The ability to turn a bad situation into a profitable business is one of the hallmarks of a true entrepreneur. In 2009, Jeff Cranny left his truck to do a quick errand and returned to find his motorcycle and gear GONE!

Ironically, perhaps, Jeff was in college majoring in criminal justice. After his insurance company denied the claim, he did some research, and “… discovered that there is an epidemic of thefts that go unreported to insurance companies due to the high cost of deductibles, and the fear of rising premiums.”

While shopping for some new tie down straps, the proverbial light bulb turned on in his mind. He knew that tie down straps were important and used primarily for securing a load so that it would not shift and cause damage. But he also knew that locks were necessary to deter theft. There are estimates that 90% of theft is “see it, grab it, and run.” If valuables appear difficult to steal, thieves will most likely move on to an easier target. What if there were a product that did both? Obviously that would simplify loading and securing his motorcycle or other equipment.

Jeff immediately began working on his idea and by August of 2010 had begun producing and marketing the initial design. Although Lockstraps went through several redesigns over the next four years, at the basic level, they are a combination of tie downs and locks. The straps contain an eight-bound steel cable running the full length inside the double nylon webbing and two carabiners with combination locks. The locking carabiners prevent the type of slippage and risk of detachment that often occur with the commonly used “S” hook.

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According to an article in Motorcycle USA on November 15, 2011, “The third generation Lockstraps carabiners incorporate thicker steel and have been heat treated for even more superior strength. They also increased the strength of the sliding clasp and push button spring.”
Lockstraps come backed with a 100% satisfaction guarantee and a 120-day parts and labor warranty. They can be purchased through the website, on Amazon and from a network of dealers worldwide. Lockstraps come in four versions:

  • A locking tie down strap, 8.5 feet long
  • A 24 foot universal cable/strap
  • A single locking carabiner, and
  • A 2 foot cable/strap for securing small items such as a helmet or jacket.

Even though he has a unique product that has been perfected over the years, as a successful entrepreneur, Jeff is always looking for ways to improve or widen the appeal of Lockstraps. For example, although they have had no complaints about slippage, his company is working on a ratchet strap as a response to consumer requests.

While the product was initially designed with motorcycles in mind, Lockstraps are useful in securing an unlimited number of items, such as bicycles, tools, landscaping equipment, luggage, planes and wheelchairs. “At Lockstraps,” Jeff says, “we have a saying, ‘A thousand uses and counting!’”

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Shark Tank Air Date: 11/25/18 – Season 10 – Episode 6

 

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