101 Perfect Small Business Ideas You Can Start in the Philippines

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If you are looking for a promising business that is immune to fads or trends, and is at the same time part of a growing trend to preserve our environment, then you will be how to start trading business in philippines that a junk shop business fits your criteria.

It may not be glamorous, but many people have made millions in this seemingly humble business. In developed countries, a junk shop is an establishment that buys and sells used items. However, since here in the Philippines most items that are sold to junk shops are rarely usable, the bulk of the income comes from scrap trading. For those interested in this business, here are some tips to note: Look for a suitable location.

The type of operation will determine the lot area you will need. If you will just set up a buying station and carry the stock elsewhere, the place will only require around 25 square meters. But in this case, having a delivery vehicle is necessary to transport the materials. If you will start a warehouse operation, an area of at least square meters is necessary. Make sure the site you pick does not flood, is properly zoned, and very accessible to those who will supply your inventory.

Buy the equipment needed. Have at least two kinds of industrial weighing scale: Make sure you buy quality scales and that they are regularly how to start trading business in philippines for accuracy. They are critical to your success because if they register too light, you will lose suppliers who will be shortchanged.

On the other hand, if they register too heavy, you will lose money. Other things you will need are an acetylene torch and gas tank, pulley, metal push carts and tools for extracting and handling materials.

A pickup truck will only be essential at the start if your location is just a buying station. How to start trading business in philippines seek new suppliers.

Do not just rely on sellers going to your place. Most already have client junk shops and are unlikely to shift unless you offer higher prices. One way you can do this inexpensively is by posting your service at free ad sites online.

You can also allocate a budget for advertising on freely distributed local publications or make flyers yourself. Buy only from reliable sources. Do not be tempted to buy materials or items from questionable sources. You may be legally liable for fencing if you happen to purchase an item that was stolen. Claiming ignorance of the source may not be sufficient to escape prosecution. The junk shop and scrap trading business has a bright potential for big profits for the hardworking individual.

However, to improve your chances, you need to learn more about this venture before investing your hard-earned capital. To know more about this business, BusinessCoach, Inc. Click here to view details of the seminar: C-4, Sunday, September how to start trading business in philippines, Written by Ruben Anlacan, Jr. May not be reproduced or copied without express written permission of the copyright holders. How to Start a Junk Shop or Scrap Trading Business If you are looking for a promising business that is immune to fads how to start trading business in philippines trends, and is at the same time part of a growing trend to preserve our environment, then you will be surprised that a junk shop business fits your criteria.

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Scrap Trading is a business where you can make a good profit while helping save the environment at the same time. Recycling saves enormous amounts of energy and resources. You will also be cleaning the environment of junk to be transformed into useful items once again. There are basically two ways you can approach this business. You can put up a buying station only and just carry the scrap directly to recyclers, or have your own warehouse to stock the scrap you buy.

Even people of moderate means can start a scrap trading business. The requirements, while not insignificant, are relatively simple. To assist you in planning, here are some tips to help you know what is needed in this venture: It is possible to start on a shoestring budget with only around P, if the location needs little improvement and rental. This is assuming you have other sources of income for your personal expenses while your business is still starting. Most of the capital should be used for purchasing scrap.

If you have more capital, a delivery vehicle is the most useful purchase. Determine what kind of scrap you will be trading. There are so many things you can collect for recycling. While there are those that deal with a wide variety of scrap, there are many who have been successful by focusing on a single item. Some of the items you can focus on are scrap metal, scrap paper, glass and plastic. Find a suitable location.

A prime location is not essential. If you do not intend to stockpile the scrap, you may get by with around 30 square meters. However, if you plan to store scrap to get better prices, then have at least square meters. Make certain first that there would be no impediments to starting a scrap trading operation in the community. Register your business name with the Department of Trade and Industry as a sole proprietor or at the Securities and Exchange Commission for a partnership or corporation.

Finally, you need to register with the Bureau of Internal Revenue and have your receipts printed. Have good buyers for your scrap.

Get a list of potential scrap buyers and learn which of them gives the best offer. Develop a good working relationship with at least two buyers.

Going with only one buyer leaves you with no option and you have better negotiating leverage if there is another party you can sell to. Know the going, buying, and selling prices. You must always have the latest information on the going, buying, and selling rates of the scrap.

Be careful to monitor the trends to avoid losing on your transactions. Have the proper equipment. The largest expenditure here would be the purchase of delivery vehicle, if you can already afford it, and accurate weighing scales.

Other large expenditures would be equipment to process your scrap. Know how the business is operated. Ultimately, the most important thing is to know how to operate the business well. Learn the right way of running a scrap trading business from those who have actual experience; this will make your operations more efficient and will help to minimize your risks of being defrauded.

To know more about this business, BusinessCoach, Inc. Click here to view details of the seminar: D-4, Sunday, May 26, Written by Ruben Anlacan, Jr. May not be reproduced or copied without express written permission of the copyright holders.

Requirements To Start A Scrap Trading Business Scrap Trading is a business where you can make a good profit while helping save the environment at the same time.