andrew mackinnon
Member
Hey all , my wife and I are in the process of opening our own excavation business . I have 7 years experience with oil field , heavy civil and residential excavations and would only target the residential market with our own thing . We have access to fill and gravel in place , my own skills would cover the residential market and I'm able to haul my own gear . We can borrow up to 225,000 but might be able to get started with 200,000 for a pit excavator , tandem truck and possible pup trailer , on site excavator ( 16 ton range) , 25 ton float , company truck , packer and various odds and ends . Our payments through the lender would be upwards of 2400 a month for 10 years and our projected profits looks ok seeing you don't have a major breakdown . My ultimate question is for the business owners out there that started with nothing is it worth the extra stress and financial risk going on your own vs working for someone else . A guy gets tired of earning someone else's assets and equity when I could work toward my own retirement in a sense . Our economy is good here and could handle another contractor . Thanks for the reply's and advise in advance .