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lawnwizards
09-25-2005, 08:37 PM
if you could work 5 hours a day and gross $200.00 would you be content? keep in mind, this is for small lcos. also, this is coming from a family man's point of view. 5 hours a day 5 days a week.... $1000.00 gross? would you? be specific as to why or why not with your answers. thanks.

Nosmo
09-25-2005, 08:46 PM
If I had a wife and 2 kids - No. $1,000.00 per week gross
less expenses would be in the neighborhood of $700.00.

$700.00 x 30 weeks approximately cutting time is $21,000.
Which is the net business income. Now income tax and
self employment tax (estimated tax payments) is going to whittle this down a lot.

Family expenses, mortgage payments and car payments are going to whittle it down to very little left if any.

Nosmo

SWD
09-25-2005, 08:46 PM
No way!. By the time you subtract all the necessary overhead expenses, $200 a day isn't worth it at all.
You need to come up with a detailed list of ALL the expenses you have in order to answer your question for yourself.
I'm relatively confident that once you completely assess your overhead, $200 a day, or for five hours isn't worth it.

1MajorTom
09-25-2005, 08:46 PM
For 52 weeks or just a regular 32 week cutting season? Either way no, it wouldn't be enough money to sustain our lifestyle especially with 2 growing kids. The older the kids get, the more expenses the household incurs.
This week alone we put out an extra grand having to purchase class ring, school photos, birthday presents for our 5 year old, etc.

lawnwizards
09-25-2005, 08:49 PM
this is just a hypothetical question. doesn't pertain to me. but say the season is 40 weeks. and your spouse makes around 30,000 a year. bills all add up to 1500 a month.

Jpocket
09-25-2005, 09:40 PM
Even Being single, and living at home $1,000 a week is alittle low. But a single person could make that work very well. A family man NO way you could qualify for food stamps

DSIM
09-25-2005, 09:42 PM
$200 a day sounds good to me for 5 hours. No kids here though. Only me & the wife. I only work 4-5 hours a day during the summer here in Texas. Thats all I can stand now that I'm 38. My wife has two jobs, so that helps.

I'm looking into getting into real estate or home inspection to supplement soon.

QualityLawnCare4u
09-25-2005, 10:06 PM
In my area a 1000 a week is considered wealthy. Some days I work less than 5 hours and make 200 and other days it may be less hours and less $$$. But to answer your question I would be very happy with it.

olderthandirt
09-25-2005, 10:11 PM
No......... Why settle for $1000 when you can make $2000

Sharp Services
09-25-2005, 10:18 PM
I am a family man ... with six kids ... so I know that kids are very expensive. There is no way I would settle for $1000 a week, even with the wife working. Familys are very expensive (College, food, shelter, toys - some for the kids too, medical bills ....)

I would not think that would be enough.

Nosmo
09-26-2005, 08:58 AM
First of all $1,000.00 is the gross. Taking into consideration the business expenses and estimated tax payments you are only going to have a little over half of this to live on.

So 40 weeks x 500.00 is $20,000 and your wife's yearly income of $30,000 (less withholdings) is about $24,000.
So the total estimated disposable income is $44,000. If
the total bills for the month are $1,500 ($18,000 a year) this would leave an estimated $26,000 for spending or some saving.

I'd say this situation ain't too bad.

Nosmo

daveintoledo
09-26-2005, 09:09 AM
i couldnt do it, id have to work 8 to 10 a day..... just to feel like im doing my part to help the family, now with those added hours i could probably get by with the wifes income also....

bobbygedd
09-26-2005, 09:56 AM
sure, why not. i wouldn't do it though as my sole income. and i'd have to have the overhead so low, that it cost me maybe $30 a day, to gross that $200. this leaves you $170 a day. pay yor se tax leaves you about $140 a day. you have kids, deductions, etc, you'll pay roughly $20 of that in income tax. this leaves you $120. what's that, $25 an hour, CLEAR? not too shabby. but, you need to have other things going too, another business or two pulling a similar income or higher

olderthandirt
09-26-2005, 11:05 AM
sure, why not. i wouldn't do it though as my sole income. and i'd have to have the overhead so low, that it cost me maybe $30 a day, to gross that $200. this leaves you $170 a day. pay yor se tax leaves you about $140 a day. you have kids, deductions, etc, you'll pay roughly $20 of that in income tax. this leaves you $120. what's that, $25 an hour, CLEAR? not too shabby. but, you need to have other things going too, another business or two pulling a similar income or higher

Could get one of those terrible UNION jobs and make $25 an hour plus bennys.
You would have to have a second job or income to live on that $1000 a week.
Now if you worked 10 hrs a day and doubled it to 2 K a wk with the low overhead you could clear about $45 an hr. after paying for bennys that nets you around $35- $38 an hr. not making you rich, but respectable income.

bobbygedd
09-26-2005, 11:27 AM
oh, for sure you'd have to have other forms of income. my question is though, why is it taking you 5 hrs, to gross only $200? for the lawns we mow, at $30 each average, you'd have to cut 7 a day to gross $210. even at a snails pace, drinking a beer, i can do 7 solo in perhaps 3.5 hrs, at an expense of perhaps $20 a day. only 7 lawns a day? a used 36" walkbehind, a backpack blower, a wacker, 2 small gas cans, an old beat up economy truck, and 2 pieces of wood to get the mower on and off the trailer. screw the insurence.

K.Carothers
09-26-2005, 11:56 AM
No......... Why settle for $1000 when you can make $2000

Why settle for $2000 when you can make $3000?
Why settle for $3000 when you can make $4000...and so on
Why settle?

It boils down to being "content". How much do you need to live? What kind of lifestyle do you want? Are you a good budgeter? Do you have a financial map that you are following? Do you try to keep up with the Jones (remember they are broke). Do you have a fully funded emergency fund? Are your ducks in a row? Its a subjective not objective view.

jtrice11
09-26-2005, 12:31 PM
if you could work 5 hours a day and gross $200.00 would you be content? keep in mind, this is for small lcos. also, this is coming from a family man's point of view. 5 hours a day 5 days a week.... $1000.00 gross? would you? be specific as to why or why not with your answers. thanks.

Yes, that's decent money. Would you have another job?

olderthandirt
09-26-2005, 12:46 PM
Why settle for $2000 when you can make $3000?
Why settle for $3000 when you can make $4000...and so on
Why settle?

It boils down to being "content". How much do you need to live? What kind of lifestyle do you want? Are you a good budgeter? Do you have a financial map that you are following? Do you try to keep up with the Jones (remember they are broke). Do you have a fully funded emergency fund? Are your ducks in a row? Its a subjective not objective view.

Answers is still the same, NO. If I'm subjected to work for $40 an hr gross it won't happen, those are the rates from 1985-1990 remember were talking gross. And to your question of why settle ? Because if you don't you will die working, but I do agree that the point you settle at is where your "content"

At $2000K a wk X 52 weeks = $104k a yr gross
And I"m "content" at 100+K a yrs personal income :D :D

Nosmo
09-26-2005, 12:47 PM
The second question he asked was about the $1,000.00 gross per week , his wife's income of $30,000.00 (before taxes) and $1,500.00 in monthly expenses.

This family is going to have about $26,000.00 to spend after all business expenses, business related taxes, income taxes and the other $1,500.00 per month expenses have been paid.

He wants to know would you or wouldn't you do it if this is all the income both of them have.

That ain't bad having $500.00 a week to spend or save after all bills etc. have been paid.

C&KLawnCare
09-26-2005, 12:59 PM
Glad you guys arent out Driving dump trucks for someone , Hauling out of greer driving for someone else , you would make 100-150. a day . LOL i wont say what the truck makes but its way better than 20-25% gross of what ya haul lol

And thats working 8-12 hrs a day . some of these guys start at 3:00 in the morning . Hell yes id take 5 hrs for 200 bucks . some people are to damn picky
Thats 40.00 an hr

Of course i dont turn down as many jobs as i see some say they do here either

1MajorTom
09-26-2005, 01:07 PM
When I answered the original question, there was no mention of the wife making 30 grand.
It's all in what you want out of life, what you consider to be important, if working only 25 hours a week is what you want to do, because maybe spending time with your family is more important, then go for it.
For us, at this stage in our lives, and with the business being seasonal, working more hours when the money is on the table, is what we choose to do.

PMLAWN
09-26-2005, 01:12 PM
Even net for 52 weeks a year . No. Could not live on that. And would not want to.