As more and more people are becoming aware of their own carbon footprint, the recycling industry has seen massive growth. What was once an optional but healthy habit to have, it’s now become a global business opportunity and there are countless ways to get involved and have your own little slice of the recycling pie. Unfortunately, there are so many niche opportunities that it can be hard to capitalize on and many of them require specialized knowledge in certain sectors in order to get the best out of it.
In this article, we’ll be talking about the business of recycling, how to get involved and also some considerations to keep in mind before you take the plunge and invest.
Recycling as part of your existing business
One of the best ways to utilize the business of recycling is to actually implement it in your existing business. There are many companies nowadays that advertise themselves as being friendly to the environment, and this usually stems from a reducing waste and vowing to use more renewable resources and being more resourceful. This includes things like purchasing watertanks to harvest rainwater and reuse it for various purposes (for instance, farming or being used to wash equipment in your business) and it could even mean hiring a third party to help you recycle your waste and materials. There are plenty of different ways to approach this, and it’s important that you look at the opportunities available in order to make recycling a part of your business.
As long as you advertise this commitment to recycling and being less wasteful, you’ll become a more attractive business to your audience and you’re more likely to grow popular. Showing your customers that you care about the environment is a quick way to become a green business, and this can do wonders for your business’s popularity and reputation. It doesn’t take a long time to get involved and you can make the switch in just a week if you’re vigilant about it. Just keep in mind the cost considerations and speak with your advisors to determine how much money you can save.
The challenges of a recycling business
Recycling businesses typically aren’t very popular as startups due to the capital involved. While you can start on a smaller scale in your own country, the big profits and exposure are in other countries. For instance, there are countries that still do not have the infrastructure to recycle simple materials such as plastic bottles and paper. This has led to a huge waste problem and people have started to focus more on waste management. However, they’re not dealing with the root of the problem which is the wasteful nature of developing countries.
However, it’s hard to change something so big, which is why it’s important to focus on recycling as the alternative. As a recycling company, you essentially wedge yourself between the public and their waste management. You’re essentially interrupting certain types of waste and turning them into something useful, which ultimately means less business for those waste management companies. This means that it can be rather expensive taking on such a huge task, but it can be made easier if you’re willing to do your research.
Setting up your own recycling plant is entirely possible, but you need to be wary of how much money it takes. Building a factory isn’t cheap, and intercepting waste and finding a way to make the public aware that you exist as a business will take a lot of money. You’re going to be changing the way people think about their waste, and it’s no easy task.
With that said, you can make it easier on yourself by focusing on a specific type of waste to recycle. Some companies focus on things such as aluminum cans while others focus on construction waste, which is especially lucrative in developing countries that are raising new buildings every few days. The type of recycling business you become will greatly depend on the material you’re focusing on, so we’ll be covering a couple of the most profitable ideas.
- Waste Collection Centre – If you don’t think you have the capital to start a recycling plant itself, then you could always start with a waste collection centre. It’s still profitable and can be upgraded down the line to also process the waste instead of just collecting it. These types of businesses typically collect the waste that larger plants will turn into usable materials.
- Construction Waste – As mentioned before, construction waste is rampant especially in developing countries. Wedging yourself in between the construction company and waste management is a great way to begin a startup business. Just keep in mind that you’ll need to look for contracts in order to make a profit, but building a reputation should be easy especially if the country you’re working in has no reputable construction waste collection and processing companies.
- Recycling Printer Cartridges – A popular option even in developed countries. Ink cartridges are surprisingly wasteful but they can easily be refilled and reused. There are already many companies making a profit off reusing ink cartridges, or even refilling and reselling them as a different brand.
- Aluminum Cans – A great startup option to help you test the waters would be an aluminum can recycling company. It can make money by just being a collection service that hoards aluminum cans, but it can also grow into a business that also processes the recyclable metals. You could even start a business like this in your neighbourhood with virtually no capital by posting collection notices on a community bulletin board.
There are many different ways to get into the recycling industry and there are multiple levels of investment that you can consider. Some people prefer to start small while others have the capital and knowledge to develop a huge recycling plant in a developing country. With so many ways to generate profit, the business of recycling is certainly something to consider for all entrepreneurs regardless of experience.