Debt Free business

Discussion in 'Starting a Lawn Care Business' started by Hoss4x4, Sep 18, 2011.

  1. meets1

    meets1 LawnSite Gold Member
    Posts: 3,757

    Business model yes. Also how about those that inherited money? Those that may have other business ventures on the side? How about your wife? Alot of things come into play. THere is a 22 year old kid here that used to help us part time. Daddy farms. He claims he saved close to $780K thru high school and 2 yr college - he just bought a dozer, excavator, 2 payloaders, a 2 trucks, 2 sidedumps and 2 lowboys. I told him I paid you too much - he has no debt - bottom line DADDY! There going to start playing in the dirt.
     
  2. weeze

    weeze LawnSite Fanatic
    Posts: 8,037

    wow with a dad like that why would you even work at all? :laugh:
     
  3. 205mx

    205mx LawnSite Silver Member
    Posts: 2,342

    Right. Many factors
    Posted via Mobile Device
     
  4. meets1

    meets1 LawnSite Gold Member
    Posts: 3,757

    Why work with a dad like that - well he is a farmer. No matter the drought ect he needs ductions or pay in. He bought the stuff. That kid stay on farm in one fashion or other and life is good. He just left our local honda dealer last week with a new $16K sled cuz he was going to the montana area (cook city) I think to go sledding. Why was I there - to get a few shear pins for our honda blower. Me just a little guy!
     
  5. LindblomRJ

    LindblomRJ LawnSite Silver Member
    Posts: 2,570

    Sure, you can operate debt free, if you intent to grow or up productivity debt can sustain or expand while helping to maintain decent cash flow. If managed debt can be a great tool.

    Playing with dad's money is a sure fire way to go broke in 5 years. However, starting up debt free is a great way to get started.
     
  6. zackvbra

    zackvbra LawnSite Senior Member
    Posts: 554

    This is my 4th year, and I have yet to be in debt. The only thing I have had financed is my mower and truck. Still paying on the truck, just paid the mower off a couple months ago. :)
     
  7. Patriot Services

    Patriot Services LawnSite Fanatic
    Posts: 12,531

    This is where a revolving line of credit rules. Not talking credit card here. You borrow what you need, when you need it. Usually at far more favorable rates than a straight up loan that you are paying interest on whether the money is in play or not.
    Posted via Mobile Device
     
  8. 205mx

    205mx LawnSite Silver Member
    Posts: 2,342

    LOL
    I have no debt except for the debt I have'


    Congrats payin off the mower I'm just joshin ya
    Posted via Mobile Device
     
  9. zackvbra

    zackvbra LawnSite Senior Member
    Posts: 554

    My definition of debt is you are late on a payment on something, and it just keeps piling up. If you make your payments on time, thats not debt, in my book.
     
  10. 205mx

    205mx LawnSite Silver Member
    Posts: 2,342

    What book is that?

    JK! That's an interesting take really. Payment don't necessarily make it debt I guess. Interesting take man. With a truck it's just making payments. Big difference in that and credit cards. Nice way of looking at things, really.

    Tyler
    Posted via Mobile Device
     

Share This Page