Every year, there are millions of electronics like broken televisions, old computers, and unused mobile devices that end up hitting the landfills instead of passing through the recycling process or centers. So, you might be wondering what the problem is right (maybe there are limited recycling centers for people to access quickly?). So, if the answer to these questions is yes, why don’t you consider starting your own e-waste business?
Before you get started, here are some things you should note:
- Get the necessary information and knowledge
Firstly, for you to be successful in e-waste business, you have to possess a clearer understanding of both the consumer electronics and recycling industries. Do your researches on some of the problems this industry is facing, problems like the components and manufacture of consumer electronic equipment; issues behind the current and future electronics markets; and some other factors affecting recycling markets. Acquiring this knowledge will help you choose which aspect of electronics recycling business you should venture into, the competition, and the mode of operations you to be successful in the business.
- Identify the electronic recycling services you will offer
There is a different type of services you can offer when it comes to e-recycling; which you can choose to offer one or combination of some, including:
- Collection – collection of used electronics from consumers
- Refurbishing and resale – assessing and repairing or upgrades(refurbishing) of electronics for resale
- De-manufacturing – disassembly of electronics for scrap or resale
- Shredding – tearing and selling commodity from whole units for recycling
- Asset recovery – collecting and keeping of obsolete or surplus property from companies
- Brokering – selling used or components of electronic devices to other vendors
Also, when you’re considering these options, also find out where the revenue will be coming from (either from large businesses, small businesses, government, other recyclers or consumers). Taking note of this will help you start the perfect business.
- Research provincial and federal laws concerning electronic recycling
Once, your business strategy is in place, is time to do your research on the legal processes and requirement before you start the business. Consider the entire legal process, including the necessary licenses or permits, inspection requirements, and where you will be disposing your unwanted parts like metals, and plastics.
- Create a business plan
So, to finally organize your business, you also need to look at the following factors:
- The geographic area you will be serving
- The completion in the area
- Where your potential suppliers and buyers will be coming from
- The volume and type of electronics you will be dealing with
- The skilled/unskilled labor available to you
- The capital requirements and how to finance the business
- Your marketing plan
So, when you finally do your research and get the right information’s needed for you to start your business; make sure you run it ethically and legally.
Dump-Squad is one of the fastest growing disposal bin rental, dumpster rental, mini bin rental and junk removal company in Toronto, Ontario. We hope you have enjoyed reading this article and can take something away from it. In the event you are looking to hire any junk removal services or garbage bin rentals in the Toronto area, please feel free to contact us at any time!