External Hub Led
A look at what is currently available on eBay
 7-PORT External USB 2.0 LED HUB Powered Splitter +CABLE US $7.29 
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 Icon USB 2.0 External 4 Port Circle Hub w/LED Lights US $.99
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 Icon USB 2.0 External 4 Port Round Hub with LED Lights Black NEW US $7.99
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 Icon USB 2.0 External 4 Port Round Hub with LED Lights Blue NEW US $7.99
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 7 Ports Hi-Speed USB 2.0 External LED Hub Splitter NEW US $.02
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 7 Port USB 2.0 HUB 480Mbps Led Light External Power US $9.90
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 7 Port External USB 2.0 LED High-Speed HUB Powered Splitter + AC Adapter Cable US $7.99
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How much power does an external hard drive consume?
I just built my own external hard drive and it worked with a desktop. But when I plugged it on my laptop it didn't do anything, didn't recognized it but it has the LED on.
I'm assuming that my laptop's USB doesn't have enough power to support external hard drives. So I'm planning to buy a USB hub w/ a power adapter to have its own power, will it work? my laptop has 1.1 USB and it can support up to 500mA power...
HDDs consume little power when running (<3W for 2.5" units).
http://www.channelregister.co.uk/2007/11/28/fujitsu_pledges_320gb_hdd/
However, starting current to spin up the motor could get as high as 1000mA. A self-Powered Usb Hub would definitely solve your problem.
Items recently purchased from this site
7 Port USB 2.0 HUB 480Mbps Led Light External Power , Icon USB 2.0 External 4 Port Round Hub with LED Lights Black NEW, Icon USB 2.0 External 4 Port Round Hub with LED Lights Blue NEW, 7 Port External USB 2.0 LED High-Speed HUB Powered Splitter + AC Adapter Cable, 7-PORT External USB 2.0 LED HUB Powered Splitter +CABLE, 7 Ports Hi-Speed USB 2.0 External LED Hub Splitter NEW, Icon USB 2.0 External 4 Port Circle Hub w/LED Lights,