If you are looking towards starting your own business; a business that can attract grants from the federal government and also other international organizations; one that is highly profitable and a business that can attract tax rebate from the government, then you should consider starting your own electronics recycling business. The truth is that recycling business all over the world attracts support from governments and international organizations.
Electronics that are dumped in dumb sites or buried in the ground can be hazardous to humans, animals and plants and that is why entrepreneurs are encouraged to go into recycling business. Loads of this electronics; TVs, radios, computers, VCD, DVD players , cell phones, projectors, UPS, inverters, decoders and micro wave machines et al that are dumped can easily be refurbished and sold to people who can’t afford brand new electronics. You can as well recover and sell some items such as gold, silver, aluminum, copper, steel and plastics from condemned electronics.
You don’t need any specially technical skills to be able to start your own electronics recycling business; if you are hard working and you are able to learn on the job, then you will do pretty well in this line of business. But you must be willing to work with Environmental regulating agency and health and safety regulating agency in your country. You will also be required to undergo training on how to handle hazardous materials.
Now let us consider the 7 surefire steps to follow to be able to start your own electronics recycling business from the scratch and then build the business to profitability with record time;
Starting Electronics Recycling Company – Sample Business Plan Template
1. Conduct Feasibility Studies
There are locations where electronics recycling business will do pretty well and there areas where you will struggle with this type of business. So ensure that you conduct your feasibility studies before starting your electronics recycling business. If you conduct your feasibility studies properly, you will be able to position your electronics recycling plant in a place where you can easily get used and condemned electronics, and you will be able to obtain first hand information on how to setup and manage your electronics recycling business.
2. Write Your Business Plan
You will be required to clearly state the plans you will adopt to kick start and to manage your business; your business plan. Well for a business like electronics recycling, your business plans should cover key areas like how to raise seed capital to set up your recycling plant, how to source for condemned electronics, and how to market your end products (refurbished electronics or any of these items; gold, silver, aluminum, copper, steel and plastics generated from condemned electronics). You can as well adopt strategies on how to access grants and support from the government and international agencies.
3. Raise Your Startup Capital
Setting up any recycling plan can be expensive simply because of the large facility needed, the cost of the machines and equipments. So you must ensure that you clearly state the plans you intend using to raise your startup capital. It could be through loans from the bank, it could be through seed capital from angel investors and it could be through money generated from your family members and your friends. The bottom line is that, if your business plan is sellable, the process of raising your startup capital won’t be too difficult.
4. Register Your Business and Obtain Your License
In order to be able to access some of the benefits of setting up a recycling business, you must first register your business with the corporate affairs department of your country,obtain your tax payer’s ID, obtain your operating license and then open a corporate account for your business. If you don’t have all this in place, you are going to find it difficult accessing any grant or support, besides your electronics recycling plans might be shot down if you are operating illegally.
5. Lease a Facility for Your Recycling Plant
You would need a facility with space large enough to contain piles of your condemned electronics, a space for administrative duties and space for installing all the needed machines and equipments. Before leasing any property for your electronics recycling plant, you need to check the zoning law for such industry. The size of the facility you would need for electronics recycling plant is part of what makes this type of business capital intensive.
6. Acquire the Required Machines and Equipments
Parts of what you would need to operate electronics recycling plant are crusher machines, conveyor system, trucks, hand gloves, safety booths, helmets, separator machine and set of electronics kit box et al. So ensure that you make provision for all this items when you are preparing your budget. You can get some of this machines and equipments at a cheaper rate if you contact the manufacturers.
7. Market and Promotes Your Business
If your intentions is to refurbish the electronics in your yard, then you should locate a market where you can easily sell the refurbished electronics; a rural community won’t be a bad idea, You can as well export refurbished electronics to third world countries; there is a ready market for such item there. If you intention is to extract items such as gold, silver, aluminum, copper, steel and plastics from condemned electronics, then you should look for manufacturing companies that make use of such items as raw materials in manufacturing their products. If it is cheaper and convenient for them, they will definitely buy from you.
Lastly, you must ensure that you create channels where you can easily get used and dumped electronics. You can negotiate with the waste management board in your community, or you can launch a campaign for the collection on dumped electronics in your community and environs.
There you have it; the 7 surefire steps to follow to be able to start your own electronics recycling business from the scratch and then build the business to profitability with record time.
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