double income is always a great way to go. $58,000 dollars is definitely doable, but IMO you would have to have a gross profit of over 145k to take home 58k. At leased for me that is what my numbers look like.
A lean, no debt business with two full time(March-November) employees can easily be managed to complete a lawn route with minimal downtime and paperwork time if done correctly.
5 days a week, from March 1st to Nov 30th (around 36 weeks on the high side including spring and fall clean ups)
36x40 hours per week x $12 per hour for decent work x 2 guys= $34,560
In my area, 80 man hours can complete about 120 lawns. (12-20 minute lawns on a tight route). These lawns range from 20-30 per cut. So lets say average of 25 dollars for this experiment.
25x120 lawns: $3000 weekly, $12,000 monthly from April-October and Double income from in March, November, and Half of October doing spring and fall clean ups, and all the extra add on maintenance work including gutters and aeration)
For a full 40 hour two men crew(80 man hours)
October: $18,000 ($12,000 plus $6k in extra work)
TOTAL GROSS BEFORE ANY LIABILITIES: $138,000
Truck Insurance: ($1500)
Business and Liability Insurance: ($800)
Back-up Truck Insurance: ($900)
Oil, Blades, String, Filters, Misc Parts for machinery: ($3,500)
Truck Maintenance: ($3500)
Dump Fee's : ($1500)
Yearly Massive Breakdown: ($2500)
Paper, Envelopes, Ink, Carbon Copies, Business Cards, ECT): ($1500)
Your left with: $72,050 Before Taxes
TAX MAN: (%25-30%)
NET PROFIT: $53,050
If you are driving a company car as your personal vehicle you can add what you would have spent on a car payment in to that(350 per month x 12 and insurance: $4200 plus insurance)
Subtract health insurance and retirement from this number as well if you are going to need both of these(which most people want but dont need)
If you are using your company phone for a personal line as well you can add that back in: $2000 yearly for a decent, 1500 min plan with two phones)
Subtract any new purchases/investments you want to make and deduct that from your taxes
You are left with right around 55-60k.
If you are in the field, deduct or take home your 17k in labor, if you are working another job while doing this , add that payroll in as well.
My plan as a business owner is to get a MBA in Business, find a good accounting firm and look for the starting salary of 60-80k while i am running a two- three crew landscape business(Sales just under 450k) Once your company is established you can hire a receptionist and an office/crew manager to take over the estimations and paperwork. Its more overhead but its less work for you. Then your business is running itself. Granted a business needs the owner around, you don't have to be in the field and can work off your phone and quality control.
This is becoming a ramble on post, but if you cant get sales up to 140k(which took me 6 years to do, we are now at 245k in sales) there is no point in quitting your salaried job. 58k is a lot of money. Sure your not rich, but your not living paycheck to paycheck unless you bought a huge house and have car payments and cc debt and bad investments.
58k / 12 is almost 4,800 per month before taxes.
Try doing both, find a good college student in your area that needs 20-30 hours per week tp do your lawns while you are working. Paying out 300 per week when you are making that in lawns, as pocket money, is a lot better than leaving a salary paid job. Do both and see if you can manage.
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