OK guys here it goes

Discussion in 'Business Operations' started by wescane, Apr 20, 2006.

  1. wescane

    wescane LawnSite Member
    Posts: 21

    I talked with my wife and she wants me to quit my regular job and start doing lawn maintenance full time. Question is, do I have enough work, yes I do. Next question is since I already have a security blanket do I really want to take a chance and go for it, I mean leaving all the benefits which family insurance is a must with two kids. I would be thankful for any feed back because this is a HUGE decision.
     
  2. scott's turf

    scott's turf LawnSite Senior Member
    from NH
    Posts: 949

    Can you do both and hire someone to act as your operations manager? This is what I do and it works out pretty well. It is a little stressful in the sping and I end up using some of my vacation time to do clean-ups and bark mulching but once July comes I usually don't do any lawn care until November. A lot of it depends on how much money you are making at your other job and the benefits associated with it. I would not be able to net any where near my salary no unless I at least quadrupled my lawn care company.
    -Scott
     
  3. wescane

    wescane LawnSite Member
    Posts: 21

    The thing about the whole deal is that I hate my regular job. I have been here for 11 years and Im going nowhere. OH yeah did I metion I havent had a raise in the last 4 years. Liking what you do is important also.
     
  4. Badgerz

    Badgerz LawnSite Member
    Posts: 122

    I'm with you, working on the same decision myself. If you don't mind me asking how much income would you need to replace? If you quit your job does your health insurance go bye bye or does your wife work and have the ability to carry insurance for the family.

    In my case my salary is only $31,500 a year gross. Actual bring home ends up being around $23,000. My wife has a great job and brings home more than I do currently with just a few hours of voluntary OT a week. Her job also offers better insurance than I can get at work. It makes the decision a little easier but it's still not something I'm going to rush into without thouroughly testing the waters.
     
  5. wescane

    wescane LawnSite Member
    Posts: 21

    I tell you what Badgerz why dont you give me a call or give me your number so we can talk about some things. I will PM you.
     
  6. Badgerz

    Badgerz LawnSite Member
    Posts: 122

    Check your messages. Reply sent.
     
  7. dtelawncare

    dtelawncare LawnSite Member
    Posts: 227

    I hear you guys. I am trying to juggle my Bill paying job and my Lawn Care business. I know I can make a very good salary with my business, but it will take a year or so to build up customers. My wife has a good paying job, but not even close to what I make. I have a lot of $$ going out each month on bills. Not in huge debt, but I have been hammering on my house. Went with a shorter term loan for better interest rate. I will be 26 next week, I'm on pace to pay off a $155,000 home at 34. About 2 1/2 yrs and truck is paid off, wifes Pilot is paid for. I am afraid to step out and lose everything I have worked so hard for.
     
  8. KCLandscape

    KCLandscape LawnSite Senior Member
    Posts: 526

    I am afraid to step out and lose everything I have worked so hard for


    Good Luck. Hold on and make it happen. Keep your head high and get some stuff done.
     
  9. Badgerz

    Badgerz LawnSite Member
    Posts: 122

    If I was making damn good money I might have second thoughts. But, I'm not so the decision is a little easier.
     
  10. muddstopper

    muddstopper LawnSite Silver Member
    Posts: 2,342

    this is my personal take on this subject. Building a self substaining business overnite is hard to do. Giving up the security of a steady paycheck and going out on ones own is a tough decision for anybody to make. to make the decision easier you need to have a plan. For me, I started with a five year plan toward self employement. Once the goals are set, it is easier to work toward those goals. My first decision I made was insureing that I could make enough money to replace my current job. I knew that I didnt want to give up a $20 hr job and replace it with one that barely paid minimum wage. I started building my company slowly, subsidizing purchases thru my current salary. Basicly, I took $5000 out of savings and bought my first peice of equipment.( I now own over $100,000 worth of equipment, including two hydroseeders, 4 trucks and three tractors and various attachments and trailers) My reasoning was that if I started with good equipment and worked with it, that that peice of equipment should be able to pay for everything else I felt I needed to purchase, without me having to dip into savings again and again. If the equipment cant pay for itself, there is noway it can pay me a salary. Over time, I kept purchaseing equipment, paying cash out of the business profits. Each purchase was made with the goal that that equipment would pay for itself and generate additional income for other purchases. As my equipment list grew, so did the number of hours it took to keep that equipment running and generating income. Since I already had another job, I couldnt very easily operate the equipment myself. this meant adding employees. Now I have two full time employess that make $10 perhr each, or equal to my current salary. my quiting my full time job would mean me replacing one of those employees with myself or a $10 perhr job. I am not ready to quit my current job just yet, I still need to build the company up to where I am making $10 more per hr just to replace my current salary, plus benefits. Otherwise, I would be taking a paycut and loseing money. My planning has enabled me to double in gross every year since we started, I am already at last years total gross this year. I am also considering another crew, I already own the equipment to do so, paid for by income from the company. My current crew is also making overtime almost every week. right now this is cheaper than paying two additional employees. I wont hire additional employees until the work load is to hard to manage for my current crew, and that might be sooner than I expected, but since I already own the equipment, and have two trained employees, its just a matter of hireing someone and splitting my current crew, placing one experienced person with the new hire until they are also trained. This will probaby also mean a slight wage increase for each current employee since they would both be considered lead workers.

    Planning your business before you quit your current job, is the best way to insure that your new business will succeed.
     

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