Did you know how much does your food garbage costs your nation ? Yes, that’s how much the conditions have worsened that we have to calculate this. Approximately, every average person around the world wastes about 1/3rd of the food they buy, cook and eat. India, itself has calculated a food wastage of ₹214 crore per day and in around the world around 1.3 billion tonnes of food waste gets dumped in the bin everyday.
This food wastage in the form of scraps of vegetables, fruits, bits of bread crumbs, rice, cereals, pulses etc is mainly contributed by the hotel, restaurant industry, catering industry, households etc.
Now why is it that we would lecture you on waste? Because this waste can probably get you into the most potential and growing industry of food management through the process of Vermicompost
So are you down to make business out of just garbage?
Firstly, what is Vermicompost? It is a process of decomposition process using various species of worms like red wrigglers, white worms and other earthworms thereby creating a mixture of decomposing vegetables and food waste, bedding material and Vermicast
Now the market potential for the process of Vermicompost is vast because obviously India is the second largest populated country in the world hence, the food waste total of India is vast accounting to over 60 million tonnes every year.
These wastes once fed on by the worms are then excreted thereby producing a decomposed material rich in nutrients, lower level of contamination than the organic materials before the process of Vermicompost which can used as an excellent organic fertiliser and soil conditioner.
The potential for this Vermicompost making business can be defined by its uses
The licenses required in setting up a Vermicompost making business would be:
The investment required to set up a Vermicompost making business is between ₹300000-₹500000
The profits made from a Vermicompost making business can be as:
The target consumers for your Vermicompost making business are as follows:
Agricultural industry: it is of a great use to these industries who need fertilisers that improve soil aeration, improves water holding capacity to give their plants and crops a suitable environment to grow
Plant laboratories : Those labs who deal in producing new breeds of fruits and cultivate organic vegetables etc might require this Vermicompost fertiliser to enhance germination, plant growth and crop yields
On site institutions: For managing the food scraps from on site institutions like in hospitals, universities and shopping malls etc
Gardeners and botanists: The Vermicompost produces is used by many households and professional botanists to in the processes of gardening as a replacement for chemical based fertilisers, it being rich and nutrients.
Metal industries : The Vermicompost fertilise which is rich in lead, zinc, cadmium, copper and manganese is also likely used to keep the metals cleans for further production
Sewage and drainage industries: It is also used by the sewage and drainage industries for their treatment used to remove organic matter, pathogens and oxygen demand from the waste water.
The area required to set up a Vermicompost making plant would be ½ an acre
The raw materials required for a Vermicompost making business are:
The machinery required to set up a Vermicompost making business is :
The Vermicompost making process involves a manpower requirement of
The business model of a Vermicompost making business can be defined using these 4 variants
Value proposition: The value which a Vermicompost making business is likely to get to you is:
Target consumers : The target consumers for this Vermicompost making business would be:
Competitor reviews: The competition to your Vermicompost making business in India would be:
Marketing strategy: The marketing strategy to be implanted by your Vermicompost making business can be as follows:
Advertising: Through newspaper and radio advertisements and tie ups with reputed restaurant and hotel chains through a R&D certification and licensing claims etc
Sales promotion: Bulk discounts and cash discounts to the agricultural and farming industries etc
The Vermicompost making business has the potential and has witnessed the following growth prospects:
The profit margin which a Vermicompost making business is likely to yield you is around 60%
Let the worms worry about managing the wastes of this country while you can take up the opportunity to do your share in making this world a better and sustainable place to live while you also make money and here’s how:
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