Every regular house has electrical fittings, which were installed by an electrician who sourced high-quality electrical materials from reputable electrical stores.
With the increase in government housing schemes and developer-built real estate, the demand for electrical materials is on the rise higher. The electrical sector is very wide. Electronic components, consumer appliances, industrial electronics, telecommunications, and office equipment are all included in the electrical sector.
Transformers, surge arrestors, switchgear, cables, transmission lines, insulating material, instrument transformers, capacitors, energy meters, stamping and lamination, insulators, winding wires, industrial electronics, indicating instruments, and so on are some of the electrical materials you can sell in this industry.
Read on to learn about 10 profitable electrical shop business ideas to explore right away.
Switches, Sockets, Plugs & LED Bulbs
As a beginner in the electrical shop business, you may start out by stocking and selling small electrical items such as switches, sockets, lighting bulbs, and wiring instruments. Anything that an electrical engineer might need to carry out an electrical project successfully must be sold in your shop. The prices may be little, but the turnover is high with regular sales from repeat customers.
Wire, Cables, and Optical Fibers
Wire and cables, as well as optical fibers, are essential for all electricians. These items are needed for wiring or electrifying a residence, shop, warehouse, factory, and anywhere that electricity will be used on a continual basis. Cables are needed to transfer electrical power from a major light source such as transformers, and wires are needed to transfer electricity throughout a residence. Telecommunication companies also rely on optical fibers to connect communities and towns or cities for wireless communication.
Computer Components and Accessories
If you stock and sell computer-related materials in your electrical shop, you could make a lot of money. Power cords, laptop batteries, desktop computer casing, computer panels, computer accessories, and UPS are just a few examples. Computer use is increasing on a daily basis, and technology is now present in almost every country; stocking computer components and accessories in your local store will ensure that you make a decent profit.
Asides from the electrical business shop ideas, you can also consider assembling computer parts as another source of income
Electrical Control Panels and Electronic Parts
All electrical appliances or gadgets have control panels. The panels comprise capacitors, resistors, diodes, coils, fans, and other major components. When faults develop, these components must be repaired or replaced to get them working again, hence more sales. You can stock these items in your shop to meet the electrical needs of people in your community.
Solar Panels, Inverters, and Batteries
Solar panels and inverters are taking the world by storm. Many residential homes are switching to solar energy sources and inverters for their power needs, and many commercial organizations are equally doing the same. You can stock an inventory of solar panels, inverters, and batteries that energy technicians can utilize to make alternative power installations for clients in your locality.
Voltage Stabilizers and Surge Arrestors
Voltage stabilizers and surge arrestors are essential for private homes, manufacturing factories, and other facilities where electricity is used.
Stabilizers help to stabilize fluctuating voltages to prevent damage to electrical and electronic appliances in the home; while surge arrestors withhold a damaging voltage from reaching your appliances before they become stable. When you stock these electrical items in your shop, you are sure to grow and earn well with time.
CCTV Cameras and Accessories
CCTV cameras are fast becoming a necessity in private homes, residential estates, corporate offices, medical facilities, and even in schools as well as on the streets. CCTV cameras are for security purposes and they have aided in solving lots of crimes and accidents.
You can stock your shop with high end CCTV cameras, bodycams, monitors, installation systems, and related accessories to make good money on a daily basis.
Transformers and Transmission Lines
Power transformers are required to electrify a community or town with electricity from the central grid. Houses within a community source their electricity from the transformer which is installed in the neighborhood via transmission lines.
An electrical shop business can stock transformers and transmission lines that can be used to electrify entire communities and towns. This requires top investment, but it is always worth it since local governments and corporate entities are usually the clientele.
Multi-Varied Electrical Tools
You could sell very many types of electrical tools in your shop to attract the attention of electricians, electronic repairers, and even house owners. Some of the related tools you can stock include electrical wall chasers, voltage indicators, wire cutters, multifunction tester, wire strippers, battery drills, and insulated screwdrivers.
Other Related Electrical Products
The electrical industry is very wide and you must stock as many things as come to your mind. Some items may fly off the shelf faster than others, but you would have everything that anyone may demand without turning your customers away.
Some other related stock you may consider include single-core wire, electrical tape, solder flux, solder wire, solder wick, cotton buds, freezing spray, Kapton tape, flux cleaner, wire wrapping wire, and multi-core wire among others.
The electrical business is very lucrative and permanent with high turnover. It is one business that is ever-growing and that no one can do without – since everyone needs electricity to live and to do business. Whether you are a licensed electrician or a competent apprentice, you can engage in this business model to the point of even hiring qualified employees to help out.
Photo by Mike B