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.
If you’re interested, here is a quick guide on how you can make money with a dump truck.
Owning a Dump Truck
To start, you’ll need a dump truck.
If you already own one, great!
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Otherwise, you need to get one, perhaps a used dump truck in order to save your initial cash outlay.
If you are not picky, it shouldn’t be too much of a challenge to find a used dump truck for under $10,000.
Of course, its make, model, and mileage will factor 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 the average price tag being 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 local governments may require specific licensing or additional training before you can legally launch your dump truck business.
As with starting any other small business, to start a dump truck business, you’ll need to get a tax ID or EIN if you want to run your business as anything but sole proprietor (which I suggest you do both for legal and tax saving reasons.)
To learn more, check out IRS’ official guide on Tax and small businesses.
As in any new and emerging business venture, you’ll need to be visible to your clients.
- Start with business cards and letterhead designs. Once they’re 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 contact information and pricing schedule. The objective is to go to the 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 a newspaper, radio or even TV ad. If money is a constraint, you can physically distribute brochures and post 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 minuscule, 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; describe the nature of the business you are in clearly while always making sure that your contact is clear for all to see.
Getting Your First Few Jobs/Clients
Now that everything is in place, it’s time to make some money.
And to make that money, you’ll need to find people/companies that need what your dump truck can provide – moving and hauling supplies, heavy equipment, and materials.
Here are a few ways to get your initial customers.
1. Contact Landscaping Suppliers
Landscaping suppliers and contractors often need a dump truck to move rocks, dirt, and other landscaping material to the job site.
Look up your local Yellow Pages and classified sites to find local companies. Then contact them and let them know you are available.
I’d also visit landscaping supply stores and talk to the owners/managers directly.
2. 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 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.
3. Local Builders
Ultimately, you’ll need to work with local builders in order to see your business grows in a significant sense.
Local builders and contractors often use dump trucks to haul away material to the job site, haul away dirt and derbies from demolition sites, and so on.
Find a few and talk to them about the possibility of them using your service. Perhaps offer some kind of “new customer” discount to sweeten the deal.
4. Lease out Your Truck
This works just like renting out your car for extra cash. 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, but at least your truck will still generate some income when not in use.
The Bottom Line
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 amount of money you can make will depend on a few factors – location, how much work you can manage to get, etc.
Naturally, the business requires a fairly substantial investment outlay, but you should be able to recoup your upfront cash in a fairly short time.
The best thing about operating a dump truck business is that there is always a need for dump trucks to move materials that are too big and heavy for your usual pickup trucks.