10 Self-Employable Business Ideas for Electronics Engineers

Engineering is one of those rare fields that can lead to innovative solutions to real-world problems. Not only does it have immense scope for making monetary gains, but it has also helped bring a technological revolution to the world we live in. Although engineering has numerous branches of study, technological advancement and updating have made it possible for the electronics sector to flourish in the current market situation.

Due to the huge room for growth in this sector, electronics engineers are free to find a fruitful career in various fields including automotive, aerospace, power generation, pharmaceuticals, consumer goods, defense, construction, energy, agriculture, utilities, Oil and Gas. However, if you are eager to take charge and want to start your own business, there are several profitable business ideas for those who dream of becoming an entrepreneur.

Mentioned below are some profitable business ideas for electronics engineers:

Electronic engineering training (image courtesy: motoman.com)

Electronics engineers can get off to a good start by providing training in various electronics disciplines such as industrial automation, die lab, embedded systems, etc. Furthermore, it is not only college students but also manufacturers, inspection agencies and repair organizations that can be trained when it comes to designing, repairing and maintaining industrial plants.

Perhaps the simplest way to start your own business as an electronics engineer is to provide training to beginning hobbyists and students. To do this, you need a small space accommodating a computer system for 10 to 15 people and some basic electronic kits for hands-on training.

Tekno, the robotic puppy (image courtesy: Wikipedia )

If you are good at working with electronics, especially hardware, then making electronic toys can help you a lot in having a fruitful career. You can start with a small toy store and then turn it into a production line or simply work for toy distributors present in the market. Nowadays everything is automatic and that's why electronic toys have gained a lot of space among children because they no longer want to play with stuffed animals or wooden toys.

Firstly, decide what kind of toys you would like to make and organize the raw materials and inventory accordingly. Another thing to decide is whether you want to sell the toys online or in a physical store. If you are just manufacturing the toys, you need to take care of warehouse space and inventory. Furthermore, the investment depends on the complexity of the toys. If toys are equipped with wireless technology, the cost incurred will be higher than toys with a simple button mechanism.

Maintenance and repair of electronic components (image courtesy: movitronics.com)

There are many tools, devices and equipment that need timely repair and maintenance, such as certain circuits inside modern vehicles (sound system) or IT equipment in offices (computers, routers, fax machines). So, you can sell a line of IT products and other gadgets or provide repair and maintenance services, including after-sales services. This can be an added advantage, especially if you are familiar with the technical knowledge of modern devices that users may not be aware of.

The repair company needs a relevant store in a suitable location where you can showcase the products and services to potential customers. Look for a good place (in the electronics market) and start selling some basic electronic components together with the repair shop for small components and devices. Little by little, as the business grows, you can have a larger space with more staff with specialized knowledge to handle large-scale tool and component repair.

PCB assembly process (image courtesy: rythos.com)

In any electronic component, the main role is played by its circuit board. So if you can handle PCBs like a professional, you can design and sell printed circuit boards to construction companies, engineering companies or manufacturing companies, you can also invest in automated equipment to manufacture PCBs on a large scale and supply them to bulk for companies like computer manufacturing companies.

For a small scale PCB company, you can purchase a space and design PCBs with the help of open source software online. Tests are carried out to finalize the designs and then they are sent for manufacturing, which requires a lot of capital investment in heavy machinery, personnel, inventory and license as well.

Web-Based Home Automation Setup Built on EngineersGarage

If you are well acquainted with electronic hardware as well as handling software, you can build devices related to home automation. This is a great business idea as it is trending and also rewarding. Being an electronics engineer, you can skillfully handle high-tech devices and develop, supply or even repair such accessories with ease.

Due to the huge increase in the home automation market, it is one of the most profitable ventures to design home automation products. However, you must choose a specific segment because there are many categories of home automation products such as smart locks, home appliances, home robots, cybersecurity, alarm systems, etc.

For business operations, the investment caters to amenities such as electricity, cloud services, software upgrade, network maintenance, customized installation, etc. You can operate as a sole proprietorship or through a franchise, but as the competition is fierce, you need to ensure that you stay well informed about your competitors' services.

Electronic test and measurement equipment (image courtesy: HelloWebz)

Electronic test equipment is used when testing electronic devices to capture responses and create signals. These include curve tracer, network analyzer, transistor tester, leakage tester, tube tester, spectrum analyzer, etc. Small businesses and individuals often look for testing equipment to rent as they cannot afford heavy and expensive tools. Therefore, renting this testing equipment can result in long-term benefits.

This type of business requires testing equipment such as oscilloscopes, signal generators, logic analyzers, frequency counters, electronic loads, etc. You need a space to store all these machines and a website to promote your services. However, if you receive orders in bulk, you may have to purchase 2 to 3 sets of the same equipment and therefore the investment will mainly be in purchasing machinery. The team required is relatively smaller until the business grows considerably.

Home Automation Video Tutorial by EngineersGarage

If you don't want to offer electronic engineering training one-on-one, in a laboratory full of computers and hardware components, you can do so online. It just requires a website or YouTube channel where you can post tutorials about the projects you work on.

This type of business does not necessarily need staff or space. All you need is a camera to record the project's operation and you can use your own electronic kit to work on the project. These types of DIY projects would help many students struggling with their college assignments and other assigned tasks.

Also, if you don't want to take notes and all the details, just explain everything orally and record the video. Then post it on your channel and you will be visited by many visitors if you are good enough in explaining the project. You can also cover any basic electronics topic and prepare a tutorial on it because videos are much easier and interactive than a lot of texts.

Electrical panel control (image courtesy: iamengineering.com)

In industrial electrification, an electrical control panel is an important product, which regulates the operation of electrical equipment. These panels provide protection against damage caused by overload or short circuit. These products are used by government agencies and councils, as well as large and medium-sized factories. Dealing with electrical control panels is a form of business negotiation.

After getting training through an online tutorial or training schools, you can start your own electrical panel manufacturing business. A certificate would also facilitate company registration.

Other requirements include an expert team with technical knowledge, advanced design software, and excellent technical support. Furthermore, it is necessary to ensure quality control and carry out repetitive checks on the layout so that there are no errors.

The widespread use of gadgets and devices leads to a huge amount of e-waste that is not good for the environment. Many public and private sector organizations tend to replace old computers, fax machines, etc., with new ones, which creates a large amount of electronic waste. Furthermore, only a small amount of this waste is recycled, while a large part is directly dumped in landfills and incinerators.

Therefore, creating an e-waste recycling business can be really profitable in terms of monetary returns as well as protecting the environment. However, it involves capital-intensive operations, so it is necessary to plan things such as budget, products to be treated and the sources from which the waste is obtained.

If you can raise a good amount of capital and acquire a license to apply for permission from the relevant authorities, this type of venture can give you a valuable position in the market in the long term. Another thing you need is skilled labor for processing, operation, collection and delivery. In addition, you will also have to get a large area for a garbage dump and decide which territory will suit it. Seeking information from others in the business can help you understand how this type of business is handled.

LED Lights Assembly Process (Image Courtesy: nortonelectricals.co.in)

LED lights have completely overtaken the market, nearly crowding out CFLs, lamps, and tube lights. This is because these lights are energy efficient and therefore provide better performance while reducing electricity expenses.

There are various types of LED lights used in almost every store or building for both domestic and commercial purposes. Some of the varieties include: LED bulbs, LED corn lights, LED canopy lights, LED strip lights, and high bay LED lights. You can manufacture your own LEDs or simply work as a distributor, as it requires a large capital investment to establish a factory.

Although these are just a few areas where electronics engineers can invest money to start a business, there are many more options that can be explored by studying the market and analyzing existing businesses.

For this type of business, software knowledge is required to design LEDs and some hardware is also required for the assembly procedure. It is important to note that you need to be familiar with LED designs, thermals, PCB substrates, optics, etc. As you are starting on a small scale, you need to get closer to customers and promote your work through a website.

Observing the current market trends where so many entrepreneurs are leaving their marks, it will not be wrong to say that now is the best time for technology-based businesses to flourish. Due to globalization and easy access to resources, countless opportunities are available for aspiring entrepreneurs.

Please be advised that we do not claim that the details provided are purely exhaustive. While we have made our best efforts to provide you with a reliable set of information on the subject, readers are advised to exercise discretion.