how to start my business

[bolensst140]

i have no neigbors that need a person to cut their grass but i need some money to start it and a truck advice guys?

 

[bolensst140]

i am working on a deal for a 97 chevy 1500 w/t and have 2 lawn tractors do you guys think a 97 v6 is a good choice

 

[StarTech]

Depends on the PU condition. My 2000 S-1500 has only 343,000 miles on it and it getting a rebuilt trans due massive internal failure. Body wise it is still in good shape s o I was will to put $2000 for a rebuilt plus $300 for a jack, ramps, and jack stands.

Highly recommend checking into the licensing requirements. Also do you know bookkeepping or will you have to some else to keep the books and ensure all your expenses are paid including all the taxes?

 

[bolensst140]

Depends on the PU condition. My 2000 S-1500 has only 343,000 miles on it and it getting a rebuilt trans due massive internal failure. Body wise it is still in good shape s o I was will to put $2000 for a rebuilt plus $300 for a jack, ramps, and jack stands.

Highly recommend checking into the licensing requirements. Also do you know bookkeepping or will you have to some else to keep the books and ensure all your expenses are paid including all the taxes?

i do have a couple botbooks on finances,trucks,mowers the chevy has 150.857 miles on it but the beds pretty gone the motor ticks, the beds really rusty, the cabs great though and has a rebuilt trans

 

[bolensst140]

1,000 bucks hes asking for it

 

[bolensst140]

ive got a small trailer and a john deere 420 for it to haul

 

[RolandW]

i have no neigbors that need a person to cut their grass but i need some money to start it and a truck advice guys?

I like to encourage entrepreneurship, but in our area at least, grass-cutting seems to be very competitive. Companies come and go, and a lot of them are flakey and unreliable. Most customers probably will want more than cutting, so you can't do much with just a mower and a truck. You'll also have to trim, fertilize, aerate, seed, apply herbicides, blow leaves, etc., to attract business, especially from desirable high-end property owners. Do you have the knowledge to do all of that, and are you prepared to buy the equipment that it will take and jump through all of the regulatory hoops? Since you don't seem to have any clients lined up, my advice is to get a job working for somebody else first (or keep your current job if you have one). The company owner takes all the risk. When something breaks, he pays to fix or replace it. All you have to do is show up reliably, smile, and do your best to make the business successful. When you have some savings and a clear plan for your own business, part ways with your employer and go for it. But do everything you can to leave on good terms. Bridge-burning is one of the worst things you can do. I wish somebody had beat this into my head when I was young.

 

[Gord Baker]

i have no neigbors that need a person to cut their grass but i need some money to start it and a truck advice guys?

Get a customer base First before you buy a mower and truck.

 

[Hammermechanicman]

Just some thoughts.....
Will this be a real business? Living wage profits?
There is a reason pros use zero turns, standers or walk behind and not tractor mowers.
Will you pursue commercial or residential clients?
If you show up with a 25 year old rustomatic truck and 20 year old tractor mower you won't have many residential clients.
Liability insurance? Hit an A/C unit or car and see what it will cost.
Residential clients will want to pay with credit card and commercial clients may want net30.
Do you have a blower and string trimmer? Backup equipment?

 

[PGB1]

i have no neigbors that need a person to cut their grass but i need some money to start it and a truck advice guys?

Some Thoughts, Bolensst140:

Form A Real Business-
I suggest forming a legitimate business for many reasons. It can be easy. Many types are "no lawyer needed" and some are "no paperwork needed".

The main reason to form a business is so that you can buy liability insurance for that unfortunate day when your mower leaks oil on the client's brick paver driveway or the mower throws a rock & it hits someone in the head. (Ours is sadly a very litigious society.)

Liability insurance is inexpensive. Zero-deductible, 18 million dollar coverage for my high-voltage electrical contracting business is under $300.00 per year- with $60,000.00 equipment theft or damage coverage. Lawn care coverage is far, far lower cost than high voltage electrical contracting coverage. You also won't need 18 million of liability coverage.

The next reason to form a business is that, with a business, you can deduct the cost of materials, gasoline, oil, special clothing, advertising and about anything business related from your income at tax time.

Truck insurance, repairs and mileage are deductible, as are phone costs for business use- and so many, many more items. The costs of equipment, computers, vehicles and similar are also deductible, but the rules for each type of item vary. (Some get deducted now, some are amortized.)

Bonus! With a legitimate business, you can open a checking account in the business name and deduct the fees. You can more easily get equipment and vehicle loans & open credit cards in the business name. Credit issuers are very willing to risk on new businesses and offer incentives galore.


Register For A Sales & Use Tax License-
Next, register with the state for a Sales and Use Tax license. In many states, you can stop paying sales tax on things you buy that are for sale to clients. You can stop paying Use Tax on gasoline. Note that all states have different rules.


What Kind Of Business To Open?
Opening your business as a Sole Proprietorship is very appropriate for a small enterprise, such as lawn maintenance.

Some Sole Proprietorship Advantages Include:
A) Opening one is a simple Do-It-Yourself project. Check the rules for your state. Some don't even need you to register or
file any paperwork.
B) Income tax returns are quite a bit easier than any other form of business. Simply fill out Schedule C with your 1040.
Most states do not require any business tax forms because the Schedule C profit/loss carries over to the state return.
C) You will not have the huge paperwork and income tax return burden of an S-Corporation or partnership or C-Corp, etc.
Record keeping can be as simple as saving receipts and tracking income. (Company bank account & credit cards make
this very easy to do.)
D) All profit flows directly to you without any legal "hoop jumping". You get it as fast as you earn it.

LLC Status Is Also Suggested
LLC status protects your personal money should your company go into debt that it can not pay. Example: You owe $20,000 for a bank loan and the business can not pay. Without LLC status, your personal money, home, etc. may be used to pay the debt.

LLC may, or may not, protect you in a civil judgement. That is a case-by-case basis. Example: You get sued & the judgement is for 2 million. Your liability insurance is only 1 million. In some instances, the LLC status will protect your personal money, home, etc. If you were willfully negligent, the LLC status won't help at all. (So get sufficient liability insurance!)

In most states, it's easy and free to register as an LLC. My state charges $25.00 per year flat rate.

When Your Business Starts Making Huge Income-
When your business starts making large income, you may wish to investigate the tax advantages of forming an S-Corporation. My company is a S-Corp. The on-going paperwork is large, tax returns are time consuming, but there are some very good tax advantages.


I know this is a whole lot of words, but hopefully they will make your start-up process easy and- most critically- help your business protect your assets.


Best Of Luck With Your New Adventure! You'll Do Well!
Paul