Few people view rare earth magnets as a business opportunity. It can be attributed to the fact that there is very little understanding of these magnets. Additionally, rare earth magnets are synonymous with industrial uses; therefore, individual businesses pay little attention. However, did you know that rare earth magnets are in demand for small-scale applications? You should not pass this opportunity, especially if you are looking for a business that does not have a strong barrier of entry. Moreover, supplying rare earth magnets requires little capital and its unique nature makes it ideal for a startup. This article highlights crucial sectors where you can supply rare earth magnets.
Local Recycling Plants
According to reports, Australia's circular economy will add $23 billion to the GDP by 2025. It can be attributed to the growth of the recycling industry and particularly the proliferation of recycling plants. Unlike in the past, today's recycling plants have become localised, making recycling services easily accessible. For instance, some local garbage collection companies run their recycling stations. As such, they need rare earth magnets for separating metal waste from other types of garbage. Rare earth magnets are also in demand in damaged car yards for picking and sorting body panels.
Kitchen Appliance Repairs
Today, homes are filled with different appliances, from fridges and freezers to cookers and microwaves. The doors of these appliances have a magnet that helps to create a tight seal. For example, a refrigerator needs a tight seal to prevent warm air from getting in and compromising your perishables. However, these magnets lose their strength over time, thereby affecting the tight seal. The only way to restore a door seal's integrity is to replace the magnet with a new one. Therefore, kitchen appliance repair service providers are always looking for affordable rare earth magnets for such repairs. The best part is that you can sell to service providers on a small scale, allowing you to target several repair services.
Homebuilders
Just like kitchen appliances, the doors, windows, cabinet drawers, and wardrobes of modern houses have magnets on them for ease of operation. For instance, most homeowners prefer a minimalist design on bedroom wardrobes and kitchen drawers. Homebuilders can best achieve a minimalist design by replacing handles with magnets. It creates the illusion of invisible drawers and makes a kitchen to look bigger. Therefore, homebuilders will readily buy magnets from you and use them on customised cabinet and drawer designs.
To learn more, reach out to a local rare earth magnet supplier.
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