Top Priced Cash For Trucks
I spent a 10 hour day parting it out, marking the parts, photographing the parts, and putting up the parts on eBay. I spent another 4 hours shipping the parts. I spent two hours related to this bike, and in doing portioned tasks that related to the business. So, the total time spent was 16 hours. $1200 divided by 16 hours is about $75 an hour.
The repossessed vehicle, whether a junk car or a brand new model, is taken away from owners because of unpaid dues. So, the first order of reclaiming repossessed junk cars, or any vehicle for that matter, is to talk to the creditor, and fast. Act slow and it would mean money for scrap cars, in the creditor's case.
You will need to have the title in your name and it needs to be clear. Being clear means that there are no lien holders on the title who would have a claim to that vehicle. For some salvage yards, you will need to remove the fluids including gas and oil. If the vehicle is drivable, many times you can find a yard that will allow you to drive it in rather than disassembling it first.
David and his father were looking for a business to buy. They were interested in a 1991 oldsmobile cutlass that I was selling. I asked their buying agent to bring them over so I could interview them and to explain this business to them. In 3 minutes it was clear that they should not even consider this business. We spent the balance of the meeting talking about the businesses they had looked at and the pros and cons of each. I gave them my honest suggestions about each from their description. They thanked me and left.
The processing of recyclable metals is often a complicated task. It involves lots of risks as well. Anyway, the basics of scrap metal processing is to take the discarded metals to a wrecking yard to be processed for melting into new products.
Other criteria include; is it something you can handle? What kind of work are you willing to do? If you like sales and do not like running a factory, buy a distribution company, or sales organizations, and do not buy a manufacturing firm, unless you have a partner that likes running a production line.
Two months again passed and David called and said, "I need to see you today." He proceeded to tell me about a Car Wash Soap manufacturing company that was suppose to be making $500,000 profit per year. The asking price was $2 Million. David wanted several things from me. He wanted my opinion of the business, he wanted me to help get the price down to a more reasonable amount and he wanted me to verify the income. It took me 30 hours of reviewing the books and talking to the seller to determine that the business was making only $350,000 per year including what was not on the books. The books were made complicated, intentionally so that no one could understand what was going on.