Best Startup Business for Mechanical Engineer

What is the best business for mechanical engineers who wish to run their own startup? Recently there has been a decline in jobs for mechanical engineers all over the world due to lack of development of new industries and digitization of the work places. Coronavirus added more to the misery. Mechanical engineers are trained to deal with all situations. It is a fact that they have proven to be excellent in the jobs of management as well e.g., project management, operations management and marketing.

Instead of getting worried about the job scenario, I would recommend all mechanical engineers to work on their skill development and start their own businesses. A good strategic policy and implementation plan for your own business can open up new horizons of success for you. All of you have been trained to develop business plans. Why not prepare one for you?

Some businesses require intensive capital investment while others require skill set and very little or no investment at all. You can even start from your home. For the sake of understanding, I have categorized business ideas into two different sections i.e., businesses that a mechanical engineer can start with very little investment and business that can be started with more capital investment. Please remember that one does not need money to start self-business. If you don’t have money, you can still start your business.

Businesses for Mechanical Engineer Requiring Low Capital Investment

Engineering Design & Consultation

To start the business of engineering design and consultation, one does not need any seed money or capital investment. A mechanical engineer can work on this startup with just a laptop. Initially establish office inside your house and later on you can find a rental space for office. You can partner with other colleagues from same field and other fields of engineering i.e. IT, software engineers, chemical engineers, architects and civil engineers. You can offer following services:

• Technical consultation
• Preparation of BOQs, technical drawings and cost estimates
• Technical report writing
• Monitoring, evaluation and verification of works
• Simulation of new products and experiments in virtual environment
• Design of new products

It is one of the best business for mechanical engineer community.

Auto Repair Workshop

Auto repair workshop is a good startup for mechanical engineers. Just need a little space to start with. Once you win customers, you can add more investment to buy gadgets and latest machinery, tools and equipment. This can expand to a full fledge auto workshop offering services of repair, maintenance, denting, painting, spare parts replacement, and tires etc.

Skills Training Institute

Open an institute for skill development and vocational training of youth in your local area. You can offer courses like firefighting, welding, CNC, lathe work, auto and diesel mechanic, HVAC, motor winding, machinist, plumber, AutoCAD, mold design, solid works and press tool design.

Writing Technical Books

This can a good business for mechanical engineers who have aptitude for reading and writing technical books. It can be about automobiles, do it yourself ideas, production, management or anything else.

Recycling & Waste Handling

Recycling is one of my personal favorite as it does a lot to the betterment of society. Businesses in recycling may vary from manufacturing to simple segregation of recyclable items and selling to target markets.

Waste handling is equally good a business. You can collect waste from households and commercial markets and segregate combustible and organic waste matter. Combustible waste including paper, packaging material, cardboard, plastic and nylon etc can be sold to cement industry where it is burnt and generates heat energy equal to low grade coal. Organic waste can be sold to bio gas plant operators and compost makers.

Video Blogging

Making videos and generating revenue through instream ads on youtube and facebook is a great idea. You can make videos targeting mechanical engineers as potential audience.

Businesses for Mechanical Engineer Requiring High Capital Investment:

Contractor & Supplier

This is most favorite work done by many mechanical and civil engineers. Register your company in relevant departments. If you want to carry out contracts of engineering projects, you might be required to register with relevant agency, engineering congress or authorities who provide licenses to engineering firms.

Innovation & Product Development

Product development requires capital investment. Engineers are considered to be innovative by default. This nonetheless is one of the best startup ideas for mechanical engineers. If you succeed in designing an innovative product which adds value, you can easily find capital from investors. It is best business for mechanical engineer with innovative mind.

Renewable Energy

Renewable energy is the future. Little investment can help mechanical engineers establish a business in this sector. Installation of solar panels is the most suitable for mechanical engineers. Make packages for users based on their usage & requirements of energy in kW. Even if you don’t have any capital investment, you can partner with suppliers who provide solar panels. Suppliers do provide equipment on credit basis. You can buy solar panels and pay later after recovery from your client.

Providing services in solar system is one of the most popular and trending best business for mechanical engineer.

Manufacturing of Spare Parts

As long as vehicles are running on roads, demand for spare parts will be ever increasing. New models are being released by different companies every year. With each new model, comes an opportunity to manufacture and sell spare parts. This requires great amount of investment to work in this sector.

Manufacturing of Nuts & Bolts

Easy, sophisticated and ever green demand in the market. Nuts and bolts come in different shapes and sizes. Never ending business. There is no industry where nuts and bolts are not used. These are used in vehicles, railways, construction, automobiles, bridges, steel structure, homes, workshops, furniture and agriculture etc. Return on investment is upto 20% - 30%.

CNC Machining

In this setup, you can install CNC machines to manufacture products on demand. You can buy CNC machines or get them on rental basis as well. You will need to narrow down your area of expertise. Raw material will be required accordingly. Initially, you can start operating machines yourself. Later on, once the business is established and you start getting revenues, CNC machinists can be recruited to expand the work.

HVAC / AC

Mechanical engineers with interest in HVAC (Heating, Ventilation & Air Conditioning) can offer expert services in this sector. HVAC is a huge field in itself. There are companies working in this sector for installation of a new system and running of HVAC plants of buildings. Separate services are provided for repair and maintenance.

Rental Generators & Generator Repair

Generator repair requires learning of special skill in identifying and troubleshooting various models of diesel and petrol generators.

Fitness & Gym Tools and Equipment

Fitness tools and equipment comes in various shapes, sizes and designs. It is recommended for mechanical engineers who have interest in health and wellbeing.

Blow Molding and Injection Molding Setup

Blow molding and injection molding machines have widespread usage in industry. Blow molding machines are used to manufacture hollow plastic parts i.e., bottles etc. Injection molding machines are used to manufacture parts by injecting molten material into the mold of required shape.

Ready to Assemble Furniture

Doing business in the field of ready to assemble furniture is an ever-green business idea. Innovate, make new designs, introduce new models and manufacture ready to assemble furniture, tables, chairs and home accessories.

So what do you think is the best business for mechanical engineer? If mechanical engineers require more assistance specific to any of the businesses mentioned above, you may ask in comments section. I would love to read comments.