![]() How can you make your business more profitable? A small one-man side business can net a few thousand a year, while a large processing center is able to generate hundreds of thousands of dollars. However, when you work the market to find your scrap for as little as possible and sell it when there is a spike in the demand you can see significant profits. With increased competition in the recycling market, profit margins for scrap recyclers has been narrowing over the past decade. How much profit can a metal recycling company make? Pickup fee schedules can be as low as $50 and run up to $150, depending on your market and size of vehicle needed to move the scrap. Rates for metals run from a low of around $150 per ton up to $2.00 per pound and will change weekly. A large recycler sells their processed, chipped, and shredded metals by the truck load to industrial manufacturers for use in new products. A metal recycler earns an income by bringing sorted metals to the yard for sale. Scrap yards pay for sorted recyclable scrap metal by the pound and issue new prices on a daily basis. How does a metal recycling company make money? Used car dealers, automotive shops, and junk yards consistently offer up old cars for recycling. They are willing to pay you to remove it from their site. Who is the target market?Ĭonstruction and demolition contractors consistently produce quantities of scrap metal. Insurance, machinery maintenance, payroll, taxes, and accounting will be added to your larger concern. You will need to maintain your vehicle for your small business. What are the ongoing expenses for a metal recycling company? If you are looking at opening a scrap yard or full-scale recycling center, the investment rapidly climbs to a minimum of $250,000 and up for the land, scales, heavy trucks, heavy sorting equipment, staff, and office buildings. This can be accomplished for around $40,000. You'll need a truck or van, a collection of basic tools including a cutting torch, safety gear, and any licenses required by your local government. It's very important to secure your domain name before someone else does.įind a Domain Now Submit Powered by What are the costs involved in opening a metal recycling company?įor an individual looking to do some scrapping on the weekend, you can go into business on a fairly low budget. When registering a business name, we recommend researching your business name by checking: If you operate a sole proprietorship, you might want to operate under a business name other than your own name. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Metal Recycling Company Name Generator What will you name your business?Ĭhoosing the right name is important and challenging. Luckily we have done a lot of this research for you. What are the startup and ongoing costs?.It will help you map out the specifics of your business and discover some unknowns. STEP 1: Plan your businessĪ clear plan is essential for success as an entrepreneur. Exploring your options? Check out other small business ideas. These steps will ensure that your new business is well planned out, registered properly and legally compliant. We have put together this simple guide to starting your metal recycling company. Create your Metal Recycling Company Website.Define your Metal Recycling Company Brand. ![]() Get the Necessary Permits & Licenses for your Metal Recycling Company.Set up Accounting for your Metal Recycling Company.Open a Business Bank Account & Credit Card.Register your Metal Recycling Company for Taxes.Form your Metal Recycling Company into a Legal Entity.Start a metal recycling company by following these 10 steps:
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