'Shoot for the Top'

It's tough to call Craig Rapihana lazy, given he competes in triathlons, played professional rugby in England and built a 32-employee construction business in Colorado.
It's only his business that's lazy.

Lazy Bunz, that is. The Sarasota-based company sells a foam-based recreational water float-seat, shaped like a saddle, that it calls a safe, simple and comfortable alternative to a life jacket. It's hands-free, and allows a user to say upright in the water with feet floating.

“This is perfect for the boat,” says Rapihana. “We are giving people a product they love.”

That love goes deep: Sales have grown exponentially since Rapihana and his business partner, Sarasota financial adviser Chris Juall, launched the business in early 2013. Rapihana projects Lazy Bunz will surpass $500,000 in 2014 revenues. Rapihana currently works out of his car and home office, but he seeks a warehouse/office flex space in Sarasota to handle the growth.

Lazy Bunz are sold online and in several marine-themed retail stores, including 70 West Marine locations nationwide. It costs $40 for the base version, which comes Bahama Blue, Kiwi Green and Caribbean Coral. A model with a college logo of the University of Florida, Florida State or the University of Miami costs $45.

Rapihana is known to nearly everyone by his nickname, Kiwi. He comes to Sarasota and this venture via his native New Zealand, with a three-year stop in England and another stint in Aspen, Colo. In Colorado he ran a construction business, while in Florida he followed another life dream, to get into product pitches: Rapihana, 41, has a part-time guest host gig with St. Petersburg-based online and TV shopping giant HSN. He hasn't sold Lazy Bunz on the air, yet.

Lazy Bunz goes back to a night in 2012 when Juall and Rapihana chatted over beers. Both fans of the beach and boating, they talked about how the floating device they sought for, well, lazy days on the water, was a tough find.

“There were some big floats and small floats but nothing we wanted,” says Rapihana. “We thought there has to be a better way.”

Rapihana worked on a Lazy Bunz prototype for a few months. Then he found a manufacturer in Texas to build the products. He and Juall obtained a $50,000 loan from Synovus Bank for startup capital, and they also put a small amount of their own money into the business. Lazy Bunz debuted at a boat show in Fort Lauderdale in March 2013. Rapihana sold 300 at that show, which gave him confidence Lazy Bunz could be viable. He sold 400 a week later at a Sarasota boat show.

A long-term goal, says Rapihana, is to get Lazy Bunz in more marine-themed chains, such as Leslie's Swimming Pool Supplies. He also aims to grow a secondary revenue stream with what he calls the Lazy Lifestyle brand. That's items like shirts, hats and bumper stickers.

The early success of Lazy Bunz, beyond the product itself, can be traced back to two places. One is Rapihana's childhood in New Zealand, where he was entrepreneurial and curious. “I was always inventing and designing things,” says Rapihana. “I love creating things.”

A second factor is Rapihana's marketing approach, which skips subtle. He's traveled to New York City, for example, where he showed up at NBC Studios to see if the “Today Show” hosts wanted to give Lazy Bunz a whirl. (They didn't.) He's met with St. Petersburg-based product pitchman and original “Shark Tank” TV show judge Kevin Harrington. And he's met with fashion entrepreneur Daymond John, also of “Shark Tank.”

“My philosophy is to shoot for the top,” says Rapihana, “then come back down the ladder.”

Follow Mark Gordon on Twitter @markigordon