Have you ever needed the use of some heavy machinery, for your home, or for your business? Perhaps you needed a concrete mixer for your driveway, or some crushing equipment for a landscaping project. These are expensive items, even the daily rates seem quite steep; don’t even look at the sale prices! In this day and age, we are modernizing our homes, our gardens at an alarming rate; why not take advantage of this supply and demand situation? Perhaps you are bored of your current job, or maybe you have some cash for a paying hobby venture? Here follows a compact guide to taking those first steps.
Let’s take a look at what machinery falls into this category. On the smaller scale we have; concrete mixers, pneumatic drills, waste disposal machines, large lawn mowers. On the large side there are; Bulldozers, Loaders, Excavators, Cranes and Tractors.
Essentially this business will involve two parties; the company that hires out the equipment, and the people/businesses that require the use of these machines.
Why Do They Rent?
In most cases, these machines are only used once, and for a short period of time, the cost to buy a heavy machine would be high and unreasonable expenses considering its use requirements. As a result, the hire business caters for their needs, and still charges a hefty rate for the daily hire. This is a good business to get involved in!
How To Get Customers
You will need to launch an efficient advertising campaign, use all of the available mediums; Internet, signs, word of mouth. Try advertising your business with appropriate signage on your own vehicle.
Know Your Business
Do some research into the technical and business side of the Heavy equipment hiring process. You should speak to potential customers about the most desirable models and types of equipment usually in demand.
A One Man Show?
It’s often an exhausting decision, running a business solo, you should consider at least taking on a partner. Draw up a skill set requirement, especially of the skills you do not yet possess. Accounting experience, Sales technique, technical knowledge; these are just a few of the daily pitfalls out there.
These machines are big, often very big; as such you will need considerable storage and display space available. That will rule out a town centre location, shop around for available plots in existing retail parks. You may find a cheap option, twenty kilometers from town, but will anybody be able to find your place, let alone be bothered to make the trek?
Before taking the plunge into the unknown, why not do some paid research? Look around for available jobs in the heavy machinery hire business. You don’t need to dedicate ten years to the cause, even a six month stint as a trainee worker is far better than going in blind.
Give It Some Thought
A large percentage of new business ventures are doomed to failure, usually because the investor/designer does not think the whole event through properly. Follow the above steps, and give yourself plenty of breathing space before making the commitment.