View Full Version : I might get out of the biz!
03-22-2007, 08:58 AM
This season will be by second full-time year of running my own business. I have made a lot of money and bought a lot of equipment and supplies.
Last week a few local politicians asked me about running for Highway Superintendent for the Town. I come from a small town, about 6-7,000 pop. The job pays well, 55,000 plus benefits and a truck. The person who hold the position now has been there for at least 25 years and getting worse at the job. No one has run against me the last few elections.
Elections are in November. What do I do with my customers and equipment? I would like to sell them to a friend of mine but for how much? I grossed about 100K. I have two toro Z's, 1 snapper wlkbehnd, skidsteer, 2 trailers and a 2006 F-350 dump, plus all the necessary small equip.
I would like to keep some stuff and get rid of the rest. Keep some good customers and get rid of the rest.
If I run, I might not win, then what. How much to sell? Thanks Mike
03-22-2007, 09:22 AM
Since the election is in Nov, and the season is winding down by that time. Can you juggle both at least until you know you're elected?
I'd go for the Gov. job. You can't beat the workload, benefits and pension of Uncle Sam. Since you are elcted to this position, what type of job security do you have? Are there "term limits"?
03-22-2007, 09:54 AM
You can always pay someone to run your route for you and still make a little extra money from the lawn biz without giving it up, just in case the job doesn't pan out. This way you still have your bisiness to fall back on in case of an emergency.
03-22-2007, 10:26 AM
I agree with MetroLawn, try and get someone to run the business, it sounds like a money-maker.
Just curious...how is a town of 7000 people able to pay $55k plus benefits for a road commissioner?
03-22-2007, 10:35 AM
I would definitly try to hold onto your business if at all posible. You should be able to get someone to work your route and such.
03-22-2007, 12:50 PM
Keep the business. Find someone to run it. If need be put your share of the earnings into a trust when you get out of office.
Then you have to get elected. Politics is so fickle.
03-22-2007, 01:04 PM
My question to you is if you win the election in November wouldnt the job start in the new year, meaning you would be able to finish the season and know if you got the job or not. I could be wrong, but usually appointed positions start the first of the year. Otherwise, I'd hold on to your route, pay your friend to run it for a while, do what you can, this way you can break your friend into the business before you sell it to him, if you have too, but dont give it up yet.
03-22-2007, 02:06 PM
Keep the business and scale back. Way to profitable to get rid of completely. Tax breaks, tax breaks, tax breaks. What an incentive.
03-22-2007, 02:08 PM
Id keep the Business and hire someone to do your route as you do the Superintendent job
03-22-2007, 07:13 PM
Keep the business, have someone else run it and use the gov cushion to build the business and sell it for retirement.
03-22-2007, 07:32 PM
Everyone makes it sound so easy to find someone else to run the business. That is so much easier said than done. I tried this before and you have more phone calls and headache this way as far as I am concerned. I had good help and paid good but your customers are used to you on their properties and they aren't satisfied unless you are there.
03-22-2007, 08:12 PM
It is a 2 year position, I do not know how they pay that much and don't care how they get the money! I could get a mowing season in, election is in November.
I do have a friend whom is interested in running the business, but how reliable would he be,I don't know. Nobody can do the job like you(the owner) can. I could pay him well, like $20/hr. He would enjoy that.
I'll have to it give more thought. Thanks for all the input, I need all the advice I can get.
03-22-2007, 08:17 PM
If you have the company - maybe employee's, have your crew leader run the show - your the owner - easier said than done I realize but a two yr term - keep the biz, restructure the biz but don't sell outjust yet.
03-22-2007, 08:50 PM
I got out and went back to school now a stock broker still have the business everything going good!
03-22-2007, 08:57 PM
Christmas 79, Did you have a LCO, then went to school, then become a stockbroker and now you are doing both? How much time did you take off from your lawn business? How many customers did you lose, and how many came back to you?
03-22-2007, 09:16 PM
Mike, I did have a lco and went to school at the same time it was hard but in the long run it all work out! Yes I am doing both I'm a trader at the Chicago Mercantile Exchange from 7:00 a.m.-3:00 p.m. then i work doing landscaping 4:00 p.m.-8:00 p.m. I got out of the grass cutting just do mostly landscaping jobs.
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