With tonnes of waste being produced daily, waste management is an issue all over the globe. There are ways you can turn this impending problem in a great business opportunity. But most of us are not aware how we can turn waste recycling into business. There are many ways you could start a recycling business, and you can learn that from the internet. You just need to be creative, diligent and industrious which are the same skills you use in other business. Doing business in recycling is actually is solving two problems with one solution. You can make money from garbage and also help save the environment. The best example of exemplary waste management is Sweden’s model. Sweden actually imports garbage for its Power plant from other European countries. The waste management there is not a problem but a way to produce cheap power. Recycling waste in Sweden is indeed very profitable. A model which can be and should be replicated worldwide.
Advantages and challenges of recycling business
We have seen that recycling is a great business opportunity. But how and why is the business profitable. The first reason for the profitability is that recycling needs are increasing everyday. More and more waste is being generated, and this means opportunity for new players. Also the setup cost is less than most businesses. This means reaching the break even point quickly and become profitable. Second reason is that there is huge need for recycled products. The manufacturing units looking for cost cutting options could do so with recycled products. The major business is in recycled packaging material. It is just like you use the birthday wrap you get on your birthday, that you use to wrap the gift for your friends’ birthday. Now let us examine a few challenges of recycling business.(1) Capital Intensive – The business requires capital to start. However the returns are quick. (2) Recycling machines are expensive – This can be solved if you can get the machines fabricated locally. (3) Collection is time consuming – Waste collection is very tedious and time consuming. Choose either collecting waste or recycling it as a business both combined is not always the best option.
Recycling Business ideas
There are many ways you can earn money from waste. Here are a few simple ways that you can implement into a business. This is not an exhaustive list, but some simple ideas. (1) Waste collection center – This is the easiest way to start. If you have a space where you can collect waste, you can earn money. Just need to collect the waste and the recycling plants will pick up from your center and pay cash for the waste. (2) Cartridge recycling – Reusing the same cartridge can save a lot for the corporate. Here lies the opportunity to start a business. You can provide the service of refilling cartridge and make money. (3) Construction waste recycling – Construction involves considerable leftovers and scrap. You can buy this at really low cost and resell them at other construction sites. Things like hardwood, construction waste and electrical goods can really help you make money quickly and also help the environment in the process.