Don't Throw In The Magnet
Recently there was a large drop in the scrap metal market due to a drop in demand in construction for new materials. The metal prices saw a large hit within both the non-ferrous and ferrous markets. This got us thinking about some things to keep you motivated while you continue to make money, even when it doesn't seem like you can. Here are some ideas and steps you can take to make the most of the situation and continue to make money scrapping.
Reinvest in Yourself - Now that you have learned how to set money aside from your scrap jobs, a lull in action is a great opportunity to look into purchasing some new equipment for your scrapping jobs. You may want to spend some extra time shopping around for the best deal on that new hand truck you are looking at or investing in a sawzall to make cleaning aluminum a much easier job. To make any business better you have to put money into your project to continue to grow and expand.
Finish Up Those Projects - Now that you have some time to spare it would be a good opportunity to take time to finish up painting the new contact info on the side of your truck or building the handmade wire stripper you have wanted. Perhaps the truck could use a good tune-up to continue to work well for you and those large jobs you have been hauling lately.
Finding More Scrap - Finding new places to get scrap is always a good way to continue to grow and work harder. A few times a month it could be useful if you connect with local businesses who may be renovating, local neighborhoods that could have construction going on, and much more. Be sure to have a business card on you to give your information out easily to new potential customers and partners.
Do Scrap Work - While scrap prices are lower, it could be a great time to separate all of those wires you have and spend some time stripping them. If you don't want to cash in right away and you want to hold onto your scrap, stripping the wire and taking apart other materials like computers can make you more money once the prices jump again.
Organization is Key - Making more money recycling your scrap metal starts with organization in your garage, shed, truck, or anywhere else you may keep your scrap. Having bins and containers ready to separate your copper, aluminum, steel, wire, e-waste, and more is important to make sure you are getting the best prices for your scrap metal.
Be Ready - The next big job might only be a phone call away, so make ure you are always ready to answer it.
For more great tips and inspirations to help you scrap better, be sure to check the iScrap App on Facebook for daily posts for metal prices, descriptions, safety tips, weekly market updates, and more.