How To Start A Recycling Business. Tires, the most adamantly despised waste product of the last century, have been popping up worldwide for decades. They are tossed in scrap heaps and buried in landfills, but these old relics still present a significant environmental hazard. With the tire disposal problem on everyone’s mind—especially environmentalists—recycling them is becoming increasingly popular.
New business opportunities are sprouting up: tire recycling. The industry -is on its way to becoming a big business.
In this article, you’ll learn how recycling works, from start to finish, and how to get in on the ground level by starting a tire recycling business.
Identify Your Customers:
The key to making tire recycling companies pay is knowing who to sell your product to, which means identifying both suppliers and customers. The supplier brings the raw materials you need. The customer buys what you’ve processed from those materials.
How To Source Tires:
It is recommended that you locate your suppliers within a 150-mile radius of the location where you plan to set up shop. Anything more remote will cause excess time and money spent traveling for old tires. The most efficient way to deliver tires from point A to point B will vary based on your supplier and how quickly they stack tires at the destination. You might also consider these methods:
How To Sell Recycled Tire Products:
Most tire recycling companies do not find their recycled tires being sold to automobile manufacturers—many of these discarded tires are used in coal or cement factories instead. You should evaluate the market around you to determine what niche your business can fill.
To compete effectively in a niche market, it is crucial first to study the demand and competition levels. Companies that can benefit from your services include utility companies, construction contractors, athletic fields, and manufacturers.
As long as you are confident that the market will support your business, it would be best if you created a detailed plan for it. A business loan or outside investors may be necessary to begin tire recycling for money You will likely have trouble getting financial aid without a solid plan to repay those loans.
You can also apply to the Small Business Innovation Research Program (SBIR). This EPA program awards federal grants to proposals that address high-priority environmental issues.
Grants are awarded to small businesses and require that applicants demonstrate innovation in technology and the commercialization of their efforts to improve the environment.
Licenses, Permits, and Insurance Required:
To operate a tire recycling business, you will need to comply with regulations in your state. The Environmental Protection Agency and local government entities monitor the actions of businesses such as yours. Applying for licenses early will leave you well-prepared to open your shop when ready. Your investment and employees will be safe, too, with adequate insurance coverage.
The creator & host of Truck N’ Hustle, is a renowned personality in the trucking & logistics industry who hosts podcasts with the reputed & successful trucking entrepreneurs to share the knowledge required to start & sustain the logistics business!