Hi everyone, I am looking to start my own small business renting out excavators. I have been looking into purchasing 1 mini and 1 midsized machine. I was wondering if anyone could give me advice on what to look out for/what is the best bang for my buck/what to stay away from. Any advice for a newbie would be greatly appreciated!
Idiot proof. You want something that greases itself, can't lift enough to tip over. Charge a daily rate that'll pay for a new one each 6 months. My longest term friendship is with a city boy who has a place in VT. He loves to run equipment, or, he loves to break equipment. After a few rounds of loaning mine, and me being angry at the negligent destruction, we figured out our friendship will last if he rents. A couple years ago he called on a rainy night. He broke the shiny thing on the front of an 8 ton excavator. I went up in the rain. Sure enough the bucket cylinder rod was bent, and snapped. Having never seen this sort of thing before, I wondered how one might do this. I also wondered about the triangle painted in black on the dipper stick. The triangle proved to be a break. I was seeing through it! Next morning he called again. He was proud, he had chained it up to avoid further damage. How you gonna damage it further? He was using it as a bulldozer, pushing earth! Later he called: "Where can I get hydraulic hoses made?" He had pushed too big a pile of rocks, a boulder fell behind the blade, and broke off a hose. Another time he rented a CTL. Early on he ripped open the bucket playing demolition derby with boulders buried almost completely under his lawn. He discovered the fork attachment with one fork removed worked better than the bucket to root out boulders. His younger brother, a single business owner bought himself a fully tricked out dress pickup just for special occasions. Within the week big brother needed to borrow it. Later in the day he discovers muddy child's sneaker prints on the headliner. The truck's owner was furious! Big brother didn't understand, "It's a truck isn't it?" These will be your customers. Willie
If you go through with your idea I suggest you get to know your insurance agent, lawyer and the sheriff very well.
No offense but I'd rethink this plan . I'd look elsewhere for a way to loose money and your sanity.
Opened my own rental business in 2010. Join the ARA (American Rental Association). Get ARA insurance. Liability is huge in this business due to not only damage to equipment but people hurting themselves. What do you do currently? What's your background? Can you fix them if broken? What's your budget ? Are you in market that has no rental yard ? Do you have contacts with potential renters ? Buy a well known brand Bobcat, Deere, Takeuchi, Kubota, Cat with good dealer support. The easiest way to make a small fortune in the business is to start with a big one. PM me if u like.