Starting a tyre recycling business just likestarting any other recycling businessis demanding but highly profitable. In some recycling business, you will be required to spend huge capital to setup the recycling plant while in some recycling business you will only spend minimal capital. Tyre recycling business is one of those recycling business that requires reasonable capital to setup the recycling plant.
So, if you are looking for a business to start, you can consider starting your own tyre recycling business. Much more than making profits from this business, you can also access grants from the government of your country and some international agencies.
This is so because those that are in the business of recycling used tires are part of the people contributing to the reduction of hazardous materials from our environment; of a truth, used tires can constitute nuisance in our environment.
Recycled tyres can be used as rubber modified asphalt for road construction, floor tiles, running tracks, and fuel and patio blocks. But if the used tires are still in good condition, it can be re–treaded and sold at a cheaper price to vehicle owners compare to price of brand new tires.
Now let us quickly consider some of the surefire tips on how to start your own Tyre Recycling Business from the scratch and then build it to profitability with the shortest time possible;
Starting a Tyre Recycling Company – Sample Business Plan Template
1.Conduct Your Feasibility Studies
The first and perhaps one of the most important decisions that you need to take before starting your tyre recycling business is to carry out a feasibility study.
Feasibility studies will help you get first hand information on all it will take for you to successfully launch your own tyre recycling business in your area, the cost implication, how to source for used tires and how to create market channels for your end products. As a matter of fact, a good feasibility study will inform you of the product that is in high demand in the market.
2.Draw Your Business Plan
Once you are done with your feasibility studies, then the next step that you are expected to take is to draw yourtyre recycling plant business plan; a plan on how you intend to start and run your tyre recycling business.
The truth is that if you don’t have a good and workable business plan in place before starting your tyre recycling business, you are likely going to operate the business on a mediocre level. So ensure that you have a good and workable business plan in place before launching your tyre recycling business.
3. Register Your Business and Obtain the Necessary License and Permit
As a matter of fact, you cannot operate this type of business without legally registering the business with the government of your country. Beyond registering the business, you are also expected to obtain the necessary license and permit before you can be allowed to go into full operation. You can contract your attorney to help you out with the process. It will make it faster and easier for you save for the charges you have to pay.
4.Source for Startup Capital
You would need money to rent or lease a facility big enough to build a tyre recycling plant, purchase trucks and all the equipments needed for this type of business. So ensure that you put plans in place to raise your startup capital. If you have a good business plan, you can make use of it to obtain loan from your bank or to attract angel investors.
5. Secure a Facility and Equipments for Your Tyre Recycling Plant
You would need a facility for your tyre recycling plant; this is not one of those businesses that you can successfully run from your house. As a matter of fact, there are zoning law guiding the setting up of this type of plant.
So ensure that you inform your real estate agent what you want to use the facility for so that they will help you get a facility that can get government approval. You would also need to purchase all the necessary equipments and at least a truck for transporting used tires and also for transporting the end products from your recycling plants to the market.
6. Source for Supply of Used Tires
Part of the info that will guide your decision to locate a tyre recycling plant in any location is your ability to get enough quantities of used tires at a very cheaper rate. So it is very important that you source for supply of used tires.
You can negotiate with the waste management board for your state to supply you with used tires and you can also talk to vulcanizes around you to supply you with condemned tires. The truth is that if you are not sure of where to get enough quantities of used tires from, then there is no point starting a tyre recycling business. So when conducting your feasibility studies, pay attention on where you will get used tires from.
7.Create Market Channel for Your End Products
There are several forms you can process used tires into. Used tires can be recycled into rubber modified asphalt for road construction, floor tiles, running tracks, and fuel and patio blocks.
But if the used tires are still in good condition, it can be re – treaded and sold at a cheaper price to vehicle owners compare to price of brand new tires. So once you are able to identify your market, then ensure that you produce goods that can easily be purchased.
There you have it; the 7 surefire tips that will guide you to start your own tyre recycling business from the scratch and then build it to profitability within the shortest time frame.
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