Environmental Testing and Processing Laboratory: A Short Guide to Business
In the 1970’s, the U.S. Environmental Protection Agency started making strict regulations covering water, air, and soil. This led to the proliferation of environmental testing laboratories and processing plants. Now, these entities do not only cater to American businesses and government agencies, but to international agencies, as well.
Due to the number of laboratories now present, starting your own environmental testing laboratory or processing plant may come with challenges, primarily involving the aspect of competition. If you are intent on starting your business, however, you should consider aspects of the industry that may serve as your advantage. For example, location is of primary importance in building your facility. Where there is easy access to samples and only a few or no competitors at all is an ideal site.
Writing your business plan
Your business plan is the first important part of your lab business. This should include an executive summary, a description of your company, an analysis of the market you will be entering, a section for organization and management, a section for your product lines, and another section for the funding request. You may speak to a lawyer regarding the drafting of your business plan, just to make sure it is in order. You need the business plan when you’re applying for the necessary permits, asking for funding from an institution, or proposing to possible investors.
Setting up the laboratory
As mentioned above, you need to find a location where the market is not saturated with laboratories like yours. It should also be close to sample sources and have a reasonable number of possible clients. Hire personnel with experience in the same field. Join seminars and similar activities where you and your staff will learn more about your trade.
Getting equipment and expanding
In some cases, if the entrepreneur buys an existing laboratory, they may not feel the need to upgrade the existing equipment for a while. But if you’re starting your lab from the ground up, make sure to buy new and state-of-the-art tools and equipment. Consider your services and add more equipment as your company starts making more profit. You may also expand your services to include others not limited to a lab setting. You may, for example, start providing a service for treating water or soil. Of course, you’ll need new tools for this, such as wastewater process equipment from Ashton Tucker Water Treatment and others that can help you perform new services.
An environmental laboratory and processing plant is a good business idea. It may take some serious funding and time before your business starts making any real profits, but this is the kind of business that demands your patience and presence for the long haul. In the end, if you keep at it, your business may become more successful than you expected.
