With electronic items such as smartphones, cameras and laptops becoming obsolete far more quickly than they used to, the amount of e-waste that societies generate is much higher than it was a decade or two ago. In fact, as of 2016, India produced 2 million tonnes of e-waste. Therefore, electronics recycling proves to be a profitable industry to dip your toes into.
Considering the fact that over 90% of the e-waste in India is handled by the informal sector, using inferior, unsafe practices, there is immense scope for you to start an organised, licensed electronics recycling business. You can use a business loan for engineers to get the capital you need to kick-start an electronics recycling firm. When you apply for a Loan for Engineers from Bajaj Finserv, you can enjoy a Flexi Loan facility, credit amounting to Rs.15 lakh and easy repayment terms.
To get an idea of what it means to operate a business in this sector, take a look at the business opportunities that you can take advantage of.
Start collection centres
If you’re looking for a low-investment entry into the industry, consider setting up a collection centre. Set up collection depots in every locality, preferably alongside existing recycling collection facilities. You can also set up depots in malls and in electronic stores. Then, you can segregate the waste as per type (such as computers from smartphones and LED lamps) and ship them to consolidation centres.
Set up a consolidation point
To cater to the demand of raw materials of large recycling companies, you can set up a consolidation centre. Tie up with several collection centres, consolidate shipments and send them on to the next stop in the chain. Recycling companies prefer to maintain business relations with consolidation centres as they offer shipments of the right size and so, allow them to benefit from economies of scale. To set up a consolidation point, you must have a large storage and segregation facility that allows you to combine shipments from collection centres in an organised manner. You must also have the infrastructure to store them until you can ship them to recycling centres.
Create a recycling facility
This is the most technical segment in the sector. Here, you receive shipments from consolidation points and work on the actual products. You will have to invest in systems and processes to erase data, and then have workstations that take products apart for individual parts such as sensors, circuit boards, etc. You can also look into re-furbishing these products and re-introducing them into the market. The next step will involve breaking down these products for their individual components such as extracting metals like copper, aluminium, palladium, silver, etc. You can then sell this to foundries. As far as glass and plastic parts go, you can act as a supplier to recycling firms that specialise in recycling such waste. However, remember that starting a recycling facility will require significant investment. Apart from a large work floor and skilled employees, you will have to invest in equipment such as shredders, magnets, etc. to extract the parts. You will also have to have superior safety protocol in place given the nature of the work.
So, make the most of opportunity in the electronics recycling sector. Depending on whether this is going to be your primary business or auxiliary business, and how much you want to invest, you can choose one of these businesses to get started.