Originally Posted by Set Apart Lawn Care
Just to clear a few things up, I am talking about your net income, after taxes, expenses, etc. how much money do you bring home. My average yard is $38 per cut, out of 120 yards we probably mow 80-90 a week in the growing season + landscaping. In Memphis we have a 7 month season that I may gross $84,000, but I dont just make $84,000 (dont get caught up in the math, these are rough numbers) minus the cost of gas and employee wages, there is a lot of other overhead to keep this going year after year. I have thousands of dollars worth of equipment that has to be replaced every few years, truck note, gas, insurance, workers comp, cell phone, equipment maintenance, ADP payroll fees, unemployment tax, etc.
So again if anyone is making $50,000 net, what does your business look like? how hard did you work and how long did it take to get there? Same questions if you do this part time and make $24,000 a year like I've been taking that last couple years, or you make $200,000 and have multiple crews. I am wanting to know where I need to be in 10 years business wise and if that lines up with the life I want to provide for my family in 10 years.
Hopefully that was clarifying
This still leaves a large hole. It depends on how rich of a life style you want to live and what your family is happy with. The way the economy has been and where it's going is anyone's guess. Knowing where you'll be in 10 years is hard to say. You may want the big sport boat and fancy travel trailer along with all the other toys. Then you have the wife and her wants/needs and the kids. Do the kids have to have Under Armor-everything? It all depends on the life style you want to live.
There's a saying, "the more you make, the more you spend". If you're fickle with your money and your family can live a life style of necessity and not "want" then you'll more then likely do fine.