Recycling can be a profitable part of your business or even a profitable business on it’s own. Besides, it is a great feeling to know that you are making a positive impact on the environment. But how do you know if recycling makes business sense too? The following questions are designed to help show you how to start a profitable recycling business.
Five questions to answer as you create a business plan for your recycling business.
1. What waste materials would you recycle? Consider which recyclable materials have the highest demand and are easily available in volume (i.e. cardboard, plastic, metal, textile, etc.).
2. How would you collect the waste material? A steady supply of the recyclables in signifiagant volumes over a long period is ideal. Proximity of your sources is important, also, as you evaluate transportation costs.
3. Who would be the buyers of the final product? Which industries have a market demand for your reusable materials? Consider how much your buyers will pay for recyclables in bale form.
4. How will you finance your business? Consider grants or special loans that may be available from the government or other environmental programs. Costs would include your facility, equipment, staff, and electricity, in addition to the transportation, storage, and handling of the waste and recycling materials.
5. How will you make your operation efficient and profitable? Identify what equipment will be needed to efficiently process the recyclables. Processes such as sorting, baling, storage, and delivering the recyclables for easier transport and reuse should be evaluated. Baling equipment will help automate the processes and are designed for various facility needs.
If you are looking for recycling and waste management equipment for your business or facility, we can help you find the ideal equipment to suit the type of materials, volume, and your facility.
Here are some more resources to help you start your recycling business:
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