Plastic being a non-biodegradable polymer is hazardous to the environment. Since plastic does not decompose through natural means, it poses a lot of danger to both animals and plants. The world is filled with lots of plastic products. That is because most of the products used are made of plastics. Therefore, there is a need to recycle more plastic products. This is a great business opportunity that can be profitable if you carry it as required.
Plastic Waste Generation
Most plastic products become trash after use. Thus, a lot of plastic waste is generated and continues to increase each year. That is because most of the products you use will have been replaced by those made of plastic. You may be surprised to learn that less than 20% of plastic waste gets recycled. The best method of reducing the amount of plastic in the environment is by reusing it and recycling it.
Plastic Recycling Plant Business Plan
As you know, each business needs a plan to succeed and so does plastic recycling. Before you start your plastic recycling business, there is a need to come up with a plan. These are some of the important things to consider when coming up with your business plan:
Legal requirements of plastic recycling plant
How to collect plastic waste
The market for recycled plastic products
Estimated profit margin
Return on investment
What you require to open up the plastic recycling plant is a strategic location. The place should allow you to store your waste. You also need machines for recycling plastic waste. Also, you need to pay attention to plastic waste.
Other requirements are a generator for power backup, electricity, and permission from government authorities. You also need skilled labor to recycle. You have to ensure you purchase the best plastic recycling machines. Usually, the plastic is heated and then cooled. Remember that the choice of machine depends on the type of plastic you want to recycle and the scale of operations.
Depending on the size of your plastic recycling business, you need to hire labor. Ensure you hire skilled technicians who have experience in recycling plastic and operating machines. You can also hire part-time workers to save on costs.
You should note that there is a huge market for your recycled plastic. That is because recycled plastic is cheaper than non-recycled plastic. Most recycled plastics are widely used in the manufacture of plastic basins and bottles. It can even be used as an alternative to bitumen for building roads.
Return on Investment
When starting your plastic recycling plant, you need a lot of capital. That is because you need to rent warehouses, hire workers, and purchase the right machines. As you start production and marketing, you will start to get returns. It may take a few months before you get your return on investment. If you want to get a higher profit, you should consider manufacturing different plastic products, such as throw plastic bottles and polybags. That is because they have a large market and do not take up a lot of plastic.