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How to Start a Lawn Care or Landscaping Business If you are ready to start a business and have a passion for landscaping, a lawn care business could be for you. Read on to learn how to dive.
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What You Need To Start A Landscaping Company
While lawn care may be something you associate with earning a few bucks here and there as a teenager, a serious lawn care business for commercial and residential properties can earn you actual cash flow. Starting any new business is challenging, but if you know the right steps to take, your own lawn care business is well within your reach.
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Lawn care and landscaping is more than it sounds like – lawn care doesn’t just stop at mowing lawns. In reality, it is a much more comprehensive service.
If you are open to providing a service that people always need, then landscaping service is a great option.
Like any other industry, there are pros and cons to lawn care and landscaping. Before entering into any new business activity, it is important that you have a complete picture of what is in front of you, so that you can make the most informed decision possible. Take a look at some pros and cons of the lawn care industry:
Before you jump into the process, you need to gather some information to get a better idea of what your risks and focus areas will be. When completing your market research, there are some key questions you should ask yourself to set your business up for success.
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You should focus equally on potential customers and competition in the area. There is a need for a healthy balance of the two for your business to make its mark and continue to grow.
Once you’ve completed the necessary research, it’s time to start planning things. As a startup, you’ll want to take the time to build a traditional business plan to promote a thorough and thoughtful process.
If you know you need financing, a well-structured business plan is the first step to securing financing. Investors value companies that have clearly put time and effort into creating their plans.
When it comes time to secure financing, you need to have a number in mind. This will show investors that you have done your research and allow you to match with the right investor. In the landscaping industry, one of your biggest expenses will likely be the equipment you need to purchase to start your business.
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Once you have estimated how much your startup expenses will cost, you need to add everything together to get a complete picture of the funding you will need. After completing this task, it’s time to look for financing options.
Due to the nature of the lawn care and landscaping business, it will be your choice whether or not you want to have a brick and mortar office for your lawn care company. You may need some type of facility where you store equipment and where employees come to collect their tools for work. The location of your facility might not be as important as other industries. However, it is important to choose the place where you want to do business.
You will choose the right business structure based on how financially connected you want to be to your business and how you want to file taxes. Types of business structures include:
A Limited Liability Company (LLC) is a business structure that is a combination of a sole proprietorship, corporation, and partnership. With this flexible structure, the business owner is a legal entity separate from the business, which dictates how to do taxes, conduct operations and manage management. LLCs are generally a safe and manageable choice.
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An S corp is a structure filed for federal corporate income tax exemption. This entity is a bit more risky than an LLC because the shareholders of the business are responsible for all income, as well as losses and forfeitures.
A sole proprietorship is a common business structure, but it is another somewhat risky choice. The business owner is not legally separated from his business, which means that he assumes all the financial risks of his business as part of his personal finances.
A partnership is two or more people who decide to share the ownership, profits and losses of their business. As a sole proprietor, in a partnership, the business and the person are one and the same. Financial wins and losses are on the shoulders of business partners.
Your business name should reflect who or what your business serves, as well as something that aligns with your brand. Whether it’s something simple like your last name or something creative and punny, put some thought into it, as it will be part of your business identity.
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For tax and legal purposes, you must register your business. You can do so as an entity for state level protection, as a trademark for federal level protection, as a DBA if your state requires it or as a domain name to ensure the your online presence.
The federal and state governments all have unique requirements for how to complete this process. However, to legally run your business, you need to obtain an employer identification number and a business license. Stay up-to-date, and research requirements for your state through information from the SBA.
To provide more protection and create a separation between your personal finances and professional finances, you should set up a business bank account. Having an official business account will also give you some purchasing power, as credit card companies often raise the credit limits you need to buy expensive equipment.
Now that you have completed all the documents and legal requirements, it is time to hire employees and get the word out about your business. Awareness doesn’t have to be expensive, as you can create flyers to post in neighborhoods, create and maintain social media for free and spread word of mouth via new customers and local businesses. Lawn and landscape care can be a steady and in-demand business. While the startup costs might be daunting, they will be worth it in the long run.
The Ins And Outs Of How To Start A Landscaping Business
Face many challenges such as financial, burnout and slow accumulation of new customers. However, if you want to find success in your own landscaping business, push the challenges by remembering why you started, have a support system to lean on and have confidence in your research and business plan.
If you need more guidance on starting a new business, check out tips for starting your own business and more.
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The Australian actor does not let himself forget where he came from, and what is the point of success. One of your first steps in starting a landscaping business will be to determine the legal structure of your business. Many states have business resource guides on their websites to help you with this decision. You may want to find an attorney, CPA, or business consultant to help you determine which legal structure is best for you.
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There are basic structures you can choose from: Sole Proprietorship, Corporation (S or C), Partnership, Limited Liability, or Non-Profit. Depending on the state in which you live, these may vary slightly. Making the decision depends on a variety of factors. Are you going into business on your own or with partners? Who will have the controlling interest in the business? How much do you expect to earn? How much liability are you exposed to? How do you want to be taxed? Each legal structure has characteristics that affect your financial and legal risks.
Also, you will want to determine if your state requires a license for this type of business and follow the steps to get properly licensed. You also need to decide if you need a sales tax license. Will you sell any products to your customers? Or just provide a service? If you sell products, follow the steps provided by your state to obtain your sales license.
Before starting your business, you may have just had a verbal agreement with your neighbors to mow their lawn every Wednesday for a certain amount of money. But now that you are starting a real business, you may want to invest in the protection of a Service Contract. We offer a Landscaping Contract, which is an easy online tool that you can use to create your own custom contract. You may want to have it
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