Used tyres pose a serious threat to the environment and are a potential health hazard. When piled together, a fire can easily turn them into a disaster which would threaten to spew pollution and damage the environment. Recycled tyres, on the other hand, can become entirely new products, which is why there is an ever-rising demand for this type of business. If you are looking to set up one, here are the tips which will help you succeed in it.
Learn the basics
You have to know your job and the advantages it carries to be able to run a successful business. Tyres can be recycled and used for many things, and finding out your recycling options is the first step. Recycled tyres have many purposes, from being used in rubber-modified asphalt, a fuel in civil engineering, surfaces for running tracks and playgrounds to vehicle mud guards, floor mats and tiles and retreading. Many things can be done with recycled tyres, and understanding the basics and getting the hang of it is all you have to do to set your business on the right track.
Create a business plan
Once you are done with the basics, you have to come up with a business plan. Think about the things you need, especially in terms of the vehicles and location. Equipment comes up next, and it can vary depending on the job you decide to do. Make sure you check international and local prices for tyre and crumb rubber. Another important part of planning is to insure your business, equipment and vehicles for general liability. You can also request help from professional asset management services which can help you with many different segments such as potential expansion and growth.
Get government approval
Getting a business license is something that might get in the way of your business. It should be done at the very beginning, since it is only a part of the approval process. The tyre recycling business deals with potentially deadly materials, therefore getting a license can have you undergo certain testing. Each state and zone may require specific permits or licenses; some of these permits might cost a lot of money, so make sure you put those numbers in your final business plan.
If you lack the cash to start your recycling business, there are several things you can do; for starters, explore community grants for green businesses and see if you can score. Your goal is to develop and quickly expand your business, which will yield a lot of money and clients. Unless you find a proper funding source to cover your business expenses and get you requested “tools” for the job, your dream of running a recycling business will burn like a shooting star.
Find a tyre source
You have to stay informed at all time. Check with your local waste management department for the up-to-date information about tyre waste in your area. Your goal is to make connections with other local businesses that receive scrap tyres. These often come from local mechanics, department stores or car dealers. Some communities have a tyre cleanup day where they get to discard their used tyres at no charge; if you are living in such community, do not miss the opportunity to make a fortune.
Starting a tyre recycling business is usually harder than it sounds, but knowing that the job can be very profitable makes all efforts justified. You will help clean the community and preserve the environment, while at the same time creating a business that your children will be able to take over.