If the recent boom in the construction sector attracts you, it may not be a bad idea to invest in a dump truck to make some money.
Obviously, your potential clients are going to be homeowners, landscaping companies and building contractors.
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If you are interested, here is a quick guide on how you can make money with a dump truck:
Owning a Dump Truck
Needless to say, this money making idea would work only with the possession of a dump truck.
If you already own one, great!
Otherwise, you need to get one, perhaps a used dump trucks in order to save your initial cash outlay.
If you are not picky, it should not be too much a challenge to find a below $10,000 secondhand truck.
Of course, its make, model, and mileage covered would all be factors in the price tag, but a budget of around $20,000 should present you with plenty of decent options.
If money is no subject, consider a brand new one, with average price around $160,000.
Before you work on your budget, do yourself a favor and acquire a commercial driver’s license (CDL), as this is a prerequisite in order to operate a dump truck.
Individual districts and locales may require specific licensing or additional training requirement before you can take your dump truck business online.
Get in touch with the IRS and acquire a tax ID number. This is required for the operation of your business and opening up a business bank account.
To learn more, check out IRS’ official guide on Tax and small businesses.
As in any new and emerging business venture, you will need to be visible to your clients before they get to know you better.
- Start with business card and letterhead designs, and once they are ready, start sending out these to your prospective customers.
- In the world of business, there is no such thing as over preparation. Make your new business stand out by attaching impressive credentials, alongside with contact information and pricing schedule. The objective is to go to market with as much ammunition as practically possible.
- Ad placements on neighborhood papers and yellow pages should be a top priority. Describe in details the kind of work you (or your dump truck) can comfortably carry out.
- Spare some cash to invest in newspaper, radio or even TV ads. If money is a constraint, you can physically distribute brochures and posting posters in your neighborhood.
- In order to keep costs down, bring your advertisement online to classified sites like Craigslist and Backpage as the charges there are miniscule, if not free.
- You can also publicize your new business on Facebook.com, or any social media platform in general. The objective is to extend your reach to the furthest corner possible.
- There are many DIY style homeowners who undertake their own renovation or landscaping projects, they will definitely need a hand to remove or haul in materials as part of their excavation or remodeling process.
- And don’t leave things to chance; clearly describe the nature of business you are in, while always making sure that your contact is clear for all to see.
Contact Landscaping Suppliers
Initiate contact with local landscape suppliers. Tell them of your ability to move dirt and landscaping materials around in your district and let them know that you are perfectly happy to work on contract.
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Make personal visits to all individual stores and request to speak to the managers directly. Leave behind your name cards, pricing schedule, and copy of document proof to show that your dump truck business is a legitimate business.
Local Dump Truck Driving Jobs
Get in touch with transportation providers in your area on job possibilities. e.g. winter snow removal job, or any other job types that fit your dump truck.
If your town council engages independent contractors for snow clearing, check with them on how you could be of service.
Ultimately, you will need to work with local builders in order to see your business grows in a significant sense. Propose yourself to be an independent contractor for them.
There will always be constant feed of jobs as they make dump trucks to clear debris and dirt from the construction sites on regular basis. Get down to the builders office or visit their job sites.
Again, use your business cards and relevant documents to good effect.
Lease out Your Truck
When jobs are far and few in between, it may be a good idea to lease out your trucks.
Granted, this is not going to be as profitable if you use them for your normal services but at least they still generate some income when they are not in use.
When you get into a business with dump truck, it is imperative that you don’t let it stay idle for long.
Whether you are working with your dump truck, or simply leasing it out, you can expect to derive some income from your investment here. The rate varies dependent on the kind of work, and also your location.
Naturally, the business requires fairly substantial investment outlay, but you should be able to recoup your upfront cash in fairly short time.
And the biggest factor that works for you is that there is perpetual need for dump trucks in the market.