There are plenty of options available for mechanical engineers like you and me to start a business.
Rule #1: you don’t need lakhs of money to start one. It could be as simple as being an on-call mechanic to freelance designing.
Rule #2: Analyze your market and determine what gaps exist therein that you could fill.
Rule #3: Always take risks and prioritize customer satisfaction, money will come eventually.
Now for business ideas, As a mechanical engineer, opportunities exist for you in almost every industry. For instance in the agricultural industry, you could build tools like tractors, shell removing machines, irrigation and water supply equipment, food processors etc.
1. Auto-parts store-: As a trained mechanical engineer, you would most definitely be able to identify quality spare parts. You could open a spare parts store in your area for people who need to replace a damaged part in their motor vehicle.
2. Solar panel building and installation-: This is a business that would do well in any country in the world because everywhere in the world, people are looking for alternative sources of power to cut high energy costs.
3. Auto-repair shop-: You could also start a repair shop for motor vehicles, motor cycles, bicycles and other automobiles. You should consider adding mobile auto repair to your services for more patronage and profit.
4. HVAC installation and repair-: Another business opportunity for mechanical engineers is to set up a heating, ventilation and air conditioning business. You would help people install or repair their HVAC systems and you could also sell new systems and parts and gadgets like air conditioners, home and office heating systems, refrigerators etc.
5. Auto-parts assembling plant-: You could also start a business of importing motor vehicle parts, assembling them and marketing them as your own products.
6. Training school-: If you have a flair for teaching, you could either become a lecturer, teaching mechanical engineering in universities or set up a training school to train and brush up mechanical engineers.
7. Mechanical Engineering Consultancy Firm-: Another smart business idea is to start a consultancy business to offer support to industries and companies in need of mechanical engineering services.
8. Machine building & Design-: As a mechanical engineer, you could build machine prototypes or conduct research and design different kinds of machines for use in different industry. You could also seek out intelligent individuals who have developed unique innovations but do not have funds to market them. You could take such people under your wings and give them the exposure they need.
. Waste Management-: The waste management industry is very broad and as a mechanical engineer, there are opportunities for you in the waste management industry too. You could help to design and construct machines that would make waste disposal and recycling easier.
11. Supply-Chain Management-: Supply chain management is every activity involved in production, from deigning the products, to getting raw materials, to the actual production, quality control and distribution to consumers. As a mechanical engineer, you can design cost effective ways to make this process easier for manufacturers.
12. Recruiting firm-: You could also help companies who need to recruit good hands to head hunt, conduct interviews and tests and negotiate remunerations for mechanical engineers.
13. Mechatronics-: Mechatronics is derived from two words; mechanical and electronic. Mechatronics involves developing gadgets that need both mechanical and electronic skills such as video cameras, electronics, motor vehicles, aeroplanes etc.
14. Developing household gadgets-: As a mechanical engineer, you could also develop household gadgets like vacuum cleaners, blenders, window cleaners, coffee makers and several other gadgets which make housekeeping easier.
The oppertunities are endless. You only got to take the first steps and do your homework.