alekwb,
Congrats and good luck. Let us know how it works out.
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alekwb,
Congrats and good luck. Let us know how it works out.
Metal Recycling Entrepreneur
You will know when its time.
Taking the chance was the best and worst choice of my life. First 5 years I made more than I could respend In to my business.
Now I have enough expenses I need another 10k a day to buy.
Its tough getting the buying $$$.
I have the whole set up and rock and roll it but waking up knowing you have to make $1000 net profit to break even every day gets old. That's low because I paid all my **** off right down to fork trucks and all. Just a warehouse, insurance and buying $$ is nuts.
Making 15 percent as a dealer means I have to spend $7500 a day to keep it going.
In my area I have more customers than $$. I run out sometimes and have to short sell a load or sell to buyer who will pay me trailer load price now on my half knowing in three days the rest is coming.
It's all about advances.
Many large end users front their $$ to these larger yards.
They won't front to a middle guy like me.
Just do it if you wake up every day loving it. I still do.
Even now in the end of 4th quater and taxes and all.
Best job ever. Made more friends than I'd ever expect.
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Stillwater,
Interesting the numerous ways we make a living off of scrap. I am at the bottom of the food chain. No money tied up into inventory so I only have to worry about one day at a time. My warehouse is the great outdoors and do not have to spend money heating the work area, although it does get cold sometimes. Only invest when the money is in the bank. Only stress is finding the next farm to scrap. This does not make me rich, just happy.
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