Now is an advantageous time to start a dump truck business. The dump truck industry is very profitable and growing at a fast rate. If you decide to venture into this profit-potential industry, you will likely make huge returns from your investment. Many ongoing construction projects occurring throughout the United States make this business venture lucrative. By 2025, the U.S. dump truck service market is expected to reach $20.64 billion, and that’s just for mining and construction projects on a significant scale.
There are several advantages to becoming a dump truck driver.
• Pay rate: A dump truck owner-operator can earn anywhere between $40,000 – $197,000.
• Local work: Many jobs that dump truck drivers accept are hauling loads from one place to another within a 20-30 mile radius.
• Enormous opportunity: New drivers and experienced drivers will find many options available for good-paying work.
Dump Truck Business Boom – Market Overview
There has been an explosion in the dump truck business in the last few months because of all the fracking happening in the nation, all the bridges being built, and the construction projects across the country. One of the biggest reasons for the explosion in dump trucks is truck drivers are tired of being on the road 24/7. By starting a dump truck business, drivers can be at home every day and still make as much, if not more money, than driving coast to coast.
This versatile industry allows dump trucks to operate throughout multiple sectors, and dump truck operators can run the trucks 24 hours a day if they have a few drivers.
The Future of Dump Trucks with Infrastructure Plan
The outlook for the U.S. construction industry is strong, thanks partly to the current administration’s recently passed infrastructure bill. With massive projects to upgrade roads, railways, and airports, the construction industry is expected to grow nearly 4% annually through 2025, according to market research firm Research and Markets, ensuring steady business for dump trucks. With the current administration’s infrastructure plan, 600 billion will go toward roads, bridges, and airports. Dump trucks will be working hard dealing with dirt, sand, gravel, etc., from construction builds.
Dump Truck Costs
New dump trucks start at around $100,000 but can often cost $150,000 plus. For example, the new Kenworth dump trucks can cost around $200,000. Used dump trucks usually cost between $30,000 and $40,000. Average insurance costs are $6,750 annually. You should also consider these one-time costs:
• Dump truck registration: $1,600
• Marketing materials: $1,500
• Office supplies: $100-$200
• Permits and licenses: $200
• Estimated sales tax: $2,500-$3,000
The estimated initial costs of a dump truck business is about $140,000 for a new dump truck or about $50,000 for a used dump truck.
Commercial Fleet Financing Finance Program for Dump Truck Owners
Commercial Fleet Financing (CFF) offers dump truck operators a fantastic program. The owners need good credit and a 700+ credit score, but they could finance a 20-year-old dump truck. And they would still get 36 or 42-month financing. The program requires three years in business.
We’re offering maybe one or two payments and first and last payment independence from a down payment standpoint.
The beauty of the program is that with older dump trucks, you’re not putting half down. You won’t have to empty your bank account to make money. With over-the-road trucking, it is just the opposite.
Construction Equipment Financing ~ Credit Pre-Approval in Just Two Hours
The CFF team of loan consultants are industry leaders in construction equipment financing because we’re the best-trained team in the industry. That’s why the financing process is so quick and easy.
With credit pre-approval in as little as two hours, loan and lease funds delivered in as little as 24 hours, zero-money-down options, and the most flexible terms in the industry, it’s easy to see why more people choose Commercial Fleet Financing over the slow and cumbersome big banks and credit unions.
Start this easy process now.
Call CFF For Your Dump Truck Financing!
Call Commercial Fleet Financing to hear about their great business model to help your company grow and make money. We will help you get your truck on the road fast to build up your business.