Getting a business off the ground in the construction industry can be particularly tricky. You might have years of experience under your belt and know what you’re doing- but with all the health and safety laws and the actual cost of getting started, it can be enough to put anyone off. One huge expense when you’re hoping to start a business in this industry is the equipment. Power tools and materials are one thing, but large vehicles like diggers, cherry pickers, and various other trucks can run into hundreds of thousands. Here are a few things to consider when it comes to choosing and buying vehicles for your construction business.
Consider Leasing
If you don’t have the funds right away to purchase these vehicles, why not consider leasing? That way you can start work immediately, and once you’re turning a healthy profit, you can invest in them. When you lease, it frees up capital to use elsewhere, and you also don’t need to worry about maintenance costs. Providing you’re not responsible for causing damage and them breaking down, they will be repaired for free which again is extremely useful when you’re strapped for cash in the beginning.
Buy Second Hand
If you’d prefer to own your vehicles from the get-go, buying second hand is going to make more sense than going for new. While newer models will be more efficient with more features, it’s a cost that few startup businesses are going to be able to cover. Check out auctions and see what kinds of things are available. When companies go bankrupt or have assets seized they can often end up being put up for auction. Bad news for them, good news for you. Don’t forget to check out vehicle listings online too, and see if you can snag a bargain.
Make Refuelling Easy
Whether you hire, buy new or buy second hand, one cost that you’re always going to have to factor in is fuel. Since vehicles that aren’t used on the road (such as in construction and agriculture) are often eligible for reduced rate fuel, this can allow you to save money. You can buy fuel containers of oils and red diesel online, which saves money and is more convenient too. Make sure you’re scheduling enough deliveries to cover the fuel you’re using, so you’re not waiting around or being delayed.
Find a Good Mechanic
Unless you’re hiring equipment, you have to be prepared to sort out repairs as and when they’re needed. A vehicle being out of commission even for a few hours can push deadlines back massively and mess up your timings. Especially when you only have one of each machine so don’t have backups to rely on. Having a reliable mechanic on hand to sort issues as they arise can help to keep everything running smoothly.
Do you have any tips for new construction businesses when it comes to buying vehicles? What do you think is the best way to keep costs down when buying such expensive equipment?
