Learn how selling your landscape company may not be the best way to create wealth and provide you the freedom you are dreaming of.
There is so much talk about people wanting to sell their company, or the dream they have to sell their company some day. It’s sort of the American dream to build your company, sell it, have all this money, retire, whatever. My argument is, and you’ve heard it before, why is that necessary?
When do you recommend buying lawn care equipment for your company?
I generally recommend that you wait until the very last minute to buy new equipment. That allows you to keep the money in the bank until the last minute. There’s a number of reasons behind that. If I need a big piece of equipment, I could buy that a week before I need it or a couple of days before I need it. So many companies and so many owners get excited by a new piece of equipment so they buy it months in advance. Generally, this is not a good idea for a whole number of different reasons.
Is the cool lawn mower a friend recommended, the best mower for my lawn care business?
When I was at GIE in Louisville, Kentucky, I was reminded that you really don’t want to buy the cool lawn mower. What I mean by that is, walking through GIE, I’m reminded how many different brands there are and how many manufacturers there are selling walk-behinds and riders. There are Skagg and Toro and Exmark and those are just my local brands.
Jonathan shares a fool proof plan to prep your seasonal business to have enough money during winter months.
As you’ve probably heard me say in the past, I’m not a big fan of contracts in the residential business. Commercial’s different. I’m talking specifically about residential. One of the big arguments for contracts is that you receive your revenue over a twelve month period because the argument is during the down time, during the off season, during the slower months, there isn’t as much money coming in and those contracts provide for great off season revenue to keep things running and smooth out cash flow. My basic argument is that it doesn’t make sense to put yourself under a contract with a client so that they can be your savings account and make sure you don’t overspend in the months that bring in a lot of revenue and therefore not have enough money in the slow season.
Learn how custom truck beds cut non-billable hours making you a more profitable lawn care company.
If you’re not using custom trucks and custom truck beds, it’s worth considering it, especially over the winter season. Optimizing your fleet to give your team in the field the opportunity to be as efficient as possible is smart business.
Labor is your number one expense. The more you can drive that down, the more money you make. It’s way cheaper to invest in better equipment, better trucks, better truck beds, than it is to invest in more and more people.
Here are several pictures from GIE of custom truck beds. I think you want to get trailers out of your business as much as you can. Like I said, you want to drive that non-billable time out of your business. The way you do it is by giving your guys a perfect set-up to work with by minimizing load and unload time and by making sure they can find all their tools.
This last picture here is from Tony Bass’s company where they sell custom trucks. I don’t know what they cost and I’m not endorsing them. I’ve never actually even met Tony but I’ve heard great things about him. He is completely on to something with the custom truck beds in all different forms. They could be open truck beds. They can be on the back of Ford Rangers. They could be on the back of F-150s. I have several different types of them.
Custom truck beds work. You should look at it in your business, whether you work with somebody like him or you figure out how to do it yourself. There’s a lot of wisdom in this approach. There’s efficiency in getting trailers out of your business as much as you can.