The tool industry is well known for providing innovative, professional quality tools and equipment to professional mechanics and enthusiasts. Profits have continued to grow because of stronger supply chains and expanding economies of scale.
While a number of new participants have entered the industry, its major players, which include The Home Depot Inc. and WW Grainger Inc., have expanded their online presence and increased their overall revenue. Now is the time to act if you have an idea for a new tool product because a major tool company wants to hear about it.
If your invention makes the cut, you could be awarded 2% of the first year sales, a minimum of $2,500. Plus, from now until June 30, every qualified entry is given a chance to win a monthly drawing for an Apple® iPad 2 16GB with Wi-Fi. The more great ideas you submit to the company, the more you can win.
New tool inventions and innovations are coming out every day. If you or anyone you know has a new tool invention and needs help submitting it, please contact us at New Product Consulting.