If you’re considering starting a new business with a low initial investment and high profits, this business idea could be the icing on the cake! We’re talking about the recycling business, or scrap business, which you can start from home with a small investment of just ₹10,000 to ₹15,000 and earn a whopping lakh of rupees every month. This business grows even more during the festive season, as people prefer to purchase unique items for home decor. Let’s understand this excellent business idea, its high demand, and the entire process of starting it in detail.
Why is the scrap business profitable
The demand for recycling business ideas is growing rapidly globally. More than 2 billion tons of waste is generated worldwide each year. Our country, India, also produces more than 277 million tons of waste annually. Waste management poses a significant challenge. But smart people have turned this huge problem into a big business.
People are now using scrap materials like old tires, bottles, pieces of wood, or metal to create unique and beautiful things, including home decor items, jewelry, paintings, and utility products. This creative recycling business has become a multi-million dollar business, and demand continues to grow as people increasingly prioritize eco-friendly products.
How to Start
Starting a scrap business doesn’t require a large factory, but rather a little creativity and a small initial capital.
The first step in starting this business is collecting raw materials, i.e., scrap. You can collect discarded items from your neighborhood and homes. Alternatively, you can purchase waste from the municipal corporation or directly from customers.
After collecting the scrap, you must thoroughly clean it. This is crucial for the quality of the product.
This is the most important step in this business. You’ll need to design and color the various items uniformly. You can transform old tires into a stunning seating chair. This can cost over ₹700 online.
You can make many things from scrap, such as furniture from tires, lamps or vases from old bottles, craft items from wooden pieces, and other home decor items like cups, kettles, glasses, and combs.
Marketing and Sales Will Earn Lakhs
Once your recycled products are ready, it’s time to earn lakhs by selling them. You can easily sell your products on e-commerce companies like Amazon and Flipkart. Online platforms provide access to buyers across the country. Additionally, you can advertise your products on social media and sell them at local markets or art fairs.
This recycling business idea has immense potential for success. With low investment and high profits, it also helps you keep the environment clean.