Recycling businesses are everywhere. At least one establishment is recycling for profit, even in the smallest towns. As a result, there is money in the trash, especially regarding scrap metals.
What’s good about the scrap metal recycling business is that virtually anyone can do it. There are no complex skills to learn. Most of the operations are a matter of common sense. Anyone with an enterprising mindset and the determination to succeed can do it.
Start Anytime and Anywhere
The metal recycling business is not seasonal or dependent on specific supply or demand cycles. As such, it can launch anytime. However, this does not mean that the company can start spontaneously. There are essential equipment and tools to acquire. For one, getting the necessary permits and other related documents is vital. Also, there must be a solid business plan and a clear framework for operating.
On the other hand, engaging in scrap metal recycling can be feasible in most places. It can be viable even in areas where established scrap metal shops are already operating. The business can coexist with other recyclers. For example, some recycling companies buy from other scrap metal Kansas City recycling facilities. Some focus on collecting and sorting scraps so they can sell to the bigger establishments.
A little clarification – being able to start doing business anywhere does not mean disregarding the basic principles of doing business. For example, it is also crucial to ascertain that the location is close to potential sources of scrap metals and the expected buyers. It is also important to avoid operating in areas where residents are likely to complain. Complaints from neighbors are not only pestering; they can also result in the shutdown of the business.
How Much Can Recyclers Earn?
According to the International Centre for Trade and Sustainable Development (ICTSD), metal recycling businesses can earn between $65 and $115 per ton of scrap auto metal and $0.15 per pound of appliances. It may not sound that much, but the earnings will accumulate unnoticeably as the business progresses.
The ICTSD says that the metal recycling industry generates billions of dollars in revenue. Every year, around 90 tons of scrap metals are recycled. Therefore, it would not be a stretch to say that there is money in metal scrap recycling. It can be a good business for anyone.
What’s even better about metal recycling is that it helps the environment address the growing garbage problem. Scrap metal does not decompose and becomes an unsightly mess if left alone. Only recycling will make it usable and prevent it from adding to the unwanted piles of solid trash.
Learning the ropes of running a metal recycling business is not difficult. Some local governments would even readily extend their support, especially in knowledge transfer and acquiring essential equipment and tools.
The profits may not be as attractive as those in businesses that involve the mass production of goods. However, there will undoubtedly be profits. It’s also a bonus to know that the company is contributing something to the benefit of the environment.