I have been away building new business in the DFW metroplex for Rentals at Star Tractor. I love it…Heavy Equipment has it ups and downs in this industry. We have been very bless in past year and this year with all the construction in the public and private sector. From houses to schools to highway work and much more.
Construction has not slow down at all here in Texas. I get asked by different customers do you see a down….I always saw no, because differentiation is the key in renting business. Don’t put all your eggs in one basket. Diversify is spreading you’re machines to all kinds of different customers. For example, Excavation to highway work to utility to small contractors. Spread the wealth!!!!
So if you do need to rent some heavy equipment in the Dallas Fort Worth Area, Give me a call at 817-733-3799. And if i do not have it I will send you in the right direction.
Since the construction and heavy equipment industry has risen over the years so has many other industries that are associated with them have developed in these many years. Out of the many industries, one is renting heavy equipment. It is now never a problem to let out your machines as you will always find takers for it. Gone are the days where a person had to struggle giving ads in newspapers to find someone who wants to take the equipment on rent. Now people are educated about how to move ahead with renting equipment. There are number of ways by which you can rent your machine. You can get in touch with a rental company whose main focus is to find parties who have need to give the machine and rent as well as take it on rent. So primarily, they try and bring both the parties at a common place and strike a deal between them. The other option is going online and listing your machine there.
The heavy equipment that people take more than anything is an excavator. It seems that an excavator is quite a flexible machine which can be used for multiple purposes unlike other heavy equipment. You only need to change its attachments and it gets ready for work other than excavating. Due to its flexibility, it is probably the only machine that is high in demand and often gives the owner a good rental value. You can try and know the rental value of your machine from rental companies or from websites where people list their excavators on rent. That is really not a tough job and can help you to know the correct value of the excavator.
Ensure that the excavator is in good shape:-
Before you rent your excavator, it is very important to you ensure that the heavy equipment is in good working condition. If you see any issues with it, get it fixed before you rent it to someone. It creates unnecessary hassles if you hand over the stuff with some faults in it and without informing the user about it. They might even feel cheated and many not want to do any further business with you. This all puts you in a negative light which may turn uglier if he spreads it out to other people. You may find it hard to rent the excavator to anybody else. Also, paint the machine and make it look new every time before you rent it to a new person.
An agreement is mandatory:-
You are required to make an agreement where you explicitly state that you are giving the excavator on rental basis and the person will return it with no or minor wear and tear. Also mention the amount you will receive as rent on a monthly basis as well as the tenure of the contract. Any other details that you feel is important should be mentioned in the agreement. You can appoint an attorney for this purpose who can take care of this part.
It is quite difficult to sell an expensive item how old it may be. You may just not get any buyers and this could be really frustrating at times when you are in dire need of money. At the same time, you may want to get rid of an expensive stuff that you no longer need but you are also not ready to sell it at a dirt cheap price which is why you are not getting more buyers. The people who are interested to buy the item often show their displeasure after knowing the price of the item.
People belonging to the construction industry have often experienced this kind of situation when they are hunting for buyers to sell their heavy equipment. Either you have to sell it at a cheaper rate or you just won’t get more buyers. The reason is simple. People who would be interested to buy a second hand heavy equipment will normally be small time contractors or small construction companies who have just begun their journey in the construction sector. They will have many strong reasons will not want to buy a machine that is though quite useful to them in their business is nevertheless expensive and out of their budget.
If you are part of such a situation it will be prudent for you to give up the idea of selling the machine and think about renting it. In this way, you can earn money on the machine and then the day you feel that it has gone real old and you will not mind selling it as scrap, get hold of a scrap dealer and finish the work. Till then stick to the idea of giving it on rent and earning money without having to do much. Many big construction companies who have lot of heavy equipment under their possession normally lease their machines to small contractors who in turn work for them in their projects. In this way, the machine is used for his construction work and he also manages to make good money out of it.
If you are not a giant construction company and do not possess too many machines to follow the above idea, you can play it smart by renting it to other contractors. You will find many such people who are in hunt of guys willing to lease their machine. You have to just talk to people about it. Talk to your friends who are contractors that if they know anybody who is looking to take the machine you have on rent. Try to spread it across to as many people as you can and you will get responses. Try to give a reasonable quote that is acceptable to the other party and if all sounds good then you should go for the deal.
Before you rent your heavy equipment please try to refurbish it by painting the machine and making it look new. People expect a machine that works and you need to ensure that the parts in the machine are in good condition and it will work for the period that it will be on rent.
The construction activities have increased due to increase in population. Many big and start up construction companies cannot afford to a buy and maintain all new equipment for their work, especially in case of short term projects. Hence, they prefer to buy equipment and machines on rental basis at an affordable price and return it after use. Thus, rental business is profitable and is booming. It is observed that many equipment rentals only rent specific equipments and do not keep all types of equipment. It is because they have studied market and functional aspects of the equipment. Since most of the heavy equipments are multifunctional, being in rental business of specific equipment can be a good idea as it saves the cost of buying and maintaining different equipments.
Excavators are called the giants of the construction industry. They are powerful machines which can dig through concrete, install electrical service, transfer loads of bricks, lift objects high, and break down huge rocks and entire structures. Due to their wide applications, they are very much required in any construction project, however they are expensive. Excavators are in demand, hence starting the business of renting these machines can be profitable. Being a costly investment, it is expected that person should do some research before starting this business.
The following guidelines will be helpful for the person who wants to start the business of renting an excavator:
Excavators are cost and rental service provider (RSP) should be able to afford to buy them. He should be aware of his personal expenses while owing a big place or showroom, advertising, labour and maintenance costs, and so forth. He should make a business plan for selling excavators.
If RSP provides excavators at high rental price then many buyers will find it expensive and difficult to purchase. Hence they will negotiate with the price. RSP should provide excavators at appropriate price.
RSP should make his excavator rental service popular by advertisements in newspapers and websites.
Buying entire fleet of brand new excavators is indeed very costly. To avoid, RSP should study the demands of the market to know which the most preferred model by the construction industry is. Keeping excavator from small to mid-size of different brands is a good option.
Due to technological advancements, the new equipment have become compact and easy to operate, using such equipment has increased the speed at work place and increased productivity. The new compact excavators are more in demand and are preferred to old versions. RSP should provide such technologically advanced excavators on rent, which increases the customer interest and sales.
Buying used equipment on rental basis is common for the short duration projects, hence they are in demand. Thus, RSP can also look for option of renting ‘used’ or ‘second hand’ excavators, since purchasing such equipment is cost affordable. However, they should be careful while choosing such equipment that they are not damaged. Only when these used machines have less wear and tear and their parts are available that they should be purchased from the seller.
RSP should be careful while renting the expensive heavy machines to the buyer. They should understand the nature of work requirements of the customer and should guide them properly. They should make sure that the buyer has the capability to pay the rental amount and would take care of the equipment and will return the equipment in good condition. After all the terms and conditions are acceptable to both parties, a rental agreement has to made between RSP and prospective buyer
A construction or mining project however big or small it is, it spread a lot of dust all around which causes tremendous problems for the people working on the jobsite. The only solution to this is spray water on the dust and settles it down. Now you can’t have your water storage move across the jobsite. It is virtually not possible as it is a non-portable structure and will not simply move. So the best available option with you is to make use of a water truck and spray it all over the jobsite by driving the truck to each of its corner. This may sound to be an added investment though but will be really worth for the smooth functioning of the project and also it protects your employees for any airborne disease. But buying a truck only for the purpose to spray water may prove to be very expensive and one may not buy it to take care of one specific cause. Therefore, the simplest way out will be to take it on rent.
There are many heavy equipment companies who manufacture water trucks and based on the goodwill and brand value of the company, the rental value of the truck is determined. However, there will not be a drastic difference in the rental value of the truck. So one can go for a water truck manufactured by the best heavy equipment manufacturing company without worrying much about the recurring rental amount and speed up the completion work of the project.
Now there are many ways through which you can take the truck on rent but there are 2 specific ways that are used by most of the mining and construction companies. The first is contacting the heavy equipment rental companies who will get them any sort of heavy equipment under the sun by charging a nominal fee and the second is by checking water trucks on website that deals with sales and lease of heavy equipment. The first option can prove to be a little healthier one.
The heavy equipment rental companies cater heavy equipment to the construction and mining companies. They are associated with almost every contractor or construction companies in the town and they provide all kinds of machines that are needed in the mining and construction industry. So reaching out to these men will help as they will be able to locate if anybody wants to rent their water truck. They may charge a small percentage of commission or fees from you and will get you exactly what you need.
In the second option, you have to take your call as you will not have anybody to take immediate advice from. You can visit any online portal that deals in renting heavy equipment and search for water trucks. You will get to see people who want to rent their trucks. Check out the description mentioned on the listing and if everything suits your requirement, you can call the party and finalize the deal. In this case you do not have to pay anything to the site as the site will be charging listing fees from the giver.
We buy heavy equipment on the basis of our needs and it has been often seen that after upgrading the heavy equipment, we are ultimately left with 2 machines of the same stature. So what we eventually think is to do away with the old one since we do not see any need of it. Well, we are wrong if we think about selling it off unless the machine is too old for anybody to use it and you sell it as scrap. However, when you have the option to rent the equipment why go for selling it. Bulldozer is often the first equipment possessed by a contractor. He may need it for his demolition business but then after a point in time he will think of upgrading his arsenal and might buy another one which is far more technologically advanced. In a situation like this, he can end up renting the previous machine and continue to make recurring income.
There is always a market for renting bulldozer:-
Bulldozers will never find themselves out of market. As long as the construction industry is in existence, dozers will have their place in this segment. Therefore, the dozer you have and you may not need it will always find someone who will want to use it. You can let it out to them by making a contract for a week or month or year or more than that and also fix an amount that you will get as a compensation for letting the other person use your machine. There are many contractors who are in constant hunt for dozers as they can’t afford to buy a new one. They are pretty happy to pay the rental money in lieu of the dozer.
Dozers are eye candy for demolition business owners:-
People who are into the business of demolition do not intend to make big investments. As a matter of fact, this is probably one of the few businesses where you do not need a lot of capital to invest to kick start your business. All you need in the form of heavy equipment is a dozer and few accessories that you need on the dozer. They certainly do not want to buy a dozer which can prove to be very expensive to them. The best alternative for them is to get it on rent. Since the rentals of dozers are comparatively cheaper than other heavy equipment, it certainly fits into their pocket. Simultaneously, getting a demolition job is simpler; they can easily afford to pay the rents without any defaults.
Can demand higher rent if machine is in good condition:-
The instrumental factor that determines the rental price of a dozer is the condition of the machine. If the machine is in good health then the price can be a bit higher but if it is not then you can’t expect a good rental value from it. This means that you got to take good care of your machine whether it is in use or not so that if ever you have to let it out, you can get a good price for it.
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Many newbie after starting their business in the construction domain has experienced the problem of shortage of heavy equipment. It is because of this issue they lose many important projects that can be a life changer. This is when they feel dejected and some are even forced to shut down their offices. Well, as a matter of fact, things are not that bad as it may seem to be for guys who really want to make a career in this profession. Unquestionably, heavy equipment is very expensive but that does not mean that one can’t operate his business just because he can’t afford to buy them. Well, if you can’t afford to buy them you can definitely afford to take them on rent and that is the most viable option you can take to carry on with the business.
The question is how one can trace people who are renting their heavy machinery. This was a difficult job few decades ago but after the inception of internet that has taken over the entire globe this is no longer a challenge. There are numerous online platforms that are helping people to meet their business needs. It was not that the taker was experiencing the problem of not finding someone who is ready to let his machine but the owner equally experienced the same issue. However, with the advent of internet a lot of these problems have come to rest.
All you have to do is register yourself with an online platform that deals with buying, selling and renting heavy equipments. There are also other online portals that deal with almost everything. So you got to first ensure that you have reached the right platform. It is advisable that you register yourself with a website that exclusively deals with heavy equipment. Such online portals can be very useful as you will get to see heavy machinery of different brands and of different types. You will not be restricted to just one type of machine. You can just search for the thing you are looking you will get all under one roof. This was not possible before internet could make its presence felt to the people from the construction industry.
Though internet has been helpful to many people from all walks of life, but if we limit our focus to guys from the construction and heavy equipment domain, this technology has been nothing less than prolific. There are few instances where some buyers were cheated by fraudulent sellers but the online portal owners are looking into these cases and making their laws stringent so that rights of both the buyers as well as sellers remain protected. Frauds can happen in any industry and in any kind of environment. The rise of internet should not be blamed for any fraudulent activity. On the contrary, norms should be made so that renting heavy equipment online can happen risk-free and more people can reap benefit from this technology.
When you are dealing with highly priced items, it is very important that you follow the right platforms to deal with them or else it may lead to various sorts of complications in the future. It may also lead to losing the heavy equipment forever. In order to avoid any confusions or hindrances, it is crucial that you follow the right platforms and you will find things going your way. Construction equipment is quite expensive. You buy a machine for thousands of dollars and put it to use for few years. After which you feel the need to upgrade your arsenal and have to do away with the old machine. However, if you are not a filthy rich guy, it will definitely pinch you hard to just let go the old metal. If possible you may want to retain the machine but if you do not see any use of it, then there is absolutely no point in keeping the junk with you.
In such a situation it is prudent that you let-out the machine to another user and collect monthly rent from him. In this way, you still possess the equipment and also have put it to use and simultaneously getting good money as rent. Now, when you talk about renting the machine, it is quite imperative that you follow few parameters that will let you rent the equipment without any risk of losing it. Following few essential parameters means that you rent the machine through proper channels and by following right set of rules.
First and foremost you should be checking the right channel through you can search takers who would be willing to take your machine on rent. You can depend on newspaper classifieds or websites that exclusively deals with heavy equipment. Most of the websites that deals with purchase and sale of heavy equipment also works in the sphere of renting them. You have to classify one such website that is pretty famous within the masses. By posting the heavy equipment in that website will increase its viewership. People from across the country will get access to check the ad and anybody is interested will get in touch with you. You can then decide if you want to ship it to a different city or want to give to someone who is from your city.
You may charge the shipping cost from the taker but that has to be informed to him in advance. One more thing that is more important that discussing the shipping cost is the rent amount and the period for which they are seeking to rent the machine. Also, you got to state them very clearly the duration at which they need to service the machine. If the machine will be used extensively then servicing the machine should be more frequent. Make sure that you prepare a proper rent agreement with the taker and mention all the valid points that you guys have agreed to in the agreement. Once the agreement is signed, you can ship the machine to the taker.
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In a construction job, there are various types of heavy equipment used and many heavy equipment are more or less similar as far as their work is concerned. This means that one type of heavy equipment is compatible to do work of other heavy machineries as well. Though they have certain limitations but can certainly be used in the absence of the primary machine. One such heavy equipment is a Track Loader which is competent in excavating land and loading the debris automatically on the truck.
Though people prefer using an excavator for digging deep in the ground but something that does not require digging that deep can be done with a track loader. At the same time, since excavators are more in demand, they are also highly priced machines. You can find a track loader to be anytime cheaper as compared to an excavator. However, a track loader is more often rented than any other machine. The reason could be that it is available within the budget of a mid-sized construction company.
By renting a track loader, you can earn good rental income. So in case you have a loader that is not in use and you have decided to sell it, you should perhaps give it a second thought. Selling the machine will give you a good chunk of money but that will be the end of the story but if you let it out for months or year or so, you continue to get the rental income and also by regular servicing of the machine, you can lengthen its life and therefore keep its selling price intact.
Getting a taker for the loader is also quite simple. With the help of internet, you can post the machine on an online portal and write in details about its description. Try to post as many pictures as you can so that people by getting a look of the machine can assume it to be a good one. Quite truly, the machine has to look good to catch one’s attention. Therefore, if the loader is dirty and looks filthy, get it washed and painted. If there are any dents, get that removed and replace any parts that have ceased to work. All this needs to be done before you put the pictures on the listing. A detailed description is important for people to know what they are getting into. Normally, takers wish to contact the owner of the machine before striking the deal. So you can write all that is true and wait for the takers to call you.
While you list the Track Loader, please specify the rental amount in clear terms. There should not be any sort of confusion pertaining to that. If you are ready for negotiation, you can entertain the taker or else strictly mention that you are not willing to negotiate the price. Ideally, you should keep a window for negotiation and not be so rigid with the price.
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Beginners joining any profession have to be really careful on the expenses they are making on their business. They might have extremely no control on their expenses as they may not understand how to block the flow of expense. They have to take care of a lot of recurring and non-recurring expenses and while they do so, they may completely lose track of the money left in their bank account. One fine day, they may find their bank account showing very less balance and may foresee lot of expenses to clear. They may find themselves to be in a very tight position and therefore it is important that they refrain from doing any expenses that is not much needed for the smooth running of the business.
To be more precise, if you are in the construction business, you got to be more cautious than ever. For timely completion of projects, you got to possess heavy equipment that are very expensive and if you do that then you tend to spend a good portion of your money for procuring the machine. This may leave you with very little money to meet other business obligations. Hence, it is advisable that if you are a beginner in the construction industry, do not spend your money in buying heavy equipment. On the contrary, you can take them on rent. That will turn out to be a good deal for you where you do not have to spend a bounty and things will be very much in your control.
Identify the heavy equipment you may need for your project:-
It is very crucial to know what type of heavy equipment is required for your business. As long as you do not know that, moving ahead will be difficult. Take guidance from people in the industry if you have any or join some blogs where you can put your questions about heavy equipment to them and you might get real good replies which will prove to be very helpful to you. Once you have identified the heavy equipment, the next goal will be to check the rental price of the machine. Not every owner of the equipment will rent it at the same price. The rental price of the machine may vary keeping into consideration the quality of the machine, the period for which it has been used. In other words, if the machine is not much older then you may have to pay more rent. However, if it is an old piece then you supposedly have to pay less for it.
Go to online portals to check the machine:-
Owners list the heavy equipment on websites that deals with selling and renting of construction machineries. Going to such websites will be really helpful to you as you will get to see a lot of options at different prices. You can then select the one that you seek to have and speak with the owner. If possible you can negotiate the price and try to bring it lower. You will end up getting a good deal at a considerably lesser price.
