How to Buy and Sell Scrap Metal

Scrap Metal Recycling is an industry that many people have entered into over the years. My family has been in this business for the past three generations. Many people think that it's fairly hard and that there isn't any money to be made. This isn't true. There is all kind of money to be made in the scrap metal industry and it is fairly simple. Whether you want to make a little extra money on the side, or make this your main source of income, there is always money to be made. All you need to start is extra cash and a truck.

First of, you need to start by finding companies that buy scrap metals. Your best bet will be to find a Scrap Metal and Iron or Metal Recycling company and see what they pay for the types of metals you plan on buying. Don't just call one place, make sure you call all that you find. Most companies will pay around the same amount, but there will be some whos price varies much more than the others. Once you have found a company whos price you are happy with, figure out what you are going to be paying for material. For example, if a company offers to pay you .13 on transmissions and you can buy them for $10.00 per piece, then you will be making a pretty good profit.

Once you have decided what to pay on the different types of metals, then you can start on your journey to finding it. Pretty much any type of repair shop is going to have various metals laying around, such as garages and body shops. Speak with the owner or whoever is in charge about you buying their material. If they are willing to sell to you, offer them a price for it that is reasonable enough to where you can still make a profit. Some of the metals you buy will be heavy to carry and you may need to find someone who will help you work for free or for a small amount of pay until you can build your business.

Alot of people tend to give metals away for free. Try looking on www.craigslist.com in your area for people who are asking for someone to clean metals out of their yard. Also, Yahoo has a group called Freecycle that you could try looking on, or even post an add for free scrap metal pickup. You will find that some small businesess don't even want the hassle, and they will give you what scrap metal they have for free. If you know anyone who works in any kind of industry that involves metals, tell them what you're doing, and they may have some to offer.

Once you have enough of metal to sell, take it to the place you found that pays the most. Getting paid is as easy as showing them your ID and possibly having your picture taken. Calculate what you paid for the material and what you yourself were paid for it. This is your profit for the days work. Sometimes your profit will be good, other times it won't. Don't let this discourage you. This is just part of the business. Somedays you may not profit $100.00, and somedays you may profit in the thousands. If you are thinking about making some extra money in the scrap metal industry, I hope that this has helped you to realize that almost anyone can do it.