Welcome to the Forums Khancart!:drinkup
You've gotten some really good advice in this thread.
The last thing you want to do starting out is be saddled with debt you have to pay. It doesn't matter if the work is not there, the bank
will send you a monthly "love note" and expect it to be paid with no excuses.
First of all you need to do some local market research if you want to start your own business. Find out what aspects of the construction market are flooded and where there is a demand. Talk to local GC's and ask them what subs they are lacking in, you might be surprised by what they tell you.
In my area, there is no money in renting a skid steer or mini-ex and working them. There are plenty of very experienced operators/business people out there that are running skids and minis that are paid for - already they have an advantage over you that makes it very hard to compete. In this economy I know of many people that had large companies when times were good that are pulling an old skid steer around doing hourly work.
You stated that ultimately you would like to get into placing and finishing concrete, that may be where you need to start. If I wasn't in the site work business I would be in the concrete business. The upfront capital to get into basic flatwork is much, much less than an excavation business. Learn the ropes of how to form, pour and finish drives and slabs and progress from there. If you need any equipment then rental fits nicely into this type of business. There is good money (relatively speaking in this economy
) in concrete, especially commercial and industrial.
Just my $.02 and where I would be looking if I was just starting out - of course this is in retrospect using the knowledge I have gained over 20 years in the construction business.
Tell us a little more about yourself and your capabilities.