If you’re looking for a new opportunity to make some extra cash, have you considered scrap metal collection? There is good money to be made in scrap metal but you need to know what you are doing and prepare yourself ahead of starting your venture. Let’s have a look at how to begin and where to find your trash to turn into treasure.
Who Will Pay For Scrap Metal?
You will usually have a local scrap metal dealership that will pay specific amounts depending on the variables of the metal you collect. This will change according to the metal you have, the weight and also how it is presented. This means you need to remove all attachments from the metal. So if you have something from the inside of a machine, you will need to remove anything connected to it. By having separate containers for all different types of metal, you will be able to present it to the dealership and get a price quicker than them having to wade through it. Usually you will go to the site yourself however some dealerships offer scrap metal collection if you have enough.
Where To Find It?
This is the important part. Where exactly are you going to find this scrap metal? It’s not just going to appear on your driveway, however other people might have things they are getting rid of. You could drive around, knock on doors or push flyers through letterboxes offering scrap metal collection. Check on local Facebook groups for people who want things shifted and promote your venture too. Just ensure all your scrap metal collection is legal. When you collect, be sure to be polite, as word of mouth is fantastic. Be careful when carrying metals away too. The last thing you want to do is scrape someones car. Consider getting some insurance. You will also need to contact your local council regarding a collector’s licence.
Arm Yourself With A Magnet
Check with your local scrap metal collection site as to what they accept and will pay for. Most will accept both non-ferrous and ferrous metals. This is where your magnet comes in. Non-ferrous metals (those that your magnet doesn’t pick up) will often be worth more. Keep an eye out for cast iron, heavy steel, light iron, copper, lead, stainless steel, brass, aluminium, zinc and bronze. There are other things that might be accepted as they have metal content. This includes car batteries, cookers, boilers, scrap machinery and alloy wheels.
Have ID & Bank Details
It is now illegal for scrap metal dealerships to pay in cash. However many do pay same day via BACS transfer. They will usually require a form of identification too. So ensure that you have these to hand when you take your scrap metal for weighing.
You could easily use your weekends to collect scrap metal as a side hustle. Store it in your garage in containers before collecting enough to take to the dealership. You could, of course, go bigger and get a van to do this as a full time job. Scrap metal collection can bring you a decent income if you promote yourself and offer a decent service. Many people are surprised at how much can be earned when the metals are weighed.
