Points to consider before you start JCB rental business in India

In today’s world, everyone wants to have a second income, and starting a business is a good option to have some extra money flow. With this objective in mind, many people in Gurgaon want to start the JCB backhoe loader renting business, and JCB on rent in Gurgaon is a popular business option. If you also want to start this JCB renting business, you need to do a good amount of research and should consider the following points.

Funds:

Before you start your JCB renting business, you need to have a good bank balance. To buy any brand of backhoe loader you need to have at least 5to 10 lakh rupees for the down payment and other expenses like – RTO registration, RTO tax, insurance, etc. Banks will fund 75% to 80% of the machine value if you are a first-time buyer.

Bank installment:

Before starting any business checking for the bank installment is very important. JCBrenting business is awesome no exception. If your bank provides you 75% to 80%funding for your business, then the EMI will be a minimum of 50,000 rupees. You need to have a backup plan to pay the EMIs if your business does not go well.

Business sourcing:

To start your business with JCB backhoe loader you need to check the business sourcing options. There are two types of JCB rental options available. One is a daily or hourly basis, and the other is fixed. In the fixed option you have to deploy your machine somewhere for more than a month. If this is your second venture, then try to opt for a fixed rental option as a daily rental system will be difficult for you to manage. Daily or hourly JCB rental business needs your full attention as you should look after all the daily transactions and movements of the machine.

Technical understanding:

If you want to enter the JCB renting business, you need to have good technical knowledge. You need to understand certain basic things, for example, the diesel consumption, hydraulic oil consumption, type of filter or axle used in the machine, the transmission system of the machine, etc.

Skilled driver:

A skilled and trusted driver plays an important part in the JCB rental business. To get your desired profit from the business, you should hire an experienced driver. He should be able to take good care of the loader as proper maintenance is very much needed for the efficient working of the machine. Maintenance is one of the major expenses of this business which can cost you much higher than you expect.