Results 1 to 9 of 9

profitable?

| Off Topic Discussions
  1. #1
    Germanwolf started this thread.
    SMF Badges of Honor

    Member since
    Feb 2014
    Location
    gray court, SC
    Posts
    7
    Thanks
    2
    Thanked 4 Times in 3 Posts

    profitable?

    dont know where to post this so ill post here, me and three friends. four people. were thinking of scrapping together. one has 53 acres so we were planning on putting another trailer on his property me and my fiancee and my friend josh live in the one trailer, my friend and the other one live in the other trailer. got enough property for sheds and to store metal and even work on cars on the side (friend josh is a mechanic) so that said, could four people, two per truck, make enough to survive off just that? each truck hitting up diff towns on a route? minus gas and insurance would that be profitable?


  2. The Following User Says Thank You to Germanwolf for This Post:



  3. #2
    MattInTheHat's Avatar
    SMF Badges of Honor


    Member since
    Sep 2012
    Location
    rock hill, sc
    Posts
    1,464
    Thanks
    1,142
    Thanked 1,396 Times in 703 Posts
    depends on how much stuff gets put out

  4. The Following 2 Users say Thank You for This Post by MattInTheHat:


  5. #3
    wayne1956's Avatar
    SMF Badges of Honor



    Member since
    Aug 2010
    Location
    Cleburne, TX
    Posts
    705
    Thanks
    195
    Thanked 754 Times in 293 Posts
    Probably not for a while, not until you get some consistent clients/pickups set up. Very few people do this full time, and it is rough enough for one person to make a living, much less 4. Your best bet to make a go at it full time with that many people is to look at scrapping cars, but then you are looking at a different type of hardware too.

  6. The Following User Says Thank You to wayne1956 for This Post:


  7. #4
    sawmilleng's Avatar
    SMF Badges of Honor


    Member since
    Feb 2013
    Location
    Central Kootenays, BC, Canada
    Posts
    861
    Thanks
    713
    Thanked 1,200 Times in 521 Posts
    I would suggest you do a search on partnerships on this forum. It looks like most of them have been disappointing. I personally have no experience but would suggest you should at least put something on paper so everyone in your group knows the setup, their responsibilities, and how the money is divided.

    It seems to me that a lot of the problems come when someone starts to not pull their weight.

    Jon.

  8. The Following 2 Users say Thank You for This Post by sawmilleng:


  9. #5
    Patriot76's Avatar
    SMF Badges of Honor


    Member since
    Dec 2012
    Location
    Buffalo Commons
    Posts
    2,949
    Thanks
    10,591
    Thanked 7,218 Times in 2,256 Posts
    You might be the first scrapping commune in history. To put it in perspective, it is hard for a single individual to make a living scrapping full time. Add a working wife in the business may or may not make life easier. Now you add three kids (okay buddies) and how does everyone pull their own weight. Dream big and you might be very successful, many of us believe in the American Dream. Honestly, there is no way my wife and three best friends will ever meet each other, much less go into business together. That is like gas and fire. It was a tough decision at the wedding. We are still married and I see my friends often so it must have been the right decision.

  10. #6
    Mick's Avatar
    SMF Badges of Honor



    Member since
    Aug 2010
    Location
    Palermo, Me
    Posts
    3,405
    Thanks
    363
    Thanked 3,086 Times in 1,326 Posts
    First thing to do is develop a very solid Business Plan. This would include what each partner puts into the business, the roles of each person and how labor is to be allocated. You will also need to set up a Business bank account. DO NOT allow business and personal funds to mix - anywhere. Until you understand these concepts you are not ready for a joint business venture.
    People may laugh at me, but that's ok. I laugh all the way to the bank.

  11. The Following 3 Users say Thank You for This Post by Mick:


  12. #7
    corycouch's Avatar
    SMF Badges of Honor


    Member since
    Dec 2011
    Location
    jonesboro ar
    Posts
    1,405
    Thanks
    3,766
    Thanked 1,988 Times in 746 Posts
    over the last year I worked as just a junker or scrapper, kept my bills paid acquired new tools and kept food in my stomach. I even managed to stockpile several tons of scrap in the form of cars, I've only got 7 cars left at the moment. To get to that point I had a partner for about a year and a half, we both kept our full time jobs and hauled cars in our spare time.

    The above is so true in partnerships, no matter what happens someone or everyone is going to think they contribute more. I went full time the end of 2012 and steve kept his job. We went from best friends to a relationship that was worse than my divorce. We have since become good friends again and he is going to pick up cars for me at a flat rate when I am out working on cell towers. That being said owning your own business means making sacrifices, it can cost you everything and even friendships, at the least it will push its limits. With you wanting to go in with three other people I would avoid this at all costs. Whose in charge, who contributed the most, who needs money for their kids diapers, my cars outa gas. Just think of all the little things you buy and need every week and multiply that by 4. I don't care how close you think you are, this stuff will happen

    After All that I've made it by myself the last 7-8 months, kept a guy paid until he got another job and I started the cell towers in October or so. I still buy a few when I come home. Had I not lucked into the best job ever I would still be hauling about 10 cars a week.

    In my opinion the four of you should get jobs that can turn leads into scrap, that way you will have a steady paycheck. The mechanic is a no brainer. Get a job at a scrapyard, I get leads from my own yard every week. Get on your feet and then if your willing to lose everything sure, go for it. All it takes is grit and hustle

    Check out patriots thread about a scrappers dream, he tells his story about going from picking up cans to doing demolition on a power plant. If that story doesn't give you inspiration nothing will

    I'm not trying to discourage you from your dreams,as a matter of fact I encourage you. you just need to understand the consequence of failure, it can go way beyond money. Lots of highs and lows and whatever you decide to do good luck
    expect the worst and hope for the best
    cory couch
    c & c recycling
    JUNKERS AND CLUNKERS
    (870) 897-6484

  13. The Following 7 Users say Thank You for This Post by corycouch:


  14. #8
    SMF Badges of Honor



    Member since
    Feb 2012
    Location
    OK
    Posts
    5,731
    Thanks
    6,815
    Thanked 3,465 Times in 1,990 Posts

    Facing the facts: Profitable?

    That's an awesome post Cory, and a great success story, along with some very interesting, cold, hard, facts, which touch on the flip side of your success ( I almost believe you'd be successful at most anything Cory, with your present frame of mind. So, the flip side might go something like this,



    Quote Originally Posted by Germanwolf View Post
    me and three friends. four people......me and my fiancee and my friend josh live in the one trailer, my friend and the other one live in the other trailer
    To me that adds up to 5? Which one owns the property? He'll likely want(and probably get) the biggest say in anything happening there. You don't need something in writing there, you need it chiseled in stone.


    Quote Originally Posted by Germanwolf View Post
    we were planning on putting another trailer on his property
    Who's supplying the trailer, who's bringing it in and setting it up, who's footing the bill?


    Quote Originally Posted by Germanwolf View Post
    could four people, two per truck, make enough to survive off just that? each truck hitting up diff towns on a route?
    It's getting fairly rugged out there man, not wanting to burst your bubble, but just today I noticed on a quick trip to town, I took the dirt route, usually a clean air, totally "green"(except maybe in winter ; ) drive.
    1. Saw on side the road a huge pile of trash (never seen this before, and I've known these dirt routes since I was born), but not just any trash, a huge big screen tv totally stripped of any innards and boards, two tires with the rims missing, and a golve box spare they didn't bother to remove the "tin" rim from, all just tossed on the side of the road.
    2. In town noticed a guy walking down an old trashy drainage, his gf/fiance/wife , although reluctantly, not far behind. As I passed by his pickup noticed some rusted stuff in the bed, maybe a hundred pounds at best (worth about $6 here)
    3. When leaving a care facility saw, for the second time, an old wheelchair and folded tin roof gutter from yesterday, behind the maintenence, with a new addition, some galvanized vents, adding maybe another dime to the mix.

    some people get "lucky", but the odds are dwindling, and the competition is getting severe.
    From 1. I deduced one thing, word gets around
    From 2. I could only pity the couple, doing all they could find to do
    From 3. I could only figure new accounts are few, far between, hard to find, and very slim

    We really don't need more scrap, we need more jobs, I think you'd do well hoping for one too, where you could have a steady check, and your own (even if steadily rented) place


    If you're planning to attempt this venture, I wish you well, although what I really wish is we had more jobs here, but it seems they've mostly been shipped to other countries, same as the majority of our scrap has been

    Quote Originally Posted by Germanwolf View Post
    minus gas and insurance would that be profitable?
    No further comment : \

  15. The Following User Says Thank You to Bear for This Post:


  16. #9
    wayne1956's Avatar
    SMF Badges of Honor



    Member since
    Aug 2010
    Location
    Cleburne, TX
    Posts
    705
    Thanks
    195
    Thanked 754 Times in 293 Posts
    Mick, corycouch and Bear, all well said. These post should give pause to anyone who thinks about going at it full time (especially with partners) and let them know many points they need to think about, and several pitfalls to try and avoid.

  17. The Following 2 Users say Thank You for This Post by wayne1956:



  18. Similar threads on the Scrap Metal Forum

    1. Bought some stuff in a moving sale, not sure if going to be very profitable.
      By crownvicscrapper in forum A Day in the Life of a Scrapper
      Replies: 8
      Last Post: 02-15-2014, 06:53 PM
    2. How to become a profitable scrapper?
      By dryvr12 in forum Scrap Metal Tips and Advice
      Replies: 20
      Last Post: 08-31-2013, 06:27 PM
    3. Had a fun, profitable and knowledge increasing day.
      By parrothead in forum General Electronics Recycling
      Replies: 13
      Last Post: 01-31-2012, 12:40 AM
    4. Had a fun, profitable and knowledge increasing day.
      By parrothead in forum A Day in the Life of a Scrapper
      Replies: 3
      Last Post: 01-29-2012, 07:14 PM
    5. Scrap Depot profitable?
      By Sharky-Li in forum General - Let's talk business
      Replies: 5
      Last Post: 07-11-2011, 10:18 PM

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

 
Browse the Most Recent Threads
On SMF In THIS CATEGORY.





OR

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

The Scrap Metal Forum

    The Scrap Metal Forum is the #1 scrap metal recycling community in the world. Here we talk about the scrap metal business, making money, where we connect with other scrappers, scrap yards and more.

SMF on Facebook and Twitter

Twitter Facebook