Is copper scrap selling business profitable in india?
Answers
Answer:
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Explanation:
Scrap metal is the waste material generated in the form of metals. Metals are mostly used in all kinds of things. Those remains of the metals after usage are called metal scraps. If one talks about India then 26.9 million tons of metal scrap was generated in the year 2013-14. It is expected that the industry will grow to many folds by the next 5 at 12.48%. The international scrap industry is quite huge and is spread in $500 billion business that employs nearly 1.5 million people.
The usage of metal scrap is very huge given the requirement it has. The recycling business of metal scrap is quite huge in the world. India too is a big market of this great industry that employs around 6-7 lakh people. The growing industry has huge future promises as well. Nearly 40% of the steel in the world is made from metal scrap therefore one estimate how big this market is. In this article you will get to know about scrap metal recycling business opportunity and profitable business plan to start your own metal recycling plant.
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Answer:
Explanation:
See ,The world of recycling and salvage depends on scrap metal businesses to locate, gather and deliver various metals for further use and consumption. By operating a scrap metal business, a business owner can make an impact on the environment by reducing landfills and maybe turn a profit. For some, the excitement of finding hidden treasures fuels them while others like the idea of making a profit from garbage-bound material.
1. Complete a business plan. Make an attempt to accurately forecast potential profits or losses, capital requirements, equipment needs and business expenses. A complete business plan also includes information pertinent to the future growth of the company, including forecasts regarding adding additional employees and costs associated with expansion. In the scrap metal business, expansion can include the need for additional trucks and loading equipment. Contact the U.S. Small Business Administration for additional help with developing and executing a business plan.
2. Purchase equipment and find a location if necessary. Smaller operations can start with one truck or van and operate out of their home. This allows a sole proprietor the freedom to reinvest profits into an expanded operation when and if desired. Larger operations may need several trucks as well as warehouse space or an expanse of land to store and separate loads of metal objects. Larger construction equipment, such as a backhoe, can also be of help to a larger scrap metal operation.
3. Obtain necessary licenses, permits and insurance. Check with your local and state government concerning license and permit requirements for scrap metal dealers, as some may require registration and specific operating permits. Contact your insurance agent to obtain business vehicle insurance for any truck, van or automobile that you plan to use to haul material and scrap metal. Scrap metal businesses pose certain risks, because metal objects, such as metal poles and aluminum siding, can turn into projectiles if not tied down securely.
4. Find a territory and market your scrap metal business. Get out on the road and start exploring opportunities available to scrap metal businesses in your area. Scrap metal businesses can start by recycling metal scrap found on the side of the road on garbage night. Check local community directories for trash pickup days in surrounding areas. Contacting demolition companies and homebuilders can also lead to referral work for scrap metal haul-away. Advertise in local newspapers to reach homeowners who may want to dispose of scrap metal from a garage, basement or backyard.
5. Locate a buyer for your scrap metal. Look in your local telephone directory and online to find recycling centers in your area. Contact each and ask the current price for aluminum, steel and other metals. Take your scrap metal to the recycling center that currently offers the best rate. Repeat this process every week to keep an eye on the market and ensure you are receiving the best price for your scrap metal.
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