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"Electronic Recycling Business": How to Get Started

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Every year, millions of electronics such as TVs, cell phones, and computers are thrown away, and only less than 20 % of them are properly recycled. This phenomenon creates opportunities to fill the gap, and electronics recycling business can be a very promising opportunity with a relatively low competition.

To start this business, you won't also be required to have a specific skill base and experience, and you can almost start the business right away, as the monetary requirement is also relatively accessible.

An electronic recycling business will provide services to recycle usable electronic parts, as well as processing the metal materials. On the other hand, the business must also have a waste disposal process for toxic wastes and unusable materials.

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Interested to start this business? Here are a few things to help you get started.

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1. Business Model and Startup Investment
You can generally choose two types of business model in this industry. The first is to solely focus on the electronic waste collection process, and sell your collection to a company with full recycling capabilities. This will net you less earning in general, but will eliminate a lot of the costs necessary to build a recycling facility.

To start, you will only need a reliable vehicle, and you can safely start with below $20,000.

On the other hand, you can build a full-fledged recycling facility. It doesn't have to require a lot of space, and if there are any spare spaces in your house, you can make it a home based business. You will also need to invest in the necessary equipment, and you can start with around $50,000 depending on your scale of operations.

2. License and Permit
You might be required to have a zoning permit, as well as other permit depending on the legal requirements of your location. Consult your local authorities to get a better information regarding your local regulation.

Having a liability insurance might also be required by the law. Even when it's not a legal necessity, investing in an insurance will also be a good investment to protect your business from future accidents and contingencies.

3. Marketing
You will mostly operate as a B2B business, thus, your main ways to get clients is to approach other businesses who might need electronic components as well as metal materials.

You might need to invest on a good salesperson if you're not one yourself, to approach potential clients. You can also prepare business proposals and send them to potential companies. Landing the first client might be the biggest challenge in the early stage of the business. However, as your reputation grows, the process will be easier.

Earning Potential

With an assumption of a recycling facility able to recycle usable materials worth $100 a day, you can get a profit of $3,000 a month, or $36,000 annually. By collecting more electronic waste, and increasing your production capacity, you can increase your earning potential.

The key to success of this business is to build your client base. Thus, having a strong salesperson will be the key.