Are you interested in starting a recycling business but you don’t know what aspect of recycling to focus on? Do you need the best recycling business ideas and opportunities to start in 2020? Then read on as I expose ten small but profitable niches that exist in waste recycling business.
As the world fast tracks to globalization, the magnitude of garbage that we produce is increasing at a disturbing rate. While most people are aware of the effects of not recycling used materials, many more are not even aware that recycling can be a lucrative business that hits two birds with one stone; just imagine saving the environment while still making money from garbage.
Why Recycling business will remain an evergreen profitable business
Now for those who are interested in learning how to start a recycling business, here is an in-depth guide. Based on research, starting a business in the recycling industry proves to be a profitable business because the potentials still remain untapped and it is an evergreen niche.
Now recycling itself is a broad niche and making substantial profits from a recycling business depends on your location; I mean the country or region where you intend carry out your recycling project. The best place to set up your recycling business is probably a region where waste disposal is a problem and there’s no existent waste recycling plant.
But as a side note, I want you to know that the recycling ideas listed below can be implemented regardless of geographical location. Whether you are in USA, Canada, U.K, Australia, India, Ghana, etc, you can still tap into this business and make some money.
Now using my country Nigeria as a case study, research shows that there’s no mega recycling plant in the country and waste disposal still remains a headache for both the government and citizens; especially when it comes to plastics, nylons, cans, paper, clothes, etc but some states like Lagos state are making progress in the area of waste management and recycling. Now even if there are existing recycling plants, you can still make money from the sub niches of the recycling industry.
Secondly, the recycling business will prove profitable because there is a high demand for recycled products from manufacturing companies; who are looking to drive down production costs, since using recycled packaging materials is cheaper than acquiring new ones. So without wasting your time, below is an interesting list of Top 10 best recycling business ideas and opportunities you can invest in today.
Challenges of Starting a Recycling Business
- It is capital intensive – but can be started on a small scale.
- High cost of recycling equipments and machines. This problem can be solved by engaging the services of local machine fabricators.
- It takes massive amount of effort to gather waste cans, papers and bottles from dump sites and other places. However, you can choose to outsource this process while concentrating on your core competence; which is recycling.
Top 10 Best Recycling Business ideas and Opportunities to Start in 2020
- Set up your own Recycling Plant
If you have access to capital, you can also put up a recycling manufacturing plant where recycle garbage collectors can deliver the goods and where the actual recycling process takes place.
- Recycling of Aluminum Cans
You can choose to invest in the recycling of aluminum cans. Even if you don’t have the needed capital to go into it full scale, you can still make money by collecting the cans for big recycling firms. This idea is good for those people that are familiar with their neighborhood.
All you need to do is post a notice in the community bulletin board or send out business cards containing the rationale of the business and contact information and the promise of free pick up of your neighbor’s aluminum cans. This is even a profitable aspect of waste management.
- Recycling of Scrap Gold
Often tagged as mining gold above ground, the process of recycling scrap gold entails re-melting, refining and remaking new pieces. This process costs less than mining and in fact does not diminish or degrade the purity of the gold.
- Recyclable Waste Collection Center
If you don’t have the capital to set up a recycling plant, you can still start a profitable recycling business by setting up your own recycling center; where people can drop off their recyclable items like cans, bottles and paper. The establishment in turn will deliver these materials to bigger recycling centers or companies in exchange for cash.
- Recycling of Construction Waste
The process of construction waste recycling entails collecting the different scraps and leftover materials from construction sites like hardwood, waste metals, electrical materials, etc and reselling them.
- Garbage Recycling
While recycling garbage from homes is lucrative, so is recycling garbage from commercial businesses. All you need to do is provide a collection and pick up service and be at these corporate establishments at a designated time on a regular basis. Provide bins so to easily gauge costing and reselling.
- Cartridge Recycling
Establishing a cartridge recycling business is another profitable aspect of recycling. You can engage in inkjet and toner refilling operation and offer services to the corporate world.
- Electronic Waste Recycling
Electronic Waste recycling is another great recycling business idea. This business entails the buying of scrap electronic peripherals and electronic devices and selling them to recyclers. Gadgets that can be recycled or refurbished include all electronic gadgets, laptops, computers, mobile phones, etc.
- Cooking Oil Filtration and Recycling
Cooking oil filtration and recycling will benefit restaurants and hotels, by saving them money. You can start this business and offer to them this service. Your task in this case entails filtering out waste material from used oil making it reusable.
- Home items Recycling
The last but not the least in the list of top 10 Recycling Business ideas is to reuse and creatively remake whatever garbage or unused stuff that is in the backyard or in the garage. You can reconstruct old upholstery or old furniture and sell. You can also create work of arts from junk items and sell.
In conclusion, I want you to understand that there’s no end to the possibilities that exist in the recycling business; provided the item or product is in constant demand and is recyclable. Your job here is to find out what recyclable idea is feasible and get to work. With hard work and commitment, success will be yours.