Salvage and scrap reseller business

Online shoppers, collectors, DIYers and people visiting car boot sales or local markets, plus scrap yards or recyclers that buy your sorted scrap.

You keep the difference between what you paid and your selling price, after fees and costs. Items you can't resell are sold as scrap at the going rate for the material.

• Spotting items that are worth more than they cost
• Sorting materials and knowing scrap from resale stock
• Basic cleaning and repair
• Taking good photos and writing clear listings
• Haggling

• Buying and selling scrap metal generally needs a licence from your local council (for example under the Scrap Metal Dealers Act 2013 in England and Wales); rules differ in Scotland and Northern Ireland, so check with your council before trading
• Scrap metal dealers in England and Wales must not pay for scrap in cash, and must keep records of who they buy from and what they buy, so check the current requirements
• Electrical goods may need safety checks, and some items such as certain children's products have extra rules
• Make sure items are not stolen and keep records of where you bought them
• Storing stock at home may need permission from a landlord or mortgage lender, and storing or transporting waste may have separate rules, so check with your council and the Environment Agency (or your local equivalent)
• Marketplace fees and returns can cut into profit
• Register as self-employed with HMRC once you are trading regularly

Startup costs are typically around £300 to £1,500, depending on the stock you buy, cleaning and repair supplies and how you sell. These are estimates, so set your own budget before buying stock.

Things to check: buying and selling scrap metal generally needs a council licence (for example under the Scrap Metal Dealers Act 2013 in England and Wales), and rules differ in Scotland and Northern Ireland. Also check cash payment and record-keeping requirements with your council.

Monthly revenue is typically around £300 to £1,500, depending on what you find and how well it sells. This is revenue before costs, and marketplace fees and returns can cut into profit.