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.
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