One man's trash is another man's treasure - but how
about your business' rubbish? Several resourceful businesses are
turning their waste into profit. Could you do the
same?
Farming is one sector leading the field in turning business
scraps into profitable ventures.
William Chase, the founder of Tyrrells Crisps is one of those.
Originally a potato farmer, he used to sell whatever stock the
supermarkets rejected to crisp factories. However, in 2002 he
decided he could do a better job and started his own crisp-making
venture.
In that first year, he set aside 5% of his crop for crisps,
using the rest of his stock to carry on his potato business. But
the demand for his crisps became so great, that in 2009 he stopped
supplying supermarkets with potatoes and focused the whole of his
1,000 acre farm on Tyrrells Crisps.
In 2010 growth had levelled at 58% per year and Chase sold the
company for a cool £40m.
Chase didn't exit to retire, however he decided to focus on
another business that initially began as a project for disposing
the waste from his potato crisps. Potato Vodka.
Taking the potatoes that didn't get used for the crisps, Chase
decided to create a vodka that tastes of buttery mashed
potatoes.
Launched in 2008 and imaginatively called Chase, the spirit
sells at a rate of 2,000-3,000 bottles a week. It was also voted
the world's best vodka in the 2010 San Francisco World Spirits
Competition.
Founder Chase, says, "turnover in 2011 should be around £3-4m
and then £10m the year after".
The crisp-cum-vodka mogul isn't the only person turning their
business scraps into profit. Another is Lochy Porter, founder of
Angus Soft Fruits. His business provides strawberries, raspberries
and blueberries to British supermarkets. The berry business has
strict rules on what fruit gets sold and although 90% of his
produce makes the grade, 10% is rejected. Rather than see these
leftovers go to waste, he sells them on to jam makers and
wholesalers. This means no fruit is wasted and helps contribute to
the company's turnover of £25m.
Not bad for waste disposal, eh?
If you're interested in a start-up business bank account,
contact NatWest to realise your ambitions.
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