Used forklift sales and hire from a small yard

Small warehouses, factories, builders' merchants, farms and other firms that want a cheaper truck than a new one.

You earn the margin between buying and selling prices. You also charge weekly or monthly hire rates, plus extra for delivery and servicing.

• Knowing how forklifts work and what to check before buying
• Negotiating prices
• Customer service with trade buyers
• Basic bookkeeping and stock control

• Lifting equipment rules (LOLER and PUWER): check what examinations and paperwork a buyer or hirer will need
• Check each truck's ownership and finance history before buying, so you don't buy a machine with money still owed on it
• Stock ties up cash and can lose value, so start small
• Insurance for stock, public liability and moving trucks, and check your landlord's terms for the yard
• Check whether you must register as a waste carrier or deal with oil and battery waste correctly
• Check what your sale and hire terms should cover with Trading Standards or a solicitor

Startup costs are typically around £25,000 to £90,000, depending on how many trucks you buy, your yard or unit and any hire fleet. Stock ties up cash and can lose value, so starting small is sensible.

Monthly revenue is typically around £3,000 to £15,000, depending on how many trucks you sell and whether you add short-term hire. These are estimates only, and results vary with stock choices and local demand.

Check lifting equipment rules (LOLER and PUWER) and what examinations and paperwork buyers or hirers need. Also check each truck's ownership and finance history, waste carrier and oil or battery waste rules, insurance, your landlord's terms and your sale and hire terms.