Top 10 Proven Ideas for Mechanical Engineers to Establish Startup Businesses
Are you a Mechanical Engineer and planning to start your own business? Mechanical Engineering is a money-spinning career path for engineering students. There are numerous ways to get into entrepreneurship for mechanical engineers. This discipline of engineering involves designing, production, and operation of machinery. In a country like India, small-scale businesses in the light engineering industry can be considered as a profitable investment opportunity.
Let’s discuss some of the highly-effective mechanical engineering business ideas.
1. Nuts and Bolts Manufacturing
Nuts and bolts are key industrial fasteners that are used in every machines, structures and products. These are light engineering products and do not require heavy investments. You will also get enough clients for these products as there are lots of SMEs who look for nuts and bolts in small and huge quantities.
2. Solar Panel Installation
Solar panels, which convert the sunlight into usable energy are the new rave by nature lovers and environmentalists. These are the most cost-effective way of getting solar energy for industrial as well as household purposes. Installation of the panels has been deemed as a lucrative business as it gives huge profits with minimal investment and manpower.
3. Product Assembly Service
This business involves assembling of products for manufacturers who are looking to save up on their expenses while also giving young entrepreneurs the chance to earn something. This particular business will give you the freedom to work with multiple companies at your own pace and comfort.
4. Mechanical Engineering Consultancy Firm
Apart from mechanical skills, math skills, creativity and communication skills, which you have learned in your college, you need practical experience in designing, testing, manufacturing, tools, and machines to shine in this field. As a mechanical engineering consultant, most of your tasks will revolve around solving problems in real-world scenarios. There are many businesses that are looking for a consultancy that would support them in mechanical engineering services.
5. Supply Chain Management
You can make good money from supply chain management. This refers to several activities including the production, design, and transportation of raw materials for the final products, as well as quality control and distribution of the final products to the end customers. Here, your role will be to help the manufacturers make the supply chain process easier and smoother by designing cost-effective ways for them.
6. Chemical Industry Machines Designing
As a mechanical engineer, you can put your skills to good use in the chemical industry by designing machines that can be used in producing chemicals.
7. CNC Machining Business
CNC Machining is a process that involves the use of computers to control machine tools used in the manufacturing sector. Being a mechanical engineer you can help manufacturers fix the problems in CNC machines.
8. E-waste Recycling
By using simple cost-effective technology you can start an e-waste recycling business and can make good money out of helping environment toxic free. The objective of this business is to transfer e-waste into industrially and socially beneficial raw materials like plastics, glass, valuable metals etc.
9. Machinery Designing
The machine manufacturing companies are highly dependent on designers. Therefore, this is one of the most lucrative and knowledge-based business for mechanical engineers. With the latest 3d technology, you can create the designs of costly machine models.
10. Machinery Distribution
Besides the manufacturing industry, the construction, retail, transport and other industries also look for machines for the smooth operation. Mechanical engineers having sound knowledge of machinery can start distribution and installation of machinery in their localities. However, it is advisable to study the target market and customers thoroughly before getting into it.
Conclusion: The above mentioned are just a few business ideas; there are far more already in the market and being incubated as you read this blog. Mechanical engineering field is a huge one and most of the engineers in this domain have the entrepreneurial spirit in them. As they have a great scope, they should not always wait to be employed by companies rather start off their own business and give employment to others.