In the face of growing global demand for products and raw materials, the public and authorities have recognized that the linear “take-make-waste” model consumes finite raw materials and generates large amounts of waste. The circular economy is an alternative to the linear economy, in which products are made and used to minimize the consumption of the world’s resources. In order to realize the transition to a circular economy, this research focuses on remanufacturing as an efficient circular business model. Remanufacturing restores used products to like-new or better-than-new condition. It aims to extend the lifetime of products and maintain economic value, thereby reducing consumption and waste. This research will dive into remanufacturing business, including who should operate remanufacturing, when products should be remanufactured, and what pricing scheme should be applied to remanufactured products. Beyond environmental and economic benefits, our research aims to include stakeholders inside and outside of the existing economy, making the circular economy a global, socially beneficial transition.