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"Plastic Recycling Business": How to Get Started

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Plastic remains one of, if not the most popular material for many of our day-to-day products. As a raw material, the demands for plastic is steadily high throughout the year and is almost not affected by economic downturns and recessions.

Yet, plastics can be available for free in the form of waste and trash, creating a prospectus business opportunity in the form of waste plastic recycling.

The recycling process itself require a relatively simple equipment, knowledge, and experience, lowering the entry barrier and required startup investment of the business.

Not only this is a promising business opportunity with an exciting earning potential, but you can also give back to nature and the environment in the process.

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Here are a few tips to help get you started:

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1. Startup Investment
If you have a spare space in your house, you can make it a home based business. Otherwise, you'll need to rent a space, and the cost can vary depending on your location. You will need to invest in equipment like molding machine, boiler, crushing machine, and injection machine as well as other necessary tools. Buying second-hand equipment will be an option to reduce the initial cost, but make sure all are still in good conditions.

You can start with around $30,000-$60,000.

2. License and Permit
Depending on your location, a special permit might be necessary. Consult your local authority to get a better information regarding the legal requirement for a license or permit before you can engage in the business.

Insurance will also be a good idea to avoid future accidents and contingencies.

3. Marketing
Your main potential clients will be manufacturers with plastic as their raw material. Approach them with a proper business proposal to secure the business partnerships. Exporting to other countries can also be an option. Many online platforms are available for purchasing and selling raw commodities, and can be a good place to find buyers for your crushed plastic material.

Initially building your customer base might be a challenge. But, once you got steady long-term partnerships with several companies, you will get a sustainable and regular earning on a monthly basis.

4. Expansion
You can also produce a plastic-based product such as plastic folders, bottles, and many other alternatives to expand your business as a manufacturer.

Research for the current competition, as well as available opportunities in your area. You can support plastic packaging for other local businesses, for example. Producing plastic shoes and sandals is also a sustainable opportunity, and can be done with a relatively low startup cost and will not require a significant expertise.

Earning Potential

A metric ton of raw plastic material can be sold for $500. Recycling 5 tons a month can net you $2,500 monthly earning, or $30,000 a year. However, the demand and available plastic waste can easily exceed 15 tons a month. This means, your earning potential can reach $7,500 monthly, depending on your location.

By selling your own plastic products, you can increase your earning potential significantly.

Maintaining production cost as well as securing clients will be the key to success in this business.