when to quit my full ime job?

Discussion in 'Introduce Yourself' started by UNIQUElawncare, Sep 2, 2013.

  1. UNIQUElawncare

    UNIQUElawncare LawnSite Member
    Posts: 33

    Ok guys weigh in on this.
    those of you who have started a lawn service business while working another full time job, when did you know or decide to quit and go full time with your business?
    Did you do it when you started to match your current income or when it surpassed it by lets say double?
    Did you wait til money was coming in steady or a period of time?
     
  2. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,434

    At least wait till next spring lol
     
  3. KS_Grasscutter

    KS_Grasscutter LawnSite Gold Member
    Posts: 3,331

    I never had a full time job so my opinion may not be real accurate. But I would want all personal debt maybe other than the house to be paid off as well as being in a good place with equipment. Only you can determine that. In terms of revenue you would probably need to be grossing 4x your take home pay to not have to reduce your spending habits.
     
  4. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,434

    Having your personal finances in order is a must in this economy, self employed or not.

    I worked full time for 18 months before I went full time. It took me literally 4 years to get my business where I wanted it.

    A good plan is to start part time and invest ALL your earnings into real good equiptment.
     
  5. TwoGuyswithMowers

    TwoGuyswithMowers LawnSite Member
    Posts: 137

    Can't speak from experience but I can tell you what my plan is. I can't leave my full-time job until all of my debt is paid off, I have a very healthy emergency fund, and I'm making enough doing it part-time to cover all of our expenses including health insurance.

    There is no way I can make enough to replace my income while working it part-time, so I need to meet all three of those goals to give myself the chance to go full-time and build it to that level.
     
  6. You will know when it's time.
     
  7. UNIQUElawncare

    UNIQUElawncare LawnSite Member
    Posts: 33

    I am starting this business debt free so far...... I would eventually like to quit my full time job but if that's not possible this will still be a nice avenue to earn cash thats not needed to pay living expenses. my current job does that.
     
  8. jsslawncare

    jsslawncare LawnSite Bronze Member
    Posts: 1,674

    I'd quit now. But I hate working for someone.
     
  9. easy-lift guy

    easy-lift guy LawnSite Gold Member
    Posts: 3,376

    I would suggest having at least 18 months in reserve to handle all of your day to day living expenses. Any other funds at your disposal to run your business is up to you. All the best.
    easy-lift guy
     
  10. LandFakers

    LandFakers LawnSite Fanatic
    from CT
    Posts: 6,227

    I was able to cut down my hours of full time work once I started to run out of daylight and not being able to do all the work. I was working about 30 hours at my "full time" and about 45 landscaping. And once that began to not be enough I called it quits and solely focused on landscaping.
     

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