Steemit Engagement Challenge - S7W4 |Trading Scrap As Safe and Booming Business
The business sector, as you all know, has become one of the major growth sectors around the world. India is going through the same phase, even though we are still not at par with the developed countries, but we are finding innovative ways to do business while still adopting traditional business methods. I must stress the point that we need to look for and adopt non-traditional methods.
Here, I would like to present a business idea for upcoming entrepreneurs looking for a great idea with a small or large capital. The business of junk and recycling is one such possibility.
“Every problem is a gift — without problems we would not grow.” – Tony Robbins,
May I ask you just what you do with your waste items? Most of you either discard them or sell them to people who buy used or unusable items. But this business is mostly unorganized and in a small sector, which needs to be handled in a more organized way and with a proper business perspective.
After all, we recycle pretty much everything that can be recycled, but most of our business is unorganized or people don’t take it seriously, so the result is that the major chunk of profit is going to a few people who exploit the people involved in recyclable item collection on a small scale.
Would you believe big countries are sending their junk to our country for recycling, and we are making new items from them? No matter what kind of junk, waste, or even garbage it is, we know there is a way to recycle old items and make a lot of money out of that. We are quite capable of recycling, so let’s make it a profitable business idea.
You know that in many advanced countries, there are usually many such substances that end up in the garbage bin. For your information, about 50% of the billions of tons of waste generated every year in the world ends up in landfills or the sea, which has an adverse effect on our environment. And I can tell you we are fortunate enough that we recycle most of our junk; otherwise, our cities would have become mountains of garbage.
By recycling common items, we protect the environment and the economy of our country, and I propose to you that you start a business selling recyclable items. That will help you earn a lot, and at the same time, you can contribute to saving the environment around the world.
Not only in our country but in many other countries, we take most of these items to recycling centers to convert them into something else. It is not only a good way to help the environment, but it is also a good way to make money.
We know that most items can be reused, and we are not a very rich country that can afford to throw them away for free, but a very large number of items that could be recycled end up in landfills. You must have seen poor people collecting recyclable items from garbage dumps and selling them to vendors in this business. You can take their services and provide for their livelihoods, and they will become your business partners as junk collectors on a contract basis.
When any item in your house gets damaged, you throw it away, which is obviously called “junk,” but do you know that you would have thrown away the items in your house, considering them useless and damaged? Yes, for some, the same thing is worth more than gold. Yes, you read that right. Many people make a living by hauling junk. Not only that, but many people have gone so far in the junk removal business that you cannot even imagine.
You might think that most people dealing in junk are from lower strata, but now junk business is considered a respected business. People are earning in millions and even billions by doing scrap business. Today, the scrap business is emerging as a profitable business, and now many educated people are trying their hands at this business.
What exactly is “junk business”?
Any item that gets damaged due to wear and tear or stops functioning due to any other reason. The large motors and burned engines, as well as the used cans, are all recycled.Used clothes. Old plastic items, ships, buses, and cars—pretty much everything that we manufacture turns into junk when its life cycle is over.
Many people make a living by collecting junk. They come to your house and collect junk and sell it at the scrap shop, and then the person with the big scrap shop collects their scraps in large quantities, fills them in a truck, and sells them to a bigger scrap shop or to a recycling company.
When you sell the junk from your house, you get money in return, and the person who takes the junk from your house sells that junk, and when a trader with a big junk shop sells that junk to a company or to a recycling business, they all make money.
What is scrap?
Source
Junk in the form of waste paper, iron, oil tin, cardboard, iron fans, a laptop, a computer, a smartphone, a tablet, aluminum, copper, electronic items, furniture, old motors, iron in trucks and buses, etc. I would like to mention that if you’re planning it on a larger scale, there is a bigger market waiting for you.
Apart from this, according to the demand, you can explore deeper and buy many other items, but steel and iron are in great demand. Things made of iron are in demand because, by recycling these items, re-rolling factories make useful items from them, which include iron bars for making homes. Recycling of plastic is another great idea, and that has a lot of margin in this business.
If you do not have enough capital to start a junk business, you can start it on a smaller scale as well. Let me tell you that you need no license to start the business of scrap at a small level. On the other hand, if you want to do the business of buying junk on a large scale, you will need a junk yard, vehicles, and GST registration.
Investment in the scrap business
The amount of investment you will have to make to start a scrap business depends on the level of your business. To do it on a large scale, you will have to invest a large amount, but as financial institutes provide funds based on your business ideas, the arrangement of finance should not be a problem. You need to have either the check or the orders in your hand to arrange enough funds.
Other expenses: You will have to spend on junkyards, offices, furniture, transportation, etc. As most big shipments are sent directly from the seller’s place to the recycling center, so you do not have to spend much to store them. However, in the case of smaller consignments from local area workers, you might store them for a few days before you have enough material to transfer them to recycling centers.
Choose a location with good transportation and a high concentration of recycling centers, such as re-rolling mills or units that manufacture plastic items, for your scrap recycling business.
Scrap Business Registration and License
When you have the funds to invest and all your preparations are done, get a license for the scrap business and get it registered. After the legal processes are completed, you can start your junk business.
Documents needed for the scrap business
To start a small-scale scrap business, you do not have to do any paperwork, but to start it on a small scale, you have to do some paperwork, for which you need the following documents:
Address Proof
Bank account
Phone number
GST registration number
Your email id
NOC etc if trading with foreign dealers.
Recycling Centers Information of your Area
Whatever junk you buy, you also have to sell it after it has accumulated in large quantities. That’s why you should know about the best location to start your business and whether there are enough junk recycling centers nearby. Being closer to recycling centers reduces the cost of transportation.
Vehicles for scrap transportation
Source
You will also need a four-wheeler to bring the purchased scrap to your shop and keep it in the godown. That’s why you should also manage 1-2 four-wheelers; you will need a truck to sell the collected junk to the recycling center or to a big scrap dealer. If you have the budget, you can buy your own truck secondhand, or you can also hire trucks from the market.
Even though you will have to invest according to the size of your business, you will get a good return, which I assure you has the potential to earn you millions, and it’s a profitable business besides having almost no risk of not finding customers or your stock going to junk as it’s already junk.
FAQ
Q: What is the business of junk?
Ans: The business of junk is called buying used items and selling them elsewhere.
Q: What junk do people buy?
Ans: waste paper, iron, oil tin, cardboard, coolers, fans, etc.; if you’re looking for a bigger investment, you can buy old factories, ships, etc.
Q: What is the cost involved in the business of scrap?
Ans: You can start with as little as 2000 STEEM, including everything, and there is no higher limit.
Q: What is the profit margin in the scrap business?
Ans: Depending on the volume of your business, you can make a lot of money.
Q: What license is required in the business of scrap?
Ans: No license is required unless you are dealing with foreign suppliers directly and doing it on a large scale.
So all you need to start this business are innovative ideas and a business mindset. The world is full of junk; take as much advantage of this junk as you can to convert it into pure gold.
I invite-
@damithudaya
@ripon0630
@patjewell
25% @null
Assalamualaikum,
Dear brother, You have explained the business of scarp in a well manner. You have strong grip over this topic and you have explained it very well.
My brother, I appreciate your efforts for motivating people to start this business as this business will help to eliminate waste materials and will help to improve the nature. Furthermore preparing material from scarp will sort out the problems created by producing the same things from industry.
This business is environmental friendly as well as very profitable as I have seen that many people in our society gather waste materials such as rubbish, Paper, Iron material and sell them in good prices to company.
But you mentioned that we can own that company that prepare useful material from scarp. I appreciate your hard work for making this post.
Please keep promoting these things which improve our nature and help to reduce pollution. Good luck in this contest ☺️
Thanks bro for such a nice review of my humble effort. I wish you best in your journey on this platform and would like to visit your post in a short while. 👍
TEAM MILLIONAIRE
Congratulations, your comment has been successfully curated by @franyeligonzalez at 10%.
Thank you @franyeligonzalez for your support ☺️
Okay... you've put a smile on my face.
Many moons ago our family had a scrap metal business. Ernst Scrap Metals, in Potchefstroom, South Africa. It still exist but under new owners.
I even worked there for a few years before I bought my first restaurant.
It is indeed a very lucrative business especially if you can get contract with some of the bigger companies like construction companies, steel works, etc.
Our biggest assets were;
You are right, scrap is all around us.
Good luck with the contest and thanks for the invite.
As I handle various marketing and heavy industrial projects, I think I have an idea of the scrap and its management. I know the utility of the hydraulic car press body, but that is not possible for smaller traders.
Besides, in India, cars are not sold in whole but in parts, but I know these are useful for making a car into a small piece, which again reduces the cost of transportation.The most profitable business in India is dismantling large industries, and cutting ships, and selling their useful parts to different traders.
Thanks again for accepting my invitation and such a nice comment, my best regards.
Did you watch the match between India and England under19 held in your place?
I've actually watched a documentary some time ago regarding the "ship graveyard". It was so interesting.
As for the cricket, yes I did. I was so surprised when England beat Australia. I truly thought a score under 100 is way to low.
As for India, they dominated England. 7 Wickets!
Best of all, it was played in my town of birth. The one I've also mentioned we had the scrap metal dealership, Potchefstroom. (•ิ‿•ิ)
Actually the ship graveyards is a big business in India and most ships are brought here for dismantling.
I wish I was there to watch that finale in Potchefstroom. By the way I saw almost all matches played in women's world cup in Australia 2020-21. I even met Shefali Verma, the Indian captain in this tournament and other players from various countries (in Canberra, Sydney and Melbourne) as I was close to ground and players' dugouts were in our easy reach.
Oh wow! You lucky fish!
One of the highlights of my life was standing in the middle of the MCG shouting my name. I get goosebumps just thinking of it (•ิ‿•ิ)
I know how it feels to be there in a ground-
This was me in Canberra during a match between Australia and English women.
And me on the MCG (•ิ‿•ิ)
👍🎉
great post! The post highlights the importance of the business sector in driving economic growth and highlights India's growing entrepreneurship landscape. The author then proposes a specific business idea for entrepreneurs, which is the junk and recycling business. The author explains that this business is underdeveloped and poorly organized, leaving room for growth and improvement. They argue that not only is the recycling business environmentally friendly, but it also has the potential to be a highly profitable enterprise.
The author notes that large countries are already sending their waste to be recycled in India and highlights the importance of recycling in reducing the amount of waste that ends up in landfills and the ocean, which can have adverse effects on the environment. They suggest that entrepreneurs can start their own recycling business by working with junk collectors to collect recyclable items and selling them to recycling centers.
The author then discusses the potential profitability of the junk removal business, which has been growing in popularity and respectability in recent years. They explain that anything that is no longer usable or functioning, such as old clothes, cars, and appliances, can be considered junk and can be recycled and resold. The author notes that many people make a living by collecting junk from households and selling it to scrap shops, and those scrap shops then sell the items to larger recycling companies.
The author concludes by emphasizing that the junk removal business is a profitable and environmentally responsible business opportunity for entrepreneurs with the drive and determination to succeed. They highlight that this is an opportunity to not only make a profit but also contribute to the well-being of the environment and the people who are involved in collecting and selling the junk.
Great analysis of my post 👍I appreciate your effort and hard work that you did in reading every word so carefully.
Thank you, friend!
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Penjelasan tentang bisnis yang sangat detail dan informatif. Terimakasih sudah berbagi ide dan menginspirasi.
Salam sukses
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