1. Missed the live Ask the Expert event?
    Not to worry. Check out the archived thread of the Q&A with Ken Hutcheson, President of U.S. Lawns, and the LawnSite community in the Franchising forum .

    Dismiss Notice

$50k/yr at job is not $50k in businness for yourself!?

Discussion in 'Lawn Mowing' started by K.Carothers, Jul 31, 2006.

  1. K.Carothers

    K.Carothers LawnSite Bronze Member
    Posts: 1,124

    I'll make this simple and open it up for discussion.

    If you make $50k/yr at a job, when it's all said and done, you clear...low 30's

    If you make 50k in this business, it's the same as making in the high 80's working for someone else.

    Who agree's/disagrees?

    I want this to be a stimulating thread. No bashing others thoughts!!!

  2. grass-scapes

    grass-scapes LawnSite Bronze Member
    Posts: 1,552

    How do you figure? What about the countless hours spent researching your craft. How about time you spend billing...customer complaints.....employee issues.....At least when I work at a job making 50 k a year, I know my hours.

    IN business for yourself, you have to put in many more hours.
    50K in this business is more like 20 k in your pocket, IF YOU ARE LUCKY. Taxes, insurance, equipment, depreciation.

    What you said was just plain stupid.
  3. K.Carothers

    K.Carothers LawnSite Bronze Member
    Posts: 1,124

    I see you have Zero skills in economics.

    With that said, please do not respond to this thread. You have no place here.

    For your info, 50k is what the business makes per year.

    NOT GROSS!!!

  4. 1MajorTom

    1MajorTom Senior Moderator
    Posts: 6,074

    well I don't know. Are you talking about making 50K GROSS in this business?
    If so, then I think it is worse, A LOT WORSE, than working a 50K job.
    At a 50K job, more than likely you will be getting benefits, or at least part benefits, probably 401K...
    50K GROSS in this business aint enough to support a family I'll tell ya. And that's in an area where cost of living is relatively low.
    Take taxes, all business expenses out of 50K, add into the fact that there are no benefits (which have to be bought solely on the LCO), and no 401K, I do not think 50K is like making in the upper 80's.
    You must not be talking gross.
  5. 1MajorTom

    1MajorTom Senior Moderator
    Posts: 6,074

    OOPS.. sorry.. I must have been responding when you were clarifying NOT GROSS. :hammerhead:
  6. wski4fun

    wski4fun LawnSite Senior Member
    Posts: 323

    I made 35k at my last job. If I factor in the taxes, 401k, medical, ect I would have to earn about 50k plus expenses for being in landscaping. I figure I need to earn about 60k to 65k but that's just a guess.
  7. topsites

    topsites LawnSite Fanatic
    Posts: 21,653

    I'm not sure I understand...
    Is 50k what you pay yourself?
    Is 50k what is left after expenses, with or without your salary?

    Or is this some kind of a game where you make the rules as we go along?
  8. K.Carothers

    K.Carothers LawnSite Bronze Member
    Posts: 1,124

    Alright, now we are getting somewhere here.

    You also need to look at the flip side of that.

    Deductions that you couldn't claim working for someone else?

    That does add up.

  9. K.Carothers

    K.Carothers LawnSite Bronze Member
    Posts: 1,124

    No game here my tops.

    Gross revenue minus legit expenses( not what my good cpa can find as loop holes and yours) -

  10. wski4fun

    wski4fun LawnSite Senior Member
    Posts: 323

    If you can bring home 50k in hand then you are doing very well. That means $1500 a week for the season not including plowing. I never include plowing in my estimates for the year becuase I can not count on it. And that is 1500 a week after all expenses and taxes and such.

Share This Page