The world is in dire need of people who understand the value of going green. Day by day, the earth is getting warmer due to our selfish economic gains and comforts.
What can be done to fight climate change? The best thing to do is reduce pollution and waste. Recycling business is a potentially life-changing business for all its stakeholders. It addresses the critical issue prevailing in the world and also offers monetary gain for resolving it.
Many recycling businesses, such as buying used computers, are affordable to start with high returns. It is time we embraced sustainable solutions as feasible professions. Let’s look at five recycling business ideas:
1. Computer and Laptop Recycling
Laptops and computers are made from all kinds of hazardous materials, such as plastics, metals, etc. They are causing severe damage to the environment as we continue to pile up our landfills each day. The laptop recycling industry is not only needed but profitable as well.
If you know how to recycle old laptops, you can earn handsome returns. You can start by marketing to households and various corporate offices for sourcing old laptops and computers. Then as per condition, some can be re-sold with some repair while others can be dismantled for valuable parts.
2. Aluminum Recycling
It is one of the best ideas for the recycling business. Known as the most recycled metal with the lowest risk, aluminum is used extensively in day-to-day life.
The easiest way to start your recycling business is by collecting used aluminum cans and turning them into a new product. To give you an idea of how popular aluminum recycling is, aluminum cans worth close to $900 million are recycled every year.
As of today, this industry is highly profitable and continues to grow every day. You can start from humble beginnings and meagre investments and then scale it with time.
3. Food-Waste Processing
The highest waste-producing industry in the whole world is the food industry. As per a recent survey, more than 20 million people suffer from starvation every day.
It is time to step up and make the best use of resources that provide us nourishment and peaceful sleep. Food waste can be transformed into power and energy. One of the most profitable niches is converting food waste into fertilizers. It is practical with a meager investment.
You can end up earning a reasonable profit of 15% with this idea. The supply of food waste is enormous, with an equally strong demand for quality fertilizers.
4. Waste Collection Business
You may not have the required capital for establishing your recycling plant. Then the next best option is to open up a waste collection centre.
People and various organizations can drop off their waste such as aluminium cans, paper, plastics, metals, food waste, etc. After sourcing an abundant supply of waste, you need to sort it out and sell it to recycling plants. Expect to earn a profit of at least 9% with a waste collection centre.
You will need a business mechanism through which you can scale it in the coming years. An easily reachable location with a multitude of pick-up vans is mandatory.
5. Cartridge Refilling
Printer cartridges are costly and have a bad reputation due to this. More than 300 million ink cartridges are disposed of in landfills every year.
You can estimate how dangerous and toxic it is for the environment. Hence, start a cartridge refilling business that offers toner and ink refilling to all kinds of consumers. You protect the environment, earn money and reduce your customer’s expenses.
All this just by a simple idea of cartridge refilling. It is not a highly saturated niche and is relatively easy to establish. With scale, you can have your cartridge refilling brand with multiple centers all across the country. But initially, all you need is a little knowledge and investment.
How To Make Sure Your Recycling Business Grows?
Apart from the above industries for savvy entrepreneurs, an individual needs to be clear about the demand for recyclable materials. Similarly, the collection of waste material should be steady and in large volume for better scalability.
It would be best if you also zeroed down on potential buyers of your recycled product to know the business idea’s feasibility. Consider the current rates of your buyer and then forecast the change for having a profit margin idea. Make sure you are using the best of technology and automation for smooth functioning with reduced costs.
Getting into a recycling business is one of the best decisions you can make for your entrepreneurial journey. With unique solutions, you combat a natural waste disaster and infuse money into the economy. It is time that we incorporated environmental welfare with the economic growth of the world. Recycling businesses have massive potential with advancements in technology through automation. So, if you are in a dilemma, here are five recycling business ideas that you can think of for your and the planet’s better future.
The Author: Veronica Johnson
Veronica likes reading, writing and exploring through her travel. With her freelance guest writing, she hopes to achieve both her passion and career in online content marketing. She writes on topics like business, advertising and digital marketing.