Register free!
Search
 
     

The Green Industry's Resource Center


Click for Weather
Reply
 
Thread Tools Display Modes
  #11  
Old 09-18-2003, 08:14 PM
wacamaster's Avatar
wacamaster wacamaster is offline
LawnSite Member
 
Join Date: Mar 2003
Location: MI
Posts: 198
Depends on how you buy your equpiment. If you make payments you should profit. If you buy outright, you will lose.
Reply With Quote
  #12  
Old 09-18-2003, 11:37 PM
mtdman's Avatar
mtdman mtdman is offline
LawnSite Gold Member
 
Join Date: Jul 2002
Location: A2, Michigan
Posts: 3,124
Quote:
Originally posted by wacamaster
Depends on how you buy your equpiment. If you make payments you should profit. If you buy outright, you will lose.
At the same time, you don't want to be overextended on credit. Don't go crazy buying equipment that you'll be left paying for for the next 5 years, whether or not your business survives. I know a couple guys that went under in their first year who had all kinds of nice equipment, and all kinds of nice equipment payments to make when they went under.

Reply With Quote
  #13  
Old 09-19-2003, 12:43 AM
stevo22 stevo22 is offline
LawnSite Senior Member
 
Join Date: Jul 2002
Location: collierville tn
Posts: 356
Quote:
Originally posted by wacamaster
Depends on how you buy your equpiment. If you make payments you should profit. If you buy outright, you will lose.
how completely wrong...by looking at your profile i can clearly see that you have not yet had the experience in purchasing/financing much of anything...while financing may work for some people i am a true believer to make purchases as you need them..if you finance you are giving money away, the finance charges...i really don't understand how you will lose if you buy outright...makes no sense...just my opinion..
Reply With Quote
  #14  
Old 09-19-2003, 09:35 AM
tiedeman's Avatar
tiedeman tiedeman is offline
LawnSite Fanatic
 
Join Date: Jan 2003
Location: earth
Posts: 8,753
I actually really ruined my credit for a while because of the financial promotions that I used for my equipment purchases. Now everything I pay in cash for. I am still paying off equipment from only 1 1/2 ago.
Reply With Quote
  #15  
Old 09-19-2003, 11:04 AM
twins_lawn_care's Avatar
twins_lawn_care twins_lawn_care is offline
LawnSite Senior Member
 
Join Date: Jul 2003
Location: Northern Illinois
Posts: 957
Thanks for the advice guys.

We are strictly trying to not put anything on credit. We started with some cheaper equipment we could afford, and are working toward being able to buy better equipment each year, as we require it.

I agree though, buying on credit has it's advantages sometimes, but I like to go in the store with big fat green pockets, and walk out owing nobody!

Keep 'em coming!
__________________
TWINS Lawn Care
Give your lawn that first impression people will look twice at!
Reply With Quote
  #16  
Old 10-13-2003, 03:21 PM
twins_lawn_care's Avatar
twins_lawn_care twins_lawn_care is offline
LawnSite Senior Member
 
Join Date: Jul 2003
Location: Northern Illinois
Posts: 957
now that the season's getting close to the end, any more help will be greatly appreciated.
We are looking at possibly breaking even, maybe down a few hundred, but this includes a van, and all of our equipment, although modest right now.
Not bad for a first year, plus our name is getting out there nicely!
:blob3: :blob3:
__________________
TWINS Lawn Care
Give your lawn that first impression people will look twice at!
Reply With Quote
  #17  
Old 10-13-2003, 03:51 PM
Woody82986's Avatar
Woody82986 Woody82986 is offline
LawnSite Bronze Member
 
Join Date: Jun 2003
Location: DFW, TX
Posts: 1,923
Lets just say that I broke pretty much even the first year.
Reply With Quote
  #18  
Old 10-13-2003, 04:33 PM
promower's Avatar
promower promower is offline
LawnSite Bronze Member
 
Join Date: Jan 2003
Location: Wisconsin
Posts: 1,221
I took a chance and maxed out a few credit cards, although I did pay a lot in cash to but I couldnt do that for everything. It was stressful knowing that I had some pretty big credit card balances but now I owe only a few grand and for me it was worth it.
Reply With Quote
  #19  
Old 10-14-2003, 04:19 PM
gusbuster's Avatar
gusbuster gusbuster is online now
LawnSite Bronze Member
 
Join Date: Mar 2000
Location: Sunny Northern California, San Francisco Bay Area
Posts: 1,604
profit first year, be happy if you cleared a dollar

twins_lawn_care
Like I said, be happy if you cleared a dollar profit after purchases,taxes and other fixed expenses.

Been in this trade for over 30 years, 20 on my own and can tell you it's feast or famine. Hopefully it's more feast than famine.

Our trade is tied to how well everybody else is doing. People losing factory jobs, no pay raises, can expect to see more competition and less available clients.

If you cleared money this year, your already on a successful road.

Your ideal of only paying cash for purchases in the beginning will only help you when you buy on credit later on. However, at some point you should learn how to manage purchasing things on credit and paying off in a timely manner.


To be honest, it makes me wonder when somebody has to pay by credit for a $20 purchase.

john
__________________
J-LC Landscaping & Maintenance Gardening
C-27 CA. Contr# 770044
Reply With Quote
  #20  
Old 10-14-2003, 04:32 PM
Let it Grow Let it Grow is offline
LawnSite Senior Member
 
Join Date: Mar 2003
Location: Walla Walla, WA
Posts: 476
It was my first year as well. I bought two new Honda hrc 216 (the best mowers they make) a Honda Trimmer, a 5 x 12 trailer, the best Stihl hedge trimmer they make, vairous hand tools, a circular saw, and a few other minor things.

As of today my net profit is $3,918.00

I will add probably another $2,000 to that number from the rest of the mowing season, leaf cleanups, and one last retaining wall.

I'm VERY pleased with my business so far (I have only been going for 6 months) and I think next year will be a year of HUGE growth. I'm planing on buying a ztr mower, and a bigger truck for my landscaping jobs, and maybe a new trailer (for hauling equipment).
__________________
The Institute for Incomplete Studies found that 3 out of 4
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump





Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Copyright ©1998 - 2012, LawnSite.comô - Moose River Media
All times are GMT -4. The time now is 02:20 PM.

Page generated in 0.09844 seconds with 7 queries