Dumpster Rental Earnings

How much can I earn with a dumpster rental business?

If you’re looking for a list of businesses where you can make profits effortlessly, the dumpster rental business would be on that list. Although the dumpster rental business is often associated with dealing with dirt and waste, there is a lot of profit to make out of the business. 

The dumpster rental business industry is worth $500 million which means there’s enough money to go around for everyone in the industry.

If you’re interested in starting your dumpster rental business but you want to know how much you can earn by starting the business, you’re in the right place.

This article will show you how much you can earn, how much you’ll need to start and ways to make your dumpster business more profitable.

How much can you earn with a dumpster rental business?

The dumpster rental business is quite lucrative and you can earn enough per month to help you repay the loans you took to start the business in record time.

If you own enough dumpsters and roll-off trucks, you can make deliveries to about 30 customers in a month. The average price to rent a roll-off dumpster is $469.29. And also note that the price varies depending on the location and type of waste. If you’re dealing with commercial entities and industries, you may have to deal with hazardous wastes. 

The price can change depending on your agreement with your clients. However, sticking with the original estimated cost of renting a dumpster which is $469.29, you’ll be making approximately $14,000 a month. And to get customers is not difficult, so long as you made your research about your customers before starting.

To get a 20-yds dumpster costs an estimate of $6000. This means that if you take delivery of this dumpster to just 15 people at the cost of $400 per week, you get your money back. And after that, you can start enjoying the profits of your dumpster.

The interesting part is you don’t have to start on a large scale. You can start your dumpster business with just a dumpster, then as your business grows, you can get more dumpsters and even roll-off trucks.

How Profitable is a Dumpster Business?

Every day, people have waste to dispose of. This means that so long as there’s waste that needs to be disposed of, the dumpster business will always be relevant. The dumpster business is high in demand because there are not enough dumpster businesses to match up the amount of waste that needs to be disposed of every day.

The dumpster industry is currently worth $500 million which shows that there is enough revenue in the business. 

Quick Facts

  • Investment range – $29,050 – $47,100
  • Time to build – 1 – 3 months
  • Industry trend – growing
  • Revenue potential – $104,000 – $260,000 p.a.
  • Profit potential – $52,000 – $130,000 p.a.
  • Commitment – flexible

Trends in the Dumpster Industry

The dumpster industry is all about providing customers from different fields with their requested size of dumpsters. Your clients could be owners of hospitals, industries, restaurants and what have you. 

This means that the waste product from these various fields varies from each other. Most roll-off dumpster companies rent out their dumpsters for a specific period and at the end of the lease period, they go to retrieve their dumpsters from the location. 

The length of time of the rent, and the cost of renting the dumpster for that period are what make up the revenue and profits of a dumpster rental business owner.

Recently, the increase in waste that needs to be disposed of demands the increase of dumpsters. The reason is that every day, new sources of waste spring up. Talk about the various construction activities and the increase in corporate activities. 

These recent trends have led to an increase in demand for the dumpster rental business. Due to the steady growth of the industry, the industry experienced a 2.3% increase in revenue every year which makes up for the $500 million at the end of 2019.

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Ways To Make Your Dumpster Business Profitable

Every successful dumpster rental business out there is successful because it’s being backed up by a professional business plan. Before you venture into the dumpster rental business and invest a lot of money into it, you need to have a proper plan. 

There are certain factors you need to consider and things you need to put in place before you start the business. 

You should first do enough research on how lucrative the business will be especially in a specific area. Check if there’s any competition in that area. Check how your competitors operate and the costs they charge. 

You most likely want to be the only dumpster rental business in your area, so you need to do adequate research. And if there’s no other choice but to compete with other existing rental businesses, then you need to come up with a plan to beat your competitors.

You could come up with a new strategy that your competitors don’t know about. You’d indeed run a dumpster rental business but you can go out of the box and build relationships with partners that are in any way related to the dumpster industry. 

They can include your clients, real estate management officers and even the community garbage collectors. When you build a relationship with them, it gives you an edge over your competitors. 

Instead of limiting your business to just renting out dumpsters, you can include other services like garbage collection. 

It not only gives you a competitive edge, but it also increases your pay from your clients and consequently increases your profits.

Below are two effective ways to boost your dumpster rental business profits:

  • Trash Collection Contracts

One of the best ways to make maximum profits in the dumpster rental business is to sign a contract with big companies or even cities. 

Most cities sign a contract with dumpster rental businesses and most of the time, these contracts last for years. When you sign contracts like this, you don’t just have a competitive edge, your competitors don’t even stand a chance to compete.

Plus, you’re still at liberty to work for other clients. It all depends on how well you’ve invested in getting roll-off trucks and dumpsters. This is one proven way to earn more than your competitors and make more profits.

  • Trash Recycling

Trash recycling is closely related to the dumpster rental business industry. With the right connection, you can build a relationship with partners from the recycling industry and that helps boost your profits. ,

The Recycling recycling industry needs those plastic bags, wood and metals from your dumpster. But most of the time, the recycler does not have the resources to go about finding this trash themselves. So they need a dumpster rental business that can bring the trash directly to them.

You could strike a deal with trash recyclers and they invest in your business. This means you can get more roll-off trucks and more dumpsters. This is another way to have an edge over your competitors and earn more profits while at it.

What barriers are there to starting the dumpster rental business?

There are different barriers to starting your dumpster rental business but we’ll only consider two. Check them out below:

  • Finding necessary start-up funds

Of course, it’s not easy to start a dumpster rental service. You’ll need a huge capital to start. The cost to start up a dumpster business is somewhere between $20,000 to $50,000. 

This is quite a huge sum and may be difficult for you to raise alone. Although this is a barrier, it can be scaled through. There are financial institutions that are ready to invest in your business by granting you loans. All that’s required of you is to provide a concrete and professional business plan.

There’s also the option of seeking help from your friends and family. The pain of this business is in the initial stage of finding funds to start up. But once you’re able to get past that, the profits are enough to make you smile again.

  • Entering a competitive market

This is another barrier to starting a roll-off dumpster business. The fear of competing with an existing dumpster rental business can be overwhelming sometimes. 

However, this is where having a concrete business plan comes in. As part of your business plan, you’ll have to do extensive research on the market and your competitors. 

You’ll have to know what your competitors are doing, how they’re doing it and how well they’re doing it. At the end of your research, you’ll know the perfect area to start your business and thrive.

On a final note;

This article has been able to explore the cost involved in starting a roll-off dumpster business, the profits you could make and how to increase your profit even more.

If you’ve ever had any doubt about how profitable the dumpster rental industry is, by now, you should have had a change of heart. The dumpster rental business is a gold mine only for those that are ready to pay the price and implement the right strategy.