Recycling is not just good for the planet; it’s good for your wallet. The fact is the recycling industry in the US generated $117 billion last year, according to Global Recycling, and this number is only projected to rise over time.
There has never been a better time to start a recycling business. Entrepreneurs still have the option of starting a recycling firm in a small way. You don’t need a big investment to build a profitable business in your local community.
Starting a Profitable Recycling Business Is Easier Than You’d Think
There are just 1,500 dedicated recycling businesses in the US. The real number of businesses technically based on recycling is much higher, though.
When considering your next business idea, think outside the box. You don’t need a huge compactor to get started. Buying and reselling used items is a form of recycling.
It could be as simple as deconstructing broken items and using the parts to build something else. That’s a form of recycling. Dismiss those traditional ideas of what recycling businesses are.
Reduce Your Footprint by Starting Online
Whatever business idea you settle on, it’s important for you to make it sustainable. Starting out with most of your operations online is a great way to reduce your carbon footprint.
Furthermore, it’s the fastest way of getting your business off the ground. It requires minimal investment and the fact that everyone is connected makes it easier to build your initial customer base.
Plan Your Finances
No matter the type of business, finance is everything. Just because only 3% of US bankruptcies come from businesses doesn’t make the business world any less treacherous. Make sure you have a solid financial plan to get started with.
This should be written and should detail everything from your expected expenses to your expected revenue.
For larger business ideas, you may even want to hire an accountant to help you.
Make It Professional and Unique
Even if the recycling industry is a growing one, you still need to do what you can to stand out. You need a unique spin on your business idea.
For example, you may use a company like PakFactory to print out custom packaging for your business. You may also hire a professional web developer to build you a website.
Think about how your business stands out from the crowd. What is your unique selling point?
Last Word – Profitable Recycling Can Be Done
Recycling can be a highly profitable venture. Once you start to think outside the box, you’ll discover there’s a lot more variation in this industry than you may initially think.
But like any other type of business, the classic advice remains the same. Make sure you plan your finances, come up with a unique selling point, and build up a solid online presence.
If your target market appreciates what you do, it shouldn’t take too long for you to build up a reasonable profit.
Do you have any ideas in mind for building a profitable recycling business?
