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How to open a crane rental business ( insurance cost and safety regulations )

srenna ยท 2016-03-18 22:36

Hi guys , I am a Crane Op. I am trying to buy a crane and start my own business but I have no idea how much an insurance can cost, do you? at least an average? Also how much can I rent a month an RT 75-90 ton ?

Replies5
  1. #1ichudov2016-03-19 09:50

    Do you have a truck to move your RT around? How do you want to handle that?

  2. #2srenna2016-03-19 14:15

    Yes I also need a truck to move it....but right now first thing I want to figure out is how expensive an insurance could be.... I would like to start my own business but don't know where to start

  3. #3mn40ton2016-03-28 01:20

    Insurance will be around 6%-12% of your total annual sales if you can find someone to insure you. Do you have customers lined up to rent a RT for a month at a time? Around where I live a lot of RT's are bare rentals (no operator included). I recently started my own crane service with a Grove TMS500E which is a 40 Ton Truck Crane and I charge hourly port to port from where I park. You first need a piece of equipment, no one will give you a loan for a start up business and if you are buying something older plan on putting some good money into it right away. You need to get it inspected and I would imagine you will need rigging and plan on spending money to advertise if you don't already have customers.

  4. #4srenna2016-03-28 18:42

    Thank you very much for your information. Can I have your contact, to stay in touch. Stefano 2019273539. [email protected] . Thanks

  5. #5joe14322016-03-31 05:03

    i worked for a crane rental business. And its with great difficulty, but when you get through all the paper work it ok. You need to register yourself as a business first, so all your tax details are all legitimate. If you have the licence for you own crane though it all good to go. Its really important to have high safety policies, heres a good guide to crane safety . as customers check this and your records, licences. get a website going, good way to get seen by people in your area. when things get going. try investing in more equipment, because you will start to find you can't do everything you want with one piece of equipment. Better to work to the projects needs, than you equipment limitations. Especially when safety is concerned.