E-waste is the term used to refer to electrical and electronic equipment that has reached its end. These materials are often toxic and can pose a threat to the environment if not recycled. Recycling e-waste is an important step in preventing it from contaminating our environment. It also helps create jobs, conserve resources, and save money.
We must remember that e-waste does not just consist of computers, cell phones, or televisions. It can also include items like microwaves, cameras, printers, fax machines etcetera. The more people know about how their actions can affect the environment around them the better off we all will be.
Is e waste recycling business profitable?
Of course yes. E-waste recycling is a booming business. This is because there are many people who want the best for the environment and want to recycle their old electronics. With this recycling, they can recycle their old electronics and make some money in the process.
The Business Plan:
So, here is your grand e-waste recycling plan. Yo need at least 20,000$ to jump start your e-waste recycling plant. You can either import e-waste from other countries or you can source them locally. You also will need a sorting area. There are multiple streams of incomes you can generate with e-waste.
- You can either repair some these e-waste and sell them online as refurbished electronic items which is the most common way of making money.
- Search for rare electronic items in your e-waste pile and sell them to collectors.
- If the electronic device is beyond repair, then you can separate the components and sell them online. Sorted e-waste components always fetch for higher prices.
- The rest of the e-waste is recycled for plastic components, metals and wires in them, namely gold, silver, copper, palladium, aluminium, etc…
Who buys my recycled electronics?
A lot of people can buy your recycled electronics such as iPhones, iPads, iPods and more. Sellers list their items on the internet and they are usually picked up by buyers in person. Sellers can set a specific date and time for when they want the buyer to come to their location and pick up the items. It’s important to research what buyers in your area will buy before you list your items.
What happens to the e-waste that you can’t repair?
Waste management is a huge problem for many countries. The amount of e-waste that is being thrown out and not being repaired is only going to increase due to the more advanced technology we create. This is a blessing in disguise for you.
We all know most the electronics that we use every day have gold in them. There are simple chemical ways to recycle that gold and many other valuable metals like copper, silver, palladium etc.. One tonne of e-waste contains approximately 200 grams of gold which is more than what you can get from an actual gold mine these days.
Permits required for your e waste recycling plant
This section discusses some of the top requirements for your e waste recycling plant. Businesses with e-waste recycling plants are permitted to operate in the city areas if they meet certain requirements.
The permit process for your e waste recycling plant will depend on the zoning where the facility is located.
You may be required to apply for a permit from your local municipal zoning board before you can begin construction on your plant.
There are other things like business license, tax ID for your business, operation licenses, building permits, safety permits from the concerned departments etc.. Make sure you follow all the rules and regulations while you are disposing the byproducts after recycling.
Why You Should Start an E-Waste Recycling Business?
The electronic waste recycling industry is getting popular and profitable. This is because of the growing e-waste generation. You can start an e-waste recycling business with a small capital and turn it into a profitable venture.
You can reuse or recycle all kinds of electronics. Even if you are not able to reuse the electronics, you can still recycle them for some money from recyclers who will pay for your scrap metals. One of the main benefits of starting an e-waste recycling business is that you can make a profit from something that would otherwise be treated as garbage or landfilled, which saves a lot of natural resources and reduces environmental pollution.
There are three main things that can convince you why you should consider setting up an e waste startup:
- High ROI(return on investment)
There is a huge market of e-waste in the world. The amount of e-waste produced every year has been growing exponentially, reaching at least 50 million tons in 2013. Many people may not know that there are high return on investment in the recycling business.
- Eco friendly business model
The market is in need of efficient and sustainable waste solutions and the e-waste recycling business provides the solution. People are comfortable with buying goods at a lower cost because they know their money will be going to a good cause and something that supports the environment.
- Business is still under the radar
E waste recycling business is a high competition industry. But not many people would look at it as a cash cow. There are several businesses that offer the service of recycling electronics, but there is still high demand. This industry can be lucrative because consumers will buy refurbished products and also because the prices of electronic goods are not going down anytime soon.
In conclusion, starting an electronics waste business is a great way to do your part in the world and make money at the same time. No matter how small or big your business is, you can always find innovative ways to reuse and recycle electronics that will help you be more sustainable. There are a number of resources available online for those who want to know more about starting their own recycling company from scratch.
Hope this article helps you in your adventure. Please checkout other awesome business ideas mentioned in our blog. If you want to know about starting a plant nursery, click here . You can also checkout our other agriculture related posts here.