I had a blast attending the National Hardware Show in Las Vegas this year to meet up with members of the inventRight community and connect with companies looking for your ideas. This is an annual trade show for the hardware industry. Attending a trade event like the National Hardware Show is a great way to learn where the field is headed, including hot innovations, as well as establish relationships with potential licensees.
Here’s what I learned.
Insights from the 2024 National Hardware Show For Inventors
Connecting With Companies Looking For Ideas
Trade shows are an excellent way to collect the contact information of the right people to submit your idea for licensing. The Hardware Show was no exception; I found 30 new companies over two days that were open to licensing.
inventRight Member Mike Van Horst Relicenses His Invention
One of our members, Mike Van Horst, successfully relicensed his product and was demonstrating his “Push and Hang” in the booth of his new licensee at the Hardware Show. His product is now in Home Depot!
Big Players, Small Booths
Some major tool companies and others are no longer present at the show, a trend that has persisted for about four years. However, here’s a tip: Sometimes, big players will have a small booth to showcase a new product. I observed this with some tool companies. So, make sure to say hi and engage with them. The occurrence of big companies having small booths is becoming more common.
This isn’t to say that there were no big companies at the show; there were plenty, just not the largest ones in most cases.
Increase in Contract Manufacturers Based in Asia
There appeared to be double the number of contract manufacturers from Asia at the show. My guess? They are concerned about some manufacturing leaving China, leading their employers to send them to the show to seek out new work.
Licensing Opportunities for Established Businesses
I spoke with a man who is one of the largest manufacturers of casket handles and accessories in North America at the inventRight meetup I hosted. He is interested in licensing a tool unrelated to the casket business. I provided him with some tips on navigating the show and licensing. He was enthusiastic about the prospect of venturing into a different category without the responsibility of starting a new company, thanks to licensing.
Tesla’s Convention Center Tunnel
Tesla has constructed a tunnel from one part of the convention center to another. I had the opportunity to take a Tesla through the tunnel to the show. Eventually, it will extend all the way to the airport!
Identifying Potential Partners — Booths to Avoid
While looking for companies, some can be easily passed by as they offer nothing innovative. They may sell very generic items that are commonplace. While products don’t necessarily need to be groundbreaking, I would advise against companies offering extremely generic items only.
The Hardware Show’s Value
The Hardware Show is smaller than it was four or five years ago, but it remains a great show for those with hardware-related items seeking licensing opportunities.
Post-Show Chaos
I purchased a show display item from a vendor and returned the next day, after the show ended to pick it up. It was a mess! Check out what it looks like after a show! You can see the transformation from “this” to “this” using the two pictures below.
Planning on attending the 2025 National Hardware Show in Las Vegas? Mark your calendar now: The dates for 2025 are March 18-20th. And, get in touch with us! We host a meetup every year.
