Mini excavators have become quite popular owing to their efficient digging abilities. But the fact remains that only very few people understand how to make the most of these machines. When a mini excavator is paired with the right attachments and a coupler system, this machine can be leveraged to perform a wide array of tasks that can generate higher streams of profit.
Mini or compact excavators, aside from being lighter and smaller, leave fewer track marks and less top ground damage. Additionally, these machines are very much comfortable and easier to handle in a crowded area. They can also be easily moved from one work site to another and they tend to have a longer life than a standard excavator.
The primary reason why people purchase mini excavators is to avoid hiring costs. In the United States, excavator hires cost around $220 – $520 per day, depending on the location, brand, age, and size. It’s also vital to note that an excavator that is properly handled will have a lifespan of around 10,000 hours.
You will also need to know how much your current rental company charges, the cost of renting from them, and how much service and maintenance will end up costing you. If you are in a line of business where you have to use an excavator too often to justify owning one, then you should definitely get one. Owning an excavator can help reduce your continued hiring costs which will also remove the unnecessary stress of scheduling a hire with companies.
5 Most Lucrative Ways to Make Money With a Mini Excavator in 2022
Compact excavators are great at what they are constructed for — digging in confined spaces. And just like it was stated above, when paired with the right attachments and a coupler system that allows for quick and easy exchanges, there are a wide array of jobs and tasks you can do to generate more profit.
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1. Mini Excavator Renting
Renting out your mini excavator is a straightforward way to make money with your excavator. In a very sustainable market, you can rent out your mini excavator for $350/day, 100 days in a year, and all of your investment would have been reclaimed.
When renting out your mini excavator, you will receive 100% of your initial investment back in revenue, but there are other business costs you have to deal with like; equipment repair, maintenance, insurance costs, and even cleaning costs.
Regardless, you can expect to make a substantial profit after taking care of all your expenses. Another good thing about renting your equipment is that you can still use it on the days you don’t have it rented out.
Landscaping and Grading
In places targeted for development, mini excavators can be used to improve properties with their ability to level dead or fallen trees and move underbrush. With numerous attachments like midsize buckets with teeth, clamps, and three-tined grapples, you can easily grab, pull and drag saplings and rooted undergrowth. When also paired with a flail mower, a mini-excavator flourishes at clearing brush, saplings, and grass.
Small Demolition Jobs
Excavators are ideally suited to demolition work. When paired with a concrete breaker, you can break concrete and asphalt driveways, sidewalks, trails, paths, and swimming pools. Also note that this combination can reduce vertical structures, such as old buildings and retaining walls, into sizable chunks. Owing to the size and dexterity of a mini excavator, as against large excavators, it makes it the best machinery to destroy small structures.
Nonetheless, remember to post ads on every directory site you possibly can. Advertise on social media saying that you’re doing demolition jobs, and include all the keywords. You can charge at a minimum of $75/hr, but likely much higher. Do some research and see what people in your city/state are charging.
Have it in mind that another way to make money with an excavator is to render your services to local businesses by helping with loading and/or unloading. Without doubts, there are businesses (and also individuals) that need help loading or unloading a wide variety of materials and your mini excavator presents the best option for them.
Note that you can charge $75/hr+ for loading and unloading work. In addition, you need to have a minimum amount of hours per job, a delivery fee, or maybe both. It is also imperative to find out what is the standard in your area and create your rules accordingly. To find work with local businesses, you may need to attend networking events.
Without a doubt, one of the worst experiences of winter is moving snow off your driveway. However, with a mini-excavator, you are equipped with the right type of equipment to help people solve a big problem. Depending on the size of the driveway, you can charge more than $50 for a clearing you can do in less than 30 minutes. If you can land a group of houses in one neighborhood, then you can make some good income.
However, do not forget that winter can be hard on heavy equipment, so you have to be ready for the worst-case scenario. Ensure to take into consideration your equipment, situation in the winter, and technical knowledge to determine whether or not snow clearing is ideal for you and your excavator.
Although mini excavators are originally for digging activities, their compact size, versatile range of attachments, and proven performance have brought a whole new dimension and also extra ways of making money. However, owning a mini excavator does not entail that you will become rich. It takes intelligence and cultivating good relationships with people. If you lack a good relationship with people, you will not gain much from it.