Do you have a truck and a trailer and are looking for a way to make some extra money? Starting a dumpster rental business might be a great option for you. A dumpster rental business involves dropping off a roll-off dumpster on site, allowing it to be filled with waste, and then picking it up and taking it to a dump site. While this business can require a significant upfront investment, it can also provide a steady stream of income once you're up and running. Here's what you need to know to get started.
Qualifications Needed
To start a dumpster rental business, you need to be a decent driver of a truck and trailer, or a large truck. However, you'll also learn as you go, so you don't need any formal qualifications or training. It's important to be organized, punctual, and communicate well with your customers.
Start-up Costs
The start-up costs for a dumpster rental business can range from $20,000 to $100,000, depending on if you go the trailer route or buy a dedicated truck, and if you can find decent used equipment. While this is a significant investment, you can expect a good return on investment if you market your services well and provide excellent customer service.
Hidden Costs
The primary hidden cost of a dumpster rental business is dump fees. These fees can fluctuate, so it's essential to keep an eye on them and adjust your pricing accordingly. You'll also need to be sure to tell your customers to avoid dumping concrete unless you are told ahead of time. Some people try to hide concrete in the bottom of the dumpster, which can make your dump fees much higher.
Potential Earnings
The potential earnings for a dumpster rental business can range from $400 to $1000 per rental, depending on the size of the dumpster. If you allow customers to dump their concrete, you can charge accordingly for the weight, which can significantly increase your profits. This can become a completely passive business if you hire people to run it, and have drivers to deliver.
Your Customer
The largest customer base for a dumpster rental business is contractors. They need to get rid of the materials they remove during their work. This can be contractors who remodel, roofers, demolition contractors, and pretty much any contractor that generates extensive waste. In addition to contractors, regular homeowners either cleaning out an area or doing their own construction work can also be potential customers. It's also essential to build relationships with cleanout companies that rent dumpsters all the time.
Scalability
The dumpster rental business is very scalable. You can keep getting more and more roll-off dumpsters, and once you can't handle it all with one truck, get another truck or trailer. You can also use these roll-off dumpsters like a dump truck to pick up materials such as stone, dirt, sand, and other stuff for customers and deliver it to their site.
Other Ways to Make Money
In addition to renting dumpsters, you can also use them to pick up and deliver materials for customers, making your business more versatile. You can pick up materials like stone, dirt, sand, and other stuff for customers, deliver and dump it on site.
Website Required
While not necessary, having a website can help customers easily find and learn more about your business, including services offered and contact information. A website can also include an availability calendar and provide a platform for showcasing previous work or customer reviews.
Advertising/Marketing
Networking and talking to as many contractors and cleanout companies as possible is an excellent way to market your business. You can also utilize all social media platforms for videos and pictures of your work to reach a wider audience.
Equipment needed:
Roll off dumpsters. For delivery you can either use trailers with a pickup or buy a dedicated truck.
Staff required: You do not need any to begin with, you can handle everything. As you scale, you’ll need other drivers and possibly an office person to take calls and arrange schedules.
Keys To Success:
Be organized. If you plan well, you can pick up a dumpster, dump it and bring to the next location instead of bringing back to your place then back out again.
Additional Resources:
Start A Dumpster Rental Business - https://amzn.to/3w5UNMC
Conclusion: Although this is very expensive to start, once it’s started it’s not that much work. You just deliver things where they need to go, pick up and dump. You can run this by yourself, and as you get more calls you can scale it up. This can also be set up to be entirely passive. You hire a driver and an office person to handle everything.
For more great Side Hustle ideas, check out the book -
Comments