Can you make money with your mini excavator? Absolutely! Transforming your excavator into a money-making machine is fairly simple, and we’re going to show you how.
There are lots of ways to start generating income using your excavator, such as demolition jobs, offering it out to rent, performing excavation. as well as helping local businesses with loading/unloading.
This article is based on the premise that you have a mini excavator already, but If you have a bigger one, you can adapt the information for your specific type and get inspiration and ideas.
One way to make money with your machine is through demolition jobs.
Because of the size and strength of a small excavator, it is ideal for work involving small areas. This could include fences, sheds, garages or any other smaller sized structures.
Because individuals can reduce their outlay by hiring an independent person that owns an excavator, it’s a popular option for those that need one time demolition work completed instead of hiring a building or demolition firm.
How can you advertise your services? You can put message ads on directory sites to get your name out there.
Another good option is to post on local websites and online commercial directories advertising your demolition services, use keywords to spike people’s interest and help you rise in their search results.
Many owners charge a fee of approximately $75 an hour for this type of work, but you can often charge more depending on your location. Do some market research to find out what your competitors are charging.
Include some photos of your machine, maybe with you alongside it, some previous tasks you’ve performed with it, or anything else you think may encourage people to use your service.
In your advertisement, speak about your credentials, experience and training in the industry, etc.
Doing these jobs in combination with leasing it out is an excellent way to optimize your excavator’s utility and maximize returns on your investment.
If you manage to work for 5 × 8-hour days per month charging $75 then you’ve made earnings that cover the initial investment in just 12 months.
Leasing your excavator is a simple and cost-effective way to generate income, especially if you own the machine already for other work and it otherwise sits idle beyond your own need for it.
Ideally, you would lease your excavator at around $300 per day or more and aim for 1-200 days a year. That way, your financial investment would be recovered. Is this possible?
You would certainly receive most of your investment back in rental payments, but there are several costs to consider that will certainly be created with leasing out your excavator.
Expenses such as insurance, equipment repair, maintenance as well as costs for cleaning it after each use should be taken into account.
However, you can definitely anticipate making a reasonable amount of money after paying all of your expenses. These expenses could be paid with sweat equity, which is a useful benefit to utilize.
The most effective part about leasing out machinery is that you still own it and can still utilize it when it’s not leased out.
This way you are able to use it as well as benefit from the numerous income sources in combination with others. So, how do you get started?
In the same way, as you advertise for demo jobs, place ads almost everywhere.
Advertise on Facebook, Instagram, local groups, any place you can. Effective listing sites depend upon where you are, so do the appropriate research to ensure you are advertising in the right places.
It is also wise to seek out legal guidance around leasing your machinery to make certain that you are doing so legally and with the correct insurances etc.
Offer Your Services During Snowfall
Winter snow brings all sorts of complications, and shovelling the driveway can be a laborious job. However, with the right equipment (excavator) this problem can be resolved for many people.
You can bill around or above $50 for a driveway, depending on the size. And the job will be done in a fraction of the time it would take if done by hand.
If you’re able to get several people in one neighbourhood that want to use your services, you can swiftly generate substantial revenue.
If you know individuals that would benefit from a solution like this in the winter, then suggest they discuss it with their neighbours, and offer them a reduced group rate.
It’ll be a great solution for the neighbourhood as they get a discounted service, and you get to work in one neighbourhood, cutting travel down time, and increasing profit.
It’s useful to remember that in some areas the weather can put stress on some equipment, so be prepared for this and ensure your excavator is in good working order.
You should also double-check before starting that your particular model is suitable and can deal with bad weather.
Loading And Unloading
Another option is to offer businesses your help and services in packing and/or unloading.
For many reasons, there are businesses (and people) that could need some extra help moving heavy materials such as sand, gravel, bricks and or a wide array of various other products.
As with the other jobs, you can easily charge up to $75 for this service. It’s wise to tell people you require a minimum hour job to make it worth it, and add on extra costs such as delivery fees and travel etc.
You’ll need to identify the standard in your area and develop your guidelines accordingly. In order to land deals with regional businesses, you could take advantage of networking events to introduce yourself and get them familiar with your services.
When was the last time you used your excavator? If you can’t remember, and you aren’t having success renting it out, then you could consider selling it, especially if times are hard.
Why is this a good idea? Once you no longer own it, you won’t have to pay the expenses to keep it running or the instances and repairs. You will also have money in your pocket from the sale.
You will also benefit from the sale immediately. Getting a lump sum of money is ideal if you have an unexpected bill to pay or fancy a nice holiday away from everyday life.
It’s a tough decision deciding whether to use your excavator as a stream of income and all the complications that go with it or to sell it and pocket a lump sum. Only you can decide that.