You paid cash for everything when you started,so where you in debt?

Discussion in 'Business Operations' started by grandview (2006), Nov 20, 2012.

  1. grandview (2006)

    grandview (2006) LawnSite Gold Member
    Posts: 3,466

    Guys talk about how they paid cash to start their business. So technically you were in debt where you started. So how long did it take to pay yourself back you lent your company money?
     
  2. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,450

    Since I took my time and seeked out and found some killer deals on equiptment and my truck, I actually increased my "net worth"
     
  3. newguy123

    newguy123 LawnSite Bronze Member
    Posts: 1,094

    About 2-3 months and I had already started paying myself back, after the equipment had been paid.
     
  4. kyles landscape

    kyles landscape LawnSite Senior Member
    Posts: 331

    making money since day 1.....didnt have the best stuff still dont and never will gotta work within your means
     
  5. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,716

    If you've been making money since day one how did you start? It must have been with a pair of scissors and a bicycle if you had NO debt starting your business. I think newguy is pretty close, by the end of the first season all of your startup money should be back in your pocket and you should be earning a good profit.
     
  6. kyles landscape

    kyles landscape LawnSite Senior Member
    Posts: 331

    started using my dads push mower and electric trimmer and a broom worked my way up slowly bought my first mower gas trimmer etc
     
  7. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,716

    I hope you gave your father a thank you card for his investment.
     
  8. kyles landscape

    kyles landscape LawnSite Senior Member
    Posts: 331

    haha i now take care it for him since he got me to were i am now
     
  9. jrs.landscaping

    jrs.landscaping LawnSite Silver Member
    from Maine
    Posts: 2,716

    :clapping: good man
     
  10. Bunton Guy

    Bunton Guy LawnSite Bronze Member
    Posts: 1,743

    I started with a mower that was given to me back in 1994. Grew the business from there....went back and forth between years of only purchasing equipment with cash and using loans. When I bought equipment cash I was always strapped for cash. Dind't owe anything to the bank but didn't have anything IN the bank.

    Now I buy wisely and use credit as little as possible. Works a ton better
    I didn't get my first loan on equipment until I was in my early 20's. Previous to that I waited until I had saved enough cash & bought equipment used.
     

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