Plant hire business (mini digger)

[jamielfc]

Hi,
Im seriously considering starting a plant hire business in my local area, with a view to specialising in mini digger hire. Iv done some research and i do feel there is enough opportunity in my area to do fairly well. I am very inexperienced in the field however. I have been thinking of starting with one Kubota mini excavator. Has anybody got any experience in this field or anybody got any advice or ideas for me?

Any help would be really appreciated

 

[Big Pete]

Hi,
Im seriously considering starting a plant hire business in my local area, with a view to specialising in mini digger hire. Iv done some research and i do feel there is enough opportunity in my area to do fairly well. I am very inexperienced in the field however. I have been thinking of starting with one Kubota mini excavator. Has anybody got any experience in this field or anybody got any advice or ideas for me?

Any help would be really appreciated

I have dealt with loads of Plant Hire Companies , the mini diggers are in good demand ..

If done right you can make some serious money,, i would say check your area if no other competition go for it..

Get a good website ,make sure the machines are reliable and you should do well..

 

[benjamin_c]

I don't know anything about this area but i advise you do some research, find out how much hire companies charge for the machines, how much you can buy them for, the insurances you may need, the running and maintanace costs ect, and what advertisment you will use, online? local media? ect
from that you should be able work out if it's a feasable idea and draw up a cash flow forcast and business plan.

Good luck

 

[jamielfc]

thanks very much for the replys. Thats good to hear big pete. There is some competition in my area by the big companies like Hewden etc but i feel there is enough room for me to do fairly well and i do feel i could charge less than them and still make decent money.

Having never done this anything like this im very nervous so all the advice im getting is a really great help. Im defintely going to do this and with a bit of luck i hope i can make a decent living.

 

[Ali-v-8]

Keep your nervousness, it will make you more alert to making mistakes. Over confidence can be a downfall and make you blind to possible errors.
Already you have identified a competitor and recognised the price comparison as an advantage for you. Now all you have to do is figure how you will convince people to use you as oppose to some established business.
Builders are a good bunch of comrades, by that I mean they stick together. You do one a favour and he will do you one back.

thanks very much for the replys. Thats good to hear big pete. There is some competition in my area by the big companies like Hewden etc but i feel there is enough room for me to do fairly well and i do feel i could charge less than them and still make decent money.

Having never done this anything like this im very nervous so all the advice im getting is a really great help. Im defintely going to do this and with a bit of luck i hope i can make a decent living.

 

[Fenland]

If you've done your homework and the opportunity exists then go for it.

My word of caution, on top of those above, is to make sure you have your rental paperwork/contracts, insurances, damages, liabilities absolutely water tight- one mistake with these and it could all come crashing down.

 

[jamielfc]

If you've done your homework and the opportunity exists then go for it.

My word of caution, on top of those above, is to make sure you have your rental paperwork/contracts, insurances, damages, liabilities absolutely water tight- one mistake with these and it could all come crashing down.

Thats one thing im worried about the insurances and liabilities etc. I cant seem to find anything about this subject would this sort of thing be covererd by my business insurance? sorry if this is a stupid question im just new to all this and want to make sure i get it right from the start.

Thank you

 

[Big Pete]

Thats one thing im worried about the insurances and liabilities etc. I cant seem to find anything about this subject would this sort of thing be covererd by my business insurance? sorry if this is a stupid question im just new to all this and want to make sure i get it right from the start.

Thank you

Thats Crucial to have good Insurance .. But you must also ensure the Customers sign on collection or delivery that its there responsibilty etc.

Hire one and see what they get you to sign etc..

Check with a Business Insurance Broker he will steer you right i am sure..

 

Are you hiring with our without operator?

If with, then obviously you will need CITB certificated.

The CPA can provide a lot of information on insurance, conntracts etc.

At risk of statinng the obvious, you will need a trailer & tow vehicle. Do you have capital in place?

 

[jamielfc]

thanks for the replys again.

yes i do have some (limited haha) capital in place ,im 23 and have worked since i was 15 and always saved money wherever possible. The CPA website is very useful and i will definitely be subscribing to them. I'v still got alot of thinking to do and maybe bit more persuading of my missus haha.

While im in the process of buying a digger im starting to think of my website as i feel this is essential for success. Again this is new to me does anybody have any idea what i should be looking at paying for a good website done proffesionally?

Thanks alot again

 

[TheGuru2010]

Hi Jamie,

I can help you out on the insurance side of things, if you drop me some contact details & we can have a chat, There are many various ways to go about the insurance for plant hire.

 

[jamielfc]

Thanks guru i will do that. Does anybody have any advice on sorting a website and how much approx would you look to pay for a good website?

Thanks

 

[Fitness Bug]

Let me know if you have one available, im looking for one, weekend hire, Fri-Sun/mon
regards

 

[derval123]

I don't know anything about this area but i advise you do some research, find out how much hire companies charge for the machines, how much you can buy them for, the insurances you may need, the running and maintenance costs ect, and what advertisement you will use, online? local media? ect
from that you should be able work out if it's a feasible idea and draw up a cash flow forecast and business plan.

Good luck

I agree with Benjamin, whenever we think to start any business we should do extensive research on that, should contact the existing business person running the same business, should research on the target customer, a good name, decide how much budget you have to invest and how much for each different thing you need.

Then make a plan out and see whether you can run that and will that be profitable to you.

All the best.

 

[jplevene]

First thing is to get your name out there. I have a lighting and sound hire business and have to cross hire alot. Found it infuriating with Google bringing up results from Scotland when I am in London, and had people in Manchester calling me to hire when they wanted a local company.

I recommend local advertising and get yourself listed on hirehop.co.uk. We got quite a bit of work from it, and its free. I haven't bothered with the other rental directories as they want money to list.

If you find any more free directories, please list them or send me a message.

Good luck

J

 

[Socio South West]

Certainly a good demand for mini diggers anywhere for inaccessible places, and if you have one of the tiny ones that can get in through doorways, then you are onto a good thing: My nephew worked as a mechanic and did exactly what you are planning about five years ago and has hardly had a day without work since he started.

Good to get CITB trained too, so you can take on more serious site work... BUT... the building industry is notorious for wriggling its way out of paying people, so make sure you get everything in writing if you start doing any amount of work for building contractors.

And, as everyone else says, make sure the insurance is good: How much being under 25 will count against you I don't know, but shop around once you have established what you need.

You mention website.. have one, but don't go overboard on it - 2/3 simple pages should be adequate: You want local work, and for that there is still a place for local press advertising.

 

[businessfunding]

To be fair he's probably sorted it after 2 years

 

[goodguy]

Insurance, pricing and payments is the key, and for you not to take any risks but your insurance company.

It's get stolen when on customer site, who pays and can they pay for a whole new machine.

It's breaks when on customer site, who pays and can they pay for a whole new machine.

Will all these insurances will it make it to expensive to hire from you.

The temptation is to get cheap insurance, and not be covered, or not to price the insurance into the hire costs. One bad hire and you out of business.
Even if you have insurance, it could take a while to sort out.


Good Luck,

 

[Gecko001]

My thought is that mini-diggers are like boys toys and you will get people who think they can operate them but probably are a danger to themselves, others and the machine itself when they get in the driving seat. The big companies obviously through tough experience of accidents and claims for compensation know how to deal with all possible situations and protect themselves.