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View Full Version : how do i come up with the money?


Brighton_blades
12-08-2007, 04:48 PM
*trucewhiteflag*how do you come up with the money that u need to get all the equiptment needed i have the lawns but not the right size equiptment for the job

Brighton_blades
12-08-2007, 04:49 PM
I needit for a larger mower and other equiptment

thesodfather
12-08-2007, 04:55 PM
i would say maybe take out a business loan if you do this ull have to come up with a plan and present it to the bank and they will have to approve that your business will be able to make money but if you want to work for it get a wheelbarrow and a pitch fork and you can make a lot of money fast by doing mulch jobs

ALarsh
12-08-2007, 05:25 PM
Well lets see you save up your money or take out a loan. ???!?

shane mapes
12-08-2007, 07:37 PM
i started out with home cheapo stuff until i could afford to get good stuff. not worth going into debt for a start up..

TCEminowicz
12-09-2007, 12:31 AM
Go to your local mower dealer. They have all kinds of programs designed just for situations like this. There is a finance company called Sheffield. They have different options for financing equipment. One of their best plans is NO INTEREST for 6 months and NO PAYMENTS for 7 months. Obviously you have to have decent credit to get this type of loan, but it is a great way to have some equipment and give yourself a chance to earn some money BEFORE you have to make any payments. I am a dealer in NC and we sell probably 25-30 start up packages a year like this. Almost all of the guys who buy this way are still in business. You can go to www.sheffieldfinancial.com to find out more.

mdlwn1
12-09-2007, 12:41 AM
Hike your skirt up a little...or just tough it out like everyone else did.

lawnpro724
12-10-2007, 02:48 PM
Back when I started in 89 I borrowed money for a string trimmer from family and threw my push mower in the trunk of my car along with broom and started mowing yards. That was a long time ago but it take hard work, good work, and time to build a business up. You can start as small or big as you want, just because you have the best equipment around doesn't mean anything. Sure with all the equipment you can save time and mow larger places but starting small and working your way up takes lots of ambition and drive but you will get to where you want to be. If you go out and buy all the new fancy mowers with a loan and we have a drought again next year how are you going to pay your bills? I have seen more dry summers in the last few years than I have seen since I have been in business.

cmcintosh
12-10-2007, 03:01 PM
Don't know what's available in your state for business development from the government but have a look. For the bank you'll probably need a history of accounting (two years?) for the bank to get a good interest rate so you'll need doc's from an accountant. And if you have no money now, they will not give you more unless you can put up a security like a house. But keeping good credit and fighting for money when you DON'T need it keeps you growing. Best is to work like a bugger all year and ask for money close to your end of season when your account is best. Don't worry though, landscapers are held in the highest of regard at the bank... just above convicts and the homeless.

Stillwater
12-10-2007, 03:19 PM
*trucewhiteflag*how do you come up with the money that u need to get all the equiptment needed i have the lawns but not the right size equiptment for the job

you continue to do the lawns with what you have, saving every dam penny without exception, reduce your cost in every aspect in your life CHARGE THE COMPETITIVE RATE for what you do in everything you do. in other words you pay your business more than you pay yourself without exception......and avoid loans, it takes a huge amount of discipline to be self-employed not everyone is able to do it. the truth is more fail than succeed

Brighton_blades
12-10-2007, 10:09 PM
ive been working for a guy for a couple of years and he was hoping that i could buy his business in the spring if i made enought during the winter

so i should just run the equiptment to the ground in stead of sellin some to get some money out of it for newer stuff. im tryin not to go the loan route but i was told that i might be able to get a grant from the government for expanshion does anyone know how that works

Brighton_blades
12-10-2007, 10:13 PM
and also do sending flyers threw the mail for the holidays work if i went to get a mailing list from the post office trying to get enought people to gain a small profit from new customers

DuraCutter
12-11-2007, 01:44 AM
i would say maybe take out a business loan if you do this ull have to come up with a plan and present it to the bank and they will have to approve that your business will be able to make money but if you want to work for it get a wheelbarrow and a pitch fork and you can make a lot of money fast by doing mulch jobs

Yeah, but what if Bright blades is a 14 year old? Can't get a loan at that age.
I've read all the posts and Blades isn't saying how old he/she is so I'm stabbing in the dark here folks.

One way to get money is to borrow it from people who believe in you. So it's really important to work your a$$ off and show you're serious and then the money people will notice you.

Good luck Blades.

topsites
12-11-2007, 03:40 AM
It is very rare that I sell a product or service before I actually have what I need to fulfill my end of the obligation, it isn't my favorite way of doing business as it puts the cart in front of the horse. It's not that I've never done it, but I do know it's asking for it.

So...
I saved my money for some time (years), until I had enough.
Then I bought the stuff I needed.
Then I went out and sold the service.

I think that is the proper way of doing things.
You could take out a loan, but you're taking your chances.

LushGreenLawn
12-11-2007, 05:34 AM
ive been working for a guy for a couple of years and he was hoping that i could buy his business in the spring if i made enought during the winter

so i should just run the equiptment to the ground in stead of sellin some to get some money out of it for newer stuff. im tryin not to go the loan route but i was told that i might be able to get a grant from the government for expanshion does anyone know how that works

You can't always trust a guy wearing a suit with Question Marks all over it.:)

There is no government grant for expanding a lawncare company. To get a grant you would have to prove that your business is providing a vital service to the community, such as a doctor where there is no doctor, a thrift shop in a poor area where there is no alternative for the poor to buy clothing, ect, or be a non-profit agency.

bohiaa
12-11-2007, 12:08 PM
Yeah, but what if Bright blades is a 14 year old? Can't get a loan at that age.
I've read all the posts and Blades isn't saying how old he/she is so I'm stabbing in the dark here folks.

One way to get money is to borrow it from people who believe in you. So it's really important to work your a$$ off and show you're serious and then the money people will notice you.

Good luck Blades.


Wait a min....


14 year old ?

Did I miss that..... If your 14 you should be worried about getting your homework done and checking out the cute girl that lives down the street.

Leave making a living to your parrents, and for God's sake go to school so that you wont have to push a mower when you get older.

Brighton_blades
12-12-2007, 04:53 PM
no im 21 and ive had the name for 2 years but have had clients for over 6 years until i had to get insurance for a commercail account then i got the name and insurance

J&R Landscaping
12-12-2007, 06:09 PM
Depending on what you have and what you need to expand to, either sell some of what you have now to get some moeny or finance the new equipment.

DoetschOutdoor
12-12-2007, 11:26 PM
How good is your credit? If it is good, why not sell your old equip, use that money as your down payment and get a measly loan. If you can get a good interest rate, you pay little to nothing on a purchase like a mower. I bought my first commercial wb at 19 and the payment was $130 for a little less than 2 years. I'd make double or more payments every couple of months and its paid off before you know it. I'm the same age as you and I've financed alot of stuff so I can have the equipment (and toys) I want and need and to build credit so I can get the larger stuff in a few years. I know alot of guys are against getting loans but its a very common practice and how big of a deal is $120-200/month for the equipment you need to make your money??

DuraCutter
12-13-2007, 01:01 AM
no im 21 and ive had the name for 2 years but have had clients for over 6 years until i had to get insurance for a commercail account then i got the name and insurance

My bad... thought you were younger. At 21, your options are not as limited :waving:

If your credit is not great family is always an option. Otherwise, aside from borrowing, the old standby of working like crazy and saving your money is always there till you have enough to buy equipment. Been there, done that and it took quite a few years to build up. No way around the time it takes.

Good luck

:)

Turf Commando
12-13-2007, 01:14 AM
I'm starting out this spring with a Quick 36 WB
saving up (almost there)... by spring Cha Ching...

A business loan is not wise, buy a decent (used) or new commercial WB mower...

iseegreen
12-13-2007, 02:25 AM
Go into debt its the american dream!

ExclusiveLawnCare
12-13-2007, 03:15 AM
Save up your money alittle more then go buy what you like or want out there. No loans yet.

Stillwater
12-13-2007, 10:09 AM
I know alot of guys are against getting loans but its a very common practice and how big of a deal is $120-200/month for the equipment you need to make your money??

it is a bigger deal than most would think because cash is king. A third of all startups in America fail within the first 4 years. Every first term business student knows to avoid debt if possible............ Be careful...if you do want to finance go to exmark.com they have very good winter buying programs/terms right now.

DoetschOutdoor
12-13-2007, 11:05 AM
Alot of new businesses in this industry fail because guys go out and get way into debt thinking they need fancy mowers and trucks before they have the accounts. I see guys around here all the time that I know are not mowing enough yards to justify having the equipment. If your business fails because you go out and buy that new zero turn, then you picked the wrong profession to start with. I got a new exmark a few months ago and got 0% for 3 years and it will never take me 3 years to pay it off. They are letting me borrow that money for absolutely free!! What is wrong with going this route???? From my point of view, I could have continued to get beat up on a walk behind that was killing my efficieny, attitude, etc. or I could go out and pick up just over 1 more account to pay the monthly payment and help build my credit. Nothing wrong with getting loans as long as you have the accounts to justify it and have the self control to make the payments every month.

And first term business classes tell you nothing about avoiding debt. Alot of business classes are teaching you how to manage debt, account for it or whatever. Cash might be king but can you really not afford to give up 1 account a month in order to get that new piece of equipment that may help you in more ways that 1 ?? Most businesses have loans to get started.

topsites
12-13-2007, 12:30 PM
It really is crazy with loans...
Did you know a bank will not loan in excess of 10,000 to anyone who doesn't own a home and doesn't have at least a B credit rating?
Translated to another scoring system this means a Fico score of I think 720+?
I believe 650 is average, so above average, yeah, that makes sense.

Now I have such a score, better still, mine's fluctuated between 750 - 800+ this year, I have seen I think as good as an 809 but this month it is at 770... If I'm not mistaken 850 is perfect and I'm telling you it don't get much better than this.

Here's where it gets sick: I don't need a loan :laugh:
It's true, much as I could get any loan I wanted it's the last thing I need, I have absolutely no use for it.
But back in the days when my credit score wasn't so hot, I did.

So...
My first and last piece of advice is keep working for other folks and save your money until you have enough, likely it will take some time but look you're well ahead of the game at your age, that in itself gives you room. Save it up, just takes time, at your age you got nothing but, so that's what I would do, save, save, save.

iseegreen
12-13-2007, 12:44 PM
Topsites thats not true. Dont act like you know everything and quit bragging about your credit score nobody cares.

DoetschOutdoor
12-13-2007, 04:01 PM
Topsites, how come in some of your posts you sound like an intelligent guy and then you make comments like the above?? You do not have to own a house to get more than 10k, I have done it twice and I definately dont own a house yet...Only on my last loan did I really know my credit score and that was simply because my online credit card has an updated FICO every month.

What would you do if you wanted to buy a jet ski, motorcylce or another expensive toy? Would you just save it all or what? Your credit score being good has absolutely nothing to do with you needing a loan...it will help when it comes time to get a loan but other than that...

Stillwater
12-13-2007, 06:05 PM
Alot of new businesses in this industry fail because guys go out and get way into debt thinking they need fancy mowers and trucks before they have the accounts.

And first term business classes tell you nothing about avoiding debt. Alot of business classes are teaching you how to manage debt, account for it or whatever.

Cash might be king but can you really not afford to give up 1 account a month in order to get that new piece of equipment that may help you in more ways that 1 ?? Most businesses have loans to get started.

OK Then I must be full of crap then

DoetschOutdoor
12-13-2007, 07:13 PM
When exactly was it that I said you were full of crap??? I know what you mean about alot of guys failing in the first few years but I just dont think that a loan for a new mower or other relatively small piece of equipment is going to bust him. Whats really wrong with this guy getting 0% for 36months on a new exmark or whatever? Is he really supposed to save up $6,000+ and pay at once???

topsites
12-13-2007, 07:23 PM
Like it or not, if I act like my chit don't stink maybe it's because it DON'T.
What I'm telling you guys is the hard way is the only way, it takes 5-10 years and then some, you don't just get up one morning and decide to do things different. That's only the start, once you make the decision you then have to follow through, and by following through I mean once you start on that long hard road you never turn back, that's what I'm talking about.

You think this world is fixing to hand you stuff on a silver platter like every other youngster I see today, heck over half the customers I run into are far older than teenagers and they act like that too, far as I'm concerned not only can these folks fend it out amongst themselves, but they can also prepare themselves for a rude awakening because until such time they sit down and think long and hard about wth they are doing, until that time I want NOTHING to do with them.

Topsites, how come in some of your posts you sound like an intelligent guy and then you make comments like the above?? You do not have to own a house to get more than 10k, I have done it twice and I definately dont own a house yet...

What was the interest rate, and what was it for?
Don't tell me a car, that's collateral!
Try cold hard cash, 0%.

I don't own the house either, I am telling you it is the LAW that banks not give out loans over 10k like that, you can google it for all I care, banks will NOT give signature loans of 10k or more to anyone with a rating less than a B who doesn't own a home!

Geez so I didn't mention all that, well by the time I am through explaining every last bit and piece of information I got a post that's so long winded I end up having to delete paragraphs because it exceeds the forum's character per post limitations!
I put out some basic information, I don't got time to fill you in on ALL the secrets, you gotta figure that much out yourself, but I do know what I speak of.

Only on my last loan did I really know my credit score and that was simply because my online credit card has an updated FICO every month.

How do you think I know mine?
Sounds to me like you could care less, hence yours must be in the average.

What would you do if you wanted to buy a jet ski, motorcylce or another expensive toy? Would you just save it all or what?

Yes.
How do you think I intend buying a 1980's model Ferrari, with a loan?
You gotta be kidding me.
Save 20 grand, on top of retirement, put it away over top of everything else, takes more than a few years.
But it's the cheapest way, I ain't paying all that extra insurance just for a car, pay it and be done with it.

Your credit score being good has absolutely nothing to do with you needing a loan...it will help when it comes time to get a loan but other than that...

You guys are too far gone, just elect Billary as the next president and lets suffer out another 8 years.
And before you tell me presidential terms are only 4 years I'm so far ahead of you I already know you'll re-elect her azz too!

Sundancekid74
12-13-2007, 10:01 PM
I love this... I love the guys that come at you with deep pockets... first thing they do is spend it on nice truck, top-of-the-line mowers, big trailor, and some 60 accounts from their cousin.... thing is they don't like the smell of sweat, the grit in their hands, and a monthly payment they can't afford on all this fancy crap. The truth of the matter is, you can start with $500.00 (assuming you have a truck of any kind). You buy a used commercial walk behind and make some home-made ramps to load and unload your mower on your truck. I don't care if your a retired crack addict fresh out of rehab, you can borrow $500.00 from immediate family and pass out home-made fliers. The reality of the wheels spinning comes with a hard work ethic. It takes more than $$$!!! I can't tell you how good I feel at the end of the day, when my clothes are soaked with sweat and covered with mud, my customers are satisfied, and the lines in the yard look like the sun setting in the horizon. Thanks... Joe Dirt/Sundance Kid (lawnsite.com): Horizon Lawn Care.

DaveinSWFL
12-14-2007, 09:14 AM
I hear alot of folks on here that talk about how you can start in this business with $500 an old rusty truck and a old rusty mower. That maybe true where you are at but it doesn't fly down here. You pull that rig into some of the communities down here you will be laughed at and asked to leave. It is about image, professionalism. If you come accross as a professional : top of the line equipment, trailer & truck you will get more respect which leads to the accounts that you want. I have invested quite a bit of money in my business and it is paying off. I have picked up accounts in the neighborhoods I want to be in as well as commercial accounts. My point is if you don't invest the money in your self/equipment how do you expect anyone to take you serrious? Look and act like a professional and more doors will open for you. Just my opinion.

Stillwater
12-14-2007, 07:18 PM
I hear alot of folks on here that talk about how you can start in this business with $500 an old rusty truck and a old rusty mower. That maybe true where you are at but it doesn't fly down here. You pull that rig into some of the communities down here you will be laughed at and asked to leave. It is about image, professionalism. If you come accross as a professional : top of the line equipment, trailer & truck you will get more respect which leads to the accounts that you want. I have invested quite a bit of money in my business and it is paying off. I have picked up accounts in the neighborhoods I want to be in as well as commercial accounts. My point is if you don't invest the money in your self/equipment how do you expect anyone to take you serrious? Look and act like a professional and more doors will open for you. Just my opinion.

As the years go on you will come to find that image and shiny new equipment is just 1 piece in a 5000 piece puzzle. That no logo embroidered jacket will help you solve

DaveinSWFL
12-15-2007, 10:16 AM
I agree with you. But it is one of the pieces that make you stand out from the rest. The first impression.

Stillwater
12-15-2007, 12:18 PM
I agree with you. But it is one of the pieces that make you stand out from the rest. The first impression.

Thats good as long as you don't think the first impression is the most important thing you have.