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-   Starting a lawn care business. (http://www.gopherforum.com/forumdisplay.php?f=32)
-   -   BEWARE: of going into debt (http://www.gopherforum.com/showthread.php?t=6492)

Steve 03-08-2007 08:52 AM

Here is a cautionary tale from someone who spent to much and went into debt.

Quote:

Originally Posted by [b
Quote[/b] ]I am embarrased to have come to this point in my life being I have always paid my bills and have a high credit score. That has all changed.
I now owe $13,000 on cc, $8,000 on a non-secured bank loan and $19,000 on a truck loan. All of this was purchased for my lawn care biz. I have lost so many account this year that I have been taking at least 500 a month out of savings to just pay my bills and each month I am sinking deeper and deeper in debt. I have tried everything, putting my truck up for thousands under trade, cant sell, putting my equipment up for half of market value, nothing. It has greatly affected my health from worring about it. My wifes name is no where on the loans and she has no idea how much Im in deep crap. My question is I still have a few grand in savings, I own a small home only appraised at 33k. Can they take this away from me and is my wife held responsible since she has her own cards and checking account. We also have children still at home and the home is paid for. Even taking out a home loan wont help me since I was recently diagnoticed with fybermyalgia but Dr. wont write me up for disability until he tries different treatments on me. BTW, I did not include the several grand in medical bills. Just wanted to ask before I bothered to go see a lawyer. Im so ashamed of getting to this point in my life and Im not a young person and thought I knew how to manage money. I have worried myself and dont want my family to know how bad a shape we are fixing to be in. Thanks for any advice.


JacobsLawnMowing 03-18-2014 10:04 PM

It is tempting to take the $1000 advertisement no money down no credit check you pay later after you start getting customers, and the $20,000 lawn mower that can compact 100 bushels of grass or go and get a $50,000 pick up truck, luckyly I called it quits when I was only breaking even with advertising it has been two years since and I am now trying to get my lawn mowing business restarted, I am hoping people will remember my name and I can get some of my old customers back I need to spend $500 for a lawn mower and weed eater and another $400-500 on advertising, that will be another $1,000 in debt, I paid off the advertisment out of my own pocket and I am using personal credit and money to pay for my start up cost, but if this doesn't work a 2nd time I don't think I will get a 3rd chance, so after I get my equiptment and first 2 months advertisments and I cant pay for it out of company cash no "business credits offers" I will just have to see if I will make it, I may invest some of my personal money into the business but the business will have to pick itself up soon.

kslawn 03-19-2014 08:12 AM

Do you have any customers now? if you don't mind me asking.

Darksteel 03-19-2014 01:45 PM

I'm doing everything as cheap as I possibly can. If it's not 100% necessary then it's out.


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General Business:
GopherHaul, Podcast
How to Estimate - Services To Offer:
Aeration, Apartment / Condo, bed edging, Color Change Plantings, Dethatching, Edging, Fall Leaf Cleanups, Foreclosed Homes, Gutter Cleaning, Hardscaping, Hedge Trimming, Home Safety Inspection, Irrigation, Landscape Project, Lawn Mower Repair, Mowing, Mulch Jobs, Outdoor decoration, Parking Lot Cleanups, Pet Waste Removal, Pressure Washing, Property Management, Snow plowing, Stump Grinding, Tree Removal
How to Estimate Jobs:
Lawn Care Business:
Barter, Bikini Lawn Care, Business Failure, Business loan, Business Plan, Debt, Debt Collection, Estimate or Proposal Form, Franchise, Fuel surcharge, How to sell, Insurance, Job Tracking, Lawn Care Contract, Lawn Care Customer Survey, Lawn Care Uniform, Lawn Care Videos, Operational Costs, Overhead Costs, Prepay, Pricing, Start up, Tiger Time Lawn Care,
Lawn Care Business Books:
Lawn Care Customers:
Buying customers, Commercial Customers, Customer Retention, How to get, Residential Customers
Lawn Care Employees:
1 Man Lawn Crew, Bonus Pay, training, Your First Employee
lawn care equipment:
bed edger, Lawn Care Truck, Leaf Sweeper, Mower, New Arrival, Trailer, UltraVac
Lawn Care Marketing:
Billboard, Brochure, Business Card, Community Projects To Promote Your Business, Coupons, Cross Promotion / Synergy, Direct Mail, Door hanger, door to door, Free Giveaway Contest, Free Lawn Care Flyer Template, Gift or Discount Cards, home show, Internet, Lawn Care Business Sales Letter, Lawn Care Logo, Lawn Care Marketing, Lawn Care Truck & Trailer Signs, Lawn Care Website, Lawn Signs, Magazine Ad, Magnets, Mailing list, Marketing on Craigslist.com, Newspaper Ads, Parade, Postcards, publicity stunt, Referrals, Review My Lawn Care Marketing Material, t-shirt, Welcoming Kit, Word Of Mouth
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