If you want to start up a new business, then a recycling business could be a good choice for you. It is a good way to earn money and at the same time, keep the world in a healthy state. In today’s world governments are putting benefits in place for people and businesses that choose to recycle and that partake in the correct way to remove trash.
The upside to starting a recycling business is that not many other people are doing the same. There is most definitely potential in this area and it could just be the right time to take the leap and start up your business.
In this article we will have a look at some of the things you should have a think about before you start your recycling business.
What do You want to Recycle?
Probably the most important thing for you to decide is what type of recycling you would like your business to do. There are several options at your disposal, from paper, plastics or in rare cases people’s mattresses that they no longer need. You can visit Sleepify for any information on the best ways to get rid of your mattress. However, you should choose solely based on what you like personally but rather the potential of what can be made from each one and where you live. For example, you would not start your recycling business for metals if there is not metal waste near your home as you simply would not have the clientele to justify your business making enough money.
It is a good idea to do your own research on what waste is most used around where you live and more importantly can it be recycled. On top of that, be sure to check to see if there are any other businesses that are doing the same thing that you want to do, as they will be your competition. In addition, you will want to make your business stand out from others like yours and is unique because as with anything people like something different rather than just a run of the mill business.
Who will You Target?
You should research who will be your main customers that you decide to sell to, as it will most likely be one of the biggest areas in which you will make money and most importantly, keep your business going. So do your research so you can attract the right customers for your business.
In a recycling company, it is normal for your buyers to be other businesses. So, look at who could be your potential customers. You could look at all the smaller businesses in your area that have lots of recycled products like bottles, paper and in some cases, equipment that are made from things that have been recycled. Also, some office complexes that use recycled materials like paper clips, staples etc as well as businesses that sell recycled products to big shopping stores and your bigger chain stores too.
Then there are places you can sell to, like universities who will buy books, seats, and recycling bins. As well as some types of workshops that have a real willingness to build their products from recycled materials as well as other bigger businesses that do the same thing too.
You Need to Have a Plan
Now as anyone who has their own business will tell you, it all starts with a business plan. It will be your handbook that will help you if any problems arise. In a nutshell, when you know what you want to recycle and where you are going to sell them too, have a plan in place for the other issues for you and your company.
Every new business should have a plan that serves as a guide in the first steps, and that helps if there is a problem in the future. So, if you already know what materials you are going to recycle and to whom you will sell them, make a good plan with the rest of the important issues for your company. Every business puts together a plan that will have questions on it that will need to be answered as it is vitally important for your business to stay afloat. Questions like “How much money will be needed to start the business” “Who is our competition” “how many staff members will we need” “What are we going to recycle”? ““How much of a profit can we expect”? “What are the steps that the company will follow to start the business”? Answering all of these questions and even more can give you a good solid foundation for your start up business and can make sure that you will not run into any problems and could even help you avoid some of the pitfalls and mistakes that others have made too.
How Are You Going to Gather your Resources?
When thinking about starting your business you should think about how you are going to collect all your materials for recycling. One option could be to place some bins or containers in shopping centres or in food courts so that people will put them in there at no charge to you. Another is to offer homeowners your services to simply go from one house to the other and gather all their recyclable materials. This can be done in one of two ways, offer your services for free or collect a small fee to take away their recyclable items from their house. Another one and a cost effective one is to go and talk to some other companies and see if you can come to an agreement to take away the recyclable items that they do need anymore for free and back to your business. You can be in constant dialogue with them so when they throw out things like paper, cardboard, and other things they will simply call you to come and collect them.
Where will your Business be Based?
Everything is now in place for your business, you just need a place to do it all now. It will most likely depend on what type of items you will be recycling as that will determine how big a space you will need, whether that be in the city or on the fringes. According to research, if you are going to recycle glass then you will most likely need a bigger space than if you were to recycle paper as the recycled glass will take up more space. On top of that you will need to take into consideration what types of machines you will need as well, as they will take up space too.
Getting Your Machines for Your Business
The last step on your plan. You have everything organised now and you just need to find what kind of machines are out there for your business. Ring all the different manufacturers and get quotes on prices for their machines and work out how much you can afford to spend. Some companies will give you the option to either buy the machines outright or simply allow you to rent them for a small fee. As your business is in its infancy, it might be a good idea to rent out your machines so it is not a big outlay at once and just in case the business does not take off for whatever reason. Ultimately you should have a budget and stick to it, so do not overextend yourself, especially at the start. Read all the fine print on everything so you can make an informed decision on what machines you need.
Having a recycling business can get a great money maker if it is done right and you and your employees will know that they are doing their part for the environment too. The materials will always be there to be recycled so the most important thing is that you have your business running smoothly and effectively to take advantage of what is on offer.