Metal Recycling Entrepreneur
Well, the scrap yard dropped me from $50 an m/t to $20 an m/t today.
No way in hell can I even cover my costs at that rate.
Goodbye, scrap metal world!
Anybody want a 2005 diesel pick up and bobcat trailer?
Another small business owner ruined by greedy bankers and politicians!
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actually it was artificially high prices and a housing bubble in China (and some other countries). They experienced a similar housing bubble like we did (only on a much larger scale). THAT is what precipitated steel prices to fall so low. .10/lb is not a realistic sustainable figure in any market.
This is the time you have to adapt your business because you are at the mercy of a commodity market coming off a killer run...
Just putting that out there.
PROFIT is made when you BUY/ACQUIRE NOT when you sell
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Could always go after another commodity or even get into EWaste, but like webuyselltradestuff said, you have to adapt. Business' that don't adapt fail. I supose if you're that wanting to get out of scrapping you could always sell your truck and trailer for more then scrap value - just don't expect to get blue book or nada values for em.Originally Posted by bullion
When I first started out in my main job of engineering, an older engineer that I was working with gave me a book called "Who Moved My Cheese?" he told me to read it and learn from it. it was by far the best learning experience to date. If you have never read it please do (attached is a free PDF of the book). I can say that I have read my book many times in the past 15 years (its a short read) and it has helped keep me adaptable in life and business.
It may just help all of us weather the storm.
http://classes.sdc.wsu.edu/classes/c...y%20cheese.pdf
I'm going to recycle the world.
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Great little book Tincankeith is recommending.. and it is a quick read!
I'm so into scrapping.. When my Steel Toe Boots Wear out, I cut the Steel out of them and recycle the Toe!
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glad to hear it, it gives you the chance to take things seriously and plan for these situations like a true businessman and not a fly by nighter and use those skills you learn to make your business model sustainable in any market. the money your giving up to those around you who want it is just like college its costly but hope you learn from your mistakes and come back stronger than ever.
Metal Recycling Entrepreneur
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You can still scrap nonferrous metal. Look at the iron scrap as gas money to get to the yard and back, to sell your copper and aluminum.
Metal Recycling Entrepreneur
40 miles each way to the scrap yard.
Not worth the trip in my own vehicle at 20 per ton.
I use roll off bins to haul my scrap but it cost me $150/hr for trucking-at 20 per ton will only get 100 per bin-won't cover the trucking cost.
No way I can keep scrapping don't forget the cost of travelling to pick up scrap at customer's place as well as hauling it back to the yard AND time spent sorting.
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There a reason you're using a roll-off? I would think at $150/hr, I'd find another alternative. It's crunch time: when prices fall, eliminate as many extra costs as possible.
Metal Recycling Entrepreneur
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perhaps fixed route days to pickup customers scrap to cut down drive time also why do roll offs used dump trailers are decent priced to pull behind a pickup .
if you have used the roll off 20 times in a year that's 2k+ that gets an alright trailer more times gets you a better trailer.
Metal Recycling Entrepreneur
A dump trailer costs 12 grand where i am-no used ones anywhere around ALSO a dump trailer holds 1/4 what a 30 yard bin with tall sides does.
SOOOO I can fit 1 ton worth of stuff in a dump trailer so I would have to do 4 trips with a dump trailer at 20 per trip*80 miles per trip PLUS fuel and my time so how does 3 hours time and 40 dollars in diesel per trip equate to being worth it?
I own a TRUCKING COMPANY I know what the most efficient way to ship scrap here is.
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where are the truck and trailer. I'm interested
V/r HT1
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Larger trucks are almost never the answer. I figured out that last year, to make our 1 ton pay for itself hauling scrap, I would need to haul over 120 tons of scrap. That's before prices collapsed.
The only way I can see to maximize trucking is if you can have the truck do two jobs at once. But, that's not exactly easy....
More than Scrap Value Shipment Tips: http://www.scrapmetalforum.com/scrap...tml#post242349
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I've found a new more profitable business for myself, but everyone is different. Can't blame anyone but yourself for not adapting.
Metal Recycling Entrepreneur
Excuse me, devin?
I am to blame for the bottom falling out of scrap prices?
How the hell is that my fault?
How about keep your irritating comments to yourself?
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He ment it's important to change with the times and if you don't, you're setting yourself up for failure. It's why Wal-Mart succeeded where K-Mart failed(even after merging with Sears to be owned by AOL).
Metal Recycling Entrepreneur
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ya i only hauled in 1 junk vehicle this year so far,not good i know. still going to keep my pick up and trailer,because i can use for other things as well.
been buying and selling riding mowers,vehicle repair when i can find them. making little money but least getting by.
been debating on going getting my CDL then just put dot and mc# on my pick up and trailer and just haul things for people instead! and just get out of the scrap metal business for good,since its not worth my time anymore! or get back into scrap metal on the side at later date when prices go back up.
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Out here, the reason I own pickup trucks and a trailer isn't scrapping. My cheapest truck is a 1986 Dodge that I have less than $1000 and some hours of work into. I don't know that I could justify even it for scrapping alone. Having a truck and trailer makes sense out here- you can haul equipment, straw/hay, long lumber, and pretty much anything else.
If you don't have those needs, it can be harder to justify. What's right for one business isn't necessarily right for another.
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Truck and/ or trailer is like money in the bank to me. Make them work for you. Do cleanouts, dump runs, deliver firewood, collect e -waste ..... My trailer is almost never empty. In the past 2 weeks, it's had 2 loads of firewood, a free hot tub ( for me), A riding mower,
A trip to the dump , tomorrow another load of firewood, then the truck is taking 2 boats out of the water. Around here a cord of firewood goes for $200.00 . Most of the time you can get it for free- the labor is the splitting and then delivery.
Deliver Christmas trees etc, Like many have said already, you can adapt, think out side the box, good luck and let us know if you come up with some good ideas...
And if the market firms up again you are ready to roll again
Metal Recycling Entrepreneur
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just the other day used my trailer to help neighbor haul 4 pallets full of patio bricks! made $100 off that.
could of made more but did it more as favor not profit.
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