Question

The Coffman Investment Group wants to invest capital in the recycle industry. We are a for-profit-company. Can a recycled product find a market?

Create a narrative that will determine if a recycling company can be profitable.

Find an existing company or develop a new idea to recycle something different.

Answer 1

TERRACYCLE

TerraCycle loves waste. The company collects virtually any type of discarded item and sells it to other companies – those that collect used goods – and even municipalities. So many items are perceived as non-recyclable because they’re too messy or they don’t seem to fit into any particular category like plastic or glass, but TerraCycle has the network and the resources to reuse pretty much any type of product, which allows them to make a profit from taking a person’s unwanted items. Those looking to recycle can just type a product name into the search bar to see if the company will accept it.

While producing 100-percent recycled goods may be a tall order, it’s never too late to start down a path towards sustainability. You can use these sustainable business tips to forge a brighter future for your company:

1. Look for Alternatives

Take stock of your suppliers and look for more sustainable alternatives. Working with suppliers that use 100 percent or partially recycled materials can help you position your company as a leader in sustainability. Look for suppliers that use renewable resources and forgo artificial ingredients and synthetic chemicals. Some of these suppliers may even cost less than your current business partners. Keep exploring and don’t be afraid to build new business partnerships.

2. Reduce Waste

If your business produces waste during the manufacturing process, such as scrap metal or plastic, look for ways to reuse these resources or donate them to a good cause. Even if it costs you a little bit of time and money, turning this waste into something new helps you reduce your company’s impact on the environment.

3. Be More Flexible

Businesses tend to focus on convenience during the manufacturing process. But this addiction can blind you to the unsustainable aspects of your business. Look for ways to reduce energy use, save water, and use sustainable resources even if it means making the manufacturing process more complicated. You can use these sustainable business practices to attract new customers and make up for these added costs.

4. Get Green Certified

If you feel like you’re flying blind when it comes to sustainability, you don’t have to go it alone. Organizations like Green Business Bureau are here to help guide businesses like yours through this process. After joining as a member, your business can begin taking the steps to become green certified, which will help you attract more environmentally-conscious consumers.

Sustainability doesn’t have to be an uphill challenge. If you’re willing to change your approach to business, you can easily incorporate these practices into the manufacturing process, find new solutions and become a leader in sustainability today!