Buying a dump trailer for $8,000 and renting it out as a dumpster for $300 per day is a profitable venture for an entrepreneur.

Elite Equipment Rentals Says they now make over $50,000 in gross profit from it. Side hustle – and it’s easier than many people think.

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Dump trailers are extremely versatile and in demand.

HomeownersContractors and businesses often need a temporary dumpster for a variety of projects, including construction cleanup and renovations.

by the Investment In a dump trailer, the entrepreneur offers a short-term rental for $300 per day.

Elite Equipment Rentals shared An average of just 15 users per month on TikTok earns them $4,500 in gross profit per month.

Over the course of a year, that translates to over $50,000 in gross profit from one trailer.

Measuring business

After establishing demand in the local market, the entrepreneur decided to expand the operation.

Instead of stopping at one trailer, they reinvested the profits into purchasing additional trailers.

For example, acquiring five more trailers significantly increases revenue potential.

With six trailers continuously rented, the business could potentially generate $27,000 in gross profit per month.

Why it works

The beauty of this side hustle lies in its simplicity and relatively low overhead.

Apart from the initial investment in trailers, the main costs are maintenance, marketing and insurance.

Given the high daily rental rates, these costs can be covered quickly, turning a profit in just a few months.

to begin

For those interested in starting a similar project, here are the key steps:

1. Research the local market: Understanding the demand for dump trailers in the area is very important. Examining competitors’ prices and identifying competitive or value-added service opportunities can set a new entrepreneur apart.
2. Buy Quality Dump Trailers: Investing in a durable trailer that can handle different types of debris will increase reliability and customer satisfaction.
3. Advertise locally: Using social media platforms, local directories, and word-of-mouth referrals will help reach potential customers. It is important to target homeowners, contractors, and event organizers looking for affordable dumpster services.
4. Keep it simple: Starting with a trailer allows for testing the waters. As demand increases, profits can be reinvested to expand the fleet.

Side hustles and tax implications

Your additional income from side hustles may be required to be reported to the IRS.

If you receive more than $600 in total payments. From the sales platform Like eBay, the site will issue a Form 1099-K for you to use on your own. Tax return

Individuals must calculate their adjusted gross income, taxable income, and deductions for the year.

Once they have it, they can use it. 1040-ES Form for calculating Estimated Tax.

So… is it worth it?

In this entrepreneur’s experience, the answer is a resounding yes.

While the initial cost of $8,000 may seem steep, the prospect of a quick return on investment, even with just a few rents per month, makes it worth it.

They have experienced the side hustle and found out that there is a lot of money to be made.

If this side hustle isn’t ideal, there are many others to try on for size.

The US Sun has covered several side hustles, including one that earns $20,000 a month. Flipping cars.

Someone else said they make about $1,000. The laundry gig.