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Have you been advertising this service? Have you lined up more than one customer for it?
This reminds me of a discussion we have had on aeration. It seems the best way to go about it is to line up a bunch of customers and get as many jobs you can get done in a day or two when you rent the machine. Otherwise the costs can be sky high and make it not profitable.
I would think first off you would want to know your costs and figure how long each job will take. Then you can break it down and say ok I need $x per hour to reach the level of profitability to maintain my business when I rent such a piece of equipment.
Afterwards, keep track of the size of the property and the time it took. Once you know that, you can then create your own formula for operating such a piece of machinery per 1,000 sq ft of property and it will help you estimate better and faster in the future.