Category Archives: heavy equipment sales

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 construction equipment is tougher than selling any consumer durable item

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Many people consider the profession of a salesman to be one of the most difficult profession and they have valid reasons to counter it. The important question is why anyone would buy anything from a person that they have not seen or have not known before in their lives. It is very difficult for anybody to trust a person they are not familiar with and it becomes all the more difficult if the salesman is trying to sell things whose brand is not a known one.

There is still scope to sell a consumer durable product to a person but if you are dealing with selling heavy equipment your customer horizon gets further contracted. It is not everybody who will require buying heavy equipment. As long as the person is associated with the construction or mining industry, it makes sense for him to give his time listening to the talks of a salesman trying to sell heavy equipment but other than that, it would be a complete waste of time to pitch the product to people who have nothing to do with these industries.

Product knowledge should be up to the mark:-

Remember when you are dealing with heavy equipment, your product knowledge should be real good. People selling consumer durable products need not be that thorough with their product knowledge because just by creating the need for the customer, he can make the sale. Using the same tactic in case you are selling heavy equipment will definitely backfire at you and will never work for you. So, it is prudent that you do your own research about the product that you are trying to sell and gather as much information as you can that can be pervaded to the end user.

Selling is an art and by practice you’ll master it:-

It has never been easy to sell anything to anyone. Selling is an art and it takes time for one to master it. You got to meet as many people as you can and try to sell them your product. As far as selling construction equipment are concerned, your customer market gets contracted to people belonging to the construction segment. You got to reach them and try to make sure that you fix an appointment with them. Meeting them in person can make a lot good to you in learning how to sell stuffs to people. You can also take your senior along with you. Someone who is good in selling heavy equipment. Check his style, his posture and the way he speaks. You may not adopt everything he does but should pay attention on the way he speaks to the customer.

Do not lose heart if you fail to sell:-

You got to be strong mentally especially when you are failing to sell machines to people. Not everybody will need what you are selling at that point in time. They may keep your number with them and may call you when they feel the need. It is important that you always move to the next person and try to pitch the product in a better way.

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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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