How to set up 3.5t self drive hire business

[zoon]

I occassionally hire a 3.5t box to take my horses out, but it involves a 70mile round trip to collect and drop off as there isn't anyone near me who offers the service. Because it is such a long trip I am considering buying my own 3.5t box, but actually wouldn't use it that much. I go out once a month during summer at the moment if I have time, but suppose if I had my own transport I would certainly go out more often. Because I wouldn't use it all the time I am thinking about offering self drive hire (like I said, none near me) to cover my costs. I don't expect to make much money, but as long as my costs are covered I'd be happy.

But I have no idea how to go about it! I don't have the funds to buy the box outright, so would need a loan or finance to buy it - not sure if that would affect my ability to hire it out?

 

[Worried1]

Talk to my dad this weekend, he does a dimilar thing but for transport/recovery lorries etc. It would work along a similar principle and he can give you a good idea of specialist finance companies, charges, insurance etc. Let me know when you are around and i'll get him to bore you

 

[zoon]

Super, thanks

 

[Ladybird]

There's a company that H&H did an article on a while ago that will hire out your lorry for you, they take a commision type payment but sort out all the insurance side of it I believe.

Afraid I can't remember what they're called but might be worth a search.

 

[Laroxes]

Insurance for self drive is very expensive - around £1300 per year. Plus you need to clean the lorry out woth DEFRA approved products. And don't forget about all the wear and tear.