How To Make Money With a Mini Excavator in 2023 (Complete Guide)
Did you know that mini excavators are one of the most versatile pieces of construction equipment on the market today? Not only can they be used for a wide variety of applications, but they are also relatively affordable to purchase and operate. In this guide, I will discuss how to make money with a mini excavator in 2022.
In this article we are going to talk about:
- Buying vs. Renting a Mini Excavator.
- How to make money with a Mini Excavator
- Buying a Mini Excavator And Renting It Out
- How To Maintain Your Mini Excavator
- Things You Can Do With a Mini Excavator.
What is a Mini Excavator?
A mini excavator, also known as a compact excavator, is a small hydraulic excavator that typically weighs between 1 and 10 tons. It is designed to be highly maneuverable and versatile, making it suitable for a wide range of construction and excavation projects in tight spaces or areas with limited access.
Mini excavators are equipped with a boom, dipper, bucket, and cab that can rotate 360 degrees, allowing the operator to dig, lift, and move materials with ease. They are often used for tasks such as digging trenches, excavating foundations, removing debris, and landscaping.
Mini excavators are popular because of their small size and versatility, as well as their ability to fit through narrow gates or doorways, work on uneven terrain, and operate in confined spaces. They are also generally more cost-effective to operate and maintain compared to larger excavators, making them an attractive option for small construction companies or private individuals.
Buying vs. Renting: How Much Does it Cost to Rent a Mini Excavator?
The cost to rent a mini excavator is around between $200 and $600 per day, which leaves you a lot of room to profit.
When it comes to deciding whether or not to buy or rent a mini excavator, the cost is definitely a major consideration. Let’s take a closer look at both options shall we.
Renting a mini excavator can be a cost-effective option, especially if you only need the equipment for a short period of time. The cost of renting will vary depending on the size and type of mini excavator, as well as the rental company you choose.
Generally, you can expect to pay around $200-$300 per day for a mini excavator in rental cost. So if you decide to purchase a mini excavator, the cost will vary depending on the make and model.
How much does a mini excavator cost? In general, a good middle-range price to expect is $30,900 – $51,700. Some will cost quite a bit more, while others will come in under that number. You may find a great excavator for $28,100. Or you may have to pay over $90,000 for the one you want, all depending on your preferences.
In Florida you can rent a 3 ton mini excavator for $324 a day, $824 a week and $1,700 for 4 weeks. So it gets cheaper over time and that could bring the costs down and make your profit higher.
How To Make Money With a Mini Excavator
There are loads of ways to make money with a mini excavator and I will list them below.
This article revolves around that you know how to use a mini excavator.
But if you don’t know, do not fear, it’s super easy to learn and the smaller excavators are not hard to get used to, play with it for a few hours at home and you will be a master in no time.
Buying a Mini Excavator To Rent Out to People
One of the best ways and maybe the most obvious way to make money with a mini excavator is to rent it out. You can charge by the hour or by the day, depending on your needs.
Mini excavators are in high demand for people who want to do their own projects such as landscaping, construction, and demolition. If you have a mini excavator and are willing to rent it out you will be making a lot of money fast!
Imagine that you rent it out for just 100$ a day for a full year!
That means you will earn 36500$ and if you bought one of the cheaper ones the excavator will be paid off in a year.
But usually it’s not that easy, but if you scan the market and buy an excavator for loads of different jobs you could rent it out for more money and maybe in a few years it’s paid off and you can buy another one!
And if you have a good car with a trailer you could also charge money for driving it out to people. And if you truly want to earn money, call out to smaller companies, host a webpage and offer to rent it out to smaller companies in the industri, they happily pay more because they charge full price to the customers.
Starting a Landscaping Business
If you want to make money with a mini excavator, one of the best and most fun ways to do so is by starting a landscaping business. The landscaping business is a booming industry, and there is always a need for excavators and people who can help maintain yards and gardens.
If you have experience with landscaping, grading with a mini excavator or are willing to learn, this can be a great way to make money with your mini excavator.
But with everything there are a few things you will need to do in order to start your landscaping business. You will need to obtain the necessary licenses and permits. Next, you will need to purchase or rent the equipment you will need, including a mini excavator. And you need customers.
You could of course do this as a side hustle but whatever you choose to do with this excavator money will be pouring in fast so the best you could do is to start your own company.
Helping People With Demolition Jobs
This one might not be so obvious when it comes to making money with an excavator, but there are a lot of people who have tree stumps, concrete blocks, old sheds and much more that they want to remove. The best way to take down these objects is with an excavator.
It will save people a lot of time and people are willing to pay for it.
Snow And Ice Removal
Snow and ice removal is one of the most underrated things that you could use your excavator for. So when winter starts to roll in, it’s getting hard for people just getting their driveways cleared and there are a lot of older folks living with limited access.
This is where the excavator shines, offering to do their driveway for 40-50$ and your machine will have work for the rest of the winter. Not only can you clear their driveway but the longer the winter goes the more they need help to remove the snow when it starts to pack up.
Doing jobs for your neighbors is also one of the best ways to get free commercials. When they see their neighbor getting help from you they will come out asking for assistance with their driveway also!
You could easily do 2-3 driveways each hour and that would make you 800-1200$ for an 8 hour shift.
Dig For a Pool, Do Patio Work or Tree Saw Work.
The last few years we have seen a huge increase in people making pools, building new patios and taking care of their gardens. Never before has there been so much money spent on these kinds of things.
So this is where these mini diggers come in handy. Most people don’t have huge yards so the space is always limited and therefore the mini excavator comes in handy. Don’t be afraid to put up ads in your community facebook marketplace or on your own facebook page. People will definitely tag their friends and family who they think need help and some will ask for what your price is.
Did you know that there are loads of attachments for an excavator?
One of the great things with the excavator is that they have different attachments so if you look into it and you buy the tree saw attachment you could help people with those kinds of jobs also!
The more you can offer the more likely it is that you will have jobs all year around.
Exterior Foundation Footing, Waterproofing And Drainage
One job that the mini excavator shines on is the house drainage and foundation jobs.
Digging around a house usually is really hard and you can have big machinery.
But these jobs are more than common due to how they built the houses around the 60-70-80is without proper drainage.
This kind of work might demand some knowledge so if you are taking on this job yourself and promise to fix it for them be sure you read up on this.
A lot of people look into renting machines for this particular job so always be on the lookout and keep showing the world that you have an excavator to rent out.
Maintain For Your Mini Excavator
Always remember to do maintenance on your mini excavator.
The better ground work you do the longer it will work without problems and it will keep the mini excavator maintenance down!
A good maintenance guide you can use is this one.
But here is a small checklist.
- Follow a routine for maintenance schedule
- Examine the hydraulic cylinders
- Inspect the attachments
- Open the side hoods and look so everything is alright.
- Inspect the water fuel separator
- Check the cooling system
- Grease pivot points
- Examine the engine compartment
- Check fuel levels
- Check the air filters
- Examine the tracks
- Inspect the cabin.
This is something you should do between each rent and it’s good to have a protocol so you notice if something is damaged or taken. This way you can charge extra to the person who rented your mini excavator.
Things You Can Do With a Mini Excavator
A mini excavator is a very versatile tool. That is why it’s perfect to use in construction and demolition projects. Whether you need to dig a trench or move some earth, a mini excavator will get the job done quickly and efficiently.
Here is a list with different things a mini excavator can do.
- Plowing snow
- Digging holes
- Making small trenches
- Demolishing small structures
- Repairing sewer lines
- Landscaping work
- Digging swimming pools or garden ponds
- Plowing snow
- Installing Water Features
- Putting in Pools and Hot Tubs
- Moving earth
- Constructing a foundation
- Pouring concrete
The small size makes the machine perfect for maneuvering in tight spaces.
Pros and Cons
There are several potential advantages and disadvantages to making money with a mini excavator. Here are some of the most significant:
- Versatility: Mini excavators can be used for a wide range of tasks, such as landscaping, digging foundations, and excavating trenches. This versatility can make them a valuable tool for a variety of different projects.
- Maneuverability: Mini excavators are designed to be highly maneuverable, making them ideal for working in tight spaces or areas with limited access.
- Cost-effective: Mini excavators are generally less expensive to operate and maintain compared to larger excavators. This can make them an attractive option for small construction companies or private individuals looking to make money on a part-time basis.
- High demand: There is often high demand for mini excavators, particularly in urban areas where space is limited and excavation projects require specialized equipment.
- Portability: Mini excavators can be transported easily on a trailer or truck, allowing you to take on jobs in different locations.
- Capital investment: Mini excavators can be expensive to purchase, which can be a barrier to entry for some people looking to make money in this field.
- Maintenance costs: While mini excavators are generally less expensive to maintain compared to larger excavators, they still require regular maintenance to keep them in good working order.
- Operating skills: Operating a mini excavator requires a certain level of skill and training, which may take time and effort to acquire.
- Safety risks: As with any heavy equipment, operating a mini excavator carries inherent safety risks. It’s important to take appropriate safety precautions and follow best practices to minimize the risk of accidents and injuries.
- Seasonal demand: Demand for excavation services may be seasonal in some areas, which can affect your ability to make a consistent income throughout the year.
A Mini excavator is probably one of the best machinery you can buy to start making good money. If you decide to rent or buy one depends on your budget but one smart thing would be to try to book a few jobs and then rent the machine and do the jobs. That way you are sure to cover the expenses of renting and it’s easy to calculate if you will make some profit.
If you like this guide I can recommend reading my guide about What Equipment Can I Buy To Make Money? Here I talk about 27 different tools that can help you to earn money and start your next business.
Did you know you could make money with a wooden lathe? Here is a guide!
I hope this article about How To Make Money With a Mini Excavator have answered all your questions.
If you have you rented a mini excavator before,have experience with renting or been using it for work leave a comment and tell us about it.