Hi folks! I read a lot of threads here and @ demolitionforums.com about people who doesn't know if they shoul buy a wheel loader or excavator and what can they do with them?(example). how many of you had backgroud and expirience as backup before buying the first machine? did you have a clear buisness plan (first i buy a excavator and make money-> hire a guy so i can buy a truck and so oon...). seems to me that many are buying a "cool looking" machine to make money with, without any knowledge of machinery at all??? that sounds really crazy to me!!! Its like i would open a thread on "heavy computer nerd . com" and ask if i should buy windows or mac, now i will start making my own programs the only difference is the Sh**loads of money invested, and the mess and danger you can make with heavy equipment... just my 2 euro
The guys around here buy/sell or idle equipment as the demand for jobs or materials increase and bid jobs before the last one finishes up. None of them are out of business and probably won't be for many years. :idea I always figured I'd start out by buying a truck and hauling stuff around for the locals and once it was paid off get a trailer and a nice Volvo excavator. And then go on from there. So folks, get a plan, make it practical, make it earn some money, and grab life by the horns. :guns And aren't all the machines cool looking? :cool2
I agree on that one! especially trackloaders and UHD excavators my wife thinks that my mental age is about 10... i have seen really skilled buisness men buying motorcycle shops, because the old owner made a good profit. they ended up driving the buisness down, because they didn't know what they where selling ointhead
Yep, I've gotten that one too by making mom or dad drive me around to the different sites to look at equipment. Although ma was impressed with the tires on the 631C's. On the motorcycle shop comment: They might be good in the financial game, but they should really look into what they are buying, go check out the facilities, get some owner testimonials, and instead of driving it out of business, expand it. Or stay in the business that they know the best. That's how my family business is staying afloat, by sticking with what we know how to do (land development, apartment management, homebuilding). :usa But later in life, I'll be trying my hand in excavating and such. :drinkup
It never ceases to amaze me the number of people that go blindly into business with no other thought than it will be cool. Folk that bought holiday villas to rent out in the Swiss Alps cause they loved the sking. No hotel management experience, :beatsme Folk that buy restaurants in Spain because they love the culture. Cant cook :beatsme In twenty years I looked at getting my own machine 3 times, but could never make the figures outway the risk. Finally I found a niche in the market, and took the plunge. For me I think it is as much about "contacts" as anything else. That is not to say I think it is right, just the way it seems to be. You can be the best ( enter any occupation) in the country, if you haven't got the contacts to the work supply you are stuffed. :IMO
My grandpa always tells me to look for the new frontier. His was test drilling when the Interstate Highway system was built and engineering/developing subdivisions. I have yet to find my frontier but our highways may be getting a major overhaul over the next several decades. Or relocating infrastructure farther inland if the tree-huggers' predictions of rising sea levels is true. And get as many business/government contacts as possible. Even if they aren't nice people because then you can at least say you know them.
I had experience before I bought a machine. I bought the machine that I enjoyed operating the most. Bought an older machine that was about 1 1/2 times the price of a new pickup which I considered an ok risk, and had gotten use to driving pickups that were older than some of my x girlfriends. Business plan A was to make a living and enjoy it. Business plan B was to go back to work and pay off my dept if plan A didn't work out.
Business Plans Creating a Business Plan for any startup venture is an ABSOLUTE NECESSITY! The lack of one would be equivilent to departing Bangor, Maine and traveling to San Diego, CA., without a roadmap! You'll eventually get there, but how many errors will you make in doing so. A Business Plan (your roadmap) provides you with a general idea of how to reach your destination, but your certain to encounter detours that will require you to make adjustments. Without a Business Plan, you're destine for FAILURE! The Small Business Administration website is an excellent resource for gaining a thorough understanding of what makes up a Legitimate Business Plan. So many startup businesses fail because the founders did not have a good idea of what it would take to succeed, tragic but true. I started up a company 18 months ago that is involved in the sale of heavy equipment replacement parts, so I spend alot of time on the road. I see so many companies around that have closed their doors and I think about the personal dreams that have been crushed. Perhaps these businesses were victims of bad timing, market conditions or whatever, but I continue to wonder whether they ever had developed a BUSINESS PLAN, prior to starting up. I am 51 years old and left an $80K / Yr job because I got fed up with all the BS and office politics. I was fortunate enough to know [from my years of exposure in business] how to create a Business Plan. I knew exactly what I was getting myself into. Now, 18 months into it, I am still fighting, making adjustments to the market conditions, and waking up each morning with a continued will to succeed. God Willing, I'll make it. For all you Young Guns out there thinking about starting up your own deal: (the HEF Poll indicates a high percentage of Young Guns in our group) - Develop the Roadmap - Rely on no one but yourself - Layoff the New Iron (Big Debt, Big Overhead & lots of Bank Sharks) - Work Hard - Never Give In - Have Faith in God - He's a Great Guide to Success
Go with stretch's idea. makes sense to me. After all, peoples needs to have things moved around is increasing. Don't however go for a big nachine unless you have a truck to haul it. Paying some one else to do that for can get quite irritating, as you can't always have a truck. Its not just you that has to hire for a living, and you aren't the only one with needs. So ya, go with whats easiest and best to pull off.
I've never had a buisness plan, but should perhaps. After 10 years on my own I've figured out the basics of running a business, and there is a lot to it. For anyone thinking of jumping in, look it over carefully. I think a business plan is a good reality check for those who don't have any idea what they are getting into. For me, I eased into it, starting with a pick-up and a trailer and working up to an excavator and a pile of small equipment. On the down side, I used to have weekends and evenings off, now I work 7 days a week.:Banghead Sometimes working for someone else has it's bennies.