If you had $5000. to get started in scrapping how would you use it? - Page 4

I would buy 5K worth of small metal and electronics drop off bins and place them around!

Originally Posted by rca987

Down payment on a house with a bit of land so I'm not longer scrapping out of an apartment.

Yes! That's my first big goal. Except with me, instead of scrapping out of an RV.

At this point, the change I make goes towards my tools. Hmmm, and a pickup.

5K not a lot but a good start, people have built a business with much less. Most important things don't cost you anything, #1 shear determination to succeed, #2 don't be afraid to fail and #3 get up each day, going at it the best you can.

If I was just going into this business, I would learn as much as I could about Catalytic Converters from top to bottom, you should learn what after market cats are and look like so you would not pay 30-60 dollars for something that is worth 5.00 once you learn them you would be a specialty buyer and could build up a nice niche scrap business. $50.00 for cards 50.00 for recite books 4900.00 for buying.
I know this is a old thread but it still worth posting in some one might learn something from it.

I'd buy 1250 gallons of diesel. @ $4/gallon, $5000 doesn't go very far.

5k to get started with what i already know? Use it for startup costs for an LLC and maybe some extra tools, the rest for buying product

I'm dealing with this exact sane situation right now. I have around $5k I could invest into recycling but I want to make sure I do it right. I'm starting to see an upward trend in electronics recycling. Are any if you making a good return from it? Do you ship your circuit boards out of state? Any info is greatly appreciated. Thanks, ajm

Great old thread and do not know how I ended up here. I will explain how it was spent in the past.

Spent the first part of the business loading scrap into the back of the pickup by hand. Took the first $ 2,500 profit and invested in a 26 ft. flatbed gooseneck. The next $ 2,000 was invested in building a tub trailer out of a stock trailer. The next $ 15,000 of profit was invested in a used skid steer. The next $ 3,000 was invested in skid steer attachments. Yes I made that much the first year because there was nothing better to do.

In three years this strategy has yielded a business with two large loaders, one skid steer, five trailers, four trucks, and numerous tools. And to think, it is just getting started.

Not one cent has been borrowed, except one pickup was on loan for one month. Built a shop out of an old corn crib building the last couple of weeks to stay out of the weather. Does not have a door, but it keeps most of the wind and moisture off this old f**t.

So what would $ 5,000 be spent on. Nothing. It would be saved until I had $ 25,000 to get another skid steer. The next priority would be a semi and trailer to haul more.

As Walter Brennan would say, no brag just fact (for those old enough). Just wanted to point out you can still succeed using common sense, strong work ethic, and desire. We do not need government handouts.

And for those interested, there are no employees. Do not want to deal with the added headaches. When a challenge needs more hands, it is compensated with more will power. No I am not making a fortune, just enjoying the lifestyle. A Sir Scrap Quote: The sermon has concluded.

If I were given $5000, what would I do?

Nothing. A lot of businesses fail by over-investing in equipment. I do computer recycling and refurbishing. I have a 1995 F-150. It's plenty. And, I own it.

I'd put most of the money away, but I would invest some of it towards refurbishable inventory.

To clarify my previous post:

The newest pickup is a 2000 F-350. The other three were scrap trucks that were refurbished. No not a mechanic, but learning on the go. Out of the trailers, only one is commercial and the rest home made out of scrap parts. Both loaders were scrap machinery in the trees that were brought back to life thanks to the help of smart farmers. The cost of all equipment except the skid steer, commercial trailer, and one truck has been 1/3 scrap value plus parts and fluids. That is less than $ 5,000.

At the moment, but not here in NZ....
I think the best investment would be in doing a Freon course and getting the tools and certified.

Then advertising that you will remove freon and/or accept anything with freon in it.

For free on.... ( haha, just made a joke).... delivery.....

Maybe make a few bribes if its not illegal to dump freon into the air in your state.