You do a great job of explaining your costs and struggles. It's great to see what's all entailed in your business! We operate a forestry business and are looking to open a separate equipment rental business down the road. I find it super helpful to watch content like this to get a feel for the industry before jumping in!
Awesome content. I am a recently retired elementary school teacher and have been running a lawn and landscape business with my son for about 11 years. We started doing fence work when one of our lawn customers asked about building a fence. Things have progressed nicely and I bought a ditch witch mini skid 2 years ago with the intentions of renting it out when I wasn’t using it. Looking to do more renting than laboring in the near future.
I’m curious about what kind of insurance you have for the business/equipment. Do you purchase insurance that will cover if they break it? Do you just carry GL policy for the business?
I’ve been looking t this and have the cash to start small. I was thinking about buying concrete/mortar/mixers, log splitters, limb chippers, garden tillers, walk behind brush cutters, etc. and renting those out from my home and work my way into bigger pieces of equipment such as mini excavators, track skid steers, man lifts, etc. I have a 1/2 ton pickup that is paid for and just need a small flat bed trailer to haul this stuff on.
Hi guys, love the channel. I’ve started and running a similar dry hire business here in Australia - wondering how much of your fleet do you own vs how much equipment is financed ?
Hey guys, idea for you. Why don’t you put together a packet of information on how to start a rental company. As far as what’s needed, insurance, all the basics. Information on taxes, and how to get the business legitimate. Any thing else that would be needed. I’m sure you guys could sell it. If you do something like that, give me a discount. Lol . Or why don’t you guys do paid calls for business counseling. Excellent job guys. Praying and hoping the best for you.
I've looked into this, for a down payment on 2 pieces of equipment it's about 30k (skid steer and excavator.) This excludes any programs the dealership is running, and accounts for about a 25% down payment.
You do a great job of explaining your costs and struggles. It's great to see what's all entailed in your business! We operate a forestry business and are looking to open a separate equipment rental business down the road. I find it super helpful to watch content like this to get a feel for the industry before jumping in!
Thanks so much!
I LOVE your videos! I don't think you're misleading anyone, and the information you're providing benefits all of us. Thank you for making them.
Great videos. What kind of insurance policies does this business require and what does it cost? Thank.
Awesome content. I am a recently retired elementary school teacher and have been running a lawn and landscape business with my son for about 11 years. We started doing fence work when one of our lawn customers asked about building a fence. Things have progressed nicely and I bought a ditch witch mini skid 2 years ago with the intentions of renting it out when I wasn’t using it. Looking to do more renting than laboring in the near future.
I’m curious about what kind of insurance you have for the business/equipment. Do you purchase insurance that will cover if they break it? Do you just carry GL policy for the business?
Do you need any special license to haul your equipment? DOT #? MC #? Have you had any issues when towing your equipment?
When you say that the customer pays for the fuel are they directly paying for how much they use or is it in the rental price?
I’ve been looking t this and have the cash to start small. I was thinking about buying concrete/mortar/mixers, log splitters, limb chippers, garden tillers, walk behind brush cutters, etc. and renting those out from my home and work my way into bigger pieces of equipment such as mini excavators, track skid steers, man lifts, etc. I have a 1/2 ton pickup that is paid for and just need a small flat bed trailer to haul this stuff on.
Hi, what kind of insurance you use to rent, Im trying to start my business, but I need more information, Thank you
Hi guys, love the channel. I’ve started and running a similar dry hire business here in Australia - wondering how much of your fleet do you own vs how much equipment is financed ?
Hey guys, idea for you. Why don’t you put together a packet of information on how to start a rental company. As far as what’s needed, insurance, all the basics. Information on taxes, and how to get the business legitimate. Any thing else that would be needed. I’m sure you guys could sell it. If you do something like that, give me a discount. Lol . Or why don’t you guys do paid calls for business counseling. Excellent job guys. Praying and hoping the best for you.
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Whats the average hours put on machine per 24hr rental?
Really depends on I’ve had people rent for two days and put less then 2hrs total. And people put 12hrs a day on it
Great video bro!
How much do you need to start an equipment rental business?
I've looked into this, for a down payment on 2 pieces of equipment it's about 30k (skid steer and excavator.) This excludes any programs the dealership is running, and accounts for about a 25% down payment.
Great info, thank you
Glad it was helpful!