Q&A for How to Start a Scrap Metal Business

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How to start at a small level?

Community Answer

Collecting all the iron from a local area and sell it to the recycling factories.

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Question

How do I keep my scrap metal business in business?

Community Answer

Low volume, high margins or high margins, more volume. Cut overhead to an absolute minimum. If you can do it yourself, all the better. It all adds up.

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Question

How do I find the market price in scrap?

Community Answer

Check online or in the regional/national newspaper.

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Question

Where I can get large amounts of scrap metal?

Community Answer

You can contact local vendors in your area.

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Question

What is the initial cost when starting a scrap business?

Community Answer

it depends on what type of scrapping you want to do. If you are starting the business in the field of iron and steel, then it would be expensive in comparison to polymeric world business, for example. So, there is no one answer to this question.

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Question

Could I run this business from home?

Community Answer

Yes. Scrap business can start in your home if you have a space for storage of your collected metals.

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Question

What is the initial start up money on a small level?

Community Answer

Depends how small you start. You could hypothetically start scrapping with just a few plastic grocery bags, collecting aluminum cans! If you want to start scrapping on a worthwhile scale, without making it a primary source of income, I suggest the following (price estimates in Canadian Dollars): good pair of work gloves ($5-$15), a strong dolly ($60-$150), sturdy straps (for the dolly) ($10-40), a good set of hand tools: wire cutters, hammer, multi-head screwdriver, adjustable wrench ($15-$40), several sturdy 10-gallon buckets ($4 at Home Hardware), OPTIONAL: Bolt Cutters ($20-$40), AS YOU GO: Trash bags, Contractor bags.

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Question

How do I get a permit for a scrap metal yard?

Community Answer

Start an LLC and go through leads online, they decide whether you are eligible to have that type of license.

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