Recent reports indicate that the construction industry is in dire need of skilled laborers. Here…
Once you get your qualified as a heavy equipment operator, and once you have several years experience under your belt, you may want to buy your own piece of heavy equipment and work as a sub contractor. That is quite possible but there are many pitfall to such an undertaking.
The first problem you will face is simply getting the work. There are times when you can submit a tender, however generally speaking you will need to apply directly to building contractors for work. The only way to secure any regular contracts is by building contacts. You will need to get your name out there as a reliable heavy equipment contractor – reliable in getting the job done, reliable heavy equipment and reliable in reporting and getting the paper work done.
The second problem you will need to consider is the lack of income during quite times or when your heavy equipment is ‘off the road’ for maintenance or repair. You need to learn to put aside in the ‘good times’ for the ‘bad times’. You also need to have a contingency plan in place in case your heavy equipment breaks down part way through a job. In these circumstances, you may well lose money (if you have to hire a vehicle), however your reputation is just as important and often worth the loss – you just need to be prepared for these events.
The final problem relates to the admin side of things. Most outdoor workers have little knowledge of bookkeeping and related issues. Can you produce invoices and statements when they are due. Can you manage your finances to cover heavy equipment loan payments, insurance, fuel and maintenance? Can you chase up outstanding payments without upsetting contractors (you may need them for future work)?
These are all issues that need to be considered when establishing your own heavy equipment business. And I have only touched on some of the issues. Other issues such as taxation and licensing also need to be considered. Compare all this to simply working your job and collecting a regular pay check. It is up to you and the rewards can be great when you are your own boss – just be sure to check it all through thoroughly.
Why not look into a heavy equipment school today and start on the road to self employment?