How to Make Money With a Skid Steer (25 Best Ways & Tips)

You can surely learn how to make money with a skid steer after reading this very comprehensive yet helpful article. It shows dozens of tips and ways that really work.

 

Importance

The old axiom about the right tool for the right job is true is just as true today as it was one this statement was first presented.

In other words, if you have a nail that needs to be pounded into a piece of lumber, you don’t use a screwdriver or a wrench, you use a hammer.

The side of that right tool for the right job is the side of the coin that states that not only the right tool for the right job but being taught how to use that tool.

For example, if you have a power drill and don’t know how to insert the right bit into the tool, don’t properly recharge the tool, or don’t use some of the features that are available can make the job more difficult.

More sophisticated tools that can be effective and facilitate the ease of accomplishing the task at hand are heavy-duty construction pieces of equipment.

Examples could include a backhoe, tractors, jackhammer, etc.

Another versatile piece of equipment that can, with ease, address a number of tasks that can be accomplished with all of the heavy lifting being done by the equipment.

That piece of equipment is known as a skid steer.

Let us climb into the cab of a skid steer, power up the engine and run this heavy-duty piece of equipment through his paces, and discover ways that we can make money.

 

25 Best Ways & Tips to Help You

 

1. Know all about what a Skid-Steer is

The skid steer is a compact construction vehicle that is utilized for a number of different working projects.

The name of the skid steer is derived from the way it turns when performing these various jobs.

The wheels or the angle of the tracks are fixed so that the skid steer only points straightforwardly.

The wheels are locked on the side of the vehicle and are in synchronization with each other and have their own separate engines.

The bottom line is that each side has to be steered independently from the opposite side.

 

2. What a Skid-Steer Does

Skid steers can perform a number of tasks as it relates to a variety of jobs that needs to be done.

Some of those tasks can include:

• Demolition work
• Road work
• Snow and trash removal
• Excavating and trenching and digging
• Backfilling and Grading
• loading
• Various Landscaping duties
• Agricultural work
• Handling material

 

3. Benefits

The skid steer is manufactured in three sizes with those sizes being small, midsize, and large.

The smaller size is designed for working in tight spaces while the mid-size, although still fairly small and light, gives more power and capacity and is an excellent digging tool in tight areas where a larger piece of equipment is unable to maneuver.

Finally, large skid steers are utilized for heavy-duty applications like large demolition projects.

 

4. Operating

As with any piece of equipment, it is important that the proper training is provided so the individual operates safely not only with the work being done but in maintaining their own safety.

The best way to be trained is to have an experienced teacher teach you the ins and outs of operating a skid steer

Also, you can take advantage of any local courses that might be offered by a dealership.

 

5. Start a Business

One of the best ways to earn money with a skid steer is by operating a skid steer business.

If considering this option, it is important to know what the customer base is in your geographical area and whether there is a need for this provision of services.

This can be best accomplished by doing your research on the area in which you live, to see if there are other businesses that offer the services that operating a skid steer can provide.

 

6. Business Plan

If considering the opening of a skid steer business, the first important and critical action step to take is to formulate a business plan.

The business plan should be the writing down or capturing of your vision and goals and mission if you plan on starting this type of business.

Also, the business plan should include marketing research, number of employees, a SWOT analysis (strength weakness opportunity threat), and more.

 

7. Budget

An important part of the consideration and starting a business is to formulate a budget.

The budget should be the listing on the expense side all of the costs that would be associated with running this type of business.

 

8. Startup Costs

Separate from the budget with being the money that is needed to get the business up and running.

Examples of those costs would include the initial investment in the equipment needed, buying or renting, securing of office and storage space, necessary obtaining of permits and licenses, any legal fees associated with the formulation of the business into the business model selected, purchase of insurance, etc.

Startup costs would also include any needed equipment such as a truck and trailer to transport the skid steer from job to job.

 

9. Overhead

A separate budget would be the operating budget which would clearly outline the anticipated income and the expenses associated with starting this business.

Potential line items could include the purchase or renting of equipment (monthly payments), employee costs, insurance premiums, renting or buying of a facility, and more.

The income side of the budget should include anticipated profits, rental or work fees, and another possibility of other streams of revenue.

 

10. Banking

When considering the starting of a business, it is also important that your banking strategy is part of the process.

It is never a good idea to mingle your personal finances with your business finances as it can murky the waters as it relates to taxes and showing profitability in your business.

 

11. Tracking Finances

In order to properly capture the finances of the operation, it may be a good idea to invest in a software package that will allow you to do the bookkeeping.

A good bookkeeping package will not only allow you to list the credits and debits but give you the ability to generate a number of reports.

The report reports generated by the software will be able to provide you with the needed documentation to determine the health of the business, profits or losses, keep track of inventory, generate invoices, capture accounts receivable and payable, etc.

You could outsource the work to a bookkeeping freelancer who can provide these bookkeeping services for you on a remote basis, and you would not have to use them as an employee.

Also, the software can be purchased or can be a cloud-based program.

 

12. Contractor’s License

Obtaining a contractor’s license is not an absolute must but it is most likely a good strategy as it relates to thinking long-term rather than just in the short interim.

There are many associated benefits to obtaining your contractor’s license.

Some of those advantages would include:

• Obtain business from customers
• Easier to get loans and insurance
• Some jobs require that the owner have a contractor’s license
• When you expand and need to employ others you will need a contractor’s license to avoid liability
• Having a contractor’s license equates to charging more for your services

 

13. Buying New

One of the options that you can exercise when buying your equipment is to buy new.

When considering the purchase of new equipment, the advantage is the obvious factory warranty that is provided should there be any mechanical issues.

Also, with a new piece of equipment, you get the latest in technology as well as the comfort features offered.

The drawbacks could be the wait time in getting the new equipment and depreciation issues.

Also See: Earning Money With a Box Truck & Earning Money With Construction.

 

14. Buying Used

If opting to buy used equipment, you will be able to obtain the equipment at a better price and most likely buy the item immediately and have it available for use.

A well-maintained skid steer does have a good resale value and therefore there will not be any immediate depreciation.

The potential downside to buying used is any needed money to repair or invest in the equipment and also you don’t necessarily have the access to all of the maintenance records.

 

15. Insurance

A critical component in the operation of any business is insurance.

Insurance will protect your company and your customers from liability as it relates to the job being performed.

It is important to speak with a reputable insurance broker and in fact, you can get a number of quotes from a variety of insurance agents.

A professional agent will be able to assess your situation and suggest the proper insurance to take out as well as the limits of liability.

Common types of insurance could include:

• General liability
• Property and equipment
• Workmen’s Comp.
• Business auto insurance
• Umbrella liability insurance

 

Getting Jobs

 

17. Out in the Community

In order to obtain jobs that will need to utilize your skid steer, you will need to get out in the community and mingle with other construction professionals as well as other individuals that could utilize your services.

A good organization to be associated with that allows you to interact with other business owners is the Chamber of Commerce.

As a member, you have the opportunity to be involved with various mingling events that they have as well as being listed as a chamber member and taking advantage of that relationship as it relates to the members needing the services that you provide.

 

18. Marketing

In your business plan, you outlined a marketing strategy of how you are going to promote your business and earn income through the services of providing a skid steer.

It is important to visit that strategy periodically and change or modify it as needed if certain steps are not productive or other steps need to be modified, etc.

Also See: Best Pickup Truck Jobs & Best Jobs Working With Plants.

 

19. Advertising

As part of your moderate marketing strategy, you indicated, most likely, that you would be advertising your services.

Some of that advertisement could be taken out in printed media, advertising on the radio, doing local ads on the television, etc.

Of course, these options take money to be realized and if your advertising budget isn’t what it needs to be, you can hold off on these items right now and revisit if your marketing budget comes to the point where you have the resources to advertise your company.

Of course, the best advertisement is word-of-mouth, and therefore, it is important to ask customers if they would be so kind as to recommend your services if those services that you provided met their or exceeded their expectations.

 

20. Social Media

Another great way to promote your business is through your social media platforms.

You could utilize a blog site to talk about construction and the use of the proper tools and of course, you have the skid steer that can be part of that process in accomplishing the work needed.

You could also advertise using your Facebook page or set up a Facebook business page, Instagram, Tik-Tok, etc.

 

21. Service Clubs

Another way of getting the word out to the business community is by being involved in service clubs.

These service clubs can range anywhere from the Lions to Kiwanis to Rotary to Soroptimists.

These service clubs usually meet on a weekly basis and gather together for lunch and network as well as often inviting speakers that provide an informative program.

This would be a great opportunity to mingle with your business peers and let them know not only about your business but to get to know you better as well.

 

22. Builder Associations

Often, in the community, there are business associations that protect the role, occupation, and service of builders and the communication in the community.

You could seek these associations out and be involved as much as you can and get to know others involved in your particular business area of the community.

Other Interesting Money Making Articles To Consider:

• Truck and Trailer Money Making Opportunities
• Lazy Ways Mothers Can Make Money
• Playing Ranch Simulator and Getting Paid
• Playing Township and Making Money
• Ways to Make Money With Google Translate

 

23. Landscapers

A skid steer can be an important motorized tool that can be very beneficial to the landscapers that provide service in the community.

For example, if a job calls for the landscaper to remove a tree and the stump, the skid steer is a perfect tool to remove the remaining stump as there is an attachment that will grind down the stump and make it into mulch.

You could make visits to these businesses on a continual basis and remind them of the services that you provide and that you could be part of any of their needs that they have as it relates to landscaping.

 

24. Grow Your Business

Of course, the idea of starting a business is not to be satisfied with just a few jobs.

The idea is to grow your business which requires an increase in assets, expanding your customer base, reinvesting profits, etc.

Therefore, it is important to have a strategy on paper as well as written into your budget on what you will be setting aside for contingencies or replacement or purchase of new assets.

Additionally, an important part of growing your business, and gaining more customers, is to have a technology presence as well.

This can be accomplished by having a website that when individuals are looking for this type of equipment or other rental units you may offer, they will be directed to your website when they conduct a search.

Your website should be user-friendly, talk about business, equipment that you have available, and any recommendations that any of your customers are willing to allow you to post on your site.

 

25. Maintain Your Equipment

As a business owner and equipment operator, you know the value of maintaining your equipment.

It is important to have a preventative maintenance schedule set up to keep your machines operational and functioning so that money can be earned.

There is a variety of software packages that you can invest in that will help you stay on task or just simply use a pen and paper and a calendar to set up your maintenance schedule to include this important aspect of maintaining your inventory.

A properly maintained skid steer will remain to function and out on the job and help you to realize profits.

 

Personal Story

About two months ago, I decided to fix the leaking valve underneath the bathroom sink.

I had placed a container to capture the steady drip to the point where the container needed to be emptied on a daily basis.

So consulting a very a number of YouTube tutorials, ice said to myself that I could do this and proceeded.

I went to a local home improvement store, bought a valve, the flow tube running from the valve up to the faucet area, turned off the main water valve, and went to work.

The problem was that I had a crescent wrench that is about 12 inches in length and the area or the space underneath the sink was not conducive to this tool and I was I unable to make the needed turns to tighten the valve.

Long story short and after flooding the bathroom, I proceeded over to the neighbor and asked if he had a smaller wrench that I could borrow, and he did and I was able to complete the job.

I could’ve saved myself a lot of headaches and heartache if I had used the proper tool, to begin with.

 

Making Money With a Skid Steer FAQs

 

What Are the Costs Associated With the Purchase of the Three Sizes of a Skid Steer?

The price range of a new skid steer is:

• Small size – $15,000 to $20,000
• Medium size – $50,000
• Large size – $65,000

 

What Would Be the Price Range of a Used Skid Steer?

The average price of a used skid steer would be roughly around $12,000.

 

You Can Do It

You are proficient in the use of a skid steer.

When asked about what line of business you are in and you mention the business of a skid steer, that in itself will increase the curiosity level of individuals to learn more.

With your knowledge of a skid steer coupled with your hard work and enthusiasm to make money utilizing this machinery, you are well on your way to owning and operating and earning a profit utilizing this heavy-duty machinery.

 

Conclusion

Having the proper tools to effectively complete a task at hand is critical and will not only save you a lot of heartache and headache but also maximize your time and minimize the work required when the proper tool or use of machinery is utilized.

Owning a skid steer is owning a serious piece of machinery and can earn the owner and operator of that machine some serious money.

The earning of the money can be done in a number of ways by reaching out to others and letting them know of the availability of this machine or better yet starting your own business.