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Old 04-20-2002, 04:14 PM
RV_Landscaping RV_Landscaping is offline
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Join Date: Apr 2002
Location: Cleveland, OH
Posts: 30
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Hello,


I'm a fairly experience (young:-) lawn-care service provider... I've been mowing for my parents, and neighbors since I was about 12/13 years old (just turned 18 a few weeks ago).... My little business has been up and down...but never more than 7 or 8 accounts...Usually around 5 full time and a few part-time. For the past 2 years i've been toying with the idea of expanding....Because I enjoy being outside/landscaping...I need to keep making money while I attend a local school...And, i need to be able to have some flexibility in hours (my current job...doesn't offer)...Anyway, i have two real questions here, the first is: Is it REALLY necessary for me to Incorporate (LLC whatever), get myself liability/insurance, etc?
In the past I've been able to work for either people I know...or work out some sort of release in terms of liability (usually through my parents)....I've been told that even getting customers to sign a release etc. Isn't enough...and that liability insurance is a must--for someone like me with a small business is that true? I understand the incorporating thing...its smart because then they'd go after the business, not the person, if something happened--but in terms of liability--I really don't know anything:-)

ALSO, in terms of equipment costs. I have some free cash, but not enough to go purchase a new trailer and another mower (which I would need).... Can anyone give me any suggestion on getting funding/loans? As it is currently my 'business' is only pulling in around 5k a summer... And I'm guessing I won't get any loans based on that small a company income...but, I don't really know.

I know its kinda a lot...but any info regarding these questions would be great....I've searched the boards but haven't found too much specifically regarding rhese questions. Thanks!

-Rob
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Old 04-20-2002, 06:59 PM
Sean Adams Sean Adams is offline
 
Join Date: Jun 1999
Location: Pennsylvania
Posts: 3,623
Rob,

I'm sure others will join in and offer advice in regard to several of your questions. In regard to insurance, I think that all will agree - It is a must. It may be considered (by some) to be one of the greatest wastes of money you will ever spend - simply hoping that nothing will happen. However, the peace of mind and security that comes with insurance is reason enough alone. If you turn the bend, swing a corner, and fling a rock and hit someone or something (simple example), the consequences could be severe. Someone coming after you for a resolution could cost you. Do you have a few hundrd thousand laying around? Most do not. If you find the right agent, they can match your policy to your needs. It is an expense worth paying. I'm sure if you search this site and simply search for insurance topics, you will find a wealth of information.
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Old 04-20-2002, 07:02 PM
RV_Landscaping RV_Landscaping is offline
LawnSite Member
 
Join Date: Apr 2002
Location: Cleveland, OH
Posts: 30
Quote:
Originally posted by Sean Adams
Rob,

I'm sure others will join in and offer advice in regard to several of your questions. In regard to insurance, I think that all will agree - It is a must. It may be considered (by some) to be one of the greatest wastes of money you will ever spend - simply hoping that nothing will happen. However, the peace of mind and security that comes with insurance is reason enough alone. If you turn the bend, swing a corner, and fling a rock and hit someone or something (simple example), the consequences could be severe. Someone coming after you for a resolution could cost you. Do you have a few hundrd thousand laying around? Most do not. If you find the right agent, they can match your policy to your needs. It is an expense worth paying. I'm sure if you search this site and simply search for insurance topics, you will find a wealth of information.
Thanks....yeah, i'll search that too....
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Old 04-20-2002, 07:23 PM
AK Lawn AK Lawn is offline
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Join Date: Mar 2002
Location: Alaska/ Colorado
Posts: 186
Rob-
Well first off good luck, i am a year older then you and at one time i was in your shoes. You are able to get a bank loan, i did esspecially from smaller banks that like to help out, you parents may have to co-sign, futher more just keep a sole-propietorship for know not worth the costs of LLC, but is an option later, i personally keep 100+ clients and did build from 9 so good luck and email me if you have any questions, i have been through it all
AK Lawn
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