Monthly Archives: October 2016

Best way to find heavy equipment

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

People who are new to the construction industry and want to make a career in this sector will have to understand how the business works and what are the key components that are needed to give it a start. Once they have done their share of research they also need to check what heavy equipment they require for their project. It will be absolutely futile to go and purchase any heavy equipment and then sit and decide if that is really what you needed. Ideally, all the heavy equipment are used for multiple purposes; still there is specific work that needs special equipment. This means that not all equipment can be used for all kinds of work.

This leads you to search the heavy equipment you need to complete your work. You can hunt for machines in several ways. Few of them are listed below.

Check with the company or with the dealer:-

This scenario is generally applicable to newbie who do not know much about heavy equipment. To find which equipment will be suitable for the project, you can take directly approach the company who may charge you a bit more to arrange someone survey your project, understand your needs and then help you with few options. Once they know what your project wants, they can even suggest you few types of equipment and then you shall decide if they fit your budget. If you want you can even let them know your resource allocation for heavy equipment and they will suggest you accordingly. Same goes with the dealer but it is unknown if the dealer will take the extra effort to arrange someone survey your project and try and understand your business needs. Contacting a dealer sounds great for people who are in this domain for long and they know which equipment will do what.

Check with people in your business circle:-

This is a better option if you are pretty old in this business. Machines age out and there comes a need when they are required to be replaced. You can simply spread the word in your business circle that you are looking for equipment with certain features and for which you are ready to pay an “X” amount of money. Keep the window of negotiation open. There are always people who keep on upgrading their machine and want to do away with their old stuff. If your requirement reaches them your work is done. You only have to check if the machine is in order. Negotiate to a price that’s comfortable to both of you and close the deal.

Find heavy equipment online:-

There are plenty of websites available that are into selling heavy equipment online. You can also browse the website of the heavy equipment companies to know what they have in store and how much will it cost you. Simultaneously, you can also check the online stores and see if there is any major difference in the price of the products. Once you are done with your research and if you decide to buy it online, get in touch with the seller and arrange to pay him online.

Buy Now on eBay [ebayfeedsforwordpress feed=”” items=”1″]

Looking out for funds – Hunt for big investors

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

If you venture out to do something big you also have to be ready with enough capital to fulfill the monetary needs of the project and in case you do not have enough money with you then the next thing will be to look out for investors who can help you get the money till you are done with the project. Any type of industry requires funding for the inception as well as the completion of the project and it has been generally observed that people who have the idea and the dedication to complete an unique task does not have sufficient money to fund the technological requirements and hence they have to depend upon people who are ready to fund them money and in return they share huge profits or have a bigger stake in the project. So there are investors for everything that you can think of and also for things that you are beyond your imagination but can be brought into existence by some intelligent brains.

Construction companies per say are always in hunt of investors. Be it constructing a hotel or building a bridge or a residential apartment they need investors who are ready to fund their project. In some countries, construction companies do not enter into a project without the consent of their investors. They do not bother to think about how beneficial it will be for the growth of the company but are more concerned about how much profit will the project be able to generate for the investors and accordingly they give their nod once they get a kind of acceptance from their investors. They may not be a normal practice but is increasingly followed by many construction companies.

The big question is how to hunt down a big investor and why will he invest his money into your project. Well the answer is simple. They only invest their money where they see scope of getting high returns in a comparatively shorter time span. So when you get hold of someone whom you know to be an investor and has been funding projects, you got to be pretty sure about your project and what return it will generate for him. Not all investor wants only money out of a project. There are few who are really interested in the type of project that they will be investing their money. So if it is something that goes in sync with conservation of nature and will generate money few years down the line, getting investors for such project is not like having a dream come true. However, finding such men is a bit difficult.

But if you are there to construct a hotel or a bar and you need investments, you will find men willing to fund you. The only clause is the project should be a big one and they should see substantial amount of profit in it. Giving an ad on a website that helps construction companies to find investors will be the right thing to do. You can also check with guys in your business circle and may come up with someone who will be ready to fund your work.

Buy Now On eBay [ebayfeedsforwordpress feed=”” items=”3″]

 

Do your research carefully before approaching a bank for loan

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

For starting any form of business, you need capital and if you do not have capital at home or in hand, it means that you need to borrow. Now the question is from whom to borrow money. There are large numbers of financial institutions who are ready to give loans to budding entrepreneurs but each of them have some or the other condition and to meet those conditions is the toughest part. Some may not have conditions prior of taking a loan but once you have taken it, you find yourself in a muddle. Therefore before you approach a bank, you should do a proper study of all their conditions and then talk to them. If you have doubts, you can clear it out while you meet them but do not keep your doubts for the next moment as that can be dangerous.

When it comes to procuring heavy equipment, you are dealing with a lot of money and if you think that buying second hand heavy equipment will cost you less than a brand new one, you are right in a way but that does not mean that it will be so inexpensive that you may not need a loan to go ahead with the deal. As long as you have allocated enough resources to procure a machine you may skip the idea of going for a loan or else many big construction companies take loan to buy heavy equipment. They feel that it is worth to go for loan because by doing that they will not exhaust all their resources and can use it well when it is most required. They need money to take care of operating as well as non-operating expenses and they never want to go short of money when it comes to meeting those expenses.

Conditions of banks prior to loan approval:-

The first thing that you need to check before you approach a bank is their terms and conditions prior to the approval of the loan. They may have certain conditions like they can approve the loan only if your credit rating is above certain ranking or points or if your annual turnover is above a certain amount. These conditions are in place so that they are assured that you will be able to pay your debts in a timely manner. Some financial institutions may even ask for your business plans and how many construction projects you have in hand. They try to seek this info to know you have work in hand and can be trusted as far as repayment of debts is concerned.

Conditions of bank post loan approval:-

Some banks have conditions post loan approval and you need to be cautious about such banks. They may not mention everything crystal clear verbally and therefore you got to read the disclosure carefully. You may find few things that you are not comfortable with. You can raise those things with the bank and seek clarification. If you find them to be satisfactory, you may proceed or else you can always pick the next option.

Buy Now on eBay [ebayfeedsforwordpress feed=”” items=”2″]

Related articles across the web

Importance of the construction safety goggles for the workers to wear

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Human eyes are very sensitive and they can lose their eyesight, if they are not protected from the potential damages and threats. And while working at a construction job site, there is a high potential of threats and damages for the eyes. Hence, while working at a construction site, it is a must that a protective eye safety gear is worn by the workers. There are special construction safety goggles available in the market that are very useful for the workers to wear and work with these goggles on.

About the eye safety goggles:

The safety goggles are usually made up of high quality plastic that can withstand minor to major shock or pressure and will not break easily. They can protect the eyes from different kinds of hazards and damages. However, for different eye problems, there are different kinds of eye protective gears and goggles. One can choose the type that is most suitable as per the type of construction industry or work that the worker is associated with or works at. These are –

  • Clear safety goggles
  • Chemical splash goggles
  • Welding goggles.

All these can protect the eyes from the possible danger and damage.

Reasons to wear the safety goggles:

When you work at a construction site, there are different kinds of possible damages and danger that can not only cause you other physical harms, but can also cause permanent damage to the eyes. The most dreaded and the biggest fear for the eyes at a construction job site is the flying debris. If they get into the eyes, there is no way that the eyes can be saved.

Sometimes, there is extreme light that the workers have to work in. In such a case, it is quite difficult to look at things. Too much bright light can cause difficulty in vision and work may be hindered. Hence, wearing these goggles, you will be able to adjust your eyes to the light as the right goggles come with a protective layer or film that can reduce the frequency or intensity of light.

Factor to consider while choosing the construction safety goggles:

When you are choosing the construction safety goggles for you, it is a must that you keep the size of the goggles in mind. The most comfortable ones are those that are small and fit the eyes perfectly. However, these give absolutely no space for the prescribed spectacles to be worn on the eyes. Therefore, those, who have problem with the eyesight and have vision problem, will face trouble with this one. Otherwise, they have to wear contact lens.

On the other hand, when you choose the larger ones, there is space for you to wear prescribed spectacles inside. However, this is quite uncomfortable and also vapour is formed on the goggles and this makes it difficult to conduct the task.

Conclusion:

Now that you have understood the importance of the construction safety goggles, it is a must that you choose the best one for you. There are a number of options available in the market. Choose the one that suits your needs.

Starting a construction company in another country

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Starting a business in your home country may not be a bigger problem as compared to doing it in an alien country. You know the rules and regulations that is required to follow if you want to start a business in your country but the rules changes when you move out of your country to some foreign location and think about starting your business there. Though it may sound difficult but there are many companies who have managed to successfully set their base in a foreign land and are doing really well out there. Starting a construction company may sound to be a difficult job but as a matter of fact many countries want foreign enterprises to come to their nation and be a part of their success journey. In return you can get to use their resources and also make good money out of the deal.

Before you think of setting up your venture in some foreign land, there are few things that you should know and implement it in your strategy.

Importance given to the construction domain:-

It is important to know the government’s determination and thoughts about the construction industry as a whole. Governments in some countries may focus on agriculture more than anything else. So it will be futile to set up a construction business out there. So try to know the government’s agenda for the nation before you try to set up anything out there. Some countries are rich in minerals so setting up a mining company makes lot of sense. For that you need to have a bit of experience in the mining industry or you know someone on whom you can vouch and can make inroads in that country. Many African countries are rich in minerals and they can prove to be a great destination for mining companies. They can see a lot of potential out there. As far as construction is concerned, there are many Gulf nations where you can set your business and can expect you go a long way.

Employment opportunities to their people:-

Getting permission may not be difficult if you can manage to convince the government that by allowing you to establish the construction business on their land, it will create lot of job opportunities to its people. It will also lead to the usher of other sectors. For instance, you can construct a pharmaceutical company or a commercial complex which will further employ more people. It is a kind of win-win situation for both of you. The government will for sure take this point and you will get the sanction to start up your company out there. You should also consider the taxation laws of the country and check if you can get any sort of concessions on it.

Legal advice is important:-

Every country has its own legal hassles when it comes to setting up a business. So you need to hunt down a competent attorney who can guide you through the different laws and advice you on how to avoid hiccups that may come your way.

Buy Now on eBay [ebayfeedsforwordpress feed=”” items=”2″]

Second hand machinery

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Buying heavy equipment has always been a challenge for guys who are new to the construction industry. They may have big dreams but when it comes to procuring the basic they start feeling the pinch. Due to their sheer inexperience, they tend to take some incorrect steps that make matter worse for them and eventually things get out of their control. One of the most common decisions taken by newbie’s that falls flat on their face is buying new heavy equipment that can be used on the jobsite. They understand that it is too expensive and will severely hurt the budget of the company. But they somehow see no other option and go for the purchase. Well, they are certainly not out of option when they think they are. One of the most convenient options available with them is opting to buy second hand or used machineries. Such machines are pretty inexpensive and work great on jobsites. They will not find themselves in loss if they go for this sort of purchase.

How does one go about a second hand purchase? Firstly it is important to identify the heavy equipment that is being sold by a seller. Well for this, one can make use of online websites that are into buying and selling of heavy equipment on the internet. All you got to do is register yourself on one such website and browse through the site. You can specifically check the seller’s profile and the kind of machines he is selling. Concurrently, you can also put few of them at keep it in your cart. This means that you can review that item later and continue your search for more such machines.

These websites can provide you with ample of options and machines listed by several sellers at different prices. However, before you go ahead with the purchase there are few things that you might want to follow. Please read the description mentioned on the listing very carefully. It states all about the machine and these are things that you will find important for taking a decision. If you are new to heavy equipment, it is advisable that you get help from some experienced guy and then move forward.

After having gone through the description carefully, if you feel that this is the one you were looking for, try to generate contact with the seller. Since this is a second hand machine there may be few things that you may want to know. Things like fuel efficiency, productivity, reliability and stuffs make a huge impact on your business and you should make sure that the machine is providing you with all these features.

It is prudent to go and personally check the item once. You can do this if the seller belongs to the same state or else you have to judge by what the seller says and take a discreet call. Nowadays, most of the seller who lists their machines on online platforms ensures that they repair the machine or replace any faulty parts with new ones. This is why online selling sites have become a huge success.

Backhoe loaders used to remove snow from roads

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Probably after few months from now that it will start snowing in many parts of the United States and it will be a gruesome task for different construction companies to clear the snow from the roads. This has apparently become a big problem that people are facing every year. They are not able to move out of their homes due to heavy snowfall and it covers the entire road so it becomes almost impossible for the cars to move easily. The only option left is to get the snow removed and clear the roads so that people can get going.

The work to remove the snow is often given to private contractors who with the help of heavy equipment try to complete the work. But it is never an easy job to clear off the roads from snow. Operators working on the heavy equipment find it extremely difficult to balance the machine on the slippery icy road. Controlling the movement of the machine in itself becomes a horrendous task and only the experienced operators are being put to work. It has been witnessed that these experienced operators trust no other machine but a backhoe loader.

Backhoe loaders stand on tires that have high grip and can stand firm in slippery paths. It has also been named as the snow fighting machine due to its capability to clear snow in comparatively lesser time than other forms of heavy equipment. All you got to do is simply detach the loader that is installed in the machine and attach a snowplow in its place which does the trick for the operator. The buckets that are originally installed with the loader are for some reason not the right choice when it comes to clearing snow. For other things like clearing dirt, that may be the best option but it does not go well with snow. This is the reason people have felt the need to attach a snowplow in its place.

As stated that this work is supposed to be done by experienced operators who have worked many times in the past clearing snow, they know when to use which attachment. So if you see snow covering the road outside your house, it is better that you call up the authorities who can get the work done for you rather than jumping with your loader if you have one. Backhoe loaders can also dump the snow into a high sided truck with ease. It can also drill deep into the hard snow, breaking it into pieces first and only when it has developed cracks, hammer it with snow plow so that it breaks further and can be pulled out right from the bottom. You may probably not need any other heavy equipment for this purpose if you have an advanced backhoe loader and perhaps a truck on which you will load the snow.

Clearing snow with difficulty was an issue of the past which no longer exists as long as you are putting a backhoe loader to use.

Related articles across the web

What are the key market trends impacting the growth of the construction industry

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

The prosperity and decline of any industry is directly co-related to the market trends. It has a direct impact on how the industry as a whole is performing. The industry may do exceptionally well if the market trends that positively impact the growth of the industry are on an upward trend. However, the same industry with the fall in the market trends can perform disastrously. Therefore it is quite important to understand the ever changing circumstances of the industry and try to foresee them well in advance so that necessary steps can be taken to make the most during good times and save the business from crippling during the bad times. The growth of the construction industry is also completely dependent on the various market trends that in fact govern the industry. Construction houses take most of their decisions keeping in view these trends and act swiftly if they feel that the trend is now in their favor.

The fall in the oil price:-

The oil price plays an important role in the growth of the construction industry. If there is a fall in the oil price, it affects the industry both positively as well as negatively. The positive part is that the companies can now manage to save good chunk of money not buying oil at higher prices to operate heavy equipment. They can utilize the money to meet other operational costs. However, the negative part is that they are experience a sudden rise in the price of heavy equipment. So if a construction company wants to buy some construction machines, they may have to shell out more money for that purpose. The heavy equipment manufacturing companies increase the price of their product so that they can sustain in a market where the oil price is relatively lower.

Fall in interest rates:-

The rise and fall of the interest rates also has a greater impact on the growth of the construction industry. When the interest rate takes a dip, people flock in to banks to avail home loans. This means that the market for apartments and individuals houses is on the rise. The construction companies who build condominium and houses for people to stay see this as a great business opportunity and increase the pace of their work. If they can manage to construct the apartments till the time the interest rates are down they can mint good money out of it.

Government policies:-

The policies of the government also play a crucial role in determining the market trend and which way the industry will move for the next few years. For instance, the government of the state is keen on developing the construction sector then it is evident that all the sectors pertaining to the construction sector will do well. The hurdles that one usually experience like getting proper licenses are all dealt smoothly. Positive government policy will define the overall trend of the market and the industry will blossom if things fall right in place.

Buy Now on eBay [ebayfeedsforwordpress feed=”” items=”1″]

Administrative and finance are two crucial departments of a construction company

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

Every company has few very crucial departments without which the functioning of the company is unthinkable. Like ways, the two most important departments of a construction company can unarguably be the administrative and the finance department. It is perhaps after the consultation from the head of these 2 departments that the company can take any major decisions. If either of these departments does not give their nod, there are high chances of non-happening of an activity. If heavy equipment and construction laborers are two vital parts of a construction company on the field then the admin and the finance departments are another two vital departments off the field.

A person who wants to establish his own construction company needs to understand the workings of these two departments thoroughly and once he/she is confident that he/she can take vital decisions after understanding the functioning of both the departments, he/she should go ahead. Rest of the important parts like knowing about heavy equipment, what machine is needed for which purpose can be advised by other professionals but there is no expert per say when it comes to the finance and the admin departments. No one can guide you accurately when it comes to the finance section as they do not know your business plan and the capital you have for investment.

If only someone knows about your business plans, they will be in a position to guide you. This work is ideally done by the Head of Department of the finance section since he/she knows about most of the projects the company is working on. However, if you are the owner of small sized or medium sized construction company then you probably not be able to afford an expert and qualified person who would be heading the finance department. It is perhaps you who have to take the lead and take all the important decisions. You will definitely be having few men working under you but they can only help you with data, the rest will be your call. Therefore it is necessary to understand how both these departments work so that you have a fair idea as to where the company is heading.

The work of the admin team is primarily restricted to taking care of the employees by providing them with all the necessary means that will enable them to work in a safe environment. In case, if the employee has any problem, the first point of contact he will approach is the admin team who in turn will check how to get that resolved.

If there is any monetary involvement in sorting out the problem then they might then get in touch with the finance team and check what can be done. If it pertains to any other issue that doesn’t seek the requirement of the finance team, then the process may become a lot simpler. However, it has been witnessed in most of the cases the admin team has to work in sync with the finance team and vice-versa making them the 2 most important pillar of the construction company.

Buy Now on eBay [ebayfeedsforwordpress feed=”” items=”3″]

Heavy equipment should be checked well before taking it on rent

Podcast: Play in new window | Download | Embed

Subscribe: Apple Podcasts | RSS

We normally have the tendency to check the in and out of the stuff before buying it. We do this to ensure that we buy a worthy stuff and not a waste. Now when we are buying something for our business we need to be double sure that it is of good quality and will last for years. But do we have to check the quality of a product that we will be taking on rent. There should be no question that whatever we take related to our business should be of ultimate quality irrespective of us buying it or taking it on rent.

In the construction industry, companies often take heavy equipment on rent. Taking machines on rent is not a practice that is followed by the small construction companies or small time contractors but even big companies on many occasions have rented different types of equipment. They do it for a very simple reason. Construction companies deal with different types of projects for which they require different types of heavy equipment and it does not make any sense to any matured construction company to spend their money in buying heavy equipment when they have the option to get them on rent.

One of the fundamentals that one should follow before taking construction machines on rent is to check the machine well. If only the machine is in good standing that the company should be going ahead with the deal.

Locate the heavy equipment:-

Primarily you have to locate the heavy equipment that you need for your business. You can check with people in your business circle if they know anybody who is renting heavy construction machines. You can also try to get a review of the person so that you know the quality of machines he gives on rent. You can then call up the person and check if he/she has the machine that you need and if he/she has what you have been looking for then ask him to give you a time to inspect the machine. Do not give any commitment before you have seen or examined the machinery.

Check the working condition of the machine:-

The heavy equipment the person is showing you may look good from outside but you do not know its worth as long as you have not worked on it. Therefore, if you are a person who know to work on heavy machines should take a trial and check if it is working smoothly. Just in case, you do not have the technical know-how of heavy equipment it is advisable that you go along with a mechanic and an operator who will examine the machine and will give you precise suggestions. You should also check with the owner of the machine if they have recently changed any of its parts and has there been any issue with the machine that has been fixed by any mechanic. It should not happen that after you have taken it on rent and some problems resurface and you got to face the music.

Buy now on eBay [ebayfeedsforwordpress feed=”” items=”2″]