How to Enter the Scrap Metal Market

Erwin Oropesa

Starting a scrap metal business can be very profitable after the first couple of years. Depending on which level of business you want to go in to, the initial investment can be very small or very large. First, it’s essential to know your metals, and which types of metals you’ll be collecting.

 

Collecting Scrap Metal

 

Collecting metal is by far the simplest way to enter the business. Many people and companies have old equipment and machinery lying around that they would love for you to haul off. Before you begin, connect with the nearest metal recyclers to understand how they do business. For this aspect of a scrap metal business, all you’ll need is a pick-up truck, sturdy clothes, boots and gloves, a magnet, metal snips, saw, wire-strippers, a scale, and some tie-downs. You’ll need to strip the metals of any other materials such as plastic, paint, or rubber coatings

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Buying Equipment for a Startup

Erwin Oropesa

New businesses face unique challenges when it comes to equipment procurement and financing, because financial institutions have a bias against lending to businesses that don’t have an operating history but operations can’t start without equipment. That’s why so many entrepreneurs wind up raising money through equity sponsorship and debt investment. There are other ways to get the equipment you need, though. When you are purchasing heavy infrastructure pieces that will form the backbone of your company’s production, the SBA offers a path to financing specifically designed for small businesses. The only real catch is that the administration requires you to prove you will create jobs or otherwise improve the local economy, on top of being financially healthy.

What To Buy and What To Lease

Purchasing equipment isn’t always the best idea. If you’re getting galvanizing tanks, cranes, or other pieces that can have decades of operating life when properly

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3 Trending Franchise Businesses

Erwin Oropesa

Many people dream of owning their own business but are intimidated by the start-up costs and high learning curve. Opening a franchise business can be an ideal alternative to starting your own business from scratch. There are many franchise opportunities to choose from. These are three of the most popular.

 

Optical Franchises

 

Optical franchise opportunities can be ideal for people who want to make a difference in the health of their communities. 64% of Americans wear prescription eyewear and 3 out of 4 adults use some type of vision correction. Additionally, 1 out of every 4 children requires vision correction. Eye health is an essential service that you can help provide your community, while also running a business in an industry that has generated $40 billion in revenue. Modern technology has made this a flexible option with online sales and mobile locations being an option alongside traditional brick and mortar

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