Debt Free business

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

  1. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,434

    I talk to several businessmen in our profession all the time and they are all business wise debt free and strive to be personally debt free.

    Any Finance person will alaways encoruage you to borrrow money, thats what they do.
     
  2. MDLawn

    MDLawn LawnSite Bronze Member
    Posts: 1,284

    I think we can all agree that a business can be run on a cash only basis and/or using special financing offers. Whatever works for your business plan. Cash is king but only if you have it stashed away.
     
  3. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,434

    The original post asked about debt, sure you can do what you want, however for lawncare I would never advise any one to run it with debt.
     
  4. I don't buy what I don't need. When I do buy something I need, and there is a 0% offer, I take it. I make the payments on time and don't pay the deferred interest. I have the cash to pay up front but I don't bc I would rather keep the cash in the bank.
    Posted via Mobile Device
     
  5. That is why these offers are out there, bc most people get sucked in and don't make the payments or they don't pay in full at the due date. I am not one of them. Yes, most people in this biz are idiots and have no idea how to run a business. I look at them as people who can't hold a real job and become lawn boys.
    Posted via Mobile Device
     
  6. yes I agree cash is king, but just curious are the ones preaching about cash, are these people who have problems with credit in the past or can't get credit if there life depended on it
     
  7. Puddle of Oil

    Puddle of Oil LawnSite Bronze Member
    Posts: 1,203

    I'm sure the provability is pretty high.:)
     
  8. willretire@40

    willretire@40 LawnSite Bronze Member
    from VA
    Posts: 1,387

    That was going to be my next point. Business is all about checking your numbers almost everyday and making smart decisions. You do that alot better with cash. I am not saying that you shouldnt use credit but I think that cash is a smarter move. Also if you save for something you appreciate it alot more. If you start of with a push mower then you will appreciate the business more and that upgrade in mower down the road.
     
  9. Will P.C.

    Will P.C. LawnSite Senior Member
    Posts: 965

    +1
    A smart businessman knows how to use debt and financing to his advantage.
     
  10. tlc1994

    tlc1994 LawnSite Senior Member
    Posts: 290

    I`m in high school so I guess you could argue my opinion is completely bias since I don`t have a CC, nor could I apply for financing. All I can say is that the OP is obviously interested in how others have achieved debt-free companies, NOT whether or not "good debt" is beneficial.
    Posted via Mobile Device
     

Share This Page