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I really don't think there is money in this!

Discussion in 'Lawn Mowing' started by Creative Lawn Care, Jun 29, 2005.

  1. Creative Lawn Care

    Creative Lawn Care LawnSite Senior Member
    from NC
    Messages: 271

    Ok guys I know we can make a living at this. I have done fine for the last 6 years fulltime. But compare this to other businesses. Is the potential to do really well, I mean to be wealthy in the landscaping industry? There are some people that have done well but don't other businesses have a higher percentage of wealthy owners? I got into this industry for the money, I consider myself a business man not a landscaper, but I honestly can't seem to get this business big and profitable like I want. Am I wrong?
  2. hole in one lco

    hole in one lco LawnSite Bronze Member
    Messages: 1,793

    The problem i see is that you can run it like a business but you cant set the price like other business. Iv dropped haft of my customers from last year because they dont wont to pay my rate. But im in it to make money not to compete with any one on price.
  3. BrunswickMowing

    BrunswickMowing LawnSite Member
    Messages: 44

    How old are you, and what was your profession 6 years ago?
  4. Hank Reardon

    Hank Reardon LawnSite Senior Member
    Messages: 599

    What goals have you set for your business? What plan have you implemented to acheive these goals?

    The only limitation we have is ourselves.
  5. Envy Lawn Service

    Envy Lawn Service LawnSite Fanatic
    Messages: 11,087

    Lots of places in NC are a tough market.
    Many of the areas get tougher every year.
  6. wacamaster

    wacamaster LawnSite Member
    from MI
    Messages: 198

    You aren't going to become a millionaire mowing grass. I've already established this. Landscapers seem to do better, but they aren't making millions either. I'm using the money I make, with my financial brains to try and make millions. Through investing. First I invested in a house.. then I took all the equity out of my house to put it in the stock market. Right now my golden pick to make me rich is Jones Soda (JSDA). I made a lot of money off Toro (TTC) in the last few years. Don't you wish you could of thought... "Geez.. Toro makes exmark.. Exmark is the best mower.. I see everyone with em and new guys gettin em all the time... I bet Toro's stock will go up on increased sales!" So you drop 20g's in it... and it triples.. now you got 60 g's. Which is what I did. Now I'm taking that 60k and putting it in teh Jones Soda which is a much riskier investment.. but not in my book because I have a ton of confidence in them. **** if I would have gotten that 60k in Jones 2 years ago it would be worth like 750K! But I didn't.. I am getting it in now and figure over the next 4 years Jones will be up AT LEAST 5X. This may be conservative.. it could very easily be up 10-20X.. so I figure I should have anywhere from 300k-1.2M. And I'll be 28 then so I'll be doing alright.
  7. battags

    battags LawnSite Senior Member
    Messages: 607

    You have to find your niche. Anaylize what areas you are best at and capitalize them. Remember, if you are just in this business to make money but hate the business, you're going to be miserable. More than anything, ENJOY what you do. If you make smart, well-informed, financial decisions, the wealth will follow.

    Financial responsibility and discipline are the keys!!!

  8. mbricker

    mbricker LawnSite Senior Member
    Messages: 505

    Waca, good for you! But 2 lucky picks don't make a stock market expert. Hope you start thinking of the wisdom of the old saying, "Don't put all your eggs in one basket."

    As far as how much money is in the lawn business, it varies immensely from one area of the country to another. But if you are capable of managing people, productive crews doing the work will get you a lot farther than staying solo. I think there is hardly anyone who can net a hundred grand a year in this business operating solo. Most of us solos probably net 25 to 60 grand a year. That ain't hardly in the millionaire class.
  9. battags

    battags LawnSite Senior Member
    Messages: 607

    Spoken like a YOUNG investor. If this is your financial 'game plan' your in for a rude awakening. There is MUCH more to it than this. This is not ment as a slam on you at all. You just are not looking at the big picture. Here are a few clues....

    Life Insurance (whole and term combo)
    Roth IRA
    Deferred Comp acconts
    Mortgage rates and refinancing
    Interest only mortgages
    Homeowners insurance
    liability insurance stocks
    money market accounts
    real estate, real estate, real estate
    Preferred vs. unpreferred intrest rates
    tax deductible contributions
    tax shelters
    stock purchase/matching programs
    living wills
    etc, etc, etc

    The bottom line.....a person who makes an average of $50k per year (gross) for the next 25 years can retire to a very comfortable life by the time they reach 50 years old. Strict financial discipline and the understanding of how all of the categories mentioned above all relate are very important. I don't claim to know it all, but I know quite a bit about the subject.

  10. erikdean

    erikdean LawnSite Member
    Messages: 6

    I would stay clear of Jones Soda at least until it gets off the OB.

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