A pallet which can also be referred to as a skid, is a flat transport structure which supports goods in a stable fashion while being lifted by a forklift, a pallet jack, a front loader, a jacking device, or an erect crane. A pallet is the structural foundation of a unit load which allows handling and storage efficiencies.

Goods or shipping containers are often placed on a pallet secured with strapping, stretch wrap or shrink wrap and shipped. Since its invention in the twentieth century, its use has dramatically supplanted older forms of crating like the wooden box and the wooden barrel, as it works well with modern packaging like corrugated boxes and intermodal containers commonly used for bulk shipping.

Please note that while most pallets are wooden, pallets can also be made of plastic, metal, paper, and recycled materials. Each material has advantages and disadvantages. If you are interested in starting a pallet related business, here are some of the business ideas you can choose from;

10 Best Pallet Business ideas & Opportunities for 2020

  1. Start Sale and Supply of Pallets

Sales and supply of different types of pallets is no doubt one of the thriving and profitable pallet related business idea that is open to investors. Logistics companies and other related companies that are involved in moving stuffs usually need pallets.

This goes to show that there is a large market for pallets. So, if you are interested in starting a pallet related business, then one of your options is to open a shop or warehouse that sells and supply different types of pallets such as wooden, plastic, paper, steel and aluminum pallets et al.

  1. Start Pallet Rental Business

There are some startup logistics companies who don’t consider buying their own pallets a necessity. What they usually do if they intend moving containers or stuffs with cranes, forklift or trucks is to rent the types and number of pallets they need for the task.

So, if you live around an industrial or shipping area and you intend starting a pallet related business, one of your best options is to go into pallet rental business. The truth is that this type of business is highly profitable in a town that has a functional and thriving shipping industry.

  1. Start Pallets Refurbishing and Repair Business

The fact that pallets are usually subjected to wear and tear makes pallet refurbishing and repair a viable pallet related business that can be started in a town that has a functional and thriving shipping industry. If you have carpentry and engineering background and you are looking towards starting a pallet related business, then one of your options is to open a business that refurbishes and repairs pallets.

  1. Open a Pallet Consignment Shop

There are several stuffs that can be sold in a consignment shop and if you are looking towards starting a pallet related business that requires minimal startup capital, a business that is thriving and profitable, then you should consider opening a consignment shop that deals in different types of second- hand pallets; a place where startup businesses with low income can purchase neatly used pallets.

As a matter of fact, there is a large market for secondhand stuffs all over the globe. So, if you intend starting a simple pallet business, then one of your options is to open a pallet consignment shop. It is important to locate this type of business in a town that has a functional and thriving shipping industry.

  1. Start the Production of Wooden Pallets

Another thriving and profitable pallet related business that a trained carpenter can start is the production of different sizes of wooden pallets. Wooden pallets typically consist of three or four stringers that support several deck boards, on top of which goods are placed. In a pallet measurement, the first number is the stringer length and the second is the deck board length. Square or nearly square pallets help a load resist tipping.

  1. Start the Production of Plastic Pallets

The production of plastic pallets is yet another pallet related business idea that an aspiring entrepreneur should consider. Plastic pallets are often made of new HDPE or recycled PET (drink bottles). They are usually extremely durable, lasting for a hundred trips or more, and resist weathering, rot, chemicals and corrosion.

The benefits of plastic pallets over wood pallets include the ability to be easily sanitized, resistance to odor, fire retardancy, longer service life span, durability and better product protection, non-splintering, and lighter weight, thus saving on transportation and labor costs and making them safer and more environmentally friendly.

They often stack. Plastic pallets are exempt by inspection for biosafety concerns, and they easily sanitize for international shipping.

  1. Start the Production of Paper Pallets

An investor who is interested in starting a pallet related business can choose to go into the production of paper pallets. Paper pallets, also referred to as “eco – pallets”, are often used for light loads, but engineered paper pallets are increasingly used for loads that compare with wood. Paper pallets are also used where recycling and easy disposal is important.

New designs of eco – pallets have been made from just two flat pieces of corrugated board (no glue / staples) and weigh just 4.5 kg (9.9 lb), offering dramatic freight savings. Eco – pallets are also ISPM 15 exempt, negating fumigation and barrier “slip” sheets. They are cleaner, safer, and provide a cost-saving eco-friendly alternative to other pallet materials.

  1. Start the Production of Steel Pallets

Another pallet related business idea that an aspiring entrepreneur should consider is the production of steel pallets. There is indeed a large market for steel pallets. This is because steel pallets are strong and are used for heavy loads, high-stacking loads, long term dry storage, and loads moved by abusive logistic systems.

General advantages of metal pallets are high strength and stiffness, excellent durability, resistance to bugs, the absence of splinters, sanitization, and recyclability.

  1. Start the Production of Aluminum Pallets

The production of aluminum pallets is yet another pallet related business idea that an investor should consider starting. Just like steel pallets, aluminum pallets are also in high demand because of its obvious characteristics. Aluminum pallets are stronger than wood or plastic, lighter than steel, and resist weather, rotting, plastic creep and corrosion.

They are sometimes used for air-freight, long-term outdoor or at-sea storage, or military transport. Trust me there is a large market for aluminum pallets and some of the primary industries that use metal pallets include automotive, pharmaceutical, lawn tractors, motorcycles, and tires.

  1. Start Pallet Storage Business

If you own an empty warehouse in and around a town that has a functional and thriving shipping industry, then one of the pallet related business ideas you should consider starting is pallet storage business.

Pallet storage businesses help those who make use of pallets but don’t have a large enough facility to store the pallets. Trust me, you are going to make good returns from this business especially if you know how to network with logistics and shipping companies that make use of pallets on a regular basis.