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America’s recycling industry is booming due to the large amount of waste produced in the country. According to an EPA study, recycling and reuse activities accounted for about
$37.8 billion
in wages and 681,000 jobs in 2016. Numerous opportunities remain available in the industry for people seeking to start a business with a small investment. Therefore, consider starting a recycling business next year to do your part for the environment and earn a decent income while at it. Below are some recycling businesses you can start next year.
Plastic recycling is one of the best and profitable recycling businesses you can set up in the US. Research reveals that America is the world’s leading producer of
plastic waste
. In addition, a Greenpeace article suggests that America lacks enough plastic recycling companies due to China halting its waste imports and local recycling facilities being overwhelmed by the huge amounts of plastic waste that must be processed. Consequently, there is always room for recycling businesses whose efforts can change this reality. Plastic waste is abundant in the country, so your primary income source will never run dry. What’s more, you can obtain a government grant to set your company up in no time.
Fax machines, photocopiers, and printers used toners and ink cartridges that you can recycle easily by replenishing the ink. However, few enterprises and individuals take advantage of this, creating an opportunity for your small-scale business. After mastering some refilling skills, investing in a few tools, and arranging delivery to your patrons, you can readily start your business. Your business will enjoy a tremendous competitive advantage over new toner cartridge retailers because you can provide refills for nearly half the price without sacrificing profits. However, consider learning about the
LLC application
process to establish your company as a Limited Liability Company and enjoy the tax perks and flexible management inherent in this business structure.
There is no shortage of opportunities in the scrap metal collection and sales sector, so consider setting up a business in this industry. As a
scrap metal
collector, you will typically pick up your materials from homeowners, remodeling projects, and other sources and then sell them to larger recyclers. The startup cost for this business is typically low, and you can easily expand with time. However, you will need essential machinery and equipment like a pickup truck, net and tie-downs, gloves, and safety shoes when starting, so keep this in mind. Also, scrap metal collection needs more manual labor than most recycling businesses, so budget for this.
Paper recycling has been thriving locally since the Chinese ban on America’s waste import, so there is a lot of cash to be made in this industry if you play your cards well. You can strike a business deal with offices or any other large paper consumer in your locality to get your primary resource for free. Then, feed your paper into machines to create a pulp after collecting it. This method demands a lot of water, so keep this in mind when drafting your practical business plan.