Startup idea #2: Compostable
Here is an idea to solve environmental problem that concerns me a lot. It could lead us to zero food waste while generating household income and reducing greenhouse gas emissions.
Startup Idea №2: Compostable
We lead the world to zero food waste by helping every household generate revenue from composting organic waste.
Problem: Approximately one-third of all food produced for human consumption is lost or wasted annually worldwide. And a significant portion of this ends up in landfills, where it generates methane, a potent greenhouse gas that contributes to climate change. In fact, food waste in landfills is responsible for around 6% of global methane emissions, according to the Food and Agriculture Organization of the UN. Lack of motivation (no direct immediate benefits), knowledge, and high cost (of acquiring and maintaining composters) prevent households from composting food waste, leading to increased landfill use.
Opportunity: With an indoor composter in a household, about 90 kilograms of food waste per person can be composted annually, yielding around 9 to 27 kilograms of finished compost. This results in:
Reduction of gas emissions by 50-75% compared to sending food waste to landfills;
Household income up to $1-2 per kilogram of finished compost that can be sold to urban agriculture;
Supplies of nutrient-rich fertilizers which can replace synthetic fertilizers and pesticides;
Reduction of the amount of organic waste that goes to landfills, which reduces the need for new landfill sites.
Solution: We provide a subscription-based household food waste composting service with further buy-out and pick up of finished compost. Our service is designed to help households start composting their food waste without any cost to them. We deliver, install composters, and provide users with an application for tracking their own progress on reduced gas emissions, saved landfills, and potential earnings. Additionally, our users are linked to a community where they can learn more about environmentally friendly lifestyles. When the fresh compost is collected, a pick-up service comes and buys it out by weight per kilogram.
Benefits:
Zero cost of starting composting food waste in households;
Potential household income from helping the environment;
Reduction of household gas emissions by 50-75%;
Supplies of nutrient-rich natural fertilizers;
Reduction of landfill sites used for organic waste.
Market Opportunity:
There is a growing market for eco-friendly products and services. In fact, the global organic fertilizers market was valued at USD 59.1 Billion in 2021, would soar up to USD 88.1 Billion by 2028, is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period 2022 to 2028 according to Vantage Market Research analyses. Moreover, the household composters market is estimated to grow at a CAGR of 6% between 2022 and 2027. The size of the market is forecast to increase by USD 451.78 million.
Revenue Model: Our revenue model is based on a subscription-based service where households pay a monthly fee to rent an indoor composter and have their food waste collected. We also generate revenue by selling the finished compost to urban agriculture, local gardeners, and farmers.
Team: There is no team yet, it is just an idea.
Investment: Will be defined later.
Do you find this idea exciting and appealing? How would you improve it? Share it with your community if you feel like you want to tackle this problem. Join me in leading the world to zero food waste and creating a sustainable future for all.
How do you come up with such cool ideas?