Plastic Recycling Business in India: How to Start in Low Investment

At one point, a continuous increase in the magnitude of plastic at an alarming rate poses a threat and a disaster for the environment. Global leaders are extremely worried about the global munch and are attempting to find a solution in a number of different ways. Recycling plastic waste and turning waste into wealth is the best way to deal with this problem. This article will walk you through the first six steps of starting a plastic recycling business.

Any business aims to reduce risk while increasing profit, and profit is the ultimate objective of every organization. Plastic recycling will not only help to reshape and clean the world, as well as form the circular economy, but it will also allow you to make a lot of money because it provides a big opportunity with minimal risk.

This article describes a step-by-step method for starting a Plastic Recycling Business with a Low Investment.

Steps Involved to Start a Plastic Recycling Business:

1. Market Research: If you’re starting a new business, do a lot of research on your target market. Separate your study into two categories: primary and secondary. Read studies, posts, and research papers for secondary research, and analyses results. Make a list of its viability, advantages, and disadvantages on paper.

Set up a fund for primary research for plastic recycling startup business. Visit current recycling companies, fill out questionnaires, speak with experts, and get your questions answered.

2. Prepare Business Plan: Make a detailed project report that includes sourcing, financing, location, online/offline sales, and marketing, branding, promotion, and revenue sources.

• Sourcing: Contact Kabadiwala, form a well-organized ragpicking squad, and position recycling bins at railway stations, educational institutions, bus stops, airports, and societies. Set up 2–3 recycling centres in cities where the bulk of the city’s residents can dump their garbage and you can easily collect it. Contact the municipality and receive scrap at a low rate, i.e. (1–3)Rs/kg.
• Marketing: Start preparing a market strategy for starting a plastic recycling company, including marketing, visibility, branding, and selling. Make contact with non-profits and volunteers, and build an online presence to demonstrate your social involvement. Divide the budget for labour, equipment, property, energy, raw materials, marketing, logistics, and bank EMI into fixed and variable costs for each operation.Prepare a clear and easy payment method by signing a letter of credit or similar document. Don’t get sucked into the world of finance. Never risk your money if you want to win. Decide on a niche market to sell in. You have the option of exporting or selling to domestic corporations.

3. Identify Location and Get License: You’re now mentally prepared to start a plastic recycling business. In this stage, you must choose a location for your business. Since location is so critical for any business, make the best possible identification and regulatory bodies, the environment, and other local or government bodies will process your licence. You won’t have to deal with any more bureaucratic red tape because the government is aggressively supporting this industry.

4. Machinery and Equipment: If you want to make the entire operation smooth and increase production, then the choice of machinery and equipments are significant. Search the best machines in the market by online or offline sources, check the electricity consumption and production capacity. Scrutinize it, take feedback then make a decision.

5. Equipment and Machinery: The selection of machinery and equipment is crucial if you want to make the entire operation run smoothly and increase efficiency. Check the electricity consumption and output potential of the best machines on the market using online or offline sources. Examine it, get input, and then make a decision.

The following are the costs for the best machinery and equipment in a primary plant.

• The grinder will set you back Rs 80000.
• You may expect to pay about Rs 80000 for Anglo.
• The granule manufacturer, which includes the granule cutter, will set you back Rs 9 lakhs.
• You would have to pay 2 to 3 lakhs for an electricity connection.
• The design of the building would cost you between Rs. 8 and 10 lakhs.
• Boring costs between 20,000 and 50,000, depending on the water level.
• You must seek approval from the emission control board, which would be subject to a fee.
• For a total of 20,000, you’ll also need a measuring machine, a sack stitcher, and other miscellaneous expenses.

6. Value Chain: If you want to start a low-cost or high-cost plastic recycling business, you must have a detailed understanding of the entire value chain. It lowers your risk and clarifies your goals and objectives.