Thinking of opening new scrap yard

I am currently trying to open a scrap yard and was wondering if anyone can tell me what kind of profit margins do smaller yards make selling to larger yards verses selling direct to refineries?

First and foremost introduce your self to the forum. After introducing yourself other members might introduce themselves. The more you read the more credibility you will have. In the upper right hand corner is a search button to allow you to research previous threads and allow you to get to know the members. There are numerous threads on this site that will provide you with inside information.

As far as profit margins, it depends on how much you can get. Extended contracts, brokers, and other elements control this. Transportation costs, labor, equipment, etc. will dictate your overhead. If you want more information, PM me after you have earned the right. Good luck.

I hope you have some experience scrapping and have done some footwork making contacts, and don't just suddenly want to start a yard out of the blue, also do you have the finances to start a yard?

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Originally Posted by Longhairboy

I hope you have some experience scrapping and have done some footwork making contacts, and don't just suddenly want to start a yard out of the blue, also do yuo have the finances to start a yard?

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A very quick way to lose customers is to run out of cash

I say GO FOR IT!!!!!

Scrapping is sooo last spring...I'm opening a Diamond Mine.

imma gunna get with Mec and go big on
http://i29.photobucket.com/albums/c2...l/rountuit.jpg
There is obviously a high demand for these suckers and the deluxe model outta sell like hot cakes at an Ihop

#weregunnaberich

Starting your own business is tough, I'd say if you want to go for it make sure you know the market in your area and if there's a need for another scrap yard think about it. Make sure you have a significant amount of capital on hand, and when you're thinking about costs double all of them because there are so many little costs here and there and taxes and regulations that'll cost much more than you initially expect.