View Full Version : How long did it take to reach your 1st $100k a year, YEAR?
Kevin Graham (KG)
08-28-2000, 03:10 AM
How long did it take to reach your 1st $100k a year, YEAR!
Im sure you BIG-timers have sur-pass that many times over, but how long did it take for your 1st :)100k a year, year?
If not $100k then what about...
If you have not reach that point, do you expect to and when 4,5,6yrs into the bizz???? just asking!
[Edited by Kevin Graham (KG) on 08-28-2000 at 06:57 AM]
We reached the 100k level few years back. My goal is to try to gross about 50k more each year(we did 154k last yr)to the point where im at about 250k. At that point Ill probably level out....the profit margins go down as your company excedes this point. My goal is not to have the largest company and the most toys...rather large profits that I can invest. By going at it this way, ultimatly my investments will be paying me while I sleep.
08-28-2000, 09:47 AM
Probably the most brilliant 1st post I've ever read.
08-28-2000, 10:37 AM
I net after expenses before taxes over twice my regions
average yearly wages in 8 months by the fruits of my own
labor (no employees).
You need one million in sales to make the owner 100g's net.
Labor overhead and assorted red tape BS eat up all the profits.
08-28-2000, 10:52 AM
Most of the guys I know that make $100,000 net income have a gross of 250-400,000.
Kevin Graham (KG)
08-28-2000, 12:45 PM
I agree with Kent, if you only pocket $100k (net) from a million dollars(gross) something is terribly wrong, big time! i mean, you are only getting 10 cent off every dollar you earn. Man, thats the worst $100k i've ever heard of...
[Edited by Kevin Graham (KG) on 08-29-2000 at 01:41 AM]
Mr. Stone according to my calculations you must be making $60/hr on average 10 hrs/day 5 days/week 8 mo/yr to clear 100k before tax's. CHA CHING . Great job. If you can do that send me an e-mail I would like to buy you dinner and find out how you do this. I am in southeast Pa can't be anymore than 1 1/2 hrs from the farthest points in Jersey.
08-28-2000, 09:49 PM
No 100,000 a year is a bad 100,000. (Unless you live on the East Coast, then it's poverty level!)
08-28-2000, 09:50 PM
You probalby wont believe me but my second year i only made about 16K. This year if things go well in the last couple of months, then i expect to reach between 45 to 50K.
I had a good year.
08-28-2000, 11:08 PM
1st year 75k. second 170k. Looking for 300k in 6th year. Probably won't make it but it keeps me trying. Set high goals!
08-29-2000, 08:18 PM
Grossed over 100 k second year, net?Not much. If your friends are telling you they netted 100k from 250-400k gross they're full of s. Unless they are doing all the work themselves with no overhead, no way they getting that much and no way they're grossing that much working by themselves in this business. Somone else posted they were making 70% profit before, i still don't believe it.
08-29-2000, 08:27 PM
The labor burden alone is between 25% and 50% of gross depending on your systems and management. Then figure overhead and operating expenses. It has taken eleven years of building for me to see the highest return for MY LABOR is alone... .BTW . year1=16k, 2=70k, 3=115k
70% profit?? or even 30%??? You guys should try working in a retail grocery store once gross grocery profits of 3.5 to 7% Gross...makes you learn quick you become a buisness man not a laboror in a hurry....
08-29-2000, 10:08 PM
It depends on what kind of work you do, I guess.
I have a landscape designer associate who bills 120k+ per year and total expenses less than 15k annually.
What's her profit margin?
If you work by yourself and include your labor with your profit figues, you'd better make 70%.
What the *(#& does a grocery store have to do with lawn care. Ever hear of cost of goods sold?
08-29-2000, 11:09 PM
Grocery business is not comparable to the green industry since it is not seasonal and also the goods are essential commodities. They do not get shut down because of weather etc.
On every dollar you are making .70cents......that is well almost crazy...On every dollar I pay 31% tax I make...hmmmm before equipment, office, building, health ins, workers comp, employee pay...and other general expenses.......I would love to see that buisness plan if it is avaliable.....I would be interested in the forcasts for sales..over two years...I need to be adjusted to that kind of profit!
08-30-2000, 01:50 AM
100K!!! I know that lots of you are making that and better but I've been happy making lots less. But Im very excited about next year, I handed out over 50k worth of proposels today, ALL of them on a 1 year,1 payment per month contract. I have done the projections and made the allowences and Ill make pretty good, especilly considering the everdepressed economy in my local.
08-30-2000, 02:19 AM
If you pay 31% tax BEFORE your equipment, building, insurance, etc. then you should NOT be in business.
vBulletin® v3.8.6, Copyright ©2000-2016, Jelsoft Enterprises Ltd.