With the rapid technology upgradations, electrical and electronics sectors are growing globally. Generally, these businesses are easy to start. Also, these are very lucrative business opportunities for the electrical engineers. However, any individual having experience and knowledge can start a business in this field. In this post, I put 12 chosen electrical and electronics business ideas for your ready reference.
The worldwide electrical and electronic industry is the most flourishing and extremely diversified sector. Furthermore, it consists manufacturers, suppliers, dealers, retailers, electrical engineers, electricians, electronic equipment manufacturers, and trade unions. In addition, United States, Japan, and Korea are the top three electrical and electronic goods manufacturing country in the world. The United States of America is the largest producer of electronic products in the world, contributing a total share of around 21%. Furthermore, it also occupies the largest market share with about 29% in the global market.
List Of 12 Profitable Electrical & Electronics Business Ideas
#1. Battery Reconditioning
This is a very lucrative business. In addition, you can start from home. And it demands very small startup capital investment. However, you must have proper knowledge and skill. Read More…
#2. Cartridge Refilling
You can start cartridge refilling business by two ways. One is by opening your own company. And another by buying a franchise. The market is very lucrative and it is growing. Furthermore, you can serve domestic and as well as commercial clients. Read More…
#3. CCTV Camera
The problem of security is growing day-by-day. And it creates an immense opportunity for the entrepreneurs. You can sell and install the CCTV camera to your clients. However, you must have skill and knowledge about the product. Read More…
#4. Electrical & Electronic Store
In spite of growing online marketplaces, still, there is a very potential market for offline electrical and electronics store. However, you must start the business with focusing a niche. And as your business grows, expand.
#5. Electrification Work
This is a very good business for any individual who knows the subject. Apart from domestic clients, you can offer your service to the commercial and industrial clients also. However, you must have a license from the Electricity department.
#6. Electronic Appliances Service & Repair
This is a profitable business. You can offer the service as the mobile basis or from your home. In addition, you can start this business as a franchise also. After the warranty period, servicing and repairing become very costly if you want company service. So people generally look for local services.
Electrical & Electronics Business Opportunities
#7. Electronic Toys Selling
Revenue wise this is a lucrative business. You can sell the toys from the retail store or from your own online store. In addition, you can go for distribution also. However, toys distribution demands higher startup investment. You can source the toys from local manufacturers or you can import them.
#8. E-waste Recycling
E-waste recycling is a global environmental issue in recent phenomena. The Environmental Protection Agency estimates that only 15-20% of e-waste is recycled, the rest of these electronics go directly into landfills and incinerators. However, you must have sufficient space and a proven business model. Read More…
#9. LED Light Assembling
You can initiate your own brand in the industry. In addition, assembling businesses demand less capital investment compared to full-scale manufacturing. Furthermore, this is a very profitable business. Source the required materials from the local market or import them. Read More…
Electronics Business Ideas
#10. Mobile Accessories Selling
Mobile accessories market is growing substantially nowadays. There are immense opportunities due to substantial growth in adoption of smartphones and tablets worldwide. In addition, decreasing prices of mobile phones are increasing smartphone penetration. So, this is the most right time to start mobile accessories selling business.
#11. Smartphone Repairing
This is a lucrative business for an individual who knows how to repair a smartphone. The smartphone consumption is growing rapidly globally. So it creates an enormous opportunity for smartphone repairing service providers. However, you must have the knowledge and skill about smartphone repairing. Read More…
#12. Solar System Providing
The solar system is a popular alternative energy solution. Due to the very less recurring cost, the trend of using solar power is growing rapidly. The primary responsibility includes providing design, supplying materials and installing them within your client’s budget.
Electrical and electronics field offer various different types of business opportunities. However, this sector demands adequate knowledge and experience. I hope, this list of 12 electrical and electronics business ideas will help you in taking an informed decision.