Plant/tool hire/sales business

Discussion in 'First Steps To Starting A Business' started by MC2016, Nov 28, 2016.

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  1. MC2016

    MC2016 UKBF Newcomer Free Member

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    Hey,
    For a while now I have wanted to set up my own business in the plant industry.
    Im 28 and not sure on how to really go about it.

    I have 9 years experience in the industry fixing plant and tool machinery.
    Have knowledge on tool hire as I worked for one for 6nyears.
    Have quite alot of builders, gardeners etc that use me already to repair their machinery so have possible customers lined up.
    Basically I would like to set up repairing machinery full time and hire and sales too.
    I have a good knowledge on what machines are popular, reliable etc too.
    I am thinking it maybe easier to go in partnership with someone else?
    I don't have a place or the finances to have a place to work out of.
    Currently use my garage for repairs but it isnt really suitable.

    Anyone out there whos brain I could pick for advice guidance? Anyone in Leeds area who could meet for a chat about it or even interested in becoming partners?
     
    Posted: Nov 28, 2016 By: MC2016 Member since: May 19, 2016
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  2. profitxchange

    profitxchange UKBF Ace Free Member

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    Hi How much competition is there in plant hire in leeds? Personally I would suggest repair and refurbishment might be a better bet as you have all the plant hire people as potential clients rather than competition. Go talk to them about your ideas and see how sympathetic/interested they might be. If they do it in house they will employ someone at a cost. say 10 local hire co's = 10 repair bods - you might be able to do it all with 2 plus a driver to collect/deliver.
    I would avoid partnership - keep it simple boss and employee(s)
    A decent garden shed could be your workshop - secure of course.
    How far are you from the hire shops - travel will be a significant cost.
    .
     
    Posted: Nov 28, 2016 By: profitxchange Member since: Apr 16, 2005
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  3. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

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    Excellent advise
     
    Posted: Nov 28, 2016 By: Chris Ashdown Member since: Dec 7, 2003
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  4. MC2016

    MC2016 UKBF Newcomer Free Member

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    Thanks for the advice, repair and sales will be alot less of an outlay for me thats for sure.
    There is alot of plant and tool companies in Leeds so competition would be tough, as I am a qualified plant mechanic I do get business easily as there isnt many industry qualified mechanics out there (and im cheaper than the large hire companies)
    It is a good idea about getting in touch with hire shops about repairing their gear for them.
     
    Posted: Nov 28, 2016 By: MC2016 Member since: May 19, 2016
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  5. profitxchange

    profitxchange UKBF Ace Free Member

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    What about agricultural machinery - though ideally you want to have your business workshop based - otherwise you spend a lot of non earning time travelling. Thought about building contractors and their equipment. The key to all of this is having absolutely foolproof records of what you pick up a return plus time sheet and spares records.
    Have you done any costings / business plan?
    I recon your costs could be circa £95kpa for 3 people + van that's means charging around £25/hour excluding NI - insurances etc.
     
    Posted: Nov 29, 2016 By: profitxchange Member since: Apr 16, 2005
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  6. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

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    The Byre did a good info post a few weeks ago on this forum about repairing farm machinery which he thought was a good way to go
     
    Posted: Nov 29, 2016 By: Chris Ashdown Member since: Dec 7, 2003
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  7. Gecko001

    Gecko001 UKBF Enthusiast Free Member

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    General plant hire seems to require a lot of investment right from the start. Have you thought of concentrating on a certain sector? I know a lawnmower repair and sales shop which also hires out various garden tools and pieces of equipment, such as, rotovators, aerators, etc. It appears to be run with very few staff.
     
    Posted: Nov 29, 2016 By: Gecko001 Member since: Apr 21, 2011
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  8. MC2016

    MC2016 UKBF Newcomer Free Member

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    Thanks for the advice guys.
    Yes I am only looking at hiring out specific machinery which I know are in demand.

    My dream is to quit my full time job and have my own business repairing machinery and also selling machines, with the possibility of hiring certain machines out to. When a customer brings me a . machine for repair I think it would be a good idea if I had one in stock to hire them while I am repairing theirs.

    My main issue is my garage is too small to work out of, there isn't enough land on my property to either.
    So...... I would have to rent elsewhere which is a cost. There is some local farms I'm thinking of contacting about using a workshop on their land but it will need to he secure.

    As im working full time it's hard for me to build up a large customer base. I know I can get them though as I am turning people away now as don't have the time.

    My ideal scenario is to find a years salary to pay the bills then I have a year to try make it work!!! But money doesnt grow on trees unfortunately!
     
    Posted: Dec 4, 2016 By: MC2016 Member since: May 19, 2016
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  9. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

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    It will never happen you will waist years thinking next year I will do it

    You have the opportunity to work probably 3 hours every work day in the evenings and 8 hours on Sat and Sunday to prove yourself whilst still getting paid at work, what more do you want

    Small workshop in bad area of town probably about £50 a week all in
     
    Posted: Dec 4, 2016 By: Chris Ashdown Member since: Dec 7, 2003
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  10. MC2016

    MC2016 UKBF Newcomer Free Member

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    Unfortunately I don't have that many spare hours after my full-time job....and the reason I want to do this is because I would love to have my own business, I enjoy repairing machines and im not happy in my full time job.
     
    Posted: Dec 5, 2016 By: MC2016 Member since: May 19, 2016
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  11. MC2016

    MC2016 UKBF Newcomer Free Member

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    What you think about this....I could find a part time job 3 days a week maybe, which will be guaranteed money towards bills and then I have a potential 4 days to build up the business.
     
    Posted: Dec 6, 2016 By: MC2016 Member since: May 19, 2016
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  12. Paulsou

    Paulsou UKBF Regular Free Member

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    Why not concentrate on buying and selling machinery first to assist in buiding up your capital, this can be done in evenings and weekends, you can do any repairs needed to add more value to the item, the only thing i would suggest is make sure you have all the right paperwork in place for the plant you buy, i work for a national independant hire company aswell as running an event hire business in evenings and weekends, there is a lot of stolen items of plant on market. I must deal with several bits of kit reported every week.

    If you have got the urge to do this then good luck, there is a lot of hire companies that are short staff and might appreciate your fitting skills on part time basis allowing you time to build your own business.
     
    Posted: Dec 6, 2016 By: Paulsou Member since: Dec 31, 2012
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  13. MC2016

    MC2016 UKBF Newcomer Free Member

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    Very good advice thanks, It does sound like the best bet will be to do it part time and build it up. Going to look for a part time job a few days a week as this current job is too many hours to do both.
     
    Posted: Dec 6, 2016 By: MC2016 Member since: May 19, 2016
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