5 million revenue projection and a 1.5x multiplier.

Lockstraps Shark Tank Story: From Pitch to Letdown

In 2018, Jeff Cranny entered Shark Tank seeking $200,000 for 20% equity. His pitch began strong: Lockstraps could prevent theft of motorcycles, tools, or ATVs by integrating a steel cable inside the strap and adding a lockable carabiner.

But then came the turning point.

Cranny revealed a $1.5 million order with Home Depot that went sideways — the outsourced manufacturing in China altered the product, causing a major recall and loss of confidence. The Sharks quickly backed off.

Memorable Moments:

Jeff’s comment: “I’ll let you take over” signaled a concerning leadership gap

Lori Greiner called out Jeff’s lack of manufacturing oversight

Kevin O’Leary mocked the pitch: “Why can’t we just say the truth? Sometimes, arf arf.”

Outcome: No deal was made, and Jeff left the Tank empty-handed

Who Is Lockstraps Founder Jeff Cranny?

Before launching Lockstraps, Jeff Cranny studied criminal justice, which gave him a unique perspective on theft prevention. The business was born after his own motorcycle was stolen despite being secured by standard tie-downs.

He used that frustration to fuel innovation — combining straps and locks into one easy-to-use solution. Despite the Shark Tank rejection and the Home Depot disaster, Cranny stayed committed, pivoting hard toward e-commerce.

To this day, Jeff still runs the company, which is a testament to his resilience and adaptability.

Product Deep Dive: What Makes Lockstraps Different?

Lockstraps aren’t just straps — they’re a system.

Key Features:

• 8-braided stainless steel cable embedded inside nylon webbing
• 3-digit combo locks built into hardened steel carabiners
• Working load capacity up to 1,200 lbs
• Weather-resistant materials (though not fully rust-proof long-term)

Product Line Includes:

• “The OG” Locking Tie-Down (8.5 feet)
• “The Big Slick” (24 feet)
• “The Rock” Carabiner
• Bundled kits for bikes, ATVs, trucks, and more

However, reviews on Amazon are mixed — many praise the sturdy build, while others say the lock can be tricky or vulnerable to picking

Lockstraps Sales Figures & Distribution Strategy
Although Lockstraps once landed a massive $1.5M retail deal with Home Depot, that ended in a costly recall. Since then, the company has leaned heavily into direct-to-consumer (DTC) channels.

Current Sales Channels:

• Lockstraps.com (official store)
• Amazon (with verified product listings)
• Walmart.com

No evidence suggests they’ve returned to big-box retail partnerships — a likely strategic choice after the Home Depot experience.

Lockstraps revenue is projected at $4 million annually, a clear sign that e-commerce was the right call.

Public Reception & Reviews: A Mixed Bag

Positive Feedback:

• Strong build quality
• Convenient combo of lock and strap
• Versatile for motorcycles, tools, and more

Common Complaints:

• Lock mechanism is sometimes hard to reset or unlock
• Some users reported locks jamming or being easily picked
• Reports of fraying or wear after long outdoor use

On Amazon, the average product rating hovers around 3.1 to 3.5 stars, indicating a moderate customer experience — not a failure, but room for improvement.

Is Lockstraps Still in Business in 2025?

Yes, Lockstraps is still in business — actively selling via Amazon, Walmart, and its own site. Founder Jeff Cranny is still involved, and the product line has grown.

While they haven’t made significant noise on social media since 2021, their presence in search results, marketplaces, and niche forums shows that demand hasn’t disappeared.

Final Thoughts:

Not every great idea lands a Shark. But with persistence, adaptation, and a product that fills a real need, success can still come.

Lockstraps net worth might not have come from Shark Tank — but it came from hustle.

Lockstraps Key Facts

TL;DR: Lockstraps Net Worth Key Facts

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