How Profitable is it to Own an Excavator?

With construction work, you may find yourself in need of an excavator more often that you anticipate. When this starts to become more and more frequent as you finish one job and start another, you may consider the option of owning your own excavator instead of renting one.

Usage and Costs

The main reason getting your own excavator may be profitable is to avoid hiring costs when your business is in need of this piece of machinery. Excavator hire, on average can cost around $220-520 per day in NSW, again depending on the brand, age and size. It’s also important to note that an excavator that is taken care of should have a lifespan of around 10,000 hours, so take into consideration how long you generally take when you rent an excavator for a job.

You will have to do some maths using your own data such as how much your current rental company charges, how much you rent from them and how much service and maintenance will end up costing. If you use an excavator often enough to justify it, you should be set. In the long term, owning an excavator can get rid of having to pay for continued hiring costs over the years, which in turn can remove any unnecessary hassle with scheduling a hire with companies.

New Opportunities

What’s great about owning your own excavator, is that you now have additional opportunities to make some money other than just not having to hire an excavator. Contracting opportunities where other companies are in need of excavators and operators can now be potential one-off jobs for some extra work and profits.

Some examples of contract work you can do with an excavator is:

  • Preparing land for construction work
  • Unloading and loading work
  • Clean up work
  • Digging holes for ponds
  • Mining

There is even the opportunity for you to rent out your excavator on the days it isn’t being used, meaning you can make money without actually doing anything! This of course comes with its own benefits and risks, so have an in depth look into this if it’s something you can see yourself doing.

Things to think about

It’s important to think about all the possible costs involved with owning an excavator to ensure it lasts a while and is as reliable as the day you bought it. For one, regularly scheduled excavator maintenance is something you will have to make sure is done by a mechanic to check the vitals for any issues. This way you can avoid any nasty repairs that may crop up – another major cost involved with upkeep of your excavator. You’ll also need to perform a routine check yourself each time you use it, so get up close and personal with your machine and understand how each part looks and operates.

Size is a factor you will want to evaluate as well. What size excavator is best going to suit your needs now and long term? We have mini, small, medium and large excavators in stock, so there is plenty of variety to choose from.

Finally, one last aspect of excavator ownership you will need to think about is whether you have the necessary training to operate the machine. It’s likely that you already have training since you’re considering buying a machine, but if other employees aren’t trained, this is valuable time and money to get them up to speed with it.

To summarise, getting an excavator can be a fantastic, profitable investment – provided you are getting enough work that requires it being used and that you are prepared to pay the maintenance costs.

Excavators are a great asset to any contractor, construction team or business, so evaluate your needs and get in touch with us to take a look at our excavators. We have brand new SANY excavators for sale in mini, small, medium and large sizes, as well as high performing used machines.