Finding a way to produce some extra income to supplement money earned from a regular job has become so popular in today's society that it has its own slang terminology. Whether you prefer to call this type of work a side gig or a side hustle, the extra cash that can be earned from this type of part-time work can add some needed financial security in today's uncertain economy.
Side gigs vary widely in type and are bound only by the imagination and work ethic of their creator. Recycling copper or other metals is one side gig option with a readily available source of materials that can be easily harvested and sold without investing a lot of cash. If you are interested in learning more about copper recycling as a possible side gig, here are some tips to help you enjoy a more profitable experience.
Look for free appliances and electronics
One of the best ways to make more profit when recycling copper or other metals is to find free or cheap appliances and electronics from which you can salvage copper. Washers, dryers, and small appliances that no longer work are often advertised for free on social media and online classified sites.
If possible, look for these appliances within a few miles of your existing location so that collecting them will be convenient and require only a little of your gas and time. In addition to checking online sites, you may also want to run an ad offering free pickup of non-working appliances and electronics in your area to begin creating name recognition that can be helpful in growing your side gig into a full-fledged small business.
Monitor scrap metal prices
Once you have begun to collect enough old appliances and electronics to begin harvesting copper and other scrap metals, you should begin to closely monitor scrap metal prices in your area. Tracking this information will help you learn to look for patterns and potential market influences that often cause scrap metal prices to rise or fall.
When the market prices are low, it will be more profitable for you to continue salvaging efforts, then sort and store the copper in a safe location, such as your garage or shed. This will ensure that you have a good supply of copper ready to sell for profit when the market price rises.
To learn more about copper recycling and other scrap metals, take time to discuss your efforts with one or more reputable scrap buyers in your local area.