Lock Straps are a new take on the tie down. Tie downs are straps that allow you to keep things attached to your roof rack, truck bed or trailer tightly so they don't move around. They work great for securing things, but they don't keep them secure. Inventor Jeff Cranny found that out the hard way. He returned to his truck one day to find his motorcycle, which was tied to his truck bed with regular tie-downs, had been stolen. That's when he got the idea for Lock Straps.
Lock Straps are a lot like regular tie-downs but with two big differences. Inside the heavy duty nylon strap, there's a steel cable which can't be cut with a knife like regular tie-downs. The other innovation is, instead of an “S” hook, there's a locking carabiner clip to secure the cargo. This makes it very difficult for an opportunistic thief to quickly make off with anything.
Cranny markets heavily to the motorcycle crowd. In fact, he makes a small version of LockStraps to lock a helmet and/or jacket to a parked motorcycle. Besides motorcycles, Lock Straps are good for contractors. Ladders stored on roof racks get stolen all the time when they're tied down with regular straps. Anyone who travels with a canoe or kayak on the roof doesn't want to come out of a rest stop to find their boat gone either. Since they're not that much more expensive than a quality tie- down (the most expensive one is $45) and they protect things that cost a lot more, many people buy them.
Cranny sells Lock Straps on Amazon, his own website, and through dozens of retail outlets including Home Depot and Cabella's. The business has been running for about eight years now and the product was redesigned several times. Sales are good, but Cranny still wants a Shark to strap 'em on and help him out.
My Take on Lock Straps
I used to own a duct cleaning business and I carried ladders on my van's roof rack. They were secured with regular tie-downs. Imagine my dismay when they were gone one morning when i went out to my van! Several hundred bucks worth of ladders were stolen out of my own driveway. The only thing left was the ties downs that were obviously cut with a knife.
I own a bunch of tie-downs for transporting kayaks on my roof rack. While I don't leave them on there all the time, Lock Straps would ease my mind if they were up there while enjoying a post paddle lunch somewhere. It's a sad commentary on society that we feel the need to lock up everything everywhere we go, but that's the way it is. I can see myself procuring a couple of Lock Straps in the near future. I'm in.
Will Sharks Lock up a Deal?
Since this business isn't new, it must have sales. It certainly is in a lot of stores I regularly shop in – including the two mentioned above, but I've never seen it before. Maybe I wasn't looking or maybe Cranny has some marketing issues he wants a Shark's help with.
If debt is a problem, he won't get a good” offer from a Shark. Kevin O'Leary often bids on businesses with debt, but he takes a big chunk of the business. Other than (potential) debt and marketing, I can't see any challenges Cranny faces with LockStraps. If it's been around eight years, he must be making some money. If he is, he may see an offer.