How much will it cost?
Depending on what area you are going into, start-up costs for waste and recycling can vary. According to Colin of Green Works, it has become more expensive of late – possibly as a result of the drop in commodity prices:
“Startup costs were initially very low, and there was relatively easy access. Those costs have risen quite considerably, but it’s still not as expensive as the cost of entry into other forms of business like financial services for instance – because the quality of the staff you need is quite different.”
There’s a degree of investment, and just how great this investment is may depend on your focus; i.e. whether you’ll need space for storage or a workshop; machinery for processing or manufacturing; a fleet of vehicles; or skilled staff.
If you require a large square-footage for a warehouse most of your money will go into premises.
A vehicle fleet can cost a lot too, depending on what kind of product you’re picking up, and exactly what model you go for. Trucks can vary from £30,000 to £10,000, to just a few hundred in the waste business, depending on your specification.
You also need to factor in costs for applying for planning consent, licensing your service and your fleet.
Remember however that you can subcontract out a lot of these things: you don’t necessarily have to have a fleet, machinery and premises yourself, particularly when first starting out.