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First suggestion - BE CAREFUL! It would be real easy to lose all 75k if not handled properly.1 of 1 people found this helpful
Next I suggest you get professional advice from your local SCORE or Small Business Administration office.
Finally, with the economy the way it is currently it would be real easy for your business to take a major loss and have to shut down.
Plan, plan, and plan some more. Then seek professional advice, and then plan plan again.
My first piece of advice would be to pursue some other business. The great thing about a yard mowing business is that you can start it with very little initial investment. The bad thing is that so can your competitors. When anybody with a pickup truck and a lawnmower is a potential competitor it makes for some brutal price competition at the low end of the business.
If you really want to pursue it, I suggest you aim higher and broader with your view of your potential market. That means two things. First trying to get commercial accounts, office buildings, shopping centers, etc. Second, it means offering more services.
You mentioned "non major work". I would expand on that idea beyond cutting grass to just about any type of outdoor work. Some businesses plant seasonal colors in their beds. Do that. With the season changing there's leaf raking, gutter cleaning, window washing, putting up Christmas lights, perhaps even snow shoveling/blowing, you get the idea. Please note that you should definitely not offer services you are not capable of performing. However, to set your business apart from the crowd I would strongly suggest you enlarge your vision and scope of services.
You can very well startup a Lawn service business but require a market research and business plan. We would be helping you preparing business plan but it cost you minimum.
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Want to start lawn service business, Welcome
Two suggestions. Contact SCORE. SCORE is FREE both online and in person
Prepare both a Business and a Marketing Plan (and SCORE can help)
Good luck, LUCKIEST
Be careful about business credit cards.
A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card.
If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are. When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own.
Small Business Owner
Initial Underwriting Group
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hi forum, I have about ~$75K . I want to start a lawn service business where I hire couple of people to go and do lawn mowing and some non major work. I'm not from this field so I don't have any knowledge of this business . What things should I be careful of in this business? How much gross sAle required to breakeven on expense? Any help would be AppreciAted. Thank you.