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Often Wondered

| General - Let's talk business
  1. #1
    Mick's Avatar
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    I don't think you're missing anything, Kris Kringle. It all depends on many factors, including location and individual circumstances. People asking the question are really showing their naivete and people answering with specifics are really showing a lack of consideration for others' circumstances. You'll find the same thing going on in almost every industry. I've watched several Youtube videos on starting/building a scrap metal business and read several articles on the same. It comes down to this: Find a source of metal. Sort the metal into types. Find a market and sell. Buy as low as possible. Sell higher than you bought. ("Buy low; Sell high"). Everything else "just depends".

    People may laugh at me, but that's ok. I laugh all the way to the bank.

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    Yea another huge variable is what scrap are you after? Me I do a bit of everything, small bit of appliances (whatever I pick up, but I don't run the alleys lookin for it), cars, trucks, farm cleanup, core items, and whatever I can get my hands on...... Some people just do cars, some just do whatever appliances or small junk they can fit in their car or S10. Everyone does it a little different and everyone works with what they have or is available to them or what they are familiar with. Just a few months ago I didn't have much of a clue about sorting scrap and knowing whats what. I'd taken stuff in before but mostly steel and no large loads (only had a 12' single axle trailer). What got the ball rolling is I've been off work for a while, and I bought an old truck that I knew several people that wanted parts off of it, bought it one day and hauled to the scrapper the next day after stripping it, using a borrowed trailer. With the money I made from that it got me to considering buying another, bigger trailer and next thing ya know I'm doing it everyday and have people giving me all kinds of small stuff and larger quantities of stuff or cars I will pay for and pick them up. Its been very profitable and lucrative so far. There is a ton of people around here doing this though and while I've stayed busy so far I'm trying to figure out if it will stay this busy or if I will burn up all my resources and contacts and then run out of work... In theory that just means I wouldn't be trying hard enough, but everyone has a network and sooner or later our networks will be bumping shoulders and there basically won't be much room to expand the network and we'll have depleted our sources. Thats my theory but there again the scrapyards are still in business so we will just have to look harder when things get tough.

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    Yeah Blue once you burn up what you have.Thats when you have to get out and travel farther to get more stuff.



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