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