Dump trucks are used for various activities and for different industries that need large quantities of materials delivered or removed from their property. Starting a dump truck business is easier if you have your own truck to start off with, but you can still start a business with the right financial backing and knowledge of the business.
How to Start and Run Successful Dump Truck Business
The Dump Truck Business Plan
- More than likely you will need financial help to start your business. Developing a well-organized and detailed business plan will help immensely when you are looking for financial backing.
- All of your financial records for at least the last five years should be included in the business plan. Be sure to add bank statements, tax returns and any paid or outstanding loans, equities and other assets that you have or have had over the past five or more years.
- Make a detailed list of itemized costs you expect. This includes purchasing inventory such as trucks and office equipment, insurance premiums, employee payroll and insurance and so forth.
- A detailed marketing strategy that explains the plans you have for advertising your company will let potential investors see how your customer base may grow over time. It will also act as a guide and reference for you to follow as well.
- Most potential investors will want to see a projected accounting of what you expect your profits and costs will be over the next five, ten and even fifteen years. Be sure to back up your estimations with proper documentation.
Starting the Dump Truck Business
- If you do not have any trucks, you will need to purchase at least one to get started. Check the local newspapers and truck magazines for truck sales and equipment. Go to trucking events to see what types of trucks are being used the most. Attend auctions and other functions where you may be able to get a great deal.
- Procure the funding you need to start up the business. Search online for government grants and other types of loans that may be able to assist first time business owners.
- Research your competition to see what types of contracts they have, how much they charge for particular services and their turnaround time for completing jobs. Use this knowledge to improve your business so that you can be more competitive in the market.
- Visit local businesses that will have a need for your services. Make yourself known to them while discovering their needs and rates they are willing to pay. Find out who they are currently using to see if you can compete financially and in the turnaround time to complete their jobs.
Marketing Your Services
- Have a well-developed, professional website created. Include pictures of your dump trucks as well as contact information so that customers may get a hold of you easily. Consider having a quote option on the website that customers can fill out the information letting you know what they need and receive a quote for their request.
- Bid on government and other city and state jobs to gain more customers.