A scrap metal business is a great business to be in. There is always scrap metal to be bought, and always large refineries looking to recycle. If you have started or are looking at starting a business in this industry, check out some of these tips on optimizing your business.
First of all, know your metals! This way when you are purchasing metal, you know exactly what you are getting and what you should be paying for it. This way you also know what to charge for it. Another thing you should know is how to tell the difference between ferrous and non-ferrous metals. A scrap metal generator can help you distinguish between ferrous and non-ferrous scrap metals
When you know your metals, it will help you with pricing. Know how much you will typically get for each metal. This way you have a good idea what to pay for it. Also, you have to know what customers are willing to pay for it. You want to make sure you have enough of a profit margin to make a profit.
Get a website design. For any business, online presence is key in this society. Social Media profiles are great, but a website can help you personalize your image, and can help you a ton with online advertising such as Google Adwords and search engines with search engine optimization.
Advertising is so crucial, as many people don’t think about who to call when they are looking to sell scrap metal until the problem arises. You need to make sure you are exactly where people are going to be searching for you. Post ads on classified sites like Craigslist, Kijiji or even Facebook Marketplace. Get your name out there so people know that you purchase scrap metal.
Expand your market! Don’t just sell to the small dogs, find metal refineries in your area and find out what they will purchase your metal for. If you can gain a good relationship with a decent refinery, you can have many of your metals out of your hands, shortly after they come into your possession.