As the amount of e-waste continues to rise, the electronics recycling industry is becoming more significant, paving the way for its expansion. Because of the enormous increase in consumer electronics, there is an ever-increasing amount of end-of-life electronics that must be recycled. This material is more than trash; it can be a health and environmental risk.
How does an electronic recycling business make money?
They earn revenue by selling recyclable materials to processors. They collect electronic waste and sell it to clients who will repurpose the products in the manufacturing process.
According to the report, 5 tonnes of e-waste (roughly 183 computers) generates a huge profit of Rs 1,78,308. The math is straightforward: The cumulative value of the recoverable materials from 183 computers would be Rs 2,88,108, based on a conservative estimation of the materials recovered. 183 computers (from different market sources) cost approximately 183x600 (including logistics) = Rs 1,09800. This equates to a gross margin of Rs 1,78,308 for the recycler.
First, know about E-waste Mining
E-waste mining is a method of extracting precious resources such as gold, copper, iron, and plastic from the circuitry of computers and cellphones using methods similar to those used by miners to process metal ores.
Recycling E-Waste Has Its Benefits
Recycling e-waste would not only help to remove waste, but it will also help to reduce emissions levels.
Read Also: How to Setup E-Waste Recycling Plant In India
Steps to Starting an E-Waste Recycling Business
- Make a plan for how you'll start your business: This is the first and most critical step, as you must ensure that you are completely knowledgeable about the various types of businesses that you may start. You may also choose whether you want to co-own the business in a partnership, run it independently, or operate through a limited liability company (LLC). Only then would you be able to receive a license.
- Separation of Useful and Non-Useful E-Waste: You'll need to find a strategy for identifying between waste that can be recycled and waste that can be refurbished into useful items. Most significantly, you get to choose where your usable waste will be disposed of. As a result, before thinking about expanding, you may want to start with something that you can easily contribute to with the resources at your disposal. You will then extend your list of recyclables in the near future based on your strengths.
- Obtain the Required Licenses: It is impossible to substitute getting a proper credential. As a result, make sure you've followed all of the rules and regulations that apply to the state where your company or plant is based (to avoid breaking any laws).
- Obtain the Necessary Resources: You'll need to figure out where you'll get the money you'll need to get started, and whether you'll buy or lease the equipment you'll need. Remember that proper recycling necessitates the use of the appropriate equipment to complete the task in a timely and effective manner.
- Choose the Best Location for Your Recycling business: When choosing a site(industrial location), you must consider a variety of factors, including public access for dropping off recyclable materials and picking them up on a regular basis before transporting them to a recycling facility. Depending on the situation, you may want to rent a small stall or a warehouse.
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