Making extra money is not at all a bad idea considering the level of economic hardship currently being faced in the country. Also, imagine being able to do so with items you have considered disposable.
Junks.ng has launched to afford users the opportunity to exchange their thrash for pay. The Nigerian startup was founded in August, 2017 by Bradley Yarrow who is also the CEO.
Junks.ng deals with varieties of junks including, plastics, metals, aluminum, clothes, shoes and electronics. After buying these scraps from individuals, the startup sells them to wholesalers and recycling companies. Based in Port Harcourt, Junks.ng operates an open market — which is less competitive — and a low-risk model.
Speaking on the platform in an interview with Innovation Village, Bradley said, “I was thrilled by the rate at which the scavengers were rapidly increasing so I researched on the scrap business and realized how profitable it was, so I devised a model that out performs that of the scavengers.”
Speaking on traction, Bradley also said, “I started with a capital of 0 Naira, i didn’t even have money when I started but I can boldly say I’ve made profit without loss.”
The startup also has a charitable side to it as it gives out old clothes, shoes, bags to orphanages and those who are in need of them.
Speaking on what makes the platform unique the founder said, “Unlike the scavengers, we have foresight meaning we have the capability of knowing where our scraps and junks are coming from and going. It is basically an online scrap yard.”
However, it has not been an easy sail for the startup.
“People tend to want to sell things that are not condemned to us but we are only interested in scraps and unused items and it has not been easy accessing proper storage and transportation facilities for the scraps,” the CEO said.
While advising young entrepreneurs he said that there is no idea under the sun that is new. Young entrepreneurs do not need perfect ideas but a better model for an old idea
Revealing plans for the future, Junks.ng plans to put useful scraps to good use and also use them for refurbishment/recycling, partnering Wigxel and Barter.ng both which are upcoming businesses.