Need Advice! New Scrapper with $5k to invest!
Hi all! Love this forum! Well, as stated in headline, I have managed to sweat and save $5k to invest in recycling business. I need advice from some of you who have been at it a while; and some of you who are dealing with new regulations.
My question here is; what is the best way to use a $5k investment to turn a sure profit quickly? I'm concerned that of I spend too much on tools and supplies that it'll take to long to get a return on my investment. And could leave me without adequate operating capital. However, if were to invest in buying some "breakage " to scrap out, I would definately need equipment for processing and hauling scrap. $5k doesn't give me a lot of wiggle room. But it's all I have. I worked my butt off to save this money. I can't afford to lose it.
I also wonder if anyone is actually making descent profit from e-scrap??? I would like input from anyone who is. What would be the best way to set that type of operation up? I'm also thinking about getting into used motor oil recycling? Is it really feasible? Also, should I just open a full blown (small) scrap yard and start buying from public? Please help! Any input is greatly appreciated. Thanks, Arky
Need Advice! New Scrapper with $5k to invest!
thanks Mike. I think that's pretty good advice. Any tips on best places to buy breakage to scrap out (considering current regulations)?
Need Advice! New Scrapper with $5k to invest!
thanks Mike. I recall seeing a Guy with trailer load of scrap he was hauling about a month ago. I spotted a huge a/c unit in his load. He hauled it to scrap yard all intact. I guess its like people who pay other people to walk their dog, wash their clothes, buy their groceries for them etc. there's always gonna be ways to profit from other peoples laziness. thanks for advice Mike. and also thanks to sirscrapsalot for your kind response
Need Advice! New Scrapper with $5k to invest!
I've been there and done that and saved $5k doing it. Ready to go full swing with something bigger. I wanna become a buyer with steady supply of profitable scrap. Thanks for your response, Arky