Are you about starting an e-waste recycling business? If YES, here is a complete sample e-waste recycling business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting an e-waste recycling business. We also took it further by analyzing and drafting a sample e-waste recycling marketing plan template backed up by actionable guerrilla marketing ideas for e-waste recycling businesses. So let’s proceed to the business planning section.
If there is any industry or line of business that is gaining support from key stakeholders in our world today, it is the recycling industry. This is so simply because the recycling business is an eco-friendly business that can earn you a living and make you a business owner and an employer of labor.
There are diverse niches – areas of specializations in the recycling industry and one of them that you can specialize on is to go into e- Waste Recycling business. It is a business that is highly profitable especially as electronic – technology continues to advance over the years.
All you would need to launch an e – waste recycling business is the machines and equipment needed and how to operate them, a good knowledge of where to collect ewastes and where to sell them, the legislations guiding the industry as well as strong entrepreneurial skills and perseverance.
If you are interested in starting an ewaste recycling company, then you should be ready to conduct due diligence before committing your money and other resources to it. Aside from a thorough and detailed feasibility studies and market survey, one of the important documents that will aid the success of the business is a good and workable business plan.
Below is a sample e – waste recycling company business plant template that can help you successfully write your own business plan without difficulty;
A Sample E-Waste Recycling Business Plan Template
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
1. Industry Overview
The recycling industry of which electronic waste recycling is a part of has become an integral part of modern society not only due to its social and economic impact but also because it plays a vital role for the future of our planet. In the world today, it is estimated that over 1 trillion tons of waste at the household level and in industries is generated.
Common materials for recycling include bottles, paper towels and aluminum cans et al and the niches available in the recycling industry are metals recycling, plastics recycling, electronic recycling, water recycling, oil recycling, glass recycling, furniture recycling , garbage recycling, tire recycling, construction waste recycling, paper recycling, battery recycling, cartridge recycling and industrial waste recycling.
E-waste which is also known as electronic waste are basically electronic products that are faulty, condemned or have become obsolete and can no longer be used. E – Waste includes used computers, televisions, radios, tablets, mobile phones, and several other used electronic products. Such materials are better reused when they are recycled as against allowing them to be buried under the earth.
Players in the e – Waste Recycling industry basically collect, separate, sort and process electronic waste materials. E – Waste Recycling companies make money/profits basically sell reusable parts and valuable metals and other materials recovered during the recycling process.
Some environmental experts further say that the world market for waste, from collection to recycling is worth around 300 billion Euros (US $410 billion). The recycling business is therefore a growing business that has futuristic benefits; there are markets in the developing world that can be tapped into especially in Africa, Asia and Latin America.
The e – Waste Recycling industry is indeed a very thriving industry in most countries of the world. It is a major sector of the economy of the united states and it generates a whooping sum of well over billion annually from more than 2,723 registered and licensed freight e – Waste Recycling companies scattered all around the United States of America.
The industry is responsible for the employment of well over 35,494 people. Experts project that the e – Waste Recycling industry to grow at a 13.4 percent annual rate. There is no establishment in this industry that has a dominant market share in the United States.
According to research published by IBISWORLD, the e – Waste Recycling industry has a low level of market share concentration, with the industry’s four largest companies expected to account for a low share of industry revenue. Small companies that manage only one or two facilities at a local or regional level carry out most electronics recycling.
These companies are either contracted out by municipal governments to carry out the electronics recycling needs of a certain jurisdiction, or are paid by electronics manufacturers and retailers, who are required by certain state laws to pay for the proper disposal of the electronics that they manufacture or sell.
The e – Waste Recycling industry has come to stay and the good part of it is that it enjoys the support of environmentalist and the government of various nations since it is a means to preserve the earth from degradation, greenhouse gas emissions and environmental pollution.
Although establishing your own e – Waste Recycling Company requires huge startup capital and rigorous processes to build your own plant, but it is a fact that it is indeed a profitable venture. The market for recycled electronic waste is large and can accommodate loads of investors.
2. Executive Summary
Bobby Jay e – Waste Recycling®, LLC is a U.S based, licensed and standard recycling company with strong bias for electronic waste recycling. We have been able to secure a standard and well – positioned facility in the outskirt of town in Providence, Rhode Island; a facility that is well positioned and highly suitable for the kind of e – waste recycling plant that we want to build.
We are in the e – Waste recycling industry to contribute our quota in saving the earth and also to compete in the highly competitive recycling industry not only in Providence – Rhode Island, but also throughout the United States market.
Bobby Jay e – Waste Recycling®, LLC will initially be involved in the recycling of electronic waste materials but will in the nearest future engage in the recycling of other materials. Our business goal is to become one of the leading recycling companies in the United States of America and we will make sure that we do all we can to compete favorably with leaders in the industry.
Our workers are going to be selected from a pool of certified and highly experienced recycling engineers and technicians in and around Providence – Rhode Island and also from any part of the United States of America as the business grows.
We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading e – Waste recycling plants in the United States and throughout the globe.
At Bobby Jay e – Waste Recycling®, LLC our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.
We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for all our partners, employees and for our clients.
Bobby Jay e – Waste Recycling®, LLC is founded by Engr. Robert Jason a recycling engineer per excellence who graduated with from Illinois Institute of Technology (B.Engr.) and his friend and business partner for many years Tyler James (B.Sc. Business Management).
They have a combine experience that can help them build Bobby Jay e – Waste Recycling®, LLC to favorably compete with other leading recycling plants in the United States of America and throughout the globe.
3. Our Products and Services
Bobby Jay e – Waste Recycling®, LLC was established with the aim of maximizing profits in the e – Waste recycling industry.
We want to compete favorably with the leading e – Waste recycling plants in the United States which is why we have but in place a competent quality assurance team that will ensure that every recycled electronic material or products that leaves our recycling plant meet and even surpass our customers’ expectations and meet with best practices in the industry.
We will work hard to ensure that the products and brand of Bobby Jay e – Waste Recycling®, LLC is not just accepted in Providence – Rhode Island but also in other cities in the United States of America. Our products and services are listed below;
- Operating facilities for separating and sorting computers for recycling
- Operating facilities for separating and sorting hard-copy devices for recycling
- Operating facilities for separating and sorting TVs for recycling
- Operating facilities for separating and sorting mobile devices for recycling
- Sale of recycled and refurbished used computers, televisions, radios, tablets, mobile phones, and several used electronic products.
4. Our Mission and Vision Statement
- Our vision is to establish a standard and world class e – Waste recycle plant whose products and brand will not only be accepted in Providence – Rhode Island but also in other cities in the United States of America.
- Our mission is to provide standard recycled electronic materials that will assist the relevant industries in saving cost and energy and also to contribute our quota in helping save our world from unnecessary degradation caused by buried electronic material waste. We want to build an e – Waste recycling plant that can favorably compete with other leading brands in the recycling industry.
Our Business Structure
Bobby Jay e – Waste Recycling®, LLC is an e – Waste recycling company that intend starting small in Providence – Rhode Island, serving smaller industries within our locations, but hope to grow big in order to compete favorably with leading e – Waste recycling plants in the industry both in the United States and on a global stage.
We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.
At Bobby Jay e – Waste Recycling®, LLC, we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Head, Technical Services
- Human Resources and Admin Manager
- Sales and Marketing Executive
- Plant Engineers/Technicians and Operators
- Client Service Executive
- Truck Drivers
5. Job Roles and Responsibilities
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Head, Technical Services:
- Serves as project manager of the organization; works directly with employees in the e – Waste recycling plant
- Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
- Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
- Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
- Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
- Maintains quality service by establishing and enforcing organization standards.
- Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
- Makes certain that the technical department perform efficiently, coordinate employee efforts, and facilitate communications between management and recycling plant engineers, technicians and machine operators
- Ensures that the organization work in line with international best practices as it relates to e – Waste Recycling industry.
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Designs job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversees the smooth running of the daily office activities.
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, execute and evaluates new plans for expanding increase sales
- Creates new markets cum businesses for the organization
- Empowers and motivates the sales team to meet and surpass agreed targets
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for Bobby Jay e – Waste Recycling®, LLC
- Serves as internal auditor for Bobby Jay e – Waste Recycling®, LLC
Recycling Plant Engineers (2) and Technicians/Machine Operators (8)
- Responsible for installing, maintaining and repairing of all the recycling machines in the plant
- Responsible for operating recycling machines in the plant
- Operates facilities for separating and sorting computers for recycling
- Operates facilities for separating and sorting hard-copy devices for recycling
- Operates facilities for separating and sorting TVs for recycling
- Operates facilities for separating and sorting mobile devices for recycling
- Handles any other job functions as it relates to recycling materials.
- Assists in loading and unloading electronic waste materials and recycled materials.
- Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
- Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment, such as hazardous material placards.
- Assists the transport and logistics manager in planning their route according to a pick – up and delivery schedule.
- Inspects vehicles for mechanical items and safety issues and perform preventative maintenance
- Complies with hazardous waste truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
- Collects and verifies delivery instructions
- Reports defects, accidents or violations
Client Service Executive
- Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
6. SWOT Analysis
Bobby Jay e – Waste Recycling®, LLC engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured e – Waste recycling business that can favorably compete in the highly competitive recycling industry in the United States and the world at large.
Part of what the team of business consultant did was to work with the management of our organization in conducting a comprehensive SWOT analysis for Bobby Jay e – Waste Recycling®, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Bobby Jay e – Waste Recycling®, LLC;
Our core strength lies in the power of our team; our workforce. We have a team of certified and highly trained and experience recycling engineers and technicians/machine operators, a team with excellent qualifications and experience in various niche areas in the recycling industry.
Aside from the synergy that exists in our carefully selected workforce, our product will be guided by best practices in the industry and our e – waste recycling plant is built to fit into the design of a 21st century recycling plant.
As a new e – waste recycling plant in Providence – Rhode Island, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients (big time manufacturing / production companies that make use of recycled electronic materials) in the already saturated and highly competitive recycling industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to pump into promoting our business the way we would want to.
No doubt, the opportunities in the e – waste recycling industry is massive considering the number of individuals and manufacturing companies who are now switching over to alternative source of raw materials basically to save cost and energy. As an e – waste recycling company, we are ready to take advantage of any opportunity that is available in the industry.
Aside from unfavorable government policies, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of new recycling plants in same location where our target market exists and who may want to adopt same Business model like us.
7. MARKET ANALYSIS
- Market Trends
One obvious trend in the e – Waste Recycling industry is that players in this industry leverage on saving the earth and balancing the ecosystem to promote their business. As a matter of fact, governments all over the world and even international Non – Government Organizations are in the forefront when it comes to campaigning in favor of recycling materials to generate raw materials for industries as against tapping virgin raw materials. This is so because it will help save cost and energy and the earth that we live in will be the better for it.
Another trend is that is common in the e – waste recycling industry is that, with the advancement of technology, it is now easier to recycle and process almost any materials and liquid waste that exist in our world. This trend and the immerse support from government and NGOs is sure responsible for encouraging investors to venture into the e – waste recycling industry
In spite of obvious recessionary challenges and in the wake of a consumer preference shift toward green products and growth in environmental regulations that encourage recycling of electronic waste. The e – waste recycling industry is expected to experience healthy growth going forward as purchases of electronics drive demand for the recycling of obsolete products and regulation for the industry increases.
Lastly, more and more manufacturing industries are beginning to see the benefits of going for recycling materials as against going for virgin raw materials in the production of their products. This is the reason why the industry is expanding and becoming more profitable and viable.
8. Our Target Market
Prior to starting our e – waste recycling business in Providence – Rhode Island, we conducted a market survey and feasibility studies and we are certain that there is a wide range of manufacturing/production factories that cannot successfully run their businesses without sourcing for recycled electronic materials from us.
In view of that, we have created strategies that will enable us reach out to various manufacturing/production companies who we know can’t afford to do without our products/recycled raw materials. Below is a list of the people and organizations that we have specifically market our products and services to;
- Electronics manufacturing companies
- Automobile manufacturing companies
- Roofing and construction companies
- Chemical manufacturing companies
- Manufacturers and Distributors
- Entrepreneurs and Start – Ups who would need recycled raw materials from us.
Our Competitive Advantage
The recycling industry is an emerging market that is yet to be fully accepted globally, therefore there is little or no competition in the industry at the moment. Although, there is a relationship between the emerging players as they cannot do without the other. Since the industry is a multi-stage one, there is need for collaboration among the players in order to have a win-win situation for all the players.
Without a shadow of doubt, there are loads of big time investors that have a stake in the e – waste recycling industry; but one thing is certain, there is room big enough to accommodate all players. So, if you enter the industry today, you should brace up yourself for collaboration and prepare for serious competition in the nearest future as soon as the recycling industry enter it boom period, this period will definitely arrive especially in the developing world in little time when recycled product is seen in the same light as the new and “virgin” materials.
Our competitive advantage lies in the power of our team; our workforce. We have a team of certified and highly trained and experience recycling engineers and technicians/machine operators, a team with excellent qualifications and experience in various niche areas in the recycling industry.
Aside from the synergy that exists in our carefully selected workforce, our product will be guided by best practices in the industry and our e – waste recycling plant is built to fit into the design of a 21st century recycling plant.
Lastly, all our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups e – waste recycling companies in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Bobby Jay e – Waste Recycling®, LLC is established with the aim of maximizing profits in the e – waste recycling industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients. Bobby Jay e – Waste Recycling®, LLC will generate income by selling and supplying the following products;
- Sale of recycled and refurbished used computers, televisions, radios, tablets, mobile phones, and several used electronic products.
- Supply of well – sorted electronic materials to manufacturing/production factories
10. Sales Forecast
One thing is certain, there would always be manufacturing/production companies who cannot but source their raw materials from electronic waste recycling plants.
We are well positioned to take on the e – waste recycling industry and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six month of operations and grow our e – waste recycling company to enviable heights.
We have been able to critically examine the e – waste recycling market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Providence – Rhode Island.
Below are the sales projections for Bobby Jay e – Waste Recycling®, LLC, it is based on the location of our business and of course the wide range of our products and target market;
- First Fiscal Year-: $240,000
- Second Fiscal Year-: $550,000
- Third Fiscal Year-: $900,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor within same location where our e – waste recycling plant is located or where our target market exist. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there are stiffer competitions in the e – waste recycling industry; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the e – waste recycling industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Bobby Jay e – Waste Recycling®, LLC.
Our corporate goal is to grow Bobby Jay e – Waste Recycling®, LLC to become one of the top 10 e – waste recycling brands in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Providence – Rhode Island but also in other cities in the United States of America.
Bobby Jay e – Waste Recycling®, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduces our e – waste recycling company by sending introductory letters alongside our brochure to manufacturing/production companies and other key stake holders in the manufacturing industry.
- Advertises our business in relevant business magazines, newspapers, TV stations, and radio station.
- List our business on yellow pages ads (local directories)
- Attends relevant international and local expos, seminars, and business fairs et al
- Creates different packages for different category of clients in order to work with their budgets and still deliver good recycled electronic materials
- Leverage on the internet to promote our business
- Engages direct marketing approach
- Joins local chambers of commerce and industries with the aim of marketing our products
- Encourage word of mouth marketing from loyal and satisfied clients
11. Publicity and Advertising Strategy
We have been able to work with our in house brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for manufacturing/production companies in the whole of Providence – Rhode Island and beyond which is why we have made provisions for effective publicity and advertisement of our e – waste recycling company.
Below are the platforms we intend to leverage on to promote and advertise Bobby Jay e – Waste Recycling®, LLC;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events/programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our products
- Install our Bill Boards on strategic industrial locations all around Providence – Rhode Island
- Engage in road show from time to time in targeted industrial estates
- Distribute our fliers and handbills in target areas
- Contact manufacturing/production companies by calling them up and informing them of Bobby Jay e – Waste Recycling®, LLC and the products we offer
- List our e – Waste Recycling Company in local directories/yellow pages
- Advertise our e – Waste Recycling Company in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles/trucks are well branded with our company logo et al.
12. Our Pricing Strategy
At Bobby Jay e – Waste Recycling®, LLC we will keep the prices of our recycled electronic materials below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.
We are aware that there are some one – off jobs or government contracts that are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.
- Payment Options
The payment policy adopted by Bobby Jay e – Waste Recycling®, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Bobby Jay e – Waste Recycling®, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via mobile money
- Payment via Point of Sales Machines (POS Machines)
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for the purchase of our recycled products.
13. Startup Expenditure (Budget)
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a standard e – waste recycling plant; it might differ in other countries due to the value of their money.
However, this is what it would cost us to set up Bobby Jay e – Waste Recycling®, LLC in the United of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $3,500
- Acquiring facility that will accommodate the design of e – waste recycling plant we want to build will cost – $150,000.
- The amount required to purchase the needed recycling equipment and machines – $120,000
- Equipping the office (computers, printers, projectors, markers, servers/internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $30,000
- Amount required to purchase the needed software applications to run our business – $3,500
- The cost for start-up inventory (purchase of used computers, televisions, radios, tablets, mobile phones, and several other used electronic products) – $5,000
- Launching an official Website will cost – $500
- Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
- Amount needed to acquire trucks – $50,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
Going by the report from the market research and feasibility studies conducted, we will need about four hundred and fifty thousand (450,000) U.S. dollars to successfully set – up a medium scale but standard e – waste recycling plant in the United States of America.
Generating Funds/Startup Capital for Bobby Jay e – Waste Recycling®, LLC
Bobby Jay e – Waste Recycling®, LLC is a business that will be owned and managed by Engr. Robert Jason and his friend and business partner for many years Tyler James. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $100,000 (Personal savings $70,000 and soft loan from family members $30,000) and we are at the final stages of obtaining a loan facility of $350,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Bobby Jay e – Waste Recycling®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to sell our recycled and refurbished materials a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Bobby Jay e – Waste Recycling®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Securing a standard facility to build a standard and modern recycling plant: Completed
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founders: Completed
- writing of business plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the business: Completed
- Purchase of repair and installation tools and equipment: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed recycling machines, equipment and trucks: In Progress
- Purchase of the Needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating Awareness for the business: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries and pick – up point for e – Waste: In Progress