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When you are selling scrap metal, the margins can be razor thin. Finding the best price for scrap metal and the best places to buy scrap metal from can go a long way toward improving your margins. Here is a list of 5 places you might find some great deals for scrap that you might not know about.
1. Your own backyard
Searching for scrap metal might be as easy as looking in your own backyard. You’ll be surprised at how much you can find in your garage. If you have a lot of tools, go through them and see what you don’t need anymore. Old car parts like rims or bikes that have been sitting there for years are great resources for scrap metal. Chances are you have some construction materials used to build your house like window screens or a pile of loose nails. All of these add up and could make you a nice profit. Remember, when you’re done, ask your friends or family if they have anything lying around too.
2. Donation Services
When the donation charities don’t want to take people’s “trash” it could be your opportunity to cash in. Most charities don’t want to take large appliances like microwaves, fridges or even TV’s. Call your local charities and see if they will work out an arrangement to inform you when they come across any of these items. Trust me, they come across these a lot, so this could pay off.
3. Auto Repair Shops
Old car parts, trucks, and other vehicles are perfect resources for buying scrap metal at a discount price. Many auto repair shops don’t have space or the resources to sort, market and dispose of car parts. Establishing a relationship with local auto repair shops could be an excellent source of discount scrap metals. Contact your local auto repair shops and ask if they have a partnership with any scrap metal purchasers. If you can provide transportation that could be a strong selling point.
4. Storage Companies
Storage auctions are an underutilized resource to find great scrap metal. They have high potential to bring big return on investments. Many of the storage auction buyers will sell the items they know about themselves. They might not know how to dispose of the leftover equipment and scrap metal. If you develop a working relationship with them, you could reap the benefits.
5. Construction Company
The most beneficial relationships are those that help both parties achieve their goals. Construction companies, builders and contractors produce a lot of scrap metals. If they don’t recycle themselves then they might need someone to clear the debris from their worksites. If you can develop a relationship with one or two construction companies you will see your profits soar.