Our current generation experiences constant reminder of the important of recycling and reusing of used materials and equipment. Due to the widespread global warming awareness campaigns, everyone sees their role in securing the future by recycling. Recycling is a very environment friendly practice and is considered as one of the best way to help the community on our own ways. Junk, or scrap can be recycled by knowing the material component that can still be recovered and used to produce an output material or product. Junk like cans are made of metal. Metal is a precious resource and has appeal in terms of recycling materials from previously created scrap made from metal. Metal does not decompose, but can present an environment effect as a garbage that has impact one way or another to the ecosystem. By being a junk shop owner, the opportunity to bring profit from scrap is maximised by bringing the community nearer to scrap dealers. For this feasibility study, we will review the importance of junk shop and the associated profitability to the business owner.
By being a property owner of a land, you can maximise your potential to earn compared to renting. The land you own can be just few hundred square meters, but can be vast enough to house a junk shop. A junk shop business requires a land area where various scraps can be stored securely before selling to scrap dealer. The plastics need to be segregated from the metals. The paper and carton stocks should be kept dry under a shading. Rain can damage these items, and proper facility is needed to be in place for this feasibility study of junk shop.
By being able to secure the location by setting up new or existing perimeter fence, you can then start the business. Secure the proper government mandated requirements before opening the business like business permit, mayor’s permit, barangay permit, etc. The area of the junk shop must be near access road to have an effective delivery of your scrap. The storage of the scrap once managed and segregated can result to better weighing and management as the stocks pile up before selling. The most expensive junk items are copper and silver. Hence, these precious metals need to be stored properly to avoid theft of the bought items.
The scrap items comes as individually sold scrap items that are sold by a neighbour. It can also be a local scrap collector that wander on every house to collect scrap like bottles (bote) or newspaper (dyaryo). These dealers buy scraps from house to house call and gets a share by selling the items to the junk shop. The steady supply of scrap requires a steady flow of capital. The capital is used to accumulate the scraps and bought at a level that gives profit to the owner as the owner stores the scraps. By starting the business, one should be aware of the needed capital for buying continuously of scraps. The business is about that. Without a continuous flow of scraps to the junk shop, it will be difficult to reach the goal weight of scraps. Scraps are sold wholesale to get a competitive price from bulk scrap buyers.
Knowledge of pricing is also important. The staff should be able to get the price of the item to avoid buying overpriced or incorrectly priced item. There are times the price fluctuates for a certain item, but having an idea of the price in the market of scraps will be essential in this business. Finally, the right bulk buyer will be able to provide a profitable scrap business. Getting some assessment on your profit by accounting all expenses versus income will guide in the process of junk shop business based on our feasibility study.
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