Eventually, we developed a friendship and started working together. At some point we decided, we can only prepare so much, we just have to quit our jobs and jump into this. So we did and the rest is history.
BI: What has changed in the industry over the last five years?
JDB: It’s gotten very competitive and very intense.
The margins have shrunk. So now you’re more like a banker. You’re just moving a lot of money for small margins and it’s hard to grow.
BI: How has that changed your business?
JDB: We were keeping a fairly low profile because we weren’t able to expand as quickly as we wanted to. We were limited by our financial ability because millions of dollars were tied up in material alone.
I knew if we really wanted to grow, we would have to bring on a strong partner, somebody with deep pockets.
I’ve had a long relationship with DOWA who’s big in this industry. So I approached them about being vertically integrated and we partnered together in January of 2017 to form Key Metal Refining LLC.
Bringing on DOWA, helps us to be unlimited in our growth and our capabilities.
BI: What are the most important lessons you have learned throughout your business career?
JDB: There are a lot of them, but there are two that stick out.
First, I would say, don’t trust anybody blindly, and try to learn as much as you can. Do your due diligence about who you work with.
It’s important to work with people who are trustworthy, whether they’re suppliers who you’re buying from or business partners.
The thing I like about partnering with DOWA is that they’re honorable people – which is rare in this industry.
The second thing is that it’s best to be vertically integrated. You don’t need a better mouse trap you just need more mice.
For more information about Key Metal Refining LLC, visit KeyMetalRefining.com.
Key Metal Refining LLC is located at:
5400 Delaware Ave, Hainesport, NJ 08036
For more information about John D. Bruno visit JohnDBruno.com.
