Does the idea of starting a dump truck business interest you? It is a profitable venture since construction companies always require trucks for collecting and supplying materials from their sites.
Starting a dumping business involves various costs. However, the primary one is buying a truck, which you should do after considering your financial situation, budgetary constraints, etc.
An efficient vehicle will ensure the timely delivery of materials, leaving your clients satisfied. Gradually, you will start attracting more clients.
Here’s some information on the topic, including how much is a dump truck and others that you will find helpful before making a decision.
Should you buy new or used trucks?
You have two options for buying trucks: new or used ones. It is better to buy new ones since you will receive them in top-notch condition.
Buying a used truck will be your only option if you cannot afford a new vehicle. While you could buy one, it is necessary to check various things like body, tires, frames, rails, axles, hydraulic lift cylinder, and components.
However, the costs of a new dumper will be considerably more than an old one.
What is the cost of a dumper?
The specific cost of a truck will depend on various factors like its model, make, year of manufacturer, and features. However, you should expect to pay between 100,000 USD to 200,000 USD. But that is just the cost of the vehicle itself.
Some information on associated costs
You should also consider the owning and associated costs before buying a dumper. Here are some of those.
For example, dippers can cover about six miles on a gallon of fuel. These are large vehicles and require a significant amount of fuel for running.
One option is to find fuel-efficient models (which cover more miles using the same fuel as others). The average cost of gas in the USA, as of 2022, is 2.83 USD a gallon, an increase of 37 cents from 2021.
Tires are another considerable investment that you must think about. Since dump trucks cover rough, uneven, and rough surfaces, the tires must be extra thick and tough to handle the extra pressure. Naturally, the enhanced efficiency comes at a cost.
You can expect to pay 1,000 USD for each tire of the vehicle. Semi-trailers would cost you approximately 10,000 USD, while the price for standard tri-axle models is 6,000 USD.
Insurance is mandatory when you are buying a dumper. It will provide your business financial protection in case one of your trucks meets with an accident during one of its deliveries.
There are various types of insurance options in the USA for dumpers, but you should choose coverage according to the size and scope of your business. You could consider coverage options for fire and theft, physical damage, collision, motor truck general liability, and rental reimbursement.
These will inevitably be more for used trucks than new ones. However, some that you will face with all vehicles are deep cleaning the interiors, issues with the engine, regular cleaning, track adjustment, and ensuring an efficient hydraulic system.
You must invest only after being clear about how much a dump truck is, associated costs, and other details. Since buying a dumper is a significant investment, it helps to do extensive research before deciding.