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  #181  
Old 11-27-2013, 05:55 PM
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McFarland_Lawn_Care McFarland_Lawn_Care is offline
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Great point 32VLD. However, I believe asset purchases are not involved in the income statement. Net income should not change. I may be wrong, but I'm pretty sure that is what accounting is about. You can still deduct it on taxes etc and depreciation would be subtracted as an expense, but not assets. Theoretically you still have that same "money from the income" it's just in the form of a shiny mower or truck or whatever. Now, as it looses value, THAT's an expense. See what I'm saying? I may be off a bit, but the bottom line is, you are right - how businesses "figure their profits" and share their info on here could be all over the place!!
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  #182  
Old 11-27-2013, 05:56 PM
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McFarland_Lawn_Care McFarland_Lawn_Care is offline
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"Numbers do not lie.

Though liars use numbers to lie with."

Great point!!!
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  #183  
Old 11-27-2013, 10:37 PM
JCResources JCResources is offline
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great thread
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  #184  
Old 11-29-2013, 12:32 PM
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Groomer Groomer is offline
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I bought a new truck this year.

I have no idea how much money I made.
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  #185  
Old 11-29-2013, 04:12 PM
ryde307 ryde307 is offline
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Join Date: May 2009
Location: Shorewood, MN
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I read the first 10 pages of this thread or then realized it was old. Skipped and read the last 2. It's funny how these threads go. Landscaper I understand your point in making it. I have done my best to sift through the BS and find some of the bigger companies on here. I would say Jim is one of them and has lots of great stories, advice, pictures to follow. Alot of others bigger ones come and leave quickly.

I have a picture thread that has a bit more of our story but to your original questions:
The business was started by a friend 13 years ago or so. He never did anything with it. I joined 8 or 9 years ago I think. Started to take it serious 4 or 5 years ago.
2012 was at the 500k mark 2013 will be between 600-700k
7 summer employees winter 3 full time 1 mostly full time and on any snow event 20-25 counting subs.
Trucks again lots of pictures in picture thread but mostly Ford, Exmark equip, Cat, and some Bobcat stuff.
Profit I don't have in front of me but 10-15%

The thing about these threads is everyone jumps in and says Gross means nothing its all about profit. I understand the idea they are pushing but profit is about the easiest number there is to change. You and others have gone about explaining why a company with 5% profit may be worth more than a company with 20% profit so really no need to keep going.
I believe for the purpose of this forum and comparing company A to B Gross is more relevant than anything. to hit certain marks 500k, 1M, 2M ect if you took 10 companies at each mark I would guess they are very similar in amount of employees, equipment ect. It gives you a mark of companies that are or have probably gone through similar situations to your own.
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  #186  
Old 11-30-2013, 07:56 AM
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Landscraper1 Landscraper1 is offline
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ryde307, your right about the profits vs gross. Near the end of each year, I struggle to reduce that profit as much as possible, to pay less taxes. I meet with my accountant to go over the numbers and see what needs to be done. By the end, we only show a small profit, on paper. Just the way I like it.
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