Separate names with a comma.
Discussion in 'Lawn Mowing' started by BotetourtBoy3, May 30, 2007.
How good in the income of a landscaper?
I've been away for 6 months and the very first thread I read is this one. Some things don't change...Sorry Botetourtboy3, didn't mean to seem to down you.
That is a loaded and impossible question to really answer. Each company is very different and each owner/mgr is going to operate differently. After taxes and expenses...you can bet on almost zero profit. haha.
It can be a good living, but not overnight. Several years of hard work.
The less you spend, the more you get to keep, dumb as it sounds I've seen guys earning 100k / year that couldn't make ends meet, meanwhile guys making far less some seem to do ok, so profit is really any money left over from between what you earned and what you didn't spend... It can be a percentage or a figure, there's no telling, I guess in 5 or 10 years you might see 20 thousand over the top, maybe less, maybe more, I don't know.
Most of us figure profit as income-expenses, but to me profit is still useful money, it gets put to use in the way of buying better equipment, so is that really profit or is profit only the money that's left in the bank? Because to some guys it's all profit, to others profit is only what's left in the bank, but I say in 5-10 years you should be able to see 20 grand over the top... Some of us pay ourselves out of the profit, so then maybe to you it's 20 grand once over the top and 20 grand more you invested AND 20 grand you paid yourself, or maybe it's just 20g once, see what I'm saying is it's all in what you make of it, profit wise, but I do like them 20g's I tell you.
The US average gross income for this job is 35,000 / year, but it's all in what you make of it, I find 35k a tough nut to crack myself, some guys here somehow manage to rake in twice as much, don't know what to tell you there, I grossed 37k once in 5 years, paid myself 12k, spent the other 25 and that year was over, easy come, easy go, and hope you have something left to show for it.
Profit is what you make of it, plain and simple.
I try to keep my expenses where my profit margin is around 65-70% of my gross. Somtimes I do better sometimes i come out a little worse. Last year I grossed around 75,000 and profited somewhere in the neighborhood of 45,000. then along comes uncle sam with his hand out.
That about sums it up in a nutshell. I say the same thing all the time, "it's not what you make, but what you keep".
you get 65/70% of your gross?!?!?!? that's pretty sweet....
How on god's earth did u gross 75K and keep 45K??? How are you paying for all of your equipment, financing? Cash? Please inform me, cause I must seem to be doing something wrong...
All of my equipment is paid for. Trucks trailers tractors and all. Thats 45,000 before uncle sam. I lost 6,700 to the self employment tax alone.
I grossed 65k last year and took home 45 before taxes. Everything is paid for, that makes a huge difference. If i need it but can't afford it, I find another way to do it or rent what I need. Also, know what your costs are and make sure you charge enough to make money. You know, money that you can take home, not just money that your business brought in. Gross means nothing if you still can't eat.
It is not really hard to do lawnboy you got to want it and it helps to have a business plan outlineing the road map to that goal.