10+ Best & Profitable Hardware Business Ideas [2023]

Are you looking to start a hardware business? Take a look at our list of 10+ creative and demanding hardware business ideas that can help you get started! From automotive repair to home decor projects, discover innovative and profitable ways to launch your own hardware business.

By Nick Cotter
Updated Feb 07, 2024

Image of hardware business ideas
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Hey there, future entrepreneur! We're thrilled to see you here, brimming with ambition and ready to carve out your own path in the world of business. If you're reading this, it's probably because you're intrigued by the hardware industry, right? Well, you're in the right place. The year 2023 is on the horizon, and it's shaping up to be a golden era for hardware business opportunities.

Whether you've been in the business for years or you're just starting, there's something for everyone in the hardware industry. It's a sector known for its resilience, versatility, and profitability. But let's face it, getting started can be a bit daunting. That's why we've put together this detailed guide, to help you navigate this exciting landscape.

Over the next few paragraphs, we'll share with you over 10 of the best and most profitable hardware business ideas for 2023. These aren't just random ideas, but carefully researched and handpicked opportunities that have shown great promise. So, buckle up and get ready to be inspired, educated, and motivated to take the leap into the world of hardware business. Let's dive in!

Computer Repair Service

A computer repair service is a business that provides technical support and maintenance for computers and other electronic devices. In today's digital world, where almost every individual and business relies on technology for their day-to-day operations, computer repair services are becoming more and more in demand.

Why Would It Make a Good Business Idea?

  • Increasing Demand: The demand for computer repair services is rapidly increasing, as more people rely on technology for both professional and personal use. This presents a lucrative business opportunity for entrepreneurs who have a sound knowledge of computers and can provide reliable technical support.
  • Low Overhead Costs: Starting a computer repair business does not require a lot of capital, as there are no major overhead costs. You can start the business from your home or a small rental space, and purchase the necessary equipment and tools at a relatively low cost.
  • Flexibility: Unlike many other businesses, computer repair services can be offered on a flexible schedule. This means you can choose your work hours, take on as many or as few clients as you want, and customize your services to meet your clients' needs.
  • Opportunity for Growth: As your business grows, there are opportunities to expand and offer additional services such as data recovery, network installation and management, and cybersecurity consulting.
  • Community Impact: Providing computer repair services can be a valuable contribution to your community, helping individuals and businesses stay connected and productive in the digital age.
image of a Computer Repair Service

It Consulting Service

Are you a tech-savvy entrepreneur looking for a profitable business idea? Consider offering IT consulting services to businesses and organizations in your area.

  • What is an IT consulting service?

An IT consulting service is a business that provides technology advice and support to other businesses or organizations. This can include technology audits, system upgrades, network security, software and hardware installation, training, and more. Essentially, an IT consulting service is a one-stop-shop for all technology needs.

  • Why is IT consulting a good business idea?

The need for reliable and efficient technology is ever-increasing in today's digital age. As businesses continue to rely on technology to streamline their operations, the demand for IT consulting services is also increasing. Here are some reasons why IT consulting can make a profitable business idea:

  • High demand: Many small and medium-sized businesses don't have the resources to have an in-house IT department, making them prime candidates for outsourcing their technology services to a consultant.
  • Low overhead: With little to no inventory or physical storefront required, an IT consulting service can be operated from a home office, making it a low overhead business.
  • Scalability: As your client base grows, so can your business. IT consulting services can expand their services to include a wider range of technology support, such as web design or marketing services, for a broader revenue stream.
  • Flexibility: As an IT consultant, you can choose to specialize in a particular area of technology or offer a range of services, depending on your skills and expertise.
  • Recurring income: Many IT consulting services offer monthly or ongoing maintenance and support contracts, providing a steady and reliable income stream.
  • How to get started?

If you're considering starting an IT consulting service, start by identifying your niche and target market. Conduct market research to understand the local competition and pricing structure. Build your website and social media presence to reach potential clients. Consider partnering with other businesses, such as a local internet service provider, to expand your services and reach.

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Examples of successful businesses:

Successful companies in the hardware business industry are those that produce quality products and provide excellent customer service. Below is a list of some successful companies in the hardware business industry:

  • Ace Hardware
  • Lowe's
  • Home Depot
  • Stanley Black & Decker
  • Makita USA
  • DeWalt Tools
  • Hitachi Koki USA
  • Ridgid Tools
  • Milwaukee Electric Tools
  • Irwin Tools

Surveillance Systems Installation And Maintenance

Surveillance systems installation and maintenance is a critical service that many businesses and homeowners rely on for their security. It involves the installation and maintenance of security cameras and other systems that monitor activity and capture footage for later review. But what exactly does this involve, and why would it make a good business idea? Let's take a closer look.

  • Surveillance systems installation: This involves assessing a property to determine the best locations for cameras and other equipment, installing the equipment, and configuring it to work properly.
  • Maintenance and repairs: Surveillance systems need regular maintenance to ensure they are working properly and that footage is being captured as needed. This can involve checking connections, cleaning lenses, and replacing faulty equipment. Repairs may be needed if something breaks or malfunctions.
  • Upgrades and expansions: As technology improves, existing surveillance systems may need to be upgraded to take advantage of new features. Similarly, businesses that expand their facilities may need to add new cameras or other equipment to keep their property secure.

So why would this make a good business idea? The answer is simple: there is a growing demand for this type of service as crime rates increase and more businesses and homeowners seek to protect their property. Here are a few key reasons why this is a smart business idea:

  • Recurring revenue: many customers will want ongoing maintenance and support for their surveillance systems, which can create a steady stream of recurring revenue for your business.
  • High demand: because security is a top concern for many businesses and homeowners, there is a high demand for surveillance systems installation and maintenance.
  • Low overhead: this type of business doesn't require a lot of expensive equipment or a storefront, which means your overhead costs will be low.
  • Scalable: as your business grows, you can easily scale up by hiring more staff or expanding your service area to reach more customers.

All of these factors combine to make surveillance systems installation and maintenance a smart choice for entrepreneurs who are looking for a business idea that is both profitable and in high demand. Whether you're just starting out or looking to expand your existing business, this may be an opportunity worth exploring.

Network Cabling And Wiring Installation And Maintenance

When it comes to setting up an office or home network, there are many factors to consider. One of the most critical aspects is the installation and maintenance of network cabling and wiring. These cables and wires provide the backbone for data and communication transfer between devices, allowing for seamless connectivity and smoother business or personal use.

If you're thinking of starting a business in this field, it's essential to understand the ins and outs of network cabling and wiring. Here are some of the things you need to know:

  • Network cabling and wiring installation involves running cables through walls, ceilings, and floors to connect devices to a network. It requires knowledge of building codes, electrical work, and network design.
  • Maintenance of network cabling and wiring includes testing cables for damage and replacing damaged or outdated components. It's crucial to keep cables organized and labeled to ensure efficient troubleshooting and repairs.
  • Network cabling and wiring can be useful in both residential and commercial settings. In homes, it provides a reliable connection between devices for streaming, gaming, and general internet use. In businesses, it's essential for running applications, data transfer, and communication between employees and customers.
  • With the growth of remote work and the need for secure and reliable connections, the demand for network cabling and wiring services is rising. This presents a significant opportunity for entrepreneurs to start a business in this field.

While starting a network cabling and wiring business can be challenging, it can be a rewarding and profitable venture given the increasing need for the service. By staying current with the latest technology and offering quality installation and maintenance services, you can establish a successful business in this field.

Home Automation Systems Installation And Maintenance

Are you tired of constantly adjusting your thermostat, turning on the lights, and controlling your home theatre system manually? Home automation systems provide a solution to these problems by automating household tasks to simplify our lives. A home automation system is a network of devices that connect and communicate with each other to perform routine tasks, such as controlling the lighting and temperature in your home. In this article, we will explore the importance of home automation system installation and maintenance and why it would make an excellent business idea.

  • Home automation systems provide convenience and save time: Once the system is installed, homeowners can control various aspects of their homes with a single device or remote, saving time and effort while ensuring convenience.
  • Home automation systems increase energy efficiency and save money: The system can adjust the temperature, turn off or dim the lights, and turn off appliances, which can reduce energy consumption and cut costs, helping homeowners save money on their monthly bills.
  • Home automation systems enhance home security: Home automation can provide a secure connection between the devices in a home, and enable remote monitoring, access control and alerts, ensuring maximum safety to the owner.
  • Home automation systems are customizable and can be personalized to meet the needs of homeowners: Home automation systems can be created to match the unique needs of homeowners and how they live in their homes.
  • Installation and maintenance of home automation systems require specialized training: Professionals are needed to install and maintain a home automation system, providing opportunities for skilled individuals and businesses to become industry leaders.
  • The demand for home automation systems is expected to increase: With advancements in smart technology and the growing trend towards eco-friendliness and security, the demand for home automation technologies is projected to increase in the future, providing endless opportunities for businesses in this industry.

Electronic Component Retailer

An electronic component retailer is a business that sells individual electronic parts and components that are used to make electronic devices, such as resistors, capacitors, and transistors. The business caters to hobbyists, students, and professionals who need to purchase specific electronic parts for their projects or repairs.

  • Here's why an electronic component retailer could be a good business idea:
  • Electronic components are essential in our modern world, and their demand is continuously increasing.
  • Older electronic equipment still exists and requires repairs, causing a steady stream of new customers who need specific components to complete their repairs.
  • There are many electronic hobbyists and enthusiasts who consistently require components to build and design new projects, and they rely on retailers for access to specific parts.
  • An electronic component retailer can target a niche market with loyal customers who continuously support the business's operations.
  • An online presence and e-commerce platform can be established efficiently, allowing for a broader reach and 24/7 sales opportunities.
  • The overhead costs can be kept low, as the business only requires a small workspace and minimal equipment to manage inventory and sales.

3d Printing Service

Have you ever wanted to turn your digital designs into physical objects? Well, that's where 3D printing comes in. A 3D printing service allows customers to upload a design and have it printed in three dimensions using various materials such as plastic, metal, or even wood. But why would this make a good business idea? Let's break it down:

  • Low startup costs: Unlike traditional manufacturing which requires big investments in machinery and facilities, setting up a 3D printing service can be done relatively easily and for a low cost.
  • Versatile: 3D printing can be used in a variety of industries, from creating custom parts for engineering projects to designing jewelry or even toys.
  • Quick turnaround time: With the ability to print an object in a matter of hours, a 3D printing service can offer quick turnaround times to customers.
  • Customization: Customers can upload their own designs or work with designers to create something unique that meets their specific needs or preferences.
  • Sustainability: 3D printing can help reduce waste as objects are printed to exact specifications, minimizing excess material usage.

With all these benefits in mind, it's easy to see why a 3D printing service could make a great business idea. Plus, as the technology continues to evolve and become more accessible, the possibilities for what can be created are endless.

Computer And Accessories Retail

Are you considering starting a business and wondering what type of retail store to open? Have you thought about a computer and accessories retail store? It's a great business idea for several reasons.

  • Technology is constantly advancing, creating a high demand for gadgets and accessories.
  • People rely on technology for both personal and professional use, making it a necessity for many.
  • The computer and accessories niche has a wide potential market, from students to entrepreneurs, gamers to graphic designers.
  • The industry is relatively recession-proof, as people still need and want technology even during tough economic times.

Opening a computer and accessories retail store can be lucrative, especially if you offer competitive prices and excellent customer service. This type of business requires a solid business plan, strong marketing strategy, and an understanding of the industry trends. With the right approach, your computer and accessories retail store can become a go-to destination for tech enthusiasts and everyday consumers alike.

Smartphone Repair Service

Smartphones have become an essential part of our lives, and we rely on them for communication, entertainment, and convenience. But what happens when our trusty devices break or malfunction? That's where smartphone repair services come in.

  • A smartphone repair service is a business that specializes in fixing issues with mobile devices such as cracked screens, water damage, and software problems.
  • This type of business can operate both online and in-person.
  • There is a high demand for smartphone repair services as people are constantly using their devices, chances of damage are high.
  • Serves as a more affordable alternative to buying a brand new phone.
  • Smartphone service repairs can be easily learned through online tutorials or a basic smartphone repair workshop. Therefore, start-up overhead costs can be low.
  • The smartphone repair service industry has a high profit margin as costs for parts are relatively low compared to the service charge for repairing the phone.
  • Additionally, creating a mobile app that allows users to book repairs, request pickups through the app, and receive updates on repairs can boost the business and its value proposition.

In conclusion, smartphone repair services are an attractive business option for both experienced entrepreneurs and those looking for an accessible entry point into entrepreneurship. The industry has high demand and profit margins, and can be started with low overhead costs. Furthermore, creating a mobile app can help boost the business and make it more appealing to a younger audience who rely upon their smartphone for everyday life.

Drone Repair Service

Have you ever had trouble with your drone? Perhaps something flew into the propeller or it simply stopped working. Whatever the issue, a drone repair service could be a lucrative business idea for those with a knack for technology.

  • What is a drone repair service?

A drone repair service is a business that provides repair and maintenance services for drones. It involves fixing and examining drones, taking engines apart and putting them back together, or replacing defective components.

  • Why would it make a good business idea?

Before you invest time and money into a business idea, it's important to research the potential market for your services. Here are a few reasons why a drone repair service could be a good business idea:

  • The popularity of drones is rapidly growing, with more and more people getting into aerial photography, racing, and other drone-related activities.
  • A good portion of drone enthusiasts would rather have their drones repaired rather than purchasing completely new products.
  • Drone repairs require technical knowledge, skills and experience. If you have these skills up your sleeve or can be trained, you have the potential to make a good living from it.
  • Generally, drone repair services charge a high rate. This means that there is great potential for profit margins in comparison to other businesses.

If you're looking for a business idea and have technical skills, a drone repair service may just be the right choice for you. It's an innovative business idea with great potential that can make you stand out in the market!


Founder and CEO

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.