How to Start a Scrap Metal Collection Business
Anything left over after a product is completely manufactured is scrap. Many forms of scrap including ones that derive from metals, discarded paper, rubber, plastic, etc have been granted economic or monetary value after recycling initiatives were launched to safeguard the environment from further devastation.
Scrap collection even today doesn’t receive much attention as most people perceive it as a job that gives them a bad name in their societies. People in your community might not give you proper respect as a scrapper but there is no shame in doing a job that gives you a hope of making your living.
Here is a definite guide to helping you start a scrap metal collection business.
1. Find scrap sources
Identifying places or sources which you can access for scrap metals is much important for any scrap collector. Households in your residential area, local auto repair shops, welding and fabrication workshops, construction sites, dumpsters, healthcare clinics, etc are generally some good sources of scrap metals.
2. Setup a scrap yard
You will require to find a space for setting up your scrap yard. However, the chosen space should realistically support your sorting, dissembling and storing activities. Put up a proper fence around so that thieves aren’t provided an opportunity to steal and flee away with scrap metal from your yard. Remember, the current prices of scrap metals are enough to attract thieves.
3. Buy equipment & vehicle
Purchase equipment such as gloves, safety shoes, reflective vest buckets, etc that ensures safe yet effective scrap metal collection. You also will be required a pickup truck to be used for loading scraps when you go out for collection.
4. Monitor scrap prices
Keep monitoring market prices of scrap metals regularly so that you don’t face any problem when it comes to determining prices which you will pay to scrap sellers as well as buyers.
5. Find scrap buyers
Find and establish a strong network with dealers to whom you will supply your collected scrap metals. You will be able to make more profits in case you want to directly deal with the firms involved in recycling of scrap metals because some percentage that earned by dealers will also land into your pocket.