Welcome to “A Scrap Life,” a podcast solely focused on the hustlers, grinders, operators, and business owners who live and breathe the scrap metal industry every day. Here’s your host, Brett Eart.
Brett:
Alright, another episode of “A Scrap Life.” Today, I’m sitting here with a guy I always talk about when discussing the power of social media. It’s great for helping others and gaining knowledge. About two years ago, Phil Madison from Modern Recycling hit me up on LinkedIn. He was up in Montana, putting in a yard, and was passing through my area. We decided to meet, and after shooting the breeze, we hit it off and stayed in touch over the years. I figured, since he’s putting a new yard in, let’s get him on the podcast to talk about it.
Phil, thanks for coming out today. I appreciate it.
Phil:
Thanks for having me, Brett. Glad to be here.
Brett:
So, give us a little background on Modern Recycling and how you got started.
Phil:
We started Modern Recycling in 2014, but the idea came about in 2011. We began small, with a 40ft truck scale, two forklifts, and not much else. We rented space, got our permits, and opened the doors. Over time, we expanded, especially in Missoula. We kept our original yard in Victor, which does well, but we knew we needed to grow. So, we bought property, did significant dirt work, built a steel building, and opened our new yard in April of this year.
Brett:
You didn’t grow up in the scrap business, right? What made you want to get into it?
Phil:
Correct, I didn’t. My partner, Justin, and I had started a different business in college, but we wanted something new. Justin worked in the scrap industry for 20 years, starting a yard for a competitor. He called me one day, saying we should open our own yard. I was game, so we began planning. At the time, I was working in oil and gas, but the opportunity to start something of our own was too good to pass up.
Brett:
That’s fascinating. So, you guys started small and then decided to go big in Missoula. What was that like?
Phil:
It was a leap of faith, but we believed in ourselves. We acquired the property and, after some hard work, we were ready to open. Now, we’re grinding every day to keep the operation going.
Brett:
It sounds like you and Justin are very different, and that’s important in partnerships. How do your roles differ?
Phil:
Justin handles more of the accounting and backend work, while I focus on operations. But in a small business, you do whatever needs to be done. We both bring different strengths to the table, and that’s what helps us succeed.
Brett:
When you were working for Haliburton, what did you take away from that experience that helps you in your business today?
Phil:
A lot, actually. From managing inventory to dealing with people, those skills have been invaluable. At Haliburton, I learned the importance of planning ahead and understanding the cyclical nature of business. It’s the same with scrap—you have to be prepared for downturns and seize opportunities when the market shifts.
Brett:
Speaking of market shifts, how do you guys handle the transportation side of your business?
Phil:
We have our own trucks, but we also broker a lot of our transportation through truckstop.com. It helps when we need to move large volumes quickly, especially after big events like bailing up 500 tons. We’ve gotten pretty good at it over the years.
Brett:
What about expanding? What’s next for Modern Recycling?
Phil:
We’re definitely looking to expand, but we want to stay disciplined. There are a few more yards we could open in Montana. We’re focused on growing our Missoula yard first, but we’ve got big plans for the future.
Brett:
That’s awesome. Thank you for taking the time today, Phil. I really appreciate it, and I’m sure there will be opportunities for us to work together in the future.
Phil:
Thank you, Brett. I appreciate the opportunity to be on the podcast. Keep up the great work with what you’re doing.
Brett:
Thanks, Phil. Take care!