The Business Overview
Waste management business is a value-adding business. It has the potential to make millions of naira for the serious entrepreneur. All you need is the right disposition toward this business. Then, you factor ways to get clients and how to run this business effectively.
Waste management business is a kind of from rags-to-wealth. It’s all about the collection, disposal and recycling of waste materials.
For example, you can simply begin with collecting waste polythene nylons and rubber containers. You can then sell these to waste recycling plants in Nigerian states. As a matter of fact, you can start this business with next-to-no capital.
Profitability Of The Business
It is estimated that an average waste management (recycling) company in Nigeria makes about $65million from the exportation of metallic.
These waste metals are then recycled and used to manufacture cars, electronics, machine spare parts, cooking utensils etc.
While you may not be able to build a recycling plant, probably due to your lean capital, you can simply collect the wastes and sell them off. You will still make money in the process.
You can make lots of money from supplying of waste materials such as scrap metal and polythene to recycling companies in Nigeria.
If it was not a lucrative business, the government, individuals and the corporate sector would not recommend it. So, go for it. There is wealth in waste.
In the process too, you are helping to keep our environment clean and safe by taking the trash off the streets. The revenues accrued from this business helps to improve the nation’s economy and GDP.
It is estimated that one can make at least N50,000 monthly from this business. See the breakdown below:
One kilogram of polythene sells for about N50.
Let’s assume that you supply 100kg daily for 25 days in a month. Doing the math will give N50 x 100 kilos x 20 days = N105,000
If you go into the metal waste collection business, you are going to make so much more from this business. your money increases per weight of the waste material you gather.
Read Also: 5 Benefits of Waste Recycling to the Economy
Waste Management Business Is An Evergreen Business
The most important reason why you should consider waste management business is that it is an evergreen business. Wastes never finish.
With every new product comes a new form of waste. This means there will always be some waste to collect and, therefore, money to make. So, you are going to continually make money from this business.
Popular Waste Management Items
1. Bread wrapper
3. Hospital drip bags
4. Laundry bags
5. Popcorn wrapper
6. Pure water sachets
7. Shopping bags
8. Soft poly bags
9. Yogurt wrappers
10. Metal wastes and scraps
11. Aluminum chippings
12. Rubber and plastic wastes
Read Also: How to Turn Waste to Wealth in Nigeria
Where you do not want to do it by yourself, you can simply employ people to collect the wastes for you for a stipend. Once it reaches a sizeable capacity, you sell them off and get paid in cash.
You can pay some children to be gathering all kinds of wastes for you. Continue doing it until it becomes big, take it to a recycling company and be ready to count your cash as it would be measured and paid for.
The 3 Stages Of Waste Management Business In Nigeria
There are 3 stages of waste management business.
Stage 1: The first is the waste collectors or waste scavengers.
Stage 2: The wastes collected from the waste collectors are then supplied to the waste collection agency, dump site or centre.
Stage 3: The final stage is the recycling companies where the wastes are recycled and sold to manufacturing companies.
The collection agencies act as the middlemen between the waste scavengers and the recycling companies.
Getting Your Business Plan Ready
You need to write a good business plan for this waste management business. This should include the niche service you want to go into and strategies for success in the business. State your mission statement, projected profits and future expansion.
Getting A Good Business Location
This business thrives the more in an area with a large supply of refuse bins, dump sites and disposals. A highly populated residential, industrial and commercial centre is best for this business. Although it will thrive in the rural areas, moving to the urban settlements is, however, a better idea.
Required Equipment & Tools
For efficient business operations, you should consider buying the following tools and equipment:
1. Boots for the workers
3. Face mask
4. Hands cloves
6. Waste collection truck
Read Also: How to Stop Food Waste in Nigeria
Determining Your Pricing
In this business, you have next to no control over the pricing. Most times, this is fixed. But you can determine how much you want to make from this business – daily, weekly or monthly.
Try to find out how much a kilo weight of waste is charged for from existing waste management business around you. This will give you a clue as to how much effort you should put into the business or whether to retreat.
Personnel & Staffing
As the business continues to grow, you may not be able to run it all by yourself. You may need to employ staffs to assist.
This, however, should be competent hands who can run the business effectively. Ensure that the work entails is well understood by your intending workers, prior to hiring.
Marketing & Promotion
By marketing, I am simply referring to the process of informing people about what you do. That is, letting the word out about your business services and calling for patronage. Your market should centre around waste collection and recycling companies in the area.
No need printing fliers or handbills or posters for this business. Just take yourself where the companies are and make your proposal known. In some cases, you may need to enlist as their staff and from there, kick off your business.
Planning For Business Expansion
As you continue to soar high in this business, a time will come when you need to expand. Make concrete plans for this afore-time.
Try to sell your services to more clients and in the process, you will make more money than focusing on just a single client. Every expansion comes with additional costs. So, plan for this.
Waste management business is not capital-intensive. As a matter of fact, aside from the money required to transport the waste to the depot, not start-up capital is required.
You don’t need to have an absolute dependency on the government and others for survival. Start waste management business today, and see yourself at the top in a very short time.
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