Starting your own junk removal company seems to be a pie-in-the-sky idea for the vast majority of the population. The idea of putting your hands on other people’s rubbish is frankly disgusting in their eyes. Although the economy is going backwards at an alarming rate, this is still a nation that rewards hard work and ingenuity. Junk removal may not be your favorite topic but owning a rubbish removal company is extremely opportunistic and may net you a surprisingly high income. Think about it, few people enjoy being around garbage so this is your chance to take advantage of other people’s wasteful behavior.
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Profits
There is a surprising amount of money to be made from a junk removal company. You could make in excess of $400 a day after deductions are made for various fees paid for disposal as well as money spent on maintenance and fuel for the truck(s). Essentially, your work ethic will decide how much money you make. The more houses you visit, the more customers you get which potentially equals large revenue.
Competition And Demand
Before beginning your junk removal company, it’s important to do some research. Find out more about the existing garbage removal services in your area. There will obviously be a state/locally run business in existence but do they cover all areas? Also, are customers happy with the service they are receiving? Check out the competition before committing yourself to the project. It is also an excellent idea to find out about foreclosures in your area as these are a goldmine when it comes to junk removal.
Tax
As you will be starting a business, there are a number of legal and tax issues that need to be solved. First of all, you have to find out more about your state’s rules and regulations pertaining to junk removal. You will also need a tax identification number which is given to you by the IRS. The status of your company (sole ownership, partnership etc.) also needs to be ascertained for tax purposes. You will be in charge of your own taxes so hiring an accountant may well be a necessity.
Insurance