Family Business Question

Discussion in 'Business Operations' started by lawnmasters05, May 27, 2006.

  1. lawnmasters05

    lawnmasters05 LawnSite Member
    Posts: 26

    I got my start around this time last year and my son has been working with me from the start. Together we have built 60 customers we service weekly and some bi-weekly. This will be our 1st full year and we are projected to gross around 100k. My question is my son is 18 and is a mowing machine. He has been mowing since he was 14 around the neighborhood and I must say we compliment each other very well in the feild so I feel that if this is what he wants to do, then I should make him an equal partner. What do ya think?

    Robert
     
  2. dcgreenspro

    dcgreenspro LawnSite Senior Member
    from PA
    Posts: 682

    see if he wants to attend college first. You guys sound like you have your act togather so you can pick up some part time help for the early spring and fall work. if he really wants to do this, send him to turf school so your business will be that much better.
     
  3. KLR

    KLR LawnSite Member
    from Zone 6
    Posts: 171

    my 20 year old son carrys much of the weight of the business. however, because he is only 20 and can have a quick change of mind on his career at the drop of a pin... I will not make him a partner.

    I hope he takes over completly in a few years. at that time maybe a partnership... but i'm thinkin Operation Manager is more likely.

    he is a bright guy. always did very well in school....but hated being a student. So he wasnt looking at college. Now he takes college courses (nothing that will lead to a degree but he has certificates of completion in some business management and accounting)
     
  4. lawnmasters05

    lawnmasters05 LawnSite Member
    Posts: 26

    Very helpful guys. My son had a tough time in school and is in the process of getting his ged. He is going to take some courses for certification on turf management. The way we do things now, it already seems like a partnership so maybe I should just leave it alone and allow things to take its course. One thing I have explained to him is we need to take this up to the 200K to provide good incomes for both of us. I think down the road, he will be able to handle most the maintenance and I will handle the installs and renovations of course we will need a second truck and trailer but all in time.
     
  5. AintNoFun

    AintNoFun LawnSite Bronze Member
    Posts: 1,807

    ahhh education is overrated, especially for this industry.

     
  6. Lumberjack

    Lumberjack LawnSite Member
    Posts: 180

    Intelligence is a bit over-rated but dont let him shortchange his options. For now ship him back to school to at least learn a fall back trade or perhaps business management. ...
     
  7. cessnasovereign

    cessnasovereign LawnSite Senior Member
    Posts: 292

    I'll agree with that! I'll be 21 in July and two years ago (up until the first of this year) I was working in a funeral home on track to be a funeral director, then I decided I want to be a flight nurse (NO nothing girlie about that, in fact almost all of them are guys), well now here I am. But I really think I found something that makes me happy. I don't mind going to work in the morning anymore. Now, I'm not a part timer, I have over 20 regular accounts PLUS three apartment complexes worth $37,000 a year! And soon to be 41 yards for a HOA. Business was going then it just took off with the commercial acounts, my goal for next season is to have over $100,000 in commercial accounts not to mention residentials and to have my friend who is currently a heating and air tech manager, to be my 2nd crew leader.
    I'm already 1/3 of the way there so I'm pretty confident I'll exceed my goal for next year. Maybe if your son was a 50/50 partner, he wouldn't lose interest when he's making over $1,000 a week. No way in heck I'd go back to a job making $500 a week working 10 times as much too!
     
  8. lawnmasters05

    lawnmasters05 LawnSite Member
    Posts: 26

    Yes, he will make alot more but he will also learn that he is spending alot more to operate. No more guaranteed rate.
     
  9. dtelawncare

    dtelawncare LawnSite Member
    Posts: 227

    Education is never over rated. How many degrees or certifications you have may be. Being truly educated does not mean you have to have a masters or PHD. The more I deal with this business, I see the need to go back to school. I have seen that I can make more in one day doing a nice landscaping job than I make in three days of just cutting grass. Knowledge is Power.
     
  10. Randy J

    Randy J LawnSite Bronze Member
    Posts: 1,124

    Amen! Doesn't matter what you do, education is never over-rated. I think I'd let things alone for now. In a couple of years, you may want to hand the reins to your son, and work for him - let him deal with the day to day hassles of running a business. I would suggest that you encourage him to not only take some turf classes, but also some business classes. Running a successful business isn't as easy as some make it seem.
     

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