Price of scrap down twice in 2 days - trying to stay motivated

Originally Posted by Patriot76

A good business person will take advantage of lower prices to make contacts, increase business, expand equipment/inventory, and develop a business plan. Those that study history know that many millionaires were made in scrap during troughs in the business cycle. Few make a fortune working the system only during peaks or just "turning and burning."

Example: When prices are low try to buy the equipment from your competition. Your cost will be lower and it will make it harder for them to become your competition when the prices increase. It may not be low enough yet, but just wait and it will happen. I bought all the torches I could when the price was $ 20.00 a ton here and now the competition has to invest close to $ 500 to get back in when the price hit $ 160 a ton. The same strategy was used for demo saws and trailers. Stockpiling is another successful strategy when prices tank. Of course you could just go fishing until the prices rebound.

Now that right there is quality advice.



I may just have to name a cooler after Patriot.

Sirscrapalot - I went to a fight the other night, and a hockey game broke out. - Rodney "I get no respect" Dangerfield