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Starting a lawn care business. How to start a lawn mowing business, lawn care business, or landscaping business. If you are starting a lawn care business, ask your questions here.

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Starting a lawn care business.

How to start a lawn mowing business, lawn care business, or landscaping business. If you are starting a lawn care business, ask your questions here.
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  #11  
Old 01-16-2011, 07:01 PM
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I will never borrow money. Even if that means I have to go slower. Not worth the stress or risk.

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Old 01-17-2011, 02:34 AM
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my debt is now 7% of my Capital assets
Do you feel there is a % range that business owners should allow themselves to be within where after you exceed it, the debt % becomes dangerous?
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Old 01-17-2011, 04:57 AM
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Do you feel there is a % range that business owners should allow themselves to be within where after you exceed it, the debt % becomes dangerous?
For any business your debt payments should not exceed more than 15 to 20% of your net income, that is just my opinion, finance companies, banks etc will go much higher.

Depending on what we are buying and what our marketing plan is, experience etc. it can be next to impossible to achieve objectives without debt, for example to save for an $80,000 excavator could take years, at the same time we could finance it and have it paid for in 1/3 of the amortization time of a loan.

There are many ways to raise capital also, issuing capital in your company, angel investors using promissory notes tied with a rate of return tied to year end profits etc.

For those starting out with no experience in owing their own business, it's best to stay out of debt until you have a couple of years under your belt, take on debt slow to grow, pay it off. Don't get wrapped up in low payment offerings, 0% interest etc.
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Old 01-18-2011, 12:59 AM
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For those starting out with no experience in owing their own business, it's best to stay out of debt until you have a couple of years under your belt, take on debt slow to grow, pay it off. Don't get wrapped up in low payment offerings, 0% interest etc.
So ultimately it's better to just use some cheaper gear for the first year or two and even if it takes you longer, you will be learning a lot during that time and not slowly hanging yourself with a rope made of debt?
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Old 01-18-2011, 04:45 AM
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So ultimately it's better to just use some cheaper gear for the first year or two and even if it takes you longer, you will be learning a lot during that time and not slowly hanging yourself with a rope made of debt?
Again it depends, if I were just starting out and say pressure washing or I have a lawn mowing business and I want to add this service, if I had enough customers interested that the profit from their jobs would pay for at least 25% of the washer, I would buy/finance it. Lawn spraying, chain saws etc. same thing. In my case if I had business or additional work lined up and needed more equipment, I bought or financed it.
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