How To Make Money From Waste Management 2019/2020
- 1 How To Make Money From Waste Management 2019/2020
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When people see waste, they envision poverty which they believe is a perfect symbolism. What if I tell you that you’re wrong? What if I can prove to you that waste is actually the millionaire’s way of creating wealth? Oh.
According to World Bank, Africa generates nearly 70% million tonnes of waste every year. Guess what, more goods are going to be consumed, leading to more waste and wealth to smart entrepreneurs. What is waste? You might be asking. Is it all kinds of waste that can be converted to wealth?
In a lay man’s term, waste is anything that’s no longer of value and it’s prone to be thrown away. Take a look around; there are waste everywhere, waiting to be carried out by ASEPA.
In this article, I’m going to guide you on the numerous ways you can make money through waste. Sometimes, what will make you rich are the things you often overlook.
How to Turn Waste into Wealth
1. Waste Collection
There are many homes and business that will pay any amount just to get rid of their waste materials. Due to recent laws on sanitation and health, many people are becoming environmental responsible. To start a waste collection business will entails having a registered business name and a garbage truck with to carry the wastes.
Once you have registered with the local authorities, the next step will be building your customer base. Your key to success is to get a lot of people to sign up. Once that is done, all you need do is come around and carry their waste while they pay either weekly or monthly depending on agreement.
2. Inorganic Waste Processing
This refers to these waste that cannot decay if buried. The most common practice is to collect them, then sale to waste processing facilities where they are recycled back into final or semi-final good. The most popular of this inorganic waste is paper, plastic, metal, rubber, textiles etc.
To succeed in this business, you need to seek out for these waste recycling facilities and supply the waste needed. If it’s a facility that deals on plastic, please go ahead and supply and make money in return.
3. Organic Waste Processing
This is just the opposite of the above mentioned way of making money through waste. These are waste materials that can decay and are usually gotten from households, restaurants, bars, hotels etc. these are places where waste like vegetables, fruits, animal waste, plant waste etc can be gotten. This brings us to compost.
Your work in this line of making wealth through waste is by collecting these wastes, storing them for decay before making money of them.
What is Compost?
Compost is simply a natural product that very rich in nutrients which makes it a great and widely popular organic fertilizer.
Turning such waste into wealth mean you have to collect them, heap them somewhere safe and wait for 21 – 28 days for them to decompose very well for use. Once done, it can be packaged and sold as an organic fertilizer. It is a unique way of turning waste into wealth.
Advice For Wasteprenuers
- To make money in the waste industry, you need to know your niche, the market you aim to satisfy. This can be done by conducting a good feasibility study, to actually know how viable the business is in your locality. Not doing that is very dangerous.
- Another important factor to consider is location of your business or better yet, the place where collected waste are to be dumped. For that, it should be in a rural place, far away from residential areas.
- In this business, you need to employ more hands. You can’t do it all alone. In your business plan, staffing should be a top priority.
Cost Of Starting A Waste Business
The cost of starting a business, this business of turning waste into wealth is capital-intensive. Cost also varies depending on the type of business. At least, you need one million in a minimum to start this business. To be objective about the cost of start-up, draw a business plan. This will give you a detailed overview of what’s needed to make the business functional.
Finally, turning waste into wealth is the trend now. More and more waste are been disposed every minute of the day. There are factories in need of them; there are individuals who need help in disposing them. There are also numerous farmers ready to be your organic fertilizer. What then is stopping you? Waste business is the buzz now.
That’s the much we can take on the topic “How To Make Money From Waste Management 2019/2020”.
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