Engineering businesses are related to building and implementing an engineered solution to a real-world problem. Unlike ecommerce businesses, engineering businesses need large capital infusions and a broad market. With the increasing consumer economy, a large number of businesses require new and innovative solutions in manufacturing. With the right mix of design and innovation, such markets can be identified and dominated to create multi-million dollar businesses. However, if you are looking for some great engineering business ideas then you have landed at the right place.
Before proceeding, you should have a look at our list of 56 Business Ideas With Low Investment and High Profits
1. 3D Printing
3D printing involves recreating products using a raw material fed into a machine that cuts a 3D design into an actual, real prototype. This is one of the works that is highly innovative and is a need of the hour. Many people who seek the services of 3D printing to make samples, prototypes or even actual commercial products.
3D printing services can generate huge profits due to large margins since it is a premium service. Currently, this field is unexplored due to high capital infusion for the machinery involved and due to the lack of companies making quality 3D printers. 3D printers are yet to see engineering innovative ideas which can boost business in this segment.
2. Non-stick Cookware
This business is very profitable to begin because cookware utensils are needed in daily life to make food that is free from being charred. Nowadays, a large percentage of people turn to non-sticky cookware even for a higher premium because of the utility it offers. Hence, this is a viable business requiring engineering solutions.
Moreover, non-stick cookware has more benefit than other cookware as it consumes less oil and food is healthier when cooked in this type of cookware. Furthermore, if you explore more in this business segment then you might be going to have a win-win business model waiting for you.
3. Solar Panel Installation
Electricity can be generated from solar energy using solar panels. Solar energy is the need of the hour with the world’s increasing need for energy and the non-sustainability of fossil fuels to fulfill this need. On the other hand, solar panels can transform sunlight into electrical energy, which is renewable, sustainable and non-depleting.
This makes manufacture and installation of solar panels at homes and workplaces a great engineering business idea so that the people can easily produce their own, clean electrical energy without having to pay the surmounting electricity bill each month and reducing the dependency on the depleting fossil fuels. However, this would bring down pollution and will further reduce cost overall.
4. Automobile-Repair Shop
With the increasing urbanisation, the number of people buying their own automobiles is at an all-time high, and this is increasing every passing moment. With the advent of eco-friendly solutions like Tesla, the world is on the verge of a new-automobile revolution.
With the increasing number of cars and motorbikes being sold, an automobile repair shop is a viable engineering business idea that can actually help the people cater to their automobile repair needs.
5. Household Appliances
Household appliances such as coffee makers, toasters, vacuum cleaners, tools, and other appliances are a part of everyday urban life. A business making home appliances will greatly benefit you when you are able to prove to them that the equipment that you can create functions properly and has greater benefits. People will prefer these innovations compared to their older models and shall adapt to the innovative, new version of the old equipment.
6. Engineering Consultancy
By having expertise in engineering, one can set up an engineering consultancy firm. This is one of the least capital intensive engineering businesses and one can join with other engineers and employ them to grow the business and gain quality clients by providing value to them with expertise in the technical field.
Engineering consulting firms may require Engineers from multiple disciplines including Civil, Structural, Mechanical, Electrical, Environmental, Chemical, Industrial, Agricultural.This diversity may be necessary to cover wide variety of potential projects that could be presented to firm
7. Weighing Machine Manufacturer
Weighing machines are needed in various fields such as manufacture, retail, and logistics. Even households require weighing machines for their own domestic requirements.
There is a constant need for knowing the exact weight of many items, e.g., food, ingredients for production, pharmacology, chemistry, technology, etc. This makes it a viable business because there are varied customer groups who would be interested in buying this machine, customized according to their needs.
8. Mining Equipment Manufacturer
There are only a few companies that work in the field of mining equipment manufacturing due to the high complexity and the engineering dexterity involved in the same. Mining equipment include mining drills and tools, earth movers, crushing equipment and machines, feeding & conveying equipment, and others.
Furthermore, adoption of various technologies such as automation and IoT is reducing labor cost and operational time associated with mining activities, this in turn is expected to increase the demand for innovative mining equipment. In addition, growing consumption of natural resources, such as coal, diamond, and uranium, and increasing need for mineral fertilizers to improve agricultural yield supplements are major factors expected to increase the demand for the global mining equipment market.
With the right expertise, innovations, and capital, one can make world-class equipment and bring value to large-scale corporation clients that operate in this engineering intensive field.
9. Fitness Equipment Manufacturer
Worldwide, the rise of obesity and incidence of weight-related health problems such as diabetes, hypertension, and heart disease increases concern about health and drives use of fitness equipment.
This makes a quality fitness equipment manufacturing business with a clear differentiator, a strong business that is scalable as the urban population is happy to invest in fitness equipment even at premium prices. This helps people to either train at the convenience of their own homes as an auxiliary training to their regime at the gym.
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10. Training School
The training school is the right place to coach kids who have expertise in the field of engineering. Such schools help students to practice in both theories as well as with hands-on experiments, making the students gain valuable real-life insights.
As a trainer, one contributes greatly towards shaping students who are intelligent, competent in their field and are trained to become innovators in their fields. This can provide benefits to them to prepare them for their professional careers and create disruption in their fields.
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Basically, to start any business a person needs passion and constant dedication. Person should be able to identify the specific demand and the target customers for his products and services. We hope this list of Engineering Business Ideas will help you to start your own business.