The scrap metal industry promises to be a very lucrative industry with the opening of markets in Asia. Depending on the prices of scrap metal in the market, export can provide returns for your investment. Scrap metal export companies are usually small companies that often hire a handful of employees. It is possible to run the company solely if you are able to get a good scrap metal supplier, a foreign buyer and a person to handle the buyer.
- Skill level:
Find out the requirements for running an export business in your state from local government authorities or Business.gov (see Resources). There, you can fulfil all requirements and inquire about registration for your business.
Decide on the approach of exporting your company will take. The most common approach assumed by small firms is exporting indirectly through intermediaries. This involves using an intermediary to handle the exportation of the scrap metal.
Get a reliable scrap metal supplier. Search the Internet for reliable suppliers. Read about the services they offer and compare their rates. Read client reviews of companies that you are interested in to ensure that they are reliable. Lists of scrap metal providers, such as RecycleInMe, are available online (see Resources).
Carry out an Internet search for export handlers within your area. Several websites offer listings of export management companies. Read about the services they offer and compare their prices. Ask for quotations and references. Visit scrap metal trading websites such as Kelly Search to get information, reviews and contact details of scrap metal traders (see Resources).
Hire the company that meets your requirements. You may pay them on commission or by salary. These companies are responsible for making contact with foreign buyers. They set up shipments and handle the scrap metal at customs on both ends.
Check current scrap metal prices and decide on your selling price. Ensure that prices are enticing enough to attract foreign buyers. Check the scrap metal price listings on commercial websites online such as RecycleInMe. These listings are updated daily, so ensure you keep up to date with price changes.
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