Startup Capital

[Slvrmple72]

Okay fellas, if you have any spare change in your trucks send it my way I need startup capital.

Now seriously. I have done this work as a part time/ weekend job and I am interested in going into it full time as the owner of my own company. I have a second shift job and along with my wife's income have been able to save up about 100k, even after my warehouse job of 10 years was relocated. I can climb all day but realize that a used chip dump/bucket will really be ideal. I have rented chippers/stump grinders to do the work in the past but also think I should buy used as well. What is a good starting minimum? Thanks

 

[PeteS]

100k is plenty of start up capital. You can snatch up a nice used bucket for around 30 - 35k, or less if you shop around. If you want to climb everything and save some dough you can buy yourself a used chip truck, 15-20k. The prices of used chippers vary depending on what size and model you are looking for, 10-25k. Minimal equipment purchases should leave you plenty in the bank for insurance, workmans comp, advertising and beer money

 

[Slvrmple72]

Thanks PeteS. I have been looking at local equipment but would consider an out of state foray as well. What have some of you done/ considered when it came to your choice of equipment. I have very limited knowledge of diesel and a fair amount on the gas infernal combustion engine. I do not know jack on buckets so any recommendations/ warnings will be taken verbatim. I have been looking for anyone locally who knows how to inspect the boom and cables on older equipment. The threads on this site have given me more than enough pause for concern. I want to spend enough to get the work out of the equipment to pay for itself and cover new equipment purchases when I wear it out. I work my stuff hard but I am a freak when it comes to preventative maintenance. It is a methodology that has worked well for me. Lastly, is there any stuff out there I should avoid altogether?

 

[PLAYFORD TREE]

Thanks PeteS. I have been looking at local equipment but would consider an out of state foray as well. What have some of you done/ considered when it came to your choice of equipment. I have very limited knowledge of diesel and a fair amount on the gas infernal combustion engine. I do not know jack on buckets so any recommendations/ warnings will be taken verbatim. I have been looking for anyone locally who knows how to inspect the boom and cables on older equipment. The threads on this site have given me more than enough pause for concern. I want to spend enough to get the work out of the equipment to pay for itself and cover new equipment purchases when I wear it out. I work my stuff hard but I am a freak when it comes to preventative maintenance. It is a methodology that has worked well for me. Lastly, is there any stuff out there I should avoid altogether?

WOMEN!

 

[lxt]

I would say see what your customer base is going to require, check out some equipment & keep it on the backburner. Go out & bid while estimating what equipment each job will require(budget in mind, we all want toys).

maybe 60% of your work is climbing & 30% bucket 5% stumpgrinding 5% Specialty equipment(just an example).

when I went out on my own, this is what I did, I got into what I thought was a niche market with the towbehind lifts ( at the time I was the only one with one) now all the rental agencies provide them & cant keep up!!! I saw potential for other uses for the machine & it worked.

I guess the best way is to take as much advice as you can, and use what makes most sense to you!!

Good Luck!

LXT........

 

[jonseredbred]

Put the 100k in a long term investment (other than equipment) and keep doing what you are doing. When you make the jump finance some good used stuff to get started.

There will be lean times ahead when you get into any business. Save your money to protect you and your family.

After a year in business you will see what an accomplishment saving 100k is. Save it, use OPM to start your incorporated business.

 

[AlpineJesus]

The sharks up in federal hill only charge 15% interest on start up loans