19 year old needs guidance on new business venture

[kmackck]

I am a 19 year old. I have recently been hit with the idea of a junk removal business. I always have been into opening my own business. The other day this idea just hit me. The idea has not left me yet. The business needs little investment $$ A truck, advertising etc. I have search the city there is competition mainly 1800gotjunk but they are expensive and my city is cheap, other competition are all through the city but there is NOTHING in my part of the city. Huge population in my area with 50 tousand new houses beinh built soon five minutes away. Does anybody have any honest pointers? I need to get this idea turned into something real but I need guidance anything would be greatly appreciated. Thanks

[businessman413]

As far as advertising goes... Just go ask around, and passing out flyers and such. For example, go talk to some construction companies about it, and see if they need your service.

That's my little piece of advice.

[Warranties-For-Less]

I am a 19 year old. I have recently been hit with the idea of a junk removal business. I always have been into opening my own business. The other day this idea just hit me. The idea has not left me yet. The business needs little investment $$ A truck, advertising etc. I have search the city there is competition mainly 1800gotjunk but they are expensive and my city is cheap, other competition are all through the city but there is NOTHING in my part of the city. Huge population in my area with 50 tousand new houses beinh built soon five minutes away. Does anybody have any honest pointers? I need to get this idea turned into something real but I need guidance anything would be greatly appreciated. Thanks

First thing you have to do is check what disposal costs will be so you can set your rates. You mention the competition as being expensive, but this is usually because of disposal rates at landfills and restrictions on what you can dump, so don't do anything until you get your expenses identified.

Start small, you don't want to lose money, so purchasing a truck is essential, but get a panel truck to start so you can have large advertising on side, make it unique, like putting graphic of all scrap and rubbish covering van to catch attention. A picture is worth a thousand words and computer graphics is pretty cheap now and it will cover up a shabby van nicely so you don't have to paint it. You can always pick up trailer for larger items like refrigerators later, similar to landscape trailers, also pretty cheap. I know I would hire you in my area for we have nothing for appliance pick ups or large items in my area.

Good luck,

[zukny]

yea, Colleges / Panera bread / Book stores places like that all have "Bulletin areas you can post something. I reccomend getting photoshop and making an 8x11 marketing sheet. If you are doing something similar to a specific store its even better.

I for instance: Doing a website pertaining "Fiction and Non-fiction" writing. I am going to goto some "used book stores" and some "family owned ones" and ask for their permission to place my 8x11 sheet somewhere on their sales desk.

THats almost garunteed to get people talking. I havne't done it yet, but i will in the next few weeks.

[kmackck]

I just checked. For vehicles over 1/2 a ton its $43.50 per Tonne.

[bizdev]

I just checked. For vehicles over 1/2 a ton its $43.50 per Tonne.

Well there you go then. You have your first financials number. You can work up an informal business plan for yourself so you know if your idea is viable. With that one number you can generate your assumptions and cash flow statement. You can also create a quick income statement. Figure out your start up costs and a marketing plan and you'll know if this is doable.

[richebar10]

I am a 19 year old. I have recently been hit with the idea of a junk removal business. I always have been into opening my own business. The other day this idea just hit me. The idea has not left me yet. The business needs little investment $$ A truck, advertising etc. I have search the city there is competition mainly 1800gotjunk but they are expensive and my city is cheap, other competition are all through the city but there is NOTHING in my part of the city. Huge population in my area with 50 tousand new houses beinh built soon five minutes away. Does anybody have any honest pointers? I need to get this idea turned into something real but I need guidance anything would be greatly appreciated. Thanks

a good way to get known is since foreclosure is up its lots of people who leave stuff behind email banks about your company because here in boston there sub contracted that type of business, second instead of buying a truck hire a few people who already has a truck and offer them more money, third (foot work networking) the old school way pass out flyers, when you see foreclosed properties place a flyer on the door, you gotta get to the core of your customers, offer 24/7 service, match your competitors price

[noob]

Got Junk isn't really all that expensive. I've used them probably 8 times in the past 3 months alone. While I agree you can be competitive still on pricing since it doesn't cost much, its going to be tough to fight against them but not impossible.

[Gaulkin]

You will have a huge problem covering costs in this economy, clients are very hard to come by in this business.

[DerekS]

Get a beater longbed pickup for starters. Nothing fancy, not even 4wd, just a solid V8 and some good tires. Craigslist advertising is probably all you need for starters. I'm in real estate and we're always looking for some good, cheap junk haulers. You might even be able to dispose of household junk for free, if your local recycling yard is anything like we have in MD. Just make sure you don't paint a logo on the side of the vehicle, as you'd then be considered a "commercial" vehicle. Certain metals and other materials can be sold for relatively small amounts, though low commodity prices may make hauling this stuff to a separate location not economically feasible. In any event, if you have to pay to dump the stuff, factor in fuel/insurance/etc costs and make sure your profit margins are enough to make money in the long run.

[Ruman]

Do it for banks, that's what I do. I do about 3 houses a week for them, along with some remodels.

I have a '99 Chevy 2500 w/ a 6'x12' and 6'x16' trailers. I have one crew of 2-3 people that does them for me, i primarily focus on the bidding and business side of things.

$20-$30/CY of debris. A Cubic Yard is about the side of a washer or dryer.

[patcivitella@aol.com]

Hi, my name is Pat Civitella my cell is 203-650-1389 or email me I have something that I know would be right up your ally I can help - we are looking to expand and compete with 1800-got-junk. We are currently in Conn. with
1-800-Mr.-Junker. and we have the capbilities of licensing to other area check out our website
1800mrjunker.com
Thanks
Pat Civitella
office
Civitella & Associates
203-736-2484

[Millenniumauto1]

I have friends in the business, though the 5k housing being built sounds great, a more sound and concrete way to hold over until business spills in is to get in with HUD, like previously mention these clean ups on fore closures are paying great. Be prepared to float money because payment can be a little delayed and pushy. Best advice I can give you, open air truck, and if you dont want a huge initial investment look for cheap trailer on craigslist.org and get some signs printed up for the side of a regular long bed truck. start small dont get in over your head.

[cd1000]

good idea bro. listen to the advice here and you'll be up and running in no time.

[kmackck]

You will have a huge problem covering costs in this economy, clients are very hard to come by in this business.

I live in Canada. Were not where near the state of the US so clientele is out there.