Thread: Loans?
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Old 10-11-2012, 08:43 AM
32vld 32vld is offline
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Join Date: Feb 2011
Location: LI NY
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Quote:
Originally Posted by KS_Grasscutter View Post
Joe Lawn Care Guy brings in 3k a month mowing grass. Joe can bring in 6k a month if he buys a 60" zero turn to use on an account he was just offered. Joe waits to buy the mower, pays cash. Doesn't get the account obviously since he waited, then the transmission goes out in his truck and he can't fix it cuz he used his cash on his mower. Mark Lawn Care Owner financed a Walker Super B when he picked up the account Joe passed on. His transmission also went out. He paid cash to fix it, because he still had his cash in the bank, at the cost of .99 or 2.99 percent on the mower. Mark then buys out Joes business since Joe couldn't fix his truck. And since all storied have happy endings, Joe gets to mow the fancy uber high end office complex account, with a brand new 60 zero turn... Since he now works for Mark. Don't be Joe. Finance a mower, make money, pay it off.
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Joe is out of business not because he waited to buy a mower. Joe's out of business because he did not take that job when offered and use what equipment he had. If he had to work longer days, so be it.

Now Joe could of went out and bought that new 60 mower as you strongly advised him to and be on the account a month and through no fault of his own lose that account. He's made 1 payment on a 48 month loan with 47 more payments to go and no way to make them. Bank goes to court, sheriff auctions off Joe's assets.

Joe is now out of business, out of assets, and out on his ass following your business model.
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