some info on building my business

[mhaysmow]

Hey everyone im new on here im 19 and have been mowing lawns since i was 16. im going to college right now to get my degree to do this for life i will be licensed once i finish with scoo (if i can make i hate scoo) anyway i have about 25 solid accounts and 7 here or there jobs trough summer and winter.
i got a offer to maintain 29 apr. complexes next year its 13 hours with a 5 man crew. in order to do it i will have to get insurance i know i need it but dont know how to get it or what kind to get also if you have any tips about taxes i have software that will add the taxes and project my annual amount but what all can you use as perks and right offs if i get the job next spring my business will be set for a great start ..... thanks for the help

mitch

2002 silverado 1500 if i get the job ill buy the
2004 croft 6.5x12 equip. needed for the job its 2
2004 52 stander hustlers with trailer trimmers blowers
48 hyd walk behind encore etc...
billy goat leaf vac
toro push
2 straight shaft trimmers stihl
stihl blower and chainsaw
48" plow for walk behind

[steve122]

1st thing comes to my mind:
Do you have the cash or line of credit to make payroll and expenses for 2 months while you wait for payment from these apts. to pay for 1st months cut? You're going to have a large chunk of money out on payroll, payroll taxes, fuel and equipment before you get 1st payment from these guys. Many an business has really struggled because of cash flow problems.
Taxes? hire a good bookkeeper or accountant for the first year or two, your going to be too busy mowing and making sure the crews are performing, plus doing the equipment maintainence at night to have time for bookwork. You miss a payroll tax payment and penalties aand interest can eat you alive.
Do you have enough equipment to keep 5 guys moving? If not, now you have to make payments on lots of equipment. More cash out before big payments come in. When I have to add more equipment to cover a new contract, I set up payments so that the equipment is paid for when contract if over so I don't have a payment left over when the income from the contract dries up. I always hope to replace income, but if I can't I want the equipment paid for. Just my way of doing it.

[mhaysmow]

thats great info ive got good credit and can buy about what ever i want or need had to many toys since i turned 16 but im tryin to save the money to by the hustlers and trailer etc.. for the job ill get it all at a good cost with the stuff just broke in at 150 hrs.... im not to worried about payin my workers cause i will do alot of the mowing along wit the few others it will only put a small dent it what ill make for the week.... but curious whats it cost to get a accountant or bookeeper cause that is one thing i know i will need having so much other stuff to maintain.
thanks
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2002 silverado 1500
2004 croft 6.5x12 open trailer all the racks
2004 52 stander
48 hyd walk behind encore
billy goat leaf vac
toro push
2 straight shaft trimmers stihl
stihl blower and chainsaw
48" plow for walk behind