26 Innovative Electrical Engineering Business Ideas for Tech Startup
Looking for business ideas in electrical engineering? Here we will talk about 26 innovative electrical engineering business ideas that you can use to start a new business.
Starting a business may be a profitable idea in the electronics industry. There are many opportunities you can grab in this field to start your own startup business.
So, let’s know about these ideas that make you a businessman from an electrical engineer.
26 Electrical Engineering Business Ideas
Here are the best electrical engineering business ideas for you:
Electrical Engineering Course
The first business opportunity is to open an electrical engineering course. Many people are interested in taking this course because they hope that after graduation they have expertise or skills in electrical engineering which can be used as a source of income for them.
Creating an electrical and electronics engineering course can be home-based or an official one that has legality. If there are more and more enthusiasts, they can change home-scale courses to official courses so that they have a complete organizational structure and have a permit to establish the course.
Electronic Equipment Services
The next suitable business for electrical engineering graduates is the service of electronic equipment. Those who like electronics and are proficient in it can open a business in this field.
It is no longer a secret that graduates of electronic engineering are proficient in repairing various kinds of electronic devices. In electronic devices, there is a flow of electric current that will be able to make it turn on and can be used.
To open this business is easy and the opportunities are wide open because many people need this service. In addition, the capital that must be spent is not too large, it only requires equipment that can support its activities in repairing the electronic devices.
To sell well, electrical graduates must have qualified skills in overcoming various kinds of damage to these electronic devices.
Not only that, so that consumers are satisfied with the services provided, provide a maximum warranty period of a week so that if there is still damage to the goods being serviced, consumers can service them again without being charged a penny.
The business opportunity for electrical engineering graduates is to open an electronics component shop. Starting this shop is suitable for electrical graduates who have a passion for selling.
The electrical components are widely needed, but some need them during practicum.
As long as electronic goods are still freely sold in the market, the opportunity to set up a shop selling electronic components still has good prospects.
The battery production business does not require a complex production process. You can start one in your neighborhood, but you must take into account the dictates of the pollution control board.
There are two options you can choose from and they are semi-automatic and fully automatic.
Production of boosters and voltage stabilizers
The production of both boosters and voltage stabilizers is quite stress-free, and since both types of equipment are useful in both the industrial and the home.
You can start this business on a small scale, but it is very profitable.
Capacitors are used to store charges in an electrical circuit to discharge later.
The production of capacitors for sale does not require any large capital and is a very lucrative electrical engineering business idea.
Construction/installation of solar power
All seek to generate as much power as they can. This makes this business feasible and highly profitable.
You can help people install solar power in their homes and earn profits.
Production of cathode-ray tubes
The cathode ray tube uses a large but fragile evacuated glass envelope that is quite heavy.
For safety reasons, the tube comes in thick lead glass to be shock-resistant and to avoid most X-ray emissions, especially when the cathode ray tube is made for a consumer product. Cathode ray tube production can be started with little capital.
For electronics graduates who have the ability to properly and correctly assemble electronic components, they can provide these circuit-making services.
Currently, many people are looking for electronic circuits. Examples of circuits that are sought after and needed by the public are power bank circuits, automatic battery chargers, and many others. It is one great business idea for electrical engineering students who want to open their own businesses.
In addition to servicing electronic equipment, a lucrative business opportunity for electrical engineering graduates is to provide smartphone services. This service is in demand because of the increasing number of smartphone users.
Smartphone sales that have increased make the prospects for this smartphone service bright and lucrative.
Also read: 14 Best Furniture Business Ideas in India (2021)
Turnover from this smartphone service business is so tempting, if you already have a name in a day, you can earn up to 3 million dollars in turnover.
Compared to the business of buying and selling new and used smartphones, this smartphone service is more profitable because the risk of loss is small and it only relies on expertise.
The next electrical engineering business idea can be computer assembly. This business opportunity is suitable for those who have a hobby of disassembling computers. Not only computer and network engineering graduates can disassemble a computer or laptop, but electrical engineering students can do it too.
The target market for this computer assembly is broad considering that currently many have PCs or laptops to do school or office assignments.
As long as laptops are sold freely in the market, the business opportunity for assembling computers and laptops is still wide open.
Electrical engineering has a wide field of work, so it is not surprising that graduates have good prospects. It is not uncommon for many electrical engineering graduates to pursue the business world.
Some examples of business opportunities for electrical engineering graduates mentioned above are proof that the business world that electrical engineering can engage in is very broad and certainly tempting because it can generate good profits.
Production of electronic toys
Electronic toys are imported to various countries. Remote-controlled electronic toys are very famous in countries like the USA, India, China, etc.
That means an easily acceptable market awaits you and you can earn huge profits from this business.
Electrical switches and sockets
Electrical switches and sockets are used both in homes and in offices. You can start a manufacturing business with very medium capital.
The profit margin in these products is also high which makes this one of the best electrical engineering business ideas.
Electronic pump controller
The electronic pump controller is the latest product that is now gaining attention. It has the ability to stop the pump automatically.
It is used for industrial and domestic purposes. It also has the ability to protect the pump from damage that results from dry running. This business can also be started with little capital.
Led light production
LED (light-emitting diode) has become more and more famous now. Various colors of LED lights are now available ranging from $1 to $100, and they can be yellow, dark, soft yellow, and ultra-white.
Building a large-scale LED light production business requires a large-scale commercial factory operation with a complex manufacturing process.
The most interesting part of this electrical engineering business is that anyone can start this business with small or medium capital.
Recycling electronic products
The rate at which electronic waste accumulates is quite alarming. New fax machines, computers, televisions, printers, mobile phones, and various other electronic devices are being manufactured every day, relegating the old ones to the trash.
Surprisingly, most personal computers in some countries are classified as electronic waste. That is a great market. But before you get into this business, make sure you have some strategic plans in place so that you don’t face any losses in the future.
The inverter is a piece of equipment used to convert direct current (DC) into alternative sources. The conversion is achieved by electromechanical processes. Static inverters achieve energy conversion through scars. A static inverter often uses transistors as switches instead.
The investor production business is financially demanding and viable for entrepreneurs.
Production of the electronic fan controller
The electronic fan regulator is made up of trials, discs, and powerful isometric resistors to improve the continuous regulation of the fan speed. This is an important household item and used by many people.
An electronic fan regulator simply regulates the speed of the fan and is one of the best lucrative ideas for electrical engineers.
Fiber optic production
Optical fibers are the main elements used to transmit light between two fiber ends. It is used heavily in fiber optic communication where transmission is over longer distances, as well as much higher bandwidths than wire cables.
Glass optical fibers can be made of silica. Some other materials can be used, such as fluorine aluminate, fluorozirconate, chalcogenide glasses, and crystalline materials such as sapphire.
Fiber optic can be a profitable business but the competition is already very high.
Generators are widely used in many countries for commercial, domestic, and industrial purposes. The demand for generators is very high.
Generators are of different types and also come in different capacities. You can start a medium-scale generator manufacturing business with moderate capital investment.
Air compressors are used in small service stations to large manufacturing plants.
Garages, basements, and home workshops were also found to use air compressors. Before you start this business in your country do market research regarding the potential of the business.
It can be profitable in some countries but can be also a bad option in some states.
These are consulting services that help businesses go green. You can go green with a combination of an electrical engineering license and leadership in energy and environmental design certification.
Green consulting is aimed at helping both entrepreneurs and homeowners secure a way to improve energy efficiency. But the business is yet that much in demand and profitable.
An electrical engineer can write e-books or textbooks on various subjects and areas of expertise in electrical engineering.
These e-books can be offered for sale online, at schools, or in tutoring centers.
Freelance electrical designer
Electrical engineers can work online independently on some websites, such as Fivver, Upwork, etc., which offer flexible working hours as well as negotiable service charges.
There are various electrical design jobs available online on other platforms as well.
Design and manufacture of household appliances
This is a great way to earn money if you work on general appliance needs such as electronic mosquito killers, electronic health care devices, etc.
In this business, there already many big companies that make these products so you may face high competition.
Design of wireless home security devices
You can build your own wireless home security devices with surveillance cameras. The provision and service of home security systems for individuals and small businesses is very lucrative but also competitive
As you already know that security is currently in trend but most of the businessmen and even people use them at their homes. So, already many businesses have a hold on this field.
If you are an electrical engineer then there are many business opportunities for you to start a business.
Starting a business in the electrical field not only requires expertise in electrical engineering, but you should have some skills in business also. If you have interested in starting this business, the above-mentioned ideas may help you to start a business.