Study the feasibility of the garbage recycling plant project, many entrepreneurs need to start some inexpensive projects that bring them a lot of profits, and among those projects is the recycling of garbage, but you must first do a comprehensive research and feasibility study even if you do not have the destiny Adequate knowledge in the field of feasibility studies, the technology company is able to provide a feasibility study for a waste recycling plant project, so contact us.
Feasibility study of the waste recycling plant project
Starting a recycling business – sample business plan template
1. Select the recycling side you want to venture into
This is the first and most important step as you should investigate the type of recycling that catches your interest and provides a good potential return or return on investment.
Examples of areas you can focus on with the recycling industry include:
Recycling of scrap metal
Recyclable aluminum cans
Recycle paper cardboard
Recycle plastic bottles
Recycling electronic waste
For example, recycling paper, bottles, scrap metal, and cans is labor-intensive and doesn’t generate much revenue unless you are charging people for collecting recycling from their home.
Recycling computers, cell phones, and other items that contain scrap gold is also a labor-intensive and profitable process, while recycling household items for reuse appears to be the most beneficial.
2. Gain basic knowledge
Knowledge is Power, Applying Knowledge is a Powerful Power Before jumping into investing your money in setting up a recycling plant, you should research and know everything there is to know about the specific recycling business you want to start; And the green industry as a whole.
You should also study and understand the operation method and processing channels of the recycling plant to gain this knowledge, you may need to spend some time working or researching the recycling plant.
3. Garbage recycling plant project (conducting a feasibility study)
After gaining basic knowledge of the investment of your choice, you need to conduct feasibility research to ascertain the profitability of the proposed business, the current demand in the market, and the type of equipment required to operate your recycling plant.
The best location for your site is the company, the manpower needed, the general and operating capital required, where the funds are to be obtained from, the level of competition, financial or projections, etc.
4. Write a business plan
If you bear the pain to conduct feasibility research, you will have no problem writing a business plan or communicating with the technology company.
All you need to do is convert your feasibility report into a business plan by adding your vision and mission statement, strategic marketing plan, and résumé to your management team.
Once done, your business plan is ready to present to investors.
5. Source of funds
Most recycling business consumes capital and you may not be able to finance it yourself, so you have to find a way to raise money for the project.
Will you raise capital from angel investors, venture capitalists, government agencies, or NGOs? Or would you prefer to have a bank loan? it’s your choice.
6. Garbage recycling plant project (forming a team and starting the project)
Once you have successfully implemented steps 1-5, you can then proceed to assemble a staff that is both technical and management inclined.
This team will help you set up the recycling plant and run the company.
However, it is important that you obtain the necessary licensing and permission from both the federal, state, and local governments before starting a commercial operation.
Sample list of equipment needed for recycling business
Recycling process management software
Waste collection vehicles like trucks, open-end trucks, etc.
Conveyor belts: – used to transport garbage and recycled products from the receiving station to the sorting station.
Hydraulic Elevators: – They are used to transport and load both discarded and recycled materials such as scrap metal, bottles, etc.
Industrial loaders: They are used to transport materials to and from collection areas.
Magnet: – used to separate metals from other materials and to separate ferrous metals from non-ferrous metals.
Milling devices: They are used between the screening and refining stages in the recycling process. Mills and pulverizers are used to handle friable materials such as glass.
Cutting Machines: – They are used to reduce materials such as metals, paper, plastics, and tires into smaller pieces.
8 challenges of starting a recycling business
Although the recycling business is very profitable and has many advantages.
However, there are many challenges accompanying it.
So here are some of the challenges to expect as you start your recycling business.
Setting up a recycling business takes time, effort, and resources.
It is capital intensive
It is very labor-intensive
Finding scraps and waste products can be a challenge as it takes a lot of effort to collect a reasonable amount as well. This is a very big challenge because not all of the scraps are worth it and you are required to sort through those useful and much-needed scraps.
This work involves dealing with garbage, so it is seen as a dirty business so you have to have a constant spirit to be able to deal with this type of business because it involves dirt and garbage and the work has to do with garbage sifting.
Some of these scraps are dangerous, so you may suffer injuries when you collect some of these scraps, as some of them are metal objects.
Examples of these sharp metals are Aluminum, copper, etc.
Toxins are inevitable because the nature of this job involves sifting through waste, so it is possible that you will encounter toxins and these toxins are harmful to humans.
Transporting scrap to a recycling plant can be a challenge because most recycling plants are located very far away and it will require a lot of money to transport the scrap to the recycling location.