More levels of pollution, inproper use of natural resources, and bad effects of climate change have led to a gradual collapse of our environment.
One of the biggest reasons is unsustainable business and industrial ways. Right from dumpimg harmful pollutants into rivers or treating waste unscientifically, we have let this go on for way longer than it should have.
However, there are many ways in which aspiring entrepreneurs and founders can go green, use recycled raw materials, and save energy. It has been seen that business using sustainable methods are delivering more than just profits. Consumers and users are also willing to pay more for products and services committed to ensuring a positive environmental impact.
A list of profitable eco-friendly business ideas you can start with a low investment and space.
(1) An organic store
Following an increased awareness for healthy and holistic living, the organic products market is seeing a high demand. Although, a slew of organic grocery chains and personal care outlets. They offer a variety of goods like skin care products, pet supplies, snacks, and food items.
Put together a few sources of funds, look for an appropriate location (you can even rent out a space for anywhere between Rs 10,000 to 1 lakh), and hire a bunch of people to manage it.
(2) Recycling waste material
Though the concept of circular economy is new in India. It consists of eliminating trash as much as possible, while identifying innovative ideas to recycle and compost it. This is precisely where waste recycling businesses step in.
But, it is important to conduct some market research to narrow down on the items that you intend to recycle. The options are – aluminium scrap, batteries, textiles, papers, construction waste and plastics.
Most of the material recycle globally like aluminium, paper ,construction material, battery,plastics etc.
(3) Making clothes from plastic
According to a report published by the Central Pollution Control Board (CPCB) about 25,940 tonnes of plastic waste is generated in India every day. This roughly translates to a per capita consumption of 11 kilograms of plastic, on an average.
This can be attributed largely to single-use plastics in the form of bottles, bags, wrappers, and sachets. Although most of these products are non-biodegradable, they are recyclable. For example, plastic bottles once shredded, can be converted into chips and later made into yarn. The same yarn when woven turns into fabric. The last step includes stitching the raw pieces of cloth and using natural dyes on them. This business would only require capital investment made on land, machinery, and logistics.
(4) Upcycling furniture
If you have an eye for style and design, then this is the business for you. Upcycling furniture is all about acquiring worn out furniture from auction sites, thrift shops, etc, at reasonable rates and restyling or refurbishing it for a modern and chic feel.
The market for upcycled furniture is huge. While some might view the product as an antique, others might see it as an affordable alternative to well-designed furniture. The cost involved in establishing the business is quite less, and includes acquiring raw materials, getting a workplace, and hiring people like carpenters, designers, and sales executives.
(5) Selling used books
According to a report by the Wildlife Conservation Society (WCS), about 3.5 to seven billion trees are cut down in the world every year for manufacturing paper, agricultural expansion, and timber harvesting.
While, a lot of energy and green cover is lost during the course of making paper, it seems only right - and sustainable - to use old books rather than buy new ones. Opening up a retail store to sell used books is both a lucrative and thriving business. In addition to the brick-and-mortar model, a digital platform might also give an added leverage to tap the younger generation.
(6) Bio fuels
I continue to remain one of the major contributors to pollution in India. According to the India Brand Equity Foundation (IBEF), the country is the third largest fossil oil consumer in the world.
Biofuel, however, can work as an alternative to fossil fuels as it is obtained from plant and animal waste. Considered to be safe and environment-friendly, its production is dependent on the availability of jatropha oil or seeds. Hence, choosing a location where it is easily available is imperative.
The production of biofuel requires methanol, jatropha oil, distilled water, hydrometer, weighing balance, conical flasks, funnels, cylinders, etc. Hence, apart from a processing facility, trade and explosive licences from the local municipal authority, and clearance from the Pollution Control Board is also required.
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