{"id":3137,"date":"2023-08-15T05:36:04","date_gmt":"2023-08-14T20:06:04","guid":{"rendered":"https:\/\/www.yelloequipment.com\/?p=3137"},"modified":"2024-09-19T15:06:42","modified_gmt":"2024-09-19T05:36:42","slug":"how-profitable-is-it-to-own-an-excavator","status":"publish","type":"post","link":"https:\/\/www.yelloequipment.com\/au\/how-profitable-is-it-to-own-an-excavator\/","title":{"rendered":"How Profitable Is It to Own an Excavator?"},"content":{"rendered":"

When working in construction, you may find yourself needing an excavator more often than you think. When your excavating needs become more frequent, you may want to consider owning an excavator instead of renting one. But how much does an excavator cost per day to own? And are there sufficient opportunities to run a profitable mini excavator business?<\/p>\n

EXCAVATOR USAGE AND COSTS<\/h2>\n

The main reason owning an excavator might be more profitable than hiring one is to avoid the costs each time your business needs this type of machinery. Of course, it all depends on how much you are spending to hire an excavator, which changes from one state to the next. Excavator hire, on average, can cost between $220-$520 per day in NSW<\/a>, depending on the brand, age, and size. This quickly adds up if you need to use an excavator daily.<\/p>\n

It\u2019s also important to note that a well-maintained excavator should have a lifespan of around 10,000 hours, so you need to consider how long you need to rent an excavator for each job to gauge how long it will last.<\/p>\n

You will have to do some maths using your own data, such as how much your current rental company charges, how often you rent an excavator and the cost of ongoing service and maintenance should you buy one. If you use an excavator frequently, the costs will likely stack up to own one. In the long term, owning an excavator can remove having to pay for continued hiring costs over the years, which in turn can remove any unnecessary hassle with scheduling hires.<\/p>\n

HOW TO START AN EXCAVATION BUSINESS<\/h2>\n

There is another benefit when you own an excavator instead of hiring one. You now have additional opportunities to make money by hiring your excavator out when it isn\u2019t required \u2013 a bit like having a mini excavator business. Contracting your excavator and operators to other companies needing this equipment become potential one-off jobs, generating additional work and profits on top of your core business.<\/p>\n

Here are some examples of how to make money with a mini excavator from contract work:<\/p>\n