Today, there are many different ways that you can make money. One of those ways is by starting a dump trailer rental business.
Renting dump trailers to other people is a way that you can meet the needs of people in your area.
By owning dump trailers, you can also use them to do various jobs that customers might need.
Below is a full explanation of the dump trailer rental business so you can see if it’s a good fit.
What is a dump trailer?
A dump trailer looks like a wagon of sorts that you can hook onto the back of a pickup truck or other vehicle.
It is like a flatbed trailer in that it doesn’t have a top, but it does have sides that come up a few feet all the way around.
This is done so you can load goods onto it such as sand and other materials that might run the risk of falling out of a flatbed truck.
Many recycling businesses utilize dump trailers as well to transport material.
In addition to the actual construction and size of the trailer, dump trailers have a hydraulic system on them that allows them to tilt from front to back.
This is done so that you can easily offload whatever you’re carrying in them onto the ground or onto a pile.
This is, of course, what makes a dump trailer unique as compared to a regular trailer.
Depending on the items that you are hauling to make money with dump trailers you wouldn’t have to unload them manually onto the trailer using wheelbarrows and other means.
You can simply use the hydraulic system to dump the items onto the ground once you’ve reached your destination.
Tactic for Success
Before you buy a dump trailer, you want to have a good understanding of what it is that you will be hauling — or what your customers will likely be hauling. This will help you determine the type of trailer you should buy and how big it should be. There are a lot of options, so do your research.
What is a dump trailer used for?
There are a lot of different uses for a dump trailer. It’s an extremely versatile piece of equipment that can be used in many different industries.
This is one of the big reasons why dump trailers are so popular as rental equipment.
People can use a dump trailer for:
- Landscaping Projects – You can easily unload materials such as soil and mulch into a specific area, rather than doing it one wheelbarrow load at a time.
- Repairing Driveways – If you’re repairing or laying a new driveway, you’re going to need a lot of materials laid on the ground. A dump trailer does a lot of work for you.
- Remove Garbage – If you have garbage you need to get off your property, a dump trailer can help you do it without requiring you to unload it manually at the dump.
- Heavy Loads – You don’t need to dump materials for it to be useful. It’s great at transporting items like you would on a flatbed but with sides all around to protect sliding.
There are some advantages and disadvantages to renting dump trailers, though.
Trend on the Rise
The demand for rental trailers continues to rise each year. From 2019 to 2020, the overall market grew 6% in North America alone. More and more people are renting trailers each year to do projects on their own, meaning it’s a great growth business to get into.
Can I make money with a dump trailer?
You can definitely make money with a dump trailer rental business. There are many ways you can become profitable, so figuring out what specific ways work best for you is really up to you.
Unlike some other types of businesses, there is a lot of flexibility in how you can make money with a dump trailer.
Tactic for Success
Marketing is a key to success no matter what industry you’re in. If you’re renting dump trailers, though, it’s even more important to your long-term success. Some people may not be familiar with all the things they could do with a dump trailer, so give them ideas of the projects they could take on if they rented one from you.
If you start small, it could be a startup under 10k.
So, if you are in the truck or trailer rental business already — or if you’re in the hauling business — you could consider purchasing some dump trailers to add to that business as a second revenue stream.
As mentioned before, there is a very strong demand for people who need to rent trailers.
As the cost of many goods continues to increase every day, more and more people are trying to take on projects on their own. It’s a great way for them to save money, after all.
However, one of the big downsides of doing this is that most people don’t have the vehicles that can haul the goods that bigger projects require.
Their options at that point are to either hire an outside company to do it for them, or rent a dump trailer to do themselves.
The latter is cost-effective, and where you can capitalize. The more profitable your company is, the easier it is to sell your business later.
Trend on the Rise
The DIY (or Do It Yourself) “industry” is on the rise. Nearly two-thirds of all millennials try DIY projects, with only 27% hiring professionals. This generation is relying on online tutorials and YouTube to teach them how to do projects, creating an even bigger demand for dump trailer rentals and similar vehicles.
Ways to Use Your Dump Trailer to Make Money Directly
In addition to renting dump trailers, there are other ways that you could make money by owning a fleet of dump trailers.
In essence, you could take on the projects that people would do themselves if they rented the trailer from you, and then charge them not only for the price of the trailer, but the time and effort you put into the job itself.
There are a few different ways that you could go about finding customers for this.
First, you could market your services directly to customers through digital and traditional channels.
Second, you could partner with local small businesses such as landscaping companies to do their dump trailer work for them so they wouldn’t have to purchase the trailers themselves.
Or, you could drop your business card off at local hardware stores or supply shops as a referral, or even work with a lead broker.
As their customers come in to buy products for their next jobs, the store clerks could hand them your card as a way to help you attract customers.
What You Need in a Dump Trailer
On average, dump trailers will run anywhere from $8,000 up to $10,000.
It’s a big purchase and investment, for sure, so you want to make sure that you’re purchasing a trailer that has everything you need — and that will give you the biggest return on your investment.
Some things you consider when purchasing a dump trailer include:
- The Size – Dump trailers can be 8 feet all the way to 30 feet long. Try for something in the middle, about 14 feet.
- The Frame – You can go with either an I-beam or tubular frame for your trailer. The latter is the strongest but also the most expensive.
- The Finish – You can opt for a paint job on the trailer, but if you get a galvanized one, it’ll help resist rust better, which will help it last longer.
- The Lifting Mechanism – Most manufacturers will choose a scissor lift system for the hydraulics, for many different reasons. But, weigh the pros and the cons of each type first.
How profitable is a dumpster business?
A dumpster business can be very profitable, if you’re running your business properly.
In as little as a few months to a year, you could easily recoup your initial investment into the dump trailer itself.
What it takes is proper marketing of dump trailers in general and/or partnering with the right businesses to gain contracts.
You want to have a good idea of what you want to do with your business before starting it, as purchasing dump trailers is not cheap.
If you’re thinking of creative ways to make money, you can take advantage of the trends in vehicle rentals and the DIY market to start a dump trailer rental business.
There are many different uses for dump trailers, which is why there are so many different ways to make money.