Best 27 Profitable Electrical Business Ideas

There are many electrical engineers and apprenticeship holders out there who are working in jobs to get minimum payouts for electrical services. This industry has a vast scope to acquire high-ticket job requests and earn profitable returns. 

And that is possible only when those electrical engineers and apprenticeship holders run their businesses in this competitive industry. With your experience and knowledge, you might believe that starting an electrical business is easy.

But over time, when you face the real competition in this industry, you soon realize that you need to go beyond your expertise in this field and try different ways to keep up with the business flow. 

Therefore, an important professional consideration for electrical engineers and technicians is to decide on profitable and demanding electrical business ideas to connect with potential clients. 

You must pick the initial trades you want to start your business with, and later you can add other specializations to maximize your profitability. Below are the 27 brilliant electrical business ideas for you to start with.

27 Innovative Electrical Business Ideas

More than 96,678 individuals with electrical engineering degrees are currently employed in the United States. The demand for electrical engineers is the highest in Atlanta, GA, United States. 

Even though the technology sector is paying the most to electrical engineers for their utmost experience and knowledge in the sector, starting a business will need you to focus more on attending residential and commercial electrical jobs.

Keeping that in mind, here are the 27 innovative electrical engineering business ideas that would help you maximize your earnings and earn a name for your brand:

1. Building home security systems

Home security systems use several electronic components that function together to protect home spaces. The complete system consists of a security camera, motion sensor, an entry sensor, glass-break sensor, siren, and others. 

Electrical engineers willing to start their business can consider starting with this business idea. It offers a wide array of selection options to the consumer, which is productive for a business to ensure customer satisfaction.

2. Air compressor production

Air compressor is industrial-grade equipment that serves an application mostly in the automobile industry. Electrical businesses can offer air compressor production services to meet those industrial needs and earn profitable returns.

3. Battery production

Battery production is one of the least complex electrical engineering business ideas. You will need to abide by the conditions of the pollution control board of your region, and then you can start this business right in your neighborhood.

4. Capacitor manufacturing business

You do not need much capital to invest in a capacitor manufacturing business at the start. There is always a need for capacitors in the residential and commercial setting, which is a lucrative option to prefer.

5. Solar power installation and construction

Solar power adaptation is the trend now, and electrical engineers worldwide are working on improving this technology. If you have the knowledge and expertise, you can consider building a team and business around this electrical engineering business trade.

6. Manufacturing electrical switches

If you want to start with basic electrical services, start by manufacturing electrical switches. You can sell it to the construction companies in bulk to install it in residential and commercial buildings. It is a profitable business idea to start with. 

7. Cathode ray tube production

Cathode ray tube goes through a complex production process, but this business can be started with minimum capital. It is a crucial hardware part for most consumer products. 

8. Electrical control panel production

Electrical control panels are highly demanded in industrial sectors as they control mechanical equipment. Hence, it gives a better scope of earning for the electrical engineering businesses. 

9. Electrical wire manufacturing

Among all the business ideas for electrical engineers, electrical wire manufacturing can be a constant revenue-generating idea. Electrical wires are one of the most consumable items in major electrical work in residential and commercial settings. 

10. Electronic toy production business

Electrical engineering doesn’t always revolve around solving practical problems but can also run a toy business to make profits. Electronic toys are modern playing essentials for kids, and you will need a moderate investment to start with this idea. 

11. Service and repair of electronic appliances

The most obvious electrical engineering business idea is to offer service and repair jobs for electronic appliances. You can offer it locally at the best price as many customers don’t want to spend hefty repair and servicing rates on the companies after the warranty expires. 

12. House electrification business

House electrification is one of the most lucrative electrical engineering business ideas that can help you earn more in a small timespan. You can take up electrification projects for any house or building construction projects or alter the electric lines in an established property. You might need a license from the nation’s government to offer these services. 

13. Optical fiber production

Fiber-optic communications is a widely preferred technology today. Different areas of the telecommunication and broadband sectors are demanding the production of optical fibers, which can be one of the best ideas for electrical engineers to start a business. 

14. Manufacturing electrical circuit board

With knowledge and expertise in electrical engineering, printed circuit board production can be a stable business trade. A moderate range of investment is essential for you to commence with the manufacturing business of printed circuit boards. 

15. Smartphone repair 

Smartphone repairs involve working with several electrical components in them. Therefore, the demand for electrical engineers with experience in handling smartphones is high. Starting with repair services for smartphones can be a profitable business idea.  

16. Voltage stabilizer production

Voltage stabilizers are sold as an upselling product with major electronic appliances such as air conditioners and refrigerators. If you can manufacture them and offer repair and maintenance services for them, then it can be a profitable move for your business. It has a complex manufacturing process and needs a moderate investment. 

17. Digital weighing machine production

There is a gradual rise in demand for electronic weighing scale machines. Digital technology on weighing scales has made the product more user-friendly and serves several other applications. Therefore, add this trade to your firm along with all the other business ideas for electrical engineers. 

18. Computer assembly 

Assembling a computer is one of the most common and profitable electrical engineering business ideas. The target audience is broad for this trade as almost every student and working professional wants a laptop or PC for their assignments. And they seek to assemble the specifications for high-performance output. Not to mention needing the help speeding up the device when it’s underperforming.

19. Manufacturing electronic fan regulator

An electronic fan regulator is a small electrical component that controls the speed of your ceiling fans at home or in commercial spaces. You can start production of these regulators along with manufacturing of switches and sockets.

20. Inverter production business

Inverter serves the purpose of converting direct current to alternating current with the use of electromechanical processes. The functionality of an inverter is highly efficient for home and office owners, for which the financial returns are higher. So, you need a well-planned investment to start with this electrical engineering business idea. 

21. Generator manufacturer business

Generators are highly essential for domestic, industrial, and commercial purposes. They are often sold in different capacities and preferences. Therefore, it is one of the viable electrical engineering business ideas for you to start with a medium-scale generator manufacturing business. 

22. UPS assembly business

UPS assembly is a simple service, but consumers often want professionals to do it. Therefore, adding this trade to your electrical engineering business will help you generate extra profits. You need very little investment to start with this business trade. 

23. Green consulting business

With your electrical engineering license, you can obtain an energy and environmental design certification to offer green consulting services to businesses and homeowners to adopt sustainable practices. You will be guiding them towards improving energy efficiency. This business idea is still in the growing stage. 

24. Robot vacuum cleaner manufacturer

The job of electrical engineers is to make life easy for the consumers. And, with a robot vacuum cleaner, you can help homeowners ease their cleaning efforts. It is not difficult to assemble a robot vacuum cleaner, but you need moderate capital investment and a strategic plan. 

25. LED light assembling business

The process of manufacturing LED lights is simple, and the target audience is already aware of its usage. Therefore, you can start your production and assembly business for LEDs with specific knowledge and expertise. You need moderate capital investment to start with this initiative. 

26. Electrical and electronic products store

The demand for offline electrical and electronic product stores is still a thing, even with the online availability of those products. Pick a few products to add to your store and slowly expand the stock over time.

27. Publishing electrical engineering textbooks

If you want to pass on your knowledge to the budding electrical engineers in colleges and universities, you can write ebooks and textbooks on electrical engineering subjects. You will be making a good profit if your book can be included in the academic curriculum for engineering universities. 

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Green consulting is the trending business idea that most of the existing electrical companies are adding to their service offerings. You mostly sell products or practical services in all other business trades. But with green consulting, you will be a mentor or guide to businesses and homeowners to improve their energy efficiency quotient and to help them adopt sustainable alternatives.

Some of the latest inventions in the electrical industry are

  • Virtual reality
  • Eye tracking technology
  • Highly efficient photovoltaic cells
  • Wireless wearable technology
Electrical engineers are highly demanded in California, Michigan, Pennsylvania, New York, and Texas. These states have the highest level of employment for electrical professionals.

You need to follow some strict steps to grow your electrical business, which include:

  1. Build a business plan and marketing plan.
  2. Improve your digital presence and reputation.
  3. Ask the existing customers to refer your business
  4. Network with other businesses to get bigger projects and a better customer base. 
  5. Keep adding more services to your business over time.

FieldCamp Eases The Way You Conduct Your Electrical Business Operations

Irrespective of the business services you offer, it is crucial that you have an organized approach to managing your operations. You can experience a flood of job requests, but if you are not organized enough, you must let go of most of them. Eventually, your business will bear the loss. 

FieldCamp is a job scheduling software with digital features to streamline your field service operations in a few clicks. With our software, you can take requests and assign them to your employees in just a few minutes. 

If you want to send price estimates to some of your customers for an electrical contractor, then you can upload the estimate to FieldCamp’s portal and send it to customers through their contact details. You can digitize almost all of your field service operations with us. 

Following that, FieldCamp also allows you to create invoices from the software portal. You can guide your employees to create and deliver invoices on site within a few minutes of completing the service. You just need to enter the pricing for your services as decided with the customer and fill all of the given parameters in the pre-set invoice template of FieldCamp. Your invoice will then be generated within seconds! 

FieldCamp allows you to add flexible payment methods to the portal. It will make it easy for you to collect payments online through FieldCamp. It will also update the invoice dues and payment status for your business to keep track of it. In the end, you get to store all your customer information to offer better service in case of repeat businesses.

If that interests you by some means, then you can try our software with a 7-day FREE trial of FieldCamp. Explore the features we have built and integrated with the software for your business to thrive. We assure you that your electrical business will be more streamlined than ever when you leverage the maximum potential of FieldCamp. 

Author Bio

Gaurang Bhatt

Gaurang Bhatt is a techie in himself with an ability to solve problems technically and present solutions in the form of a product. He is one of the pioneers to curate FieldCamp with his 15+ years of knowledge and expertise in providing solutions to home service industries. Gaurang aims to overcome challenges faced by service business owners through software solutions and blogs.