A Guide to Starting Your Crane Hire Business
Cranes are a very important part of a construction business, without them, there would be nothing left for the heavy lifting. They help in lifting multi-ton items. They are a vital part in a construction process; many building would remain incomplete if cranes were not there to do the heavy lifting.
However, hiring crane for a construction is completely different to starting a business where you provide cranes for hire. Starting any business requires a lot of capital, an insurance policy and a significant knowledge of the market. Without knowing the market and having a proper plan in place you cannot simply start a business at your fancy.
Things To Remember Before You Start Your Crane Hire Business
- Survey your market – Before you start any business it is very important that you survey the market. It also helps greatly if you have been in the construction business before or know someone from this field. Starting a crane hire business will be very profitable if your city is in the process of development and has many upcoming construction projects. Try to learn about your rival companies and how well they are flourishing. Knowing your competition thoroughly in the market gives you an upper hand in the business.
- Securing the right amount of funds – It is important that you make good connections with banks, capitalists, and industrialists who can help you start up your own project. Try to make allies in the market who will help you provide business. Starting up a crane hire business requires ample amount of space along with insurance, employees and of course a big fleet of cranes that you could rent to the construction companies.
- Building your fleet of cranes – The third step in crane hire business is to of course get a large fleet of cranes which you can give out for rent. You will have to build a brand name that is not only catchy but worth your investment. This will help your business greatly. Before building a fleet of cranes it is important to understand the different cranes that are available in the market.
(I) Static Crane – Tower Crane, Telescopic Crane, Level Luffing Crane, Hammerhead Crane.
(II) Mobile Crane – Crawler Crane, Truck-Mounted Crane, Rough Terrain Crane, Railroad Crane, Flying Crane, Floating Crane. While building your fleet of cranes you need to buy different varieties. Some construction project needs tower cranes when there are skyscrapers to be built while some projects require the use of rough-terrain cranes. The more variety you keep, the more customers you will get and as a result, they would want to hire cranes from you for their construction processes.
- Learn from your business – Every crane hire business is a learning process. After you have understood the need of your customers you can easily invest in more popular equipment. This will help you to expand your business to more places.
- Get your company insured – It is always important to ensure your crane hire business because every business is prone to some sort of misfortune or risk. The last thing you would want when you start off is to get you and your services blamed for something that was a mere accident. It is therefore always advisable to ensure your business to avoid any sort of misfortune.
These are some useful tips to get you started on the crane hire business. Of course, entrepreneurs who have a tight budget and cannot secure the right amount of capital for their business startup can always invest in pre-owned cranes. This will still have to maintain the machines properly and continue the business profitably. When you get your business started up the first thing you want to build is goodwill with your clients.