How to Start Your Own Crane Rental Business

Cranes are like the industrial dinosaurs of the 21st century – they hang over construction sites, looming, swiveling and lifting multi-ton items. Indeed, cranes are a vital part of the construction process – without cranes many buildings simply wouldn’t get built. However, simply remarking on cranes is one thing, but actually starting a crane rental business is another thing altogether. Some cranes have the capacity to lift over 20 tons, which means that the crane itself has to be heavier. Starting a crane rental business requires significant capital, knowledge of the market and a big insurance policy. Are you still ready to start your own rental crane business? Here is how to start your own crane rental business.

First, you need to survey the market. It also helps if you have been in the construction industry and if you have a finger on the pulse of the industry. When it comes down to it, it may only be smart to start a crane rental business if your community or city needs one. There may also be the case where your city or community already has a crane rental business that construction companies are not happy with. This is a great opportunity to jump in and take a corner of the market.

Also, it is important to have the capital you need to start a crane rental business. You will need at least a million dollars to start your crane rental business. If you think about it, there are many costs included in starting and running a crane rental business. For instance, you need insurance, space, employees and, of course, a fleet of cranes. So, it is important to meet with and strike deals with venture capitalists. These venture capitalists will be able to give you the money upfront in exchange for some kind of percentage in the company.

Next, you need to start building your crane fleet. What is a crane rental company without a fleet of cranes? Indeed, a crane rental business is not much without a fleet of quality cranes, which is why Bigge Crane and Rigging is probably the best dealer of large cranes for industrial and building purposes. When it comes down to it, you want to go with a name brand, because this will not only ensure that the cranes will last and that your investment was a wise one, but also because you want to offer construction companies quality cranes for their building purposes.

Lastly, you want to have your crane rental company insured. This is a crucial process of starting a crane rental company, because you want to be able to protect your business, assets and your worker’s livelihoods. It is very rare that anything should happen – mainly because of how safe and secure cranes are – but you always want to be safe and not sorry. When it comes down to it, it could be a crane operator’s fault if anything does happen, but the last thing you want is for your company to get blamed. So, be sure to take out a premium insurance policy – just so your company is totally protected.