Category Archives: Sell Heavy Equipment

New into selling heavy equipment – Learn your stuff well

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It has been observed that the profession of sales is in itself a tough one and it becomes tougher when one has to sell heavy equipment. It is a testing period for the beginners who came attracted into this profession whether they will be able to carry on with this for long. Not many want to be a part of this industry as they find it extremely difficult to sell heavy earth moving machines. It is not that there are no takers for the equipment. It is just that they need to put a lot of effort in order to learn things and then apply it in their line of business.

What is of utter importance if you want to make it big is to know what you are dealing with. Well, yes you are dealing with heavy equipment but to know a bit more about them will take you a long way from where you are. You do not have to know things as much as the guys who produced the machine knows but knowing the salient features and few technical stuffs always helps when you are trying to sell it to a tough consumer.

Be with the technician to upgrade your knowledge:-

The technician is perhaps the only person who knows the in an out of the heavy equipment and he can tell you the good and the flaws of the machine. You got to be with him while he is working with the equipment or just in case you can manage to get in touch with an operator, he can teach you a lot of stuff about the machine. These guys are regulars with the equipment and they carry loads of information which you find quite handy when you reach out to clients to sell.

Watch training videos:-

Training videos also help big time to learn about different types of heavy equipment. If you are given to sell an excavator or a grader or crawler, all you need to do is watch some training videos that are available online. It will help you a great deal and will make life simpler. When you know a lot about things, you will feel confident and will also comprehend the jargons that are thrown at you by some clients. The client also generates a sort of trust when he gets to know that you are not just any salesman but a guy who have done his homework well and know your stuff well.

Take help of your seniors:-

It makes lot of sense to spend enough time with your seniors and discuss things with them. Since heavy equipment is a far too complex subject and takes time for one to learn it, discussing things with your seniors often helps and clears out lot of doubts. They will also give you good advices to sell heavy equipment and the challenges that a salesman often experiences. In order to grow in this profession one needs a good mentor and therefore finding one amongst the seniors should be your priority.

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Learning heavy equipment doesn’t end for an experienced salesperson

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There is probably very little profession that is simple to do or as a matter of fact there is virtually no profession that one can find to be simple. It always gives you the scope to learn something new every day. You may come to a point where you will feel that you have probably known everything about the business you are involved in but the reality can be starker especially when it comes to the profession of being a salesperson and that too of heavy equipment. An experienced person may not find it difficult to sell heavy equipment but he may also experience a tough time during his visit with a client who knows about machines better than him. It will then be difficult for him to tackle the situation with just his ability to persuade one to buy machines. He then has to make use of the knowledge he has garnered over the years to bail him out or else the meeting will turn out to be a disaster.

The ground rule for every salesperson who is dealing with heavy equipment irrespective of him being a newbie or an experienced guy is to keep learning about machines. You have to keep yourself updated with the latest technology that comes up in the market. The upgrading of knowledge is also taken care of by the heavy equipment companies as they conduct training sessions for everyone whenever there has been a new product that is being launched in the market. So the sales guy does not have to do too much of hard work from their end. They only need to ensure that they keep on updating themselves with what is going on in the heavy equipment industry.

The heavy equipment company also expects more from a tenured guy for which they pay him dearly. They believe that the veteran will make the most sales for them as he has been in this line of business for the last many years. The high hopes that the company has from the veteran also displays the kind of confidence that the company has on the person. They will definitely want him to perform and be the best salesman in the company.

In order to come true to the hopes, he got to constantly work on learning more about the equipment. He probably had experience in selling one particular type of machine but now he is being asked to sell something else that he has not much heard of or read about. That comes as a big challenge to the veteran and this is where he has to sit with books pertaining to that machine and do his research. Browsing training videos will also help him big time. This is how he can prepare himself for the next challenge in life and prove his metal. Learning is a never ending process and when it is about a vast subject like heavy equipment, learning becomes an ocean for you. More you dive deeper, the more you will get to learn.

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Borrow money to purchase heavy equipment or take it on rent

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Starting a new project and need heavy equipment? You are ideally left with 2 options. Either you can rent construction equipment or you can go ahead and buy it. The thing that you need to take into consideration is if you have hard cash to buy the machine or you need to finance it from a lender. The other option is more viable under certain conditions. You should rent the machine if you only need it for the project and once the work is done you have to discard it. If you fall in this condition, then renting the machine should be the most viable option for you. However, if you feel that you will require the equipment for your future projects as well, then it makes every sense to buy it.

Do not drain out all your reserves to buy the equipment:-

Just in case if you have hard cash available to buy the construction equipment, it is advisable that you do not shell out all the money to buy the machine. You never know when you will need the money and if you end up everything to procure the new machine, then you may have to experience some hard time to fix tough situations. What you can rather do is make an upfront payment of 20% of the total value of the machine and the rest borrow it from a lender. It is important that you do a thorough study of the different interest rates being offered by the financial institutions. Go to the one which will charge you with a lower rate of interest and also will not charge much closing costs. Take a calculated decision when you intend to buy a machine.

Ensure to pay your monthly payments in time:-

If you intend to purchase the machine and borrow money from a lender, you should also ensure that you pay your monthly payments in time. Please do not become a defaulter for even a month. That will have a huge impact on your credit score. So when you think about borrowing money, you should also keep in mind that you can’t play around with your credit score. These things must be planned in advance and if there are any deviations later, then that must be taken care by the reserves that you have with you.

In case you decide to take the machine on rent then you need to analyze the period for which you may need the equipment and how much are you ready to pay as rent.

Check online to rent a machine:-

The simplest option to locate the person who wants his machine to let out is on the internet. You can just type the kind of equipment you want to take on rent and the search engine will throw all the option that it has or call us at B&R Equipment. You can check the one you want and contact the giver. If you agree to his terms and conditions, you can finalize the deal.

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Selling heavy equipment online is more effective than any other means

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In the past, people who were possessing heavy equipment had a real hard time to sell the used machines to another buyer. It not that there were not buyers ready to use used machines but the seller had a tough time to locate such buyers. They had to give the advertisements in newspaper classifieds and they were able to sell it off to the ones who stayed in their city as the news of him selling his used machine never got out of the city. Newspapers are mostly circulated within the city and hence the news of the machine being sold stays in the city and other prospective buyers who are in hunt of something similar do not ever get to know of such thing.

Things have now become far simpler. With the advent of internet, people are using this mode to do lot of businesses. They also use it to sell merchandize, books, electronics and even heavy equipment. If you are wondering how they will ship the item to a different city, then that is no longer an issue. They can even ship it to a different country if the buyer is really interested to buy the item and is willing to pay for the shipping cost. The usher of internet has made many lives simpler and with every passing day many people are latching on to internet to start up their business and many to a larger extent have also seen tremendous success thus making it the source of earning their bread and butter.

Since you can reach to a larger audience, your base becomes bigger. You no longer have to restrict yourself to your city of state but can reach to many other cities, states and countries and can sell your machines there. As a matter of fact, heavy equipment manufacturing companies also have the option of selling their machines to the overseas mark et. Such has been the response that they have now set up their offices in foreign shores and are doing real good. Most of the companies have also set up their units where they are manufacturing machines for that country so that they can save on the shipping costs. For guys who are not big like CAT or John Deere but are still looking to sell machines online can register themselves in an online selling site and go through their terms and conditions in detail. This is important to do as you get you know the conditions that the online portal wants you to follow.

Once that is done, the next step is you start listing your items on the site. You can mention the price of your machine and also mention if it is new or used. Try to spell out every small detail about the equipment on the listing so that people know what they are dealing with. You can also share you email address on the listing so that if anybody wants to reach you, they can. If someone buys the item and pays for it, you got to only ship it to him and keep a track of the shipping order so that it reaches to the buyer safely.

How to be successful salesman selling heavy equipment

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We all know to sell and as a matter of fact we do various things in our daily lives but some are good in selling things and some are simply great. It depends on what exactly you are trying to sell. Not everybody can sell everything except for few exceptions. Selling heavy equipment is quite a difficult job and the one who can sell heavy equipment can definitely see a bright career as a successful salesman in the heavy equipment industry. So if you are good in selling investment avenues, you may find it difficult to sell heavy equipment as they are not at all related to each other in any fashion. In order to become a successful salesman, one needs to understand few very basic principle of selling and then practice those principles on a daily basis. Slowly and steadily, he will find himself getting groomed into a better salesman and then sky is the limit for him.

Having thorough product knowledge:-

This is the first and one of the most important criteria one needs to possess in order to become a successful salesman. Firstly, you need to understand the kind of heavy equipment you got to be selling and only after that you sharpen your skill by learning more about the product. Knowing the intricacies will always help you in dealing with a tough guy who knows almost everything about the machine. You will not see yourself walking out with your tail between your legs feeling embarrassed with your performance. Having good product knowledge is an essential criteria when it comes to becoming a successful salesman. It actually boosts your confidence as you know that you will be able to answer anything that’s put across to you.

Work on grooming up yourself:-

No one likes to talk to a lousy person. So if you are the guy who is least bothered about grooming yourself up, that will go against you. You may be quite knowledgeable about your stuff, confident enough to speak without fumbling or stammering but your personality speaks louder than you. If you are not able to carry a good personality and look like a lousy lad, things will not go your way. So wear formal when you go for the meeting. Make sure that your shirt in tucked in, shoes polished, hair properly combed and face clean shaved. Sport a good perfume and do not wear anything that is flashy.

Know about your competitor’s products:-

Just limiting your product knowledge to your company will not help. You also need to know the features of the products manufactured by your competitors. Do not criticize their products but you can definitely speak well about yours. So knowing a bit about them will always help you in the long run.

Understand the need of your customer:-

A good salesman is not the one who can sell anything to anybody but he is the one who sells his product after understanding the need of the customer and linking it with his product. So you got to hear him first, understand his requirements and then try to associate it with the product. This will convince the buyer and he may go for the stuff.

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No point in buying new equipment when one can get it on rent

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Construction industry falls in that category of industries that has huge requirement of finances for some reason or the other. They need money to take care of the operating and non-operating expenses, pay the workers their wages etc. They also have to check on the kind of heavy equipment available with them so that in case there is a need to get a new machine they should have the funds to go and get it. Heavy equipment are quite an expensive stuff and one got to be ready in advance and keep the funds available to ensure that the need of the business is fulfilled. Having said this, there is one point that the owner of a construction company can ponder. In case, if they can get the same machine that they are looking for on rent rather than having to buy them, it may save a lot of money of the company and simultaneously they can make use of the funds that were parked to buy the machines to take care of some other business needs.

There is however one very important point that you should keep into consideration before you rent a machine. Since you would be using somebody else’s equipment, you should ensure that the machine has all the features that you would be requiring for the project and the machine is in good shape. You should probably take an expert with you who will examine the machine before go ahead with the deal. You should not end up taking equipment for which you have to repent in the future.

Few other pointers that you should know before you sign on the dotted line.

A brief history of the machine:-

To know a few things about the machine will always be beneficial as it will help you to negotiate with the giver. For instance, if the machine has some cases of accidents then it puts you in a position from where you can demand for a deduction in the rentals. Negotiations like these are always open and the taker must be ready to take chances wherever and whenever it is applicable. Knowing the history of the machine will also give you the idea of how old the machine is and is it at par with the construction equipment that comes with the latest technology gadgets. This will help you to decide if you should be eventually going for the deal as it makes no point in renting something that is technologically backward.

Knowing the tentative duration of the project:-

You should at least be aware of how soon you can complete the project. On the basis of that, you would be renting the stuff. Always rent the machine for an additional 2 months from the tentative date of completion. You never know if things may get delayed and you have to prolong the use of the equipment. Often the giver rents the machine keeping into consideration that he may not need the machine for a specific time and if he rents it to you he may ask you to hand it over once the terms completes. So if the work is left incomplete and he asks you for the machine, you will be left in a murkier situation. To avoid this, you should rent it for 2 extra months and keep things in your control.

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Hire, Purchase or Lease – Which One is better for Your Next Heavy Equipment Investment?

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Presently, construction industry is blooming but in a slow speed. In this situation, is it better for a construction company owner to lease, procure or rent a bulky paraphernalia? According to Peter D. Gregory, the senior vice president of the reputed construction group of Atlanta commented that right now the condition of the market is tentative that’s why the construction company owners are hesitating to procure heavy equipment or go for leasing deals. Yet, the construction concerns still require bulky paraphernalia to accomplish their task on the site.

In large organisation, the construction business possessors hire equipment managers and chief financial officers to give suggestion on the issue of renting, leasing or purchasing the heavy equipment. On the other hand, in the budding construction firms, the owners alone take the decision. The presidents of some of the well-renowned construction companies stated that the decision entirely counts on the financial condition of the organisations. To determine, which one is the most suitable one needs some logical prediction and forethought. Here in the following piece, the readers will come to know the difference between the buying, renting and leasing a heavy construction equipment.

Renting, Purchase and Leasing Options for Construction Site Contractors

Rent option helps the contractors to save their capital. Often, they choose the option of renting when they require a specific item for a particular task. Some of the well established construction merchants stated that renting is more costly than lease and purchase options because it provides flexibility to the clients.

When the contractors procure heavy construction apparatus, the dealers not only proffers instant ownership but also subtracts the depreciation cost of the equipment. The interest the possessors get form the deduction helps the construction firms to conserve their tax amount. Majority of the construction organisations prefer to buy heavy equipment parts as it adds as a valuable asset in the in the balance sheet. But, the majority of the budding construction owners prefer to go with the lease option because of the Alternative Minimum Tax (AMT).

Lease is yet another option that is facilitated to the construction company owners by the dealers. It is the best choice for those organisations which are not efficient enough to utilise the depreciation. Other than ownership, this option also provides usage pact with typical no money upfront quality.

Comparison Between Lease, Rent and Buy of Heavy Construction Equipment

For long term use, the charge of the lease is much lower than the renting cost. Therefore, it is sensible for the contractors to avail the benefits of leasing heavy equipment for long term basis. If the construction company owners desire to attain the equipment, then the outright purchase technique is more economical to other alternatives.

On the other hand, for short term purpose, the option of renting heavy construction apparatus is the best. If any construction concern owner wants to go with the buy option, he/she should asses some factors like time duration of the application of the equipment and its maintenance cost.

To sum up, it can be said that all the above mentioned options of availing the benefits of heavy equipment are beneficial to the construction owners unless and until they have the skill to attain it in proper way.

 

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Becoming A Successful Entrepreneur Lies In Your Ability To Learn New Things

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The word business sounds to be so lucrative to our ear which is why we all want to own a business. There we will not have any anybody to give orders to us and can do things as it pleases us. If at all, we need to leave a bit early, we have the privilege to do that and do not have to answer anybody for that. Overall, it may give you a sense of freedom, a fresh air to breathe and live life on your own terms. Well, all this sounds so good to hear but does it happen the same way in our practical lives? Well, that is a big serious question which probably a businessman or an entrepreneur may be able to answer. If we give a thought to the fact on how easy it is to run a business, we may find ourselves thinking for hours; because it is not at all easy to run a business. A businessman before starting up a business has to deal with many things and also has to sacrifice a lot of things which he wouldn’t have to do in case he had done a normal day job.

Most importantly, he has to keep himself present to new challenges and to learn to overcome them without hurting his finances. Alternatively, just learning about his business may not be enough but he also has to know a bit of the laws of the land. In order to start a business, one needs to know the government policies of the place and what are the procedures he needs complete to procure a license. Also knowing the time it may take for him to get the license plays mighty role in his business. Thus, he needs to keep himself abreast with few things inside the business as well as outside that will keep him going all the time.

Have a role model:-  Having a role model always helps in difficult times. You might want to make a distinguished person as your role model who is your favorite. A person to whom you respect for his work and also for the kind of attitude he has towards his work. Keeping him as your role model will help you remain motivated as you may feel that if he didn’t give up in a bad situation, so won’t you. You may just stick to your basics and work harder to get through it.

Always keep yourself open to learn new things:-  This attribute is essential in almost all the industry. Employers are always in hunt of employees who know the in and out of their domain. In order to know everything about your line of work, you have to keep yourself open to learn every new thing that comes in your way. For an entrepreneur, it becomes all the more important to keep himself abreast with any small update that concerns his business. He just can’t let them go away or it might prove fatal to his business.

Check out the following tips before buying heavy equipment

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Now a day, construction companies have made an amazing reputation in the whole world. Due to its several facilities and benefits, it has managed to gain people’s attention. If you want to run a construction business successfully, then you have to buy the best heavy equipment in the market. Heavy equipment is the most important part of construction companies that help your workers to work properly in the site and take your business to the next level. Without the best heavy equipment you cannot maintain your construction works. Thereby, you need to very attentive to choose the heavy equipment and buy it from the real place. Buying heavy equipment is like buying a new car. You have to be very careful about it because you are going to spend lot of money in it. However, you shouldn’t get worried over this.  There are some tips that can help you to choose perfect equipment for your site.

Follow the tips below to find out the best heavy equipment-

  • Well, at first you need to search very well to find out the right equipment that can serve your purpose. There are many websites available on the internet that offers heavy equipment. You can definitely search such websites in order to get the right one. Companies that are dealing with such equipment always listed their items on their websites. You can search on the websites by equipment name, type, model and you will certainly get what you need. It is important to compare the equipment with each other to find out the best one.
  • Well, before buying the equipment you need to know its operating hours, work ability and other conditions. There are some concerns that you should know about the equipment. For example, an old but well maintained excavator can be operated for very few hours while the new model can offer you great services with more operating hours. But when you have to choose between the two of them you should go with the old machine.
  • The most important point is the manufacturer. Before going to buy the machine, you should definitely check its manufacturer properly. People believe in brands and also have soft corner for brand items. Whether it is about clothes or heavy equipment, they like to go with the name. Well, it is true that brand materials come with good quality and you can trust it blindly. You just need to pay little more to get a brand item for your construction site. There are many brands available in the market that offers heavy equipment with guarantee. But, sometime, you can also go with the lessen-known and less expensive brands. You can get what you want from such sites also.

These are the few tips that you should definitely check before buying the equipment. It will help you to select the best heavy equipment for your site.

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How to sell heavy construction equipment

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Selling and buying heavy construction equipment and also renting them out, is a very good business option. As there has been a constant need for these heavy equipment in the agricultural, constructional and other fields, if you have heavy construction equipment that is not being use, then selling it is the best option. Construction equipment doesn’t come for a very affordable or cheap price. So when you sell off your equipment, it is very likely that you will earn a lot of money. In most cases, the buyer, as well as the seller, has to go the broker for doing the job. It obviously involves a loss of the possibility of maximum income. So knowing the steps of selling the heavy construction equipment is very important so that the seller do not need to go to the broker anymore.

  1. Firstly a seller will need to determine the exact value of the equipment that he or she is selling. This must take into consideration all the factors like the age of the equipment, its physical condition, whether it has had any damage in the past or faced any accident in the past. The demand and supply of the equipment in the market at that point of time should also be considered as a determining factor for the cost of the equipment.
  2. Choose an auction to display the product and increase the sales price, so that you can earn maximum profit from the equipment. Nowadays, online auctions are very much popular and the easiest way to put your equipments for an auction.
  3. Once you get the maximum bid for the equipment, you can sell it. The payment must be cleared and it is the responsibility of the seller to deliver the product to the buyer with all the necessary papers and documents.

When you are selling heavy construction equipment, it is very important that you manage to provide all the necessary details of the product to the buyer. If they have any queries and questions in their minds, then you must offer the proper answers to them. For this, you can have an expert in your staff. This little service will increase the sales of your product. Learning the market trends and which products have the best probability for sales for the time being is very helpful in case of heavy construction equipment. The more the demand for the heavy construction equipment is, the better will be the probability of the product being sold soon.

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