Discussion
Anyone know anything about it?
I'm thinking f buying a digger and hiring it out, I already have a dumper and there's nothing around here that does this sort of thing. I know the hirer is responsible for the kit when on hire, so do I just need public liability insurance? and my own insurance
Thanks in advance
I'm thinking f buying a digger and hiring it out, I already have a dumper and there's nothing around here that does this sort of thing. I know the hirer is responsible for the kit when on hire, so do I just need public liability insurance? and my own insurance
Thanks in advance
I bought a mini-digger (2.8 tonne) when I was renovating my house, and was planning to sell it at the end. By the time I'd finished my place I had several people asking if they could use it, so I started hiring it out. Last week I bought a second (secondhand!) one, because it was cheap and I knew the previous owner.
I already have an agricultural contracting business, so there was very little need for additional administration/registration. It helps that I already have several vehicles and trailers which can transport them to customers. It helps also that we have a fully-equipped workshop and can fix the machines ourselves.
I make a point of hiring without a driver as (according to my insurers) it limits my liability for damage. If I deliver the machine personally, I make sure that the hirer is comfortable working with the machine before I leave.
I don't think I make a huge amount of money from it, but the first machine had already paid for itself several times over. I've toyed with the idea of expanding it and buying newer kit, but then I'd probably be chasing work. I just see it as something on the side.
I already have an agricultural contracting business, so there was very little need for additional administration/registration. It helps that I already have several vehicles and trailers which can transport them to customers. It helps also that we have a fully-equipped workshop and can fix the machines ourselves.
I make a point of hiring without a driver as (according to my insurers) it limits my liability for damage. If I deliver the machine personally, I make sure that the hirer is comfortable working with the machine before I leave.
I don't think I make a huge amount of money from it, but the first machine had already paid for itself several times over. I've toyed with the idea of expanding it and buying newer kit, but then I'd probably be chasing work. I just see it as something on the side.
sunbeam alpine said:
I bought a mini-digger (2.8 tonne) when I was renovating my house, and was planning to sell it at the end. By the time I'd finished my place I had several people asking if they could use it, so I started hiring it out. Last week I bought a second (secondhand!) one, because it was cheap and I knew the previous owner.
I already have an agricultural contracting business, so there was very little need for additional administration/registration. It helps that I already have several vehicles and trailers which can transport them to customers. It helps also that we have a fully-equipped workshop and can fix the machines ourselves.
I make a point of hiring without a driver as (according to my insurers) it limits my liability for damage. If I deliver the machine personally, I make sure that the hirer is comfortable working with the machine before I leave.
I don't think I make a huge amount of money from it, but the first machine had already paid for itself several times over. I've toyed with the idea of expanding it and buying newer kit, but then I'd probably be chasing work. I just see it as something on the side.
I just basically need a diiger and there are none to hire (loads of people in the same boat) so I was going to but a secondhand 3 ton digger and use it then hire it out to get some money back. Like you I have vehicles and trailers to collect and deliver the machine and a workshop and I am pretty handy with the spanners. I don't want to necessarily make a living from it, I just want a cheaper digger.I already have an agricultural contracting business, so there was very little need for additional administration/registration. It helps that I already have several vehicles and trailers which can transport them to customers. It helps also that we have a fully-equipped workshop and can fix the machines ourselves.
I make a point of hiring without a driver as (according to my insurers) it limits my liability for damage. If I deliver the machine personally, I make sure that the hirer is comfortable working with the machine before I leave.
I don't think I make a huge amount of money from it, but the first machine had already paid for itself several times over. I've toyed with the idea of expanding it and buying newer kit, but then I'd probably be chasing work. I just see it as something on the side.
I am more interested in what insurances I need can you give me an idea?
I have got 2 mini diggers and did think about hiring them out properly.
The biggest problem imo is them being stolen. People hiring them are meant to have hired in plant insurance which i assure you barely anyone has.
You can get it for them i believe on their behalf but it costs, so all they would do is go elsewhere to get a machine cheaper.
I have never hired a machine and been asked about it, I'm sure theres one round here which insists on it, maybe they are hiring to larger companies who do have it.
I suppose like any decent business it gets to the stage where you've got a lot of plant which is always out and bringing money in, you can afford to lose the odd machine perhaps as opposed to a little bloke with 3 or 4.
On paper initially it looks like it makes f
k all money, if however you have several machines which are out all the time then its clearly decent.
Ive seriously thought about it but i think if you want to earn good money from it you need a lot of money to start with.
It also looks like what a lot of them do is buy brand new stuff on finance and chop it in after 3 or 4 years when they are still worth good money and haven't needed any or much work until then.
My digger is about 280 a month on finance. if i had 10 of them going out every day...... easier said than done though.
The biggest problem imo is them being stolen. People hiring them are meant to have hired in plant insurance which i assure you barely anyone has.
You can get it for them i believe on their behalf but it costs, so all they would do is go elsewhere to get a machine cheaper.
I have never hired a machine and been asked about it, I'm sure theres one round here which insists on it, maybe they are hiring to larger companies who do have it.
I suppose like any decent business it gets to the stage where you've got a lot of plant which is always out and bringing money in, you can afford to lose the odd machine perhaps as opposed to a little bloke with 3 or 4.
On paper initially it looks like it makes f
k all money, if however you have several machines which are out all the time then its clearly decent.Ive seriously thought about it but i think if you want to earn good money from it you need a lot of money to start with.
It also looks like what a lot of them do is buy brand new stuff on finance and chop it in after 3 or 4 years when they are still worth good money and haven't needed any or much work until then.
My digger is about 280 a month on finance. if i had 10 of them going out every day...... easier said than done though.
RT Phil said:
sunbeam alpine said:
I bought a mini-digger (2.8 tonne) when I was renovating my house, and was planning to sell it at the end. By the time I'd finished my place I had several people asking if they could use it, so I started hiring it out. Last week I bought a second (secondhand!) one, because it was cheap and I knew the previous owner.
I already have an agricultural contracting business, so there was very little need for additional administration/registration. It helps that I already have several vehicles and trailers which can transport them to customers. It helps also that we have a fully-equipped workshop and can fix the machines ourselves.
I make a point of hiring without a driver as (according to my insurers) it limits my liability for damage. If I deliver the machine personally, I make sure that the hirer is comfortable working with the machine before I leave.
I don't think I make a huge amount of money from it, but the first machine had already paid for itself several times over. I've toyed with the idea of expanding it and buying newer kit, but then I'd probably be chasing work. I just see it as something on the side.
I just basically need a diiger and there are none to hire (loads of people in the same boat) so I was going to but a secondhand 3 ton digger and use it then hire it out to get some money back. Like you I have vehicles and trailers to collect and deliver the machine and a workshop and I am pretty handy with the spanners. I don't want to necessarily make a living from it, I just want a cheaper digger.I already have an agricultural contracting business, so there was very little need for additional administration/registration. It helps that I already have several vehicles and trailers which can transport them to customers. It helps also that we have a fully-equipped workshop and can fix the machines ourselves.
I make a point of hiring without a driver as (according to my insurers) it limits my liability for damage. If I deliver the machine personally, I make sure that the hirer is comfortable working with the machine before I leave.
I don't think I make a huge amount of money from it, but the first machine had already paid for itself several times over. I've toyed with the idea of expanding it and buying newer kit, but then I'd probably be chasing work. I just see it as something on the side.
I am more interested in what insurances I need can you give me an idea?
Thanks for the replies people.
Who was the women in the Essex TVR club, she owns / used to own a plant hire company and had a Sagaris this is back in 05 when they fist came out which was halcyon midas, I briefly met her when the Bristol club went up to Essex for their meet, that was one of the last times I was in a TVR.
Who was the women in the Essex TVR club, she owns / used to own a plant hire company and had a Sagaris this is back in 05 when they fist came out which was halcyon midas, I briefly met her when the Bristol club went up to Essex for their meet, that was one of the last times I was in a TVR.
RT Phil said:
Thanks for the replies people.
Who was the women in the Essex TVR club, she owns / used to own a plant hire company and had a Sagaris this is back in 05 when they fist came out which was halcyon midas, I briefly met her when the Bristol club went up to Essex for their meet, that was one of the last times I was in a TVR.
That would have been Pauline FrostWho was the women in the Essex TVR club, she owns / used to own a plant hire company and had a Sagaris this is back in 05 when they fist came out which was halcyon midas, I briefly met her when the Bristol club went up to Essex for their meet, that was one of the last times I was in a TVR.
Careful who you rent to i guess is the answer.
I own a construction project management company and we get all our plant via groundwork contractors, or the trades that use them - i.e. bricklayers bring their own forks etc. We pay a bit more i guess but cheaper than massive insurance excesses.
We tried a couple of years ago renting a mini digger and dumper for a tiny job we did - as we had a labour only driver available to drive - but most hire firms wouldn't touch us despite good trading/financial results and the promise of adequate insurance being in place. In the end, a 3rd party groundworker hired the kit, and the driver, and we sorted it that way.
I own a construction project management company and we get all our plant via groundwork contractors, or the trades that use them - i.e. bricklayers bring their own forks etc. We pay a bit more i guess but cheaper than massive insurance excesses.
We tried a couple of years ago renting a mini digger and dumper for a tiny job we did - as we had a labour only driver available to drive - but most hire firms wouldn't touch us despite good trading/financial results and the promise of adequate insurance being in place. In the end, a 3rd party groundworker hired the kit, and the driver, and we sorted it that way.
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