Waste Recycling business is an eco-friendly business opportunity as it reduces harmful substances from the environment.
Recycling business idea can from the environment we live, either in an urban or rural area.
Recycling business opportunity can involve collecting cans, bottles, paper and other recyclable materials.
Some recyclers focus on other items considered to be very lucrative like gold found in cell phones or computers household goods wall clock and fans.
Whichever object you choose start recycling, make sure to consider the options properly and decide which is possible for your environment.
What is recycling?
Who doesn’t know what recycling is? but to ensure your waste recycling business works, we need to know what recycling is.
Basically, recycling is the process of taking a waste material (it can be paper, glass, plastics etc).
therefore, instead of taking the waste to the refuse dump or landfill, these materials can be recycled as a resource that can still be useful.
Even though large materials can be recycled, not all are recyclable. Example, Hazardous waste.
since large chunks of material are recyclable, it means that business can reduce the large material waste that would drop in the landfills-reducing the damage that will cost the environment through recycling.
Why Start a Waste Recycling Business?
- A variety of products to recycle. You have the option of products to choose from.
- Environmentally friendly.
- It’s profitable and has great future potentials.
Some recycling facts…
- Plastics account for 60-80% of marine litter killing marine life.
- Computers, Cell phones, and other electronics are congesting the landfills
- In the United States recycling 75% of the Nation’s waste will create nearly 1.5 million jobs by 2030, making more job opportunities.
- Recycling old paper uses 30% to 55% less energy than making paper from trees and reduces related air pollution by 95%.
Benefits of waste recycling business
- reduce the volume of waste
- reduce the waste disposal cost by eliminating excessive garbage
- saves money
- create excessive space
- impact the environment
- eliminate landfill waste
- creates jobs
The following steps outline all the steps required to start a waste Recycling Business.
The following shows you how to turn a recycling business idea into a reality
- Decide the type of material to recycle
This is the first thing to do. There are materials that produce higher revenue than others. Recycling paper or bottles don’t yield much revenue.
On the other hand recycling Cell phones, Computers, and others containing Gold and other useful metals bring in more revenue.
Recycling household materials, on the other hand, can be less intensive and profitable.
- Do a Feasibility Study
Undertake a feasibility study to determine the availability of the material you intend to start recycling.
Ascertain the potential of recycling the material and the general viability of the business.
Decide to recycle a product that is readily available and with little competition from other recyclers.
For instance, if a business focuses on recycling Gold from Computer and Cellphone, focus on recycling household items.
Unless you’re sure the business is not meeting the demands of the people around and you can provide a better option to customers.
- Write a recycling Business Plan
The business plan outlines your plans and structure on how you intend to achieve the goals and vision of the business. It can also include the mission statement, the service, operational cost, strategies, target market, sales, distribution and projected profit.
Your Business plan is a guide to whatever you need to start and run the business. It’s also your doorway to raising capital from investors and lenders.
- Register the Business and obtain licensing
Register the Business to build your identity and obtain a sales permit for recycling the particular product you choose to recycle. These permit will be approved when your business meets the required standard and your willingness to adhere to it.
For instance, your recycling factory must be according to a standard which will do what you say and as well reduces hazard that may arise.
- Raise the capital
You will need to raise capital to start the business if you don’t have that already.
Raising capital to begin your business is vital to your success.
With a good business plan, you can find investors and lenders that can invest in the business.
- Hire people
Find people that will do the job of collecting the materials that will be recycled and those that will be in charge off the recycling.
- Procure the equipment
Buy the necessary equipment that will be used to recycle the product. This equipment may vary depending on the product you’re using.
Some of the recycling equipment’s include Vertical Balers, Horizontal Balers, Shredders, Baling Wire, Scrap Handling and Sorting Systems
- Start the business
Now I assume you’re set, you can open the place for business.
- Advertise your business
Start advertising your business. You can begin by telling people close to your location, printing of flyers and using social media to target more people within your location.
Waste recycling business opportunities are enormous, you choose which one you can start with and be sure you’ll be heading to making a profit.