Business ideas for mechanical engineering students is a list of 30 business ideas that can help them earn great returns out of their education. “Business ideas for mechanical engineering students” Top 30 business ideas for mechanical engineering students: Mechanical engineering is a unique major that is very much in demand.
The subject puts its emphasis on the design of machines, tools, and mechanisms by considering language, mathematics, science, and humanities with application to these fields.
There are many universities offering this course across the world with job opportunities ready to be explored by the graduates. For those of you who pursue a degree in mechanical engineering, it might be very difficult to think of the next steps that should be taken after graduation from college or university.
Many colleges and universities put emphasis on designing, manufacturing, and analysis of new products, equipment, and systems whereas some focus on the management of human development wisdom and research activities.
This information is important to help you form an opinion on whether to take up a job or start your own business. There are many suggestions, which could become great business ideas for mechanical engineering students. This article aims to offer 30 business ideas for mechanical engineering students.
Top 30 Business Ideas For Mechanical Engineering Students
1) Process Optimization Services:
Mechanical engineers are often involved in designing processes that can be used by manufacturing businesses for producing parts, chemicals, metals, and other components. This might lead them to form a process optimization service, which can work with different individuals or companies. It will help them explore different methods, materials, and processes required to manufacture products. This will help them in designing fast, efficient, and cost-effective production systems.
2) Product design:
Mechanical engineering students might want to form a product design service that can guide clients through the development of new or improvement of existing products. It is also one of the best business ideas for mechanical engineering students.
3) Prototype Design and Development:
As a continuation of product design, the mechanical engineering students can work on prototype development. It is important for quick testing of new products or systems with different components to establish a working model. Once a client makes up his mind to go ahead with a particular design after proper testing, then the prototype designing company can work on developing it to produce a full-fledged product.
4) CAD/CAM Services:
A few of the mechanical engineering students might want to go into Computer-Aided Design and Manufacturing (CAD/CAM). They can start their own company that will provide services like CAM programming, CNC machining, and sheet metal design.
5) 3D Printing Services:
Business ideas for mechanical engineering students do not limit themselves to conventional products only. With technological advancement, they can offer services like 3D printing that will help clients in designing products of their choice that are tailor-made to meet their satisfaction.
6) CAD Training Services:
Another business idea is to train novice engineers on CAD software. This can be a great job for those who want to teach others, but do not want to leave their jobs.
7) Product Design and Development Consultancy:
As a mechanical engineer, you might have learned the different designing software, which will help you work on product design and development consultancy. You can offer services to companies that are trying to improve their product designs by using CAD software.
8) Designing and Manufacturing of Specialized Machines:
You might have come across situations like corrective maintenance or repair of machine tools, which require specialized knowledge. It is important for the machine tool industry to keep newer machines in perfect working condition. This can be one of the best business ideas for mechanical engineering students that can help them earn a considerable income every month.
9) Manufacturing and Designing of Industrial Components:
Whether it is automotive or any other industry, the need for components like bearings, control valves, and lubrication systems never ends. Those who specialize in designing these components might want to start their own company by manufacturing them and also supplying them to different companies like automobile manufacturers, engineering units, and others.
10) Manufacturing Services:
If you are adept in making components like gears, shafts, sprockets, and other metallic parts; then you can start a manufacturing company that will provide services like machining, forging, welding and heat-treating. You can also start a workshop that will serve as your manufacturing unit and provide machining services to companies – whether they need it for one piece or thousands.
11) Designing and Manufacturing of Non-Metallic Components:
An alternate business idea is to go into designing non-metallic components like valves, handwheels, pressure gauges, and manifolds. You can start your own company that will provide services like designing, building, and testing.
12) Specialty Machine Shops:
If you are not an expert in any specific field, but if you have good knowledge of different machines like lathe, milling machine or drill presses; then you can set up your own shop that will help companies in repairing and maintaining these machines.
13) Repairing of Metalworking Machines:
Apart from manufacturing, there is a great demand for metalworking machine repairs. With just moderate capital, you can set up yourself as a full-fledged business by providing services like welding, fabrication, troubleshooting, and inspections to different companies.
14) Building Personalized Machine Tools:
Those students who are interested in designing and building their own machine tools can take patent rights for the products they make. A great opportunity comes your way if you are adept at making customized machinery for specific purposes.
15) Manufacturing Components for Mining Equipment:
The mining industry caters to different needs like gemstone mining, mineral mining, sand mining, and others. You can satisfy the demands of mining by manufacturing components that are used in it as different types of spades, tools, and buckets.
16) Manufacturing Services for Precision Engineering:
The manufacturing and design of precision engineering components require highly skilled professionals. If you have knowledge and experience about these processes, then you can make a name as a designer or manufacturer of precision engineering components.
17) Manufacturing Precision Dies:
The manufacturing units need dies for cutting, stamping, and blanking different objects. You can make it a business idea to open up your own company that will manufacture dies used in diverse industries like textile, automobile, packaging, and others.
18) Manufacture of Special Purpose Machines:
You can also manufacture machines that are used for specific purposes, which cannot be made by general-purpose machines. Some of the examples are machine tool components, milling machines, and special tools & jigs.
19) Repairing of Electronic Instruments:
If you are good at repairing electronic instruments like oscilloscope, galvanometer, spectrum analyzer, multi-meter, and others; you can take it up as a side business.
20) Repairing of Computer Peripherals:
Apart from electronic instruments, if you are good at repairing computer peripherals like printers, scanners, fax machines,s, etc., you can start your own company that will do the same.
21) Repairing of Office Equipment:
When computers were introduced, the number of office equipment has also increased in number. You can start a small repair shop that will repair different types of office machines like a typewriter, duplicating machine, stencil duplicating machine, etc.
22) Repairs of Electrical Appliances:
Along with repairing computers and their peripherals, you can even take up repairing various electrical appliances like refrigerators, television sets, washing machines, and other home appliances.
23) Repairing of Domestic Appliances:
In the same way, if you have good knowledge about domestic appliances like microwave ovens, vacuum cleaners, iron, etc., you can start your own business of repairing them.
24) Rental of Equipment to Different Industries:
Sometimes, machine shops rent out equipment like lathes, drill presses, and milling machines to different small-scale manufacturing units. This is a good opportunity for those people who own these machines.
25) Rental of Repairing Tools:
In the same way, if you have a specialized set of repairing tools that will help small-scale manufacturing units, you can rent them out to different people for a fee.
26) Sale of Second-Hand Machines:
If you have knowledge about machinery and have old machines that are not being used then you can sell them in the market when the demand increases from time to time.
27) Selling Equipment of Unskilled Workers:
When the small-scale manufacturing units need equipment to carry out their processes, they will go to the market and buy them. You can supply these products at a cheaper price than others, as you have bought them from the owners who used the machines for a few days and then quit.
28) Selling Online:
If you know how to use internet marketing techniques, you can make it an online business idea that will help you in making profits.
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29) Selling Spare Parts of Domestic Appliances:
When domestic appliances like washing machines, microwaves, and other gadgets stop working, people try to repair them; but sometimes they cannot do it on their own and look for professionals. If you know how to sell spare parts of different appliances, you can open up a shop where people who have damaged their domestic appliances can come and get these spare parts.
30) Supply of Repairing Tools to Small Scale Manufacturing Units:
When machinery is used in small-scale manufacturing units, the tools required for repairs are changed often. You can supply these repairing tools to different units on a monthly or weekly basis as per the demand.
31) Supply of Second-Hand Machines: In the same way, if you have old machines that are not being used, you can start a shop where people will come and buy them after paying money.
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Machinery plays an important role in the industrial revolutions. With the invention of new machines, old ones are being replaced. If you have knowledge about machinery and the know-how to repair them, you can start your own business where people who have old equipment will come and sell it to you or you can buy new machines from the market at a cheaper price and sell them in the market when there is a demand.
It is not necessary that you have to do this business full-time or part-time, you can do it as a side business idea either for your livelihood or even if you want to earn some extra money on weekends.