Renting a mini excavator more than 36 times a year? Buy one, make an extra $100-$300 a day in profit.
In the world of construction and landscaping, efficiency and cost-effectiveness are of the utmost importance. One piece of equipment that stands out for its versatility and potential for high returns is the mini excavator. Alongside its attachments, such as buckets and other tools, a mini excavator can be a game-changer for businesses looking to maximize their return on investment (ROI). Today we'll delve into the factors that contribute to the impressive ROI of mini excavators and examine how they can benefit and grow your operations.
To Rent or To Buy?
There are a dizzying number of brands, models, sizes, and configurations of mini excavators available on the market which can make choosing the best one for your job a challenge. The first major consideration in getting a mini excavator on your job site is whether to rent or buy.
Renting a mini excavator typically makes the most sense for a short job that you can get the machine in and out of quickly and keep your rental costs down. Renting can be more economical over a short period when compared to ownership, but if a job stretches on, the rental fees will grow and eat away at your profit margin. Another consideration is the variety of work you do. If you need varying sizes of machine depending on the job, it may make sense initially to rent as to not tie yourself down to one machine. Conversely, if you find yourself renting the same machine time and time again, it almost certainly would benefit you to take the ownership route.
The Cost of Renting a 1-Ton Mini Excavator (exclusive of tax)
Below is a breakdown of the rental costs, not including taxes, fees & delivery, of the above-pictured 1-ton mini excavator equipped with a single standard digging bucket.
Rate | Cost | Number of Rentals | Cumulative Cost | Total Days | Cost/Day |
Day | $339 | 36 | $12,204 | 36 | $339 |
Week | $1017 | 12 | $12,204 | 84 | $145 |
Month | $3051 | 4 | $12,204 | 120 | $101 |
As you can see, it takes between 36 and 120 days of use on this machine for the cumulative rental cost to reach $12,204 before taxes, fees, & delivery.
The Cost of Owning a Mini Excavator
Now that we have an idea of the cost to rent a mini excavator, let's see what the cost is to own the same-sized M1T mini excavator.
Right now you can purchase an M1T, equipped with boom swing and a standard digging bucket for $11,995 plus taxes and delivery. That's roughly the same cost as 36 single-day rentals, 12 week-long rentals, or 4 month-long rentals.
To be clear, if you are renting a mini excavator regularly, you could buy one and within a year it would add between $100 and $300+ per day in profit to your operation. The upkeep on an M1T is minimal as it is extremely simple & reliable. Any work that does need to be done to it is easy for anyone with a basic mechanical understanding to undertake and does not require specialized technicians. We stock all parts locally and are always available for customer support.
Maximizing ROI with the Right Configuration & Attachments Investing in the right attachments is crucial to fully leverage the ROI potential of a mini excavator. That's why we offer the M1T as a package including a hydraulic thumb, quick hitch, Briggs & Stratton power unit, 3 buckets, & an auger for just $14,995. This is everything you need to maximize the value of your M1T purchase and turbocharge your ROI.
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