There are several steps to start a waste management business. The US generates around 300 million tons of municipal solid waste (MSW) per year. However, many homes and businesses don’t take the time to separate recyclables from the trash. As an entrepreneur entering the waste management industry, there are new technologies to effortlessly eliminate and recycle waste accordingly. More so, you are creating a positive societal outcomes with environmentally friendly responsibilities. Follow these steps to start a waste management business.
Choose A Sector
The first step when starting a waste management business is choosing a sector. There are various types of waste management sectors your business can focus on. For example, you can conduct waste management for the medical industry. Waste in health care facilities may include needles, tissues, body parts or blood products. Or, you can focus on waste management for construction. This requires the removal of waste such as paint, plaster and asbestos from construction sites. Also, if construction debris ends up in the property’s parking lot, you may be hired for parking lot cleaning duties. Other industries you can cater to include electronic, industrial, green or nuclear waste. Of course, depending on the sector you choose to service, you need to know how to collect, store and dispose of their materials accordingly. Certainly, when starting a waste management business, choose a sector.
Create A Business Plan
Now that you’ve chosen a sector, you need to create a waste management business plan when starting your own business. Within your plan, express your ideas and expectations for your new business. Express why you wanted to start your company and how you will make it different from your competitors. Of course, discover and specify your target audience by researching the market. Then, based off your research, determine your business functionalities. For example, besides collecting and disposing waste, you can create recycling programs, develop hazardous disposal procedures or sell collected waste to third parties. More so, include your pricing model, business strategy and projected business cost. In fact, you can create a page specifically for ways to raise funds to start your business. Surely, creating a business plan is the second step in starting a waste management company.
The next step in starting a waste management business is finding financing. Developing and growing a waste management company requires a lot of capital. You need funds for company vehicles, safety equipment and waste storage containers. There are various ways to gain capital including the government, commercial clients and the bank. Of course, when picking a financing option, ensure you can access and track your cash flow. More so, consider a backup plan in case of unpredictable or unplanned situations. Consider saving money, looking into a SBA microloan program, finding an angel investor or crowdfunding options for financial assistance. Certainly, find financing options and tools to start your waste management business smoothly with as little cash flow issues as possible.
Obtain The Required Permits
Of course, you need to obtain the required permits to start a waste management business. Depending on the state you decide to start your business, there are various rules and regulations enforced to collect garbage. Discover the agencies that oversee waste collection, recycling and disposal in your state. Communicate with them to determine the permits you need and what they may cost. For example, if you are opening a business in North Carolina, you are required to get country commercial hauling company permits. These permits’ costs vary from $20 to $30 depending on the amount of company vehicles you own. More so, when consulting your state for required permits, ask about legal dumping procedures. Surely, when starting a waste management company, you need to obtain the required permits to avoid legal issues.
Offer Extra Services
Finally, when starting entrepreneur opportunities such as a waste management business, offer extra services. By offering extra services, you can attract more trade. Using the equipment you already have for business specific operations, you can provide clearance services and waste containers. Advertise that your business can clear waste from houses, garages or specific sites. Also, offer options to demolish and dispose of old sheds, gazebos or garages. More so, consider wholesaling waste containers and recycling bins. Distribute them to local offices, factories, schools and hospitals. Then, create a schedule when your team comes in and empties them, whether it be daily, weekly or bi-weekly. Certainly when you start a waste management business, offer extra services for increased income and trade.
There are various steps you should follow when starting a waste management business. First, choose a sector to focus your business on such as medical waste, nuclear waste or construction waste. Secondly, create a business plan specifying your business strategy, how you will stand out from your competitors and your functionalities based on market research. Next, find financing to fund your business through savings, loans, partners or government grants. Of course, obtain the required permits needed to open your business in your preferred state by communicating with state and local waste management agencies. Finally, include extra services such as clearance options and waste bin distribution to attract more attention and clients. Follow these steps to start a waste management business.