Raising Profit Through Waste Reduction

In many cases an increase in work volume will most certainly increase the amount of waste produced.  An increase in waste production almost seems as though it is a necessary byproduct of doing more business, but in actuality taking the necessary steps to minimize waste can do wonders for increasing your profitability.

Innovative Methods of Recycling

By now most people are familiar with the process of reusing used cooking oil as biodiesel to power motor vehicles and while this may not be a viable recycling option for every business out there, there are a number that could greatly benefit from it.  Restaurants who offer delivery service or who use a truck to pick up supplies could dramatically increase their profit margin by reusing their own used cooking oil to power company vehicles and reduce their dependence on gasoline.  The higher the volume of business and the more proactive the recycling process, the more money the business will be able to save.

Another great example of extending the life of an essential product and helping to protect the environment can now be seen in many airports.  The preparation process of many planes requires that they be de-iced and this process requires the use of a liquid de-icing agent.  A new process taking place in many airports includes equipment that is designed to catch the run off of the de-icing fluid so it can be used again on another plane.  Prior to this practice, airlines were effectively wasting thousands of gallons of fluid that was still very usable.  Recycling the de-icing fluid is healthier for the environment as there is less fluid waste produced and it drastically cuts the airline’s costs for the fluid by eliminating the need to purchase as much new fluid for treatments.

Saving on Waste Management

Regardless of the type of waste that your business is generating there is a cost associated with its disposal.  That cost may only entail the rental of a basic dumpster, the fees associated with emptying it, and the hourly cost of an employee filling it – but if you can effectively minimize or eliminate those costs (and others) by reducing or reusing that waste your bottom line will improve.

In the case of hazardous waste, this is an even greater concern. Disposing of hazardous waste is not only more costly to begin with, if the proper regulations for doing so aren’t fully adhered to, you could be putting your business in a position of facing steep fines.

Minimizing waste also minimizes the worry of eliminating it and any costs associated with doing so – and if you can reuse the materials that were previously disposed of as waste rather than being forced to purchase new, you can increase your bottom line by even more.

Improving Your Reputation

Minimizing waste, decreasing emissions and reducing pollution are great ways to help improve your reputation on both a global and a local level.  Reducing waste probably isn’t the most glamorous way to make your business greener, but making the effort to reduce your company’s possible negative effects on local land, wildlife, and people, and figuring out ways to cut cost by reusing your company’s own byproducts are great ways to boost sales and lower costs to make your operation much more profitable.

First image credit Devin Fernandez

Second image credit Chris Satchwell

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