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Is the excavating business even worth getting involved in

Discussion in 'Heavy Equipment & Pavement' started by Gravel Rat, Dec 18, 2010.

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  1. zabmasonry

    zabmasonry LawnSite Senior Member
    from C. VT
    Messages: 315

    GR why don't you go take a couple of community college business courses and actually learn how to make a business plan. If you feel that there is a market need, then write a business plan, and see if you can get financed.

    You ain't going to be successful and end up a big player if you start out flying by the seat of your pants. Its really not that hard to figure out if the need exists, you just have to know how to do it.

    If you want to do this, it sounds as though you need to move to a new area, if that isn't a reality then you will need to figure out how to make it work.

    You say that many contractors in your area are teetering on the brink, well then why don't you go get a liability and tool insurance policy and rent from the guy's who are "barely staying above water" that would benefit both of you. You could perhaps buy one of there machines instead of a dealer's machine. this would actually benefit you, as you would be effectively buying your competition, IE the number of machines in the area wouldn't change, instead of you increasing competition (therefore driving down price) by buying a machine.

    Lastly if you want to be in business, you need to grow a pair, and take the risk. Owning any company is high stress, but I think that earthworks is particularly stressful. There will be ups, and there will be downs. you just gotta learn how to deal with it.
  2. bobcat_ron

    bobcat_ron LawnSite Fanatic
    Messages: 10,131

    "Ask your Daddy, he's getting hammered at the bar in the basement, momma needs another baby tonight, and daddy's getting his engine warmed up". :laugh:
  3. Junior M

    Junior M LawnSite Fanatic
    Messages: 13,581

    Do not do it.
  4. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Messages: 9,544

    As for what my familly they are in the same position as everbody else try stay in business or shut down and retire. My famillies business just lost a 20,000 dollar contract because of the gov't and their over regulation.

    I have a chance to get my foot in the door in the excavating business starting with a mini excavator. Stay small scale and use a 10,000lb mini to do small jobs, the landscaping side of things is still looking good if the million dollar crowd keeps spending the money.

    The work for fullsize excavators (16-20 ton) machines isn't out there the market is dead. The days of clearing building lots and digging foundations is over with, it will put most of the excavation contractors out of business. For the work currently available the biggest machine you need is a 8 ton Midi excavator.

    I really want to get something started in 2011 the Liberal gov't has really stirred up a real mess with the company I work for. Things are not going to be looking good next year, time to get out before things get ugly.

    It is the finance companies that keep kicking me in the n*ts they are the ones holding me back from getting something done.
    Last edited: Dec 18, 2010
  5. bobcat_ron

    bobcat_ron LawnSite Fanatic
    Messages: 10,131

    That's what I was wondering about, maybe it's fate? :confused:

    Maybe a force bigger than anything is trying to tell you not to do it?? :confused:
  6. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Messages: 9,544

    We have a company that is called Community Futures that works in this province that loans money to small businesses. The deal with them is you have to be un-employeed or already self-employeed. I would have to quit my full time job I don't want to do that.

    I know how to operate a business on my own I have been self-employeed for years, I should have did things legally when I first started 16 years ago. If I did then I would have history on how much money I have made over the years.

    Right now if I can work both jobs it is the way to go, there isn't quite enough work to make a living mini excavating it will be that way for a few more years.

    All I'am after right now is get a foot in the door this area will see a shortage of contractors in another 1 to 2 years and it won't be a small shortage.
  7. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Messages: 9,544

    I have to do something I need a job that I can have my life back and control my own future. You give up your life when you work for who I work for the only time you get your freedom when you retire.
  8. WorldsStrongestLandscaper

    WorldsStrongestLandscaper LawnSite Member
    Messages: 243

    I own a 2006 Terex HR-18 w/a thumb 1060 hrs on it. 06,07,08=900 hard hrs,09,10=160 hrs and 3000$ in breakdowns(tracks,hoses). I used it on the 20 wall/walk/patio jobs we had total for the both yrs! And to cave and fill in 2 inground pools .I couldve sold it for 25,mabey 30,000 10 times over already, but I know I'll never get a chance (or want to) buy ever again with the banks at 15% or higher with default at 30%! So I kept it and I just look at it sitting there along side my 40,000$ Salsco chipper and my 50,000$ tractor with all the attachments (all pd for). I see it comming in handy one day down the rd! So as far as getting in the business right now, Do u have a CDL? You will need one if u get a decent sized machine! Do u have a big enough truck to pull it? Can u afford 200$-300$ to transport it back and forth or 5-10000 to buy a new/used trailer? Do u plan on purchasing insurance?(I hope so) Are u willing to just stare at it and watch it collect rat crap? Do u live home with your parents,have no kids,and are very skinny(no $ for food)? If u can answer yes to all of these questions then go ahead and grab your kahaunas and go for it! If you doubt yourself ,then stay where you are and save more $! As far as those older guys,beware of old shabby dressed dirty guys, they seem to have the most cash on hand! They've been through this ressesion atleast 2x's b4! They play the I'm so poor ,I owe on all my equipment game ,when in fact they have the most experience and will b hired again soon enough!Becareful!BIG STEVE B CT STRENGTH WSL
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  9. zabmasonry

    zabmasonry LawnSite Senior Member
    from C. VT
    Messages: 315

    I strongly doubt this, My guess is that they, or others in the area, definitely have programs to work with the two groups you mentioned, but will work with anybody why comes to them with a good honest proposal. In fact I'm sure that you can find somebody to help you make a business plan.

    They aren't loaning to you because you have no other assets, and likely aren't bringing them a business plan to convince them that you can succeed.

    You obviously don't know how to operate a business on your own seeing as you've been supposedly doing it for 16 years, but have nothing to show for it.

    As long as you insist that you know everything, and everybody is just out to get you, success will never come your way.
  10. wellbuilt

    wellbuilt LawnSite Senior Member
    Messages: 275

    GR , just jump in the water and start paddling with the rest of us.
    Break a move !
    Buy a mini and start running it .
    If it ends up sitting you can always sell it .
    Your monthly payment will be like a bar tab .
    One of my guys drops 125 a week on smokes .
    Its time to spend
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