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How to get the money to get started.

Discussion in 'Lawn Mowing' started by Grassboy, Mar 14, 2000.

  1. geogunn

    geogunn LawnSite Gold Member
    from TN
    Messages: 3,010

    grassboy--how old did you say you were? you've indicated that you were 15/16 or thereabouts in previous posts and that you can't even drive yet. mobility in the early days could be a problem for you.<p>I hope I'm wrong in case you are being genuine in your request for information, but you are a minor and I don't think there is a bank this side of ecuador that will make you a loan of any amount for anything. if your father signs/cosigns a loan for you then it is the same as he made the loan. you aren't on the hook, he is.<p>further, I dont think anybody is going to sell you an expensive piece of anything. it takes money to transact buisness whether it is cash out of pocket or from a loan. you are indicating you have neither.<p>again, in case you are for real, I suggest you ask your father for what ever you need to start in the grass buisness.<p>my appologies in advance to any forum member that might think I am not being helpful. I am, however, being honest.<p>good luck.<p>GEO<br>
  2. dylan

    dylan Member
    Messages: 276

    Here in Canada, students can get small business loans for 5-7 thousand dollars from the government and a major bank.<br>They are repayable at the end of the summer and the rates are low. Maybe they have something like this in your area.
  3. Grassboy

    Grassboy LawnSite Member
    Messages: 104

    Hey all,<p>Charles,<br>I am still thinking about buying/ in process of buying, and I am just worrying about financing. Hey, can I get a 6 month loan? If so, how much interest would I have pay it off?<p>Dingo, <br>MY THOUGHTS EXACTLY!!!! If a person just goes into business half way, they'll never find success. Business is a complicated and time consuming thing. If you don't put forth full effort it'll never work!<p>
  4. GrassMaster

    GrassMaster Senior Member
    Messages: 447

    Hello Grassboy:<p>Everybody had to start somewhere. Start out with the min. & work your way up. It's Ok to pay cash as you go, most of these guys probably started the same way.<p>If you pay cash as you go, until you get a season under your belt, you will find out later it was the best thing to do!<p>Besides that I've been following your post & there is no reason in the world that you will not be a very big success!<p>If you try hard & keep comming back to this forum, you might be able to pay cash by mid summer. Then you will have no worries later about how you are going to make the payments.<p>You are at the beginning of your life, make the most out of it. You are already ahead of a lot of people, time will take care of the rest.<p>I wish you & yours the very best of everything.<p>----------<br>GrassMaster - Home: www.lawnservicing.com<br>My Start Up Page www.lawnservicing.com/startup/
  5. little green guy

    little green guy LawnSite Senior Member
    Messages: 955

    I'm 16 and I've been doing landscaping for about 5 years or something. I started out with a 21&quot;, an electric trimmer and a yardcart.Now I have 4 commercail mowers, 3 trimmes, 3 backpack blowers push blowers, a trailer and about a hundred other things. I owe nobody money. As i needed more equipment i bought more with the money i was making. If you finance something, what happens if you don't make enough money as you thought and can't make the payments. like for example the drought last year, nobody in my area cut grass for a month and a half. I have never bought anything without having the money first. By just diving in you are taking a big risk. Why by a 6,000 dollar, top of the line mower when you can by a good used mower for about $1,200? By spending less money in the begining you are taking less of a risk and you will make more money bacause you will not have all those payments to make. Then as you make more money you can upgrade your eqipment. Just my thoughts.
  6. Charles

    Charles Moderator Staff Member
    Messages: 8,822

    I don't really think Grassboy is sticking his neck out that much. Seems that he lives at home. He done alot of research on what he wants. if he spend his summer paying off the 6000$ and not spend all his money on the honeys. He will be okay and free and clear next year and for along time. NOw if he buys a el cheapo mower and otherequipment and they stay in the shop most of the time. Grassboy will become grassolman pretty quick. Grassboy most loans can be paid off with no prepayment penalty. Ask the bank loan officer.
  7. Toroguy

    Toroguy LawnSite Bronze Member
    Messages: 1,075

    Grassboy,<br>Your goals and choice of profession are admirable. However if you only have a handfull of customers, making payments and paying interest on two much equipment, may not be wise. If you have a large base of customers and are refusing work because of too little equipment, then its time for bigger and better. Just because you build it, doesnt guarantee they will come.
  8. HOMER

    HOMER LawnSite Gold Member
    Messages: 3,183

    There comes a time in everybodys life that they have to finance something! Try paying cash for your equipment when your trying to support a family of 5! Learning at an early age how to mangage your finances will only add to your lifes education. Ya, its tough, but if you want a house or a new truck or anything else one day you, unles your a rich kid, will have to finance it. My daughter wanted a car and she saved enough for a down payment, we went looking and found one she could afford by working her part time job while still in high school. She made every payment, paid the insurance premium, and put gas in it all by her self! She just left for the Air Force and will be able to get a nicer one now. She learned resposibility at 16, not 22-23-24, too late by then.<p>Point is, you have a golden opportunity to establish some credit, learn that those payments come every month, and never have to buy your groceries or pay the power bill. Do it while your at home, by the time you've graduated the stuff will be paid for and then your still in great shape because you can devote full attention to your business and build it to a level you want it. Its great to pay everything in cash but sometimes that ain't how it works for some of us. I am not contradicting my earlier post. Buy and pay for one item at the time. Finance the mower and pay cash for the accesories.<p>Homer
  9. richard

    richard Banned
    Messages: 74

    pay cash for your stuff and don't try and go legit with your &quot;company&quot; don't pay state taxes or collect sales tax and pocket all the money...no bank to send loan payment to etc. ...be a ROUGE LANDSCAPER ...you'll retire by the time you're 30 and start payin' taxes at 25....go sick!!! PS stay away from housewives they'll be all over 18 and tan...
  10. cjcland

    cjcland LawnSite Senior Member
    Messages: 278

    yea that sounds good i know i have never heard of a business going under because of tax fraud.....<p>----------<br>CJC Landscape Management<br>Winter Haven, Florida

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