Announcement

Collapse
No announcement yet.

Help from EXPERIENCED PROS...

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Help from EXPERIENCED PROS...

    This site has been very helpful in giving me information on some things I did not fully understand about landscaping. So thanks to all the guys who take the time to post relevant and knowledgeable info, it is greatly appreciated.

    I need a few tips from some of the more experienced guys on here. I have been in landscaping for 10+ years and I am currently 23 and finishing my last year of college. I was taught at a young age that hard work gets you where you need to go, so I started young and worked through middle school and high school with my uncles company. I have cut thousands of yards over the years and have mastered that aspect of landscaping. My real question is for the guys who have knowledge of expanding. I work with my uncles company which gives me access to zero turn mowers,weed eaters, edgers, etc... I started my own company last summer while also working with him. I made around $10,000 from March to November on my own. I am planning on going to my local bank this week to ask for a 1-4K loan to fix a truck I have obtained and also to finish the customized trailer I have been working on. Will I have any problem obtaining this small loan? I already have my business account and have good records showing revenues, expenses, etc. My business makes MONEY I dont waste money on things trying to be the COOL company. I bust my *** and I am there %100 percent of all jobs. My customers have never complained and I put an emphasis on customer satisfaction. I have around 20-25 accounts so far and thats without hardly any marketing. I am working on a big marketing plan that I have been developing over the winter using some methods and strategies I have been learning in my business administration school. I really expect to gain many customers and I need to be able to meet demand. I have been doing all the work myself in order to increase profit. It has been exhausting so I am hiring one person to help me this summer to ease the load. I have developed strategies to cut down the time it takes to do mulching, mowing, and other things which involves taking care of lawns so I am able to perform high quality work for lower prices. My degree is in human resource management so I am constantly looking for ways to speed up processes and cut down businesses costs. I am very innovative and look for things that others do not when they see a landscaping job, I am always expanding my knowledge so any tips or info from people who have went through this stage in their company would help me out. Thanks in advance!

  • #2
    As a new business,its generally tough to get a loan .Good luck to you !

    Comment


    • #3
      Most likely not. Your a new business, and your gross was only 10K.


      You could be the hardest working man alive, but they don't care about that. It's all numbers.

      Comment


      • #4
        Yeah I know exactly what you mean. I know that I am still considered startup/new,but I know the president of the bank personally and played ball with his son when we were younger. He also gave me a car loan in high school for 6k. I know that it usually is about the numbers but I believe when dealing locally with banks it is a little bit easier and other factors come in to play if they know you. I have 2k in my business account saved up. So you are saying they wouldnt lend me anything just because I am new?

        Comment


        • #5
          When dealing with banks in general, they always think "whats in it for me"? When they lend money, they want to know they are getting paid. In some cases a good credit score will get you a loan.

          I don't know much about business loans, I know from personal experience dealing with banks and all the crap i've had to go through. But i'm sure business loans aren't that different. I could be way wrong.

          If your only looking at a few thousand, why not a credit card?


          If you know the bank president, and you were good with your car payment, he may lend it to you anyway. Who knows, but it doesn't hurt to try.

          I'm getting ready to apply for another mortgage on another house, the worst case all they say is "no". If you know you can make the payment, go for it and see what they say.

          Comment


          • #6
            Personal experience-If you can show that you have a viable company with growth potential, and ability to repay- Banks would rather lend a million than a thousand

            Comment


            • #7
              Thanks for the help, and your right. All they can say is no so I am going to give it a try. The credit card is also another option I will explore if I get denied.

              Comment


              • #8
                Do you REALLY need that money? Or can you get by without it, in another way?
                - Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
                Download your Free trial of Gopher Lawn Care Software.

                Comment


                • #9
                  I could get by without the money as I work for someone else also and we have a joint agreement that I can basically use his equipment when I choose. I wanted to get the small loan in order to keep me from spending the money I have saved. So basically I will be fine until season starts in March but with a small loan I could have my own truck an trailer ready to go. I am just trying to get everything in line because I am a full time student so I balance landscaping/class with most of my time. As I have learned if you are not prepared before the season starts up it will cause a lot of stress when customers start calling.

                  Comment


                  • #10
                    What kinds of things do you need to do to finish your truck and trailer?
                    - Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
                    Download your Free trial of Gopher Lawn Care Software.

                    Comment


                    • #11
                      With the right amount of pacing in this field, you shouldn't need a loan.

                      I understand that a vehicle is a pretty big necessity and it's easy to get ahead of ourselves, but you're better off asking family to help you with the repair bill versus the banks.

                      If your family is unwilling, you're better off purchasing a working vehicle by working for someone else longer to make money, before going into business for yourself. You will have a greater advantage than starting near bankrupt.

                      As for making 10K per your first season, congrats, this is normal for those on the right track; however, $10K turns into something like $8K after taxes, and then that can turn into $4-6K with operation costs alone.

                      From what I'm assuming, your business is safe, but there isn't a lot of money going into your pocket, and you don't have the ability to afford new purchases yet. There's no need to rush for you.

                      If you're really hurting to get a vehicle so that you can supply your current clients, any vehicle will do so long as it can last you at least a year.

                      Pick up a junker for $1k of kijiji or craigslist maybe?

                      Comment


                      • #12
                        I have a yukon that has a new transmission and is in very good shape. It needs a motor which my dad has already found, it costs between 650-1000, it is a 350 vortec which me and my dad will install ourselves. On the trailer, it basically has the frame and floor on it. I have been looking at designs online we have access to a welder and metal shaping/cutting tools so I am going to create a design that will allow for weed eater racks,water cooler, storage for gas tanks, etc..With marketing tools used on the trailer as we customize it. I would like to create something that no one in my area has that will allow me to be unique. Any ideas would be appreciated. This trailer was basically free to me so I can do whatever I want with it.

                        Comment


                        • #13
                          I will post pictures of truck and trailer as we get started on both projects to get input from you guys. My goal is to have them complete by the end of February because March starts the beginning of my season.

                          Comment


                          • #14
                            With the right amount of pacing in this field, you shouldn't need a loan.

                            I understand that a vehicle is a pretty big necessity and it's easy to get ahead of ourselves, but you're better off asking family to help you with the repair bill versus the banks.

                            If your family is unwilling, you're better off purchasing a working vehicle by working for someone else longer to make money, before going into business for yourself. You will have a greater advantage than starting near bankrupt.

                            As for making 10K per your first season, congrats, this is normal for those on the right track; however, $10K turns into something like $8K after taxes, and then that can turn into $4-6K with operation costs alone.

                            From what I'm assuming, your business is safe, but there isn't a lot of money going into your pocket, and you don't have the ability to afford new purchases yet. There's no need to rush for you.

                            If you're really hurting to get a vehicle so that you can supply your current clients, any vehicle will do so long as it can last you at least a year.

                            Pick up a junker for $1k of kijiji or craigslist maybe?


                            Yeah I am leaning towards doing what I can without the loan. I have access to my uncles company truck/trailer so I am going to wait until money starts rolling in before I complete my truck/trailer. I don't wanna go into debt this early the more I think about. My operation costs consist of almost nothing but gas because my boss takes care of maintenance because I work with him also. So everything I make is into my pocket. I am just trying to get my own stuff running because I like being my own boss lol I plan on doubling if not tripling my accounts this summer so I need to be able to meet demand so I am getting anxious to start. Thanks for the feedback

                            Comment


                            • #15
                              I am glad to hear it! Keep us posted on how everything goes with all this.
                              - Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
                              Download your Free trial of Gopher Lawn Care Software.

                              Comment

                              Bottom Ad Widget

                              Collapse
                              Working...
                              X