Did you know that you can make money from ideas? Here, we will evaluate the various companies that buy ideas so that you can get paid for your inventions.
List of Companies that Buy Ideas Get Paid for Your Inventions
If you’re someone with a lot of great ideas, you are probably looking for companies that buy ideas. The good news is that there are companies that buy invention ideas and much more.
For some people, coming up with a fantastic and innovative idea is easy. There is no reason not to get paid for your inventions if you are one of those people.
The trick is learning how to make money from your ideas. If you can pull it off, it’s a great way to make money. You simply generate new scalable ideas that solve real-world problems.
While some companies will by your inventions, other companies will pay you for your ideas, such as a new app idea or an idea that would make mowing your lawn a lot easier.
I’m trying to make money in the most ways possible to shelter myself in income that will last into perpetuity. Inventions are the one thing that if you hit it big, you can earn royalties for as long as the product is alive.
I’ve been tracking my cash flow and net worth for free with Personal Capital. It’s been a great way to keep my finances all in one place for completely free.
The following sections are divided into the following categories:
- Companies that will buy your invention or invention idea, and
- Companies that will by your app ideas.
Let’s get started on our list of companies that buy invention ideas.
Companies that Buy Invention Ideas
Below is a list of companies that will pay you to invent stuff. The companies fit a variety of industries, including outdoor, petcare, supplies, medical, etc. Let’s get into it.
This is the parent corporation of the producers of Right Guard and Dial soap. They also operate the Henkel Partnership Program. This is a contest that they sponsor for budding inventors and innovators in technology.
Those with new ideas and inventions are encouraged to submit their ideas to the program. The Kenkel Partnership Program is most interested in new ideas in the area of laundry products, home care, cosmetics, as well as adhesives.
They also encourage ideas that are environmentally friendly.
This is a company that focuses on staying ahead of the game when it comes to technology, toys, and innovative gadgets. They assign teams to do nothing but sift through the ideas that are sent to them by new inventors.
When you submit a new idea to Sharper Image, the company asks that you send them an email with a description of your product, as well as a picture or video.
If you have already started producing your product, they would also like you to include information on sales numbers and where your invention is being sold.
If you are familiar with 3M, you are probably not surprised that this company would be open to ideas from new inventors. 3M is always coming out with new products.
This company produces everything from electronics to office supplies, and health care products. You can submit your invention idea to 3M here.
This is a company that specializes in medical technology. They bring new medical research to the general public to improve the outcomes of patients all over the world. For those interested in submitting their ideas, the company offers an Acceptance of Terms form that you will have to agree to and sign.
You will need to mail the form to the address listed, along with the ideas for your product.
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Dorman Products, Inc.
This company specializes in hardware, houseware, as well as automotive products. Dorman is mostly a distributor of products but they are always looking for new items to add to their lineup.
If you are already producing your product, you can send them a 3D sample for consideration by their review team.
Jokari Home Solutions
If you are looking to sell invention ideas that fall under the category of houseware, Jokari Home Solutions is always looking for innovative ideas to bring to the market. For those who have developed a new kitchen gadget or home organization product, you’ll want to consider submitting your idea here.
Jokari Home Solutions has a form on their website where you can fill out your information and submit it for consideration.
Coastal Pet Products
This company is dedicated to bringing the best pet collars and leads to the consumer. For pet lovers, this may be the perfect place to pitch your idea.
They are always looking for new product ideas that make life better for pets and their owners. If you have an idea for a new type of pet collar, this company will welcome the chance to look at your invention ideas.
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Hearlihy & Company
Hearlihy & Company produces educational supplies for everything from drafting tools to Life Education and technology.
If your invention falls in this category, this would be a good company to submit your idea to.
If you are a tradesman and have an idea for a new tool, there are companies that buy ideas, such as Builders Inventions. This company specializes in producing tools that are invented by builders and tradesmen.
If you have an idea for a tool that would be useful for contractors and builders to use on their job sites, you can contact this company to ask about the process of submitting your idea.
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If you have an idea for a gadget that would be useful for outdoor recreation, Coleman is one of the companies that you will want to look at. Coleman produces outdoor products such as camp stoves, tents, lanterns, and even camp trailers just to name a few of their products.
If you have an idea for an outdoor product that would fit with this company’s offerings, you can contact them and offer your idea for review.
See Related: List of Companies that Buy Patents
Wild Planet Entertainment
Wild Planet Entertainment produces toys that encourage children to be creative. Their products are meant to promote a child’s imagination and encourage them to explore the world they live in.
Wild Planet Entertainment is dedicated to manufacturing products that are safe, as well as durable and fun for kids of all ages.
If you have an idea that fits within this company’s spectrum of products, you are encouraged to contact them and ask about their idea submission process.
Pro Performance Sports
This company produced the best in sports training products. If you have an idea for a product that you believe would be a good fit for Pro Performance Sports, you are encouraged to print a copy of their submission form and return as directed on their website.
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Companies That Buy App Ideas
The mobile app industry is huge. Consequently, mobile app insiders are constantly vetting app ideas from everyone, including their neighbors, kids, and relatives.
The sad reality is that most app ideas never get off the ground.
The reasons why some app ideas don’t go anywhere are varied and can range from the app is too close to something else that is already on the market to it being incompatible with the technology that is currently available.
Perhaps it just isn’t that great of a concept.
On the other hand, there are app ideas that really do have potential. If you think you have an app idea that will make millions, there are companies that buy app ideas. Here’s how you make money from your app ideas.
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Make Money From Your App Ideas
There are a couple of ways you can make money from your app ideas. You can either produce and market the app yourself or shop for companies that will invest in your idea.
Take Your App Idea From Concept to Detailed Plan
It is always a good idea to refine your app idea before you try to make money from your app ideas. Some questions that you will need to ask yourself is,
- Does your app have a niche in today’s market?
- Can you prototype your idea?
- Will it attract buyers or investors?
- Will the finished app be better than other similar apps that are already available?
You don’t necessarily need a new concept to make money but you do need a new way to present that concept.
See Related: What to do With an Invention Idea
Make Money From Your App Idea through Monetization
Here are several ways to monetize your app idea.
- Monetizing Your App Directly – You can make money this way by producing the app yourself and selling it on a variety of different platforms. The user will either purchase the app or pay a subscription. This is money in your pocket but you should be aware that some platforms will take a cut of the money you make.
- Free Demo – Offer your app on the various platforms as a free download with some functionality. The key to making money this way is to withhold some of the app’s features for those who buy the full version.
- Make Money From Your App With Advertisers – One way to make money from your app idea is to offer a free download and advertise for other vendors on your app. It is always possible to pair this with the upgrade or full version purchase option so that you are doubling your income potential.
See Related: How to Make Money with Royalties
How to Make Money From Your Ideas Indirectly
The problem with developing your app idea yourself is that it will take money. If you do not have sufficient working capital, it will be very difficult to bring your app to market.
If you can target an investor, it will give you more money to work with and the ability to target a wider market for your app.
- Start-Up Accelerators – These are private companies that will sometimes invest in start-up business ideas.
- Angel Investors – Angel Investors are usually individuals are small groups who will help fund a start-up company or app idea.
- Crowdfunding – This involves attracting small donors in large enough numbers that you have the money to fund your idea or start up company. The best part of crowdfunding as that you can get a lot of capital before you have even taken your app idea to the development state.
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List of Companies That Buy App Ideas
If you don’t want to deal with the trouble of investors or developing your app idea, you can always look for companies that buy app ideas.
Before you start looking for companies where you can sell your app idea, you will first want to patent your idea. Without a legal patent, anyone can take your idea and make it their own.
Once you have the technicalities of a patent behind you, it will be time to start looking for a company that wants your idea.
- Google – Not only can you sell your app in the Google Play Store but you might want to think of approaching Google as a buyer for your app. Google is constantly developing new apps and technologies so there is no reason not to bring your idea to them.
- Mobile App Fund – You can submit your app idea to Mobile App Fund and after a review of your idea, they may put up to one million dollars into your project. They take care of the development, marketing and share the profits with you.
- FundedApps – This company will pay you for your app idea plus give you a 25% cut once your app hits the market. First, you’ll have to submit your idea. A team of specialists will review your idea. If they believe that your idea has viable, they will contact you.
- GungHo Online – This Japanese company is one of the most successful app companies in the world. You may recognize them as the publisher of Puzzles and Dragons. If you have an app you believe with fit with this company’s apps, contact them to ask about the process of submitting your idea.
- Supercell – This company is the makers of the Clash of the Clans app. Supercell is located in Finland and is still in the app business. If you’d like to submit an idea, visit their website to find out the process.
- King – This company is the creators of the still popular, Candy Crush. If you believe your app idea will be the next big thing, why not contact this company and ask about their app idea submission process?
- Apple – Like Google, Apple does more than just make phones. You can sell your app in the Apple Store or you can contact the company to ask about the process for submitting app ideas.
Selling Your App on an App Market
If you have already developed your app idea and would like to sell it outright, you have a couple of options. App markets are similar to eBay except you are selling your app code.
Apps sold on these platforms tend to sell for ten and even twenty times what they would sell if you found a broker to help you sell your app.
Most apps on these markets will sell for $500 – $5,000 but once in a while, you will see an app that goes for up to $50,000.
Markets to Help You Make Money From Your App Idea
Flippa – This is the top platform to buy and sell apps online. They offer the lowest market fee for sellers and since there is no fee for buyers, you’ll have plenty of people looking at your app. Here is a guide to website investing and selling.
Fliptopia – When you sign up with Fliptopia you can easily buy and sell apps. Apps on this site have asking prices that range from a few hundred dollars to thousands of dollars. If you are confident that your app is a great idea, try selling it on Fliptopia.
Selling on the marketplaces is an easy way to make money but in most cases, you need to have the app already developed.
You can do this with an app development company and use the marketplaces to start your own app flipping business.
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