Self Employed in Professional Lawn Maintenance
Self-Employed in Professional Lawn Maintenance 2 Professional lawn care and landscaping is a multimillion dollar business from the companies that make lawn tractors to the people who take care of the grounds. The reason this topic interest me is because I have always enjoyed keeping my lawn looking green and healthy as possible. After working for a Professional for two years it was time to see if I could make it on my own. While I am in the technology group today my preferred job at Perrigo is a Facility Management Engineer. A facilities manager takes responsible for all buildings and grounds upkeep and maintenance. The Facility Engineer that I work with handles all the landscape and lawn care decisions for Perrigo. While this person is not actually mowing the lawn he is working with the contractor’s to make sure the job is completed on time and on budget. Being self Employed in the lawn care business he or she needs to learn many facets of the business. In this paper we are going to look at several key components for running a successful business. Accounting, Marketing, International Business, Management, and financials are some to topics we are going to look at. Let’s face you are in business for yourself because you have a passion of skill that you can provide better than anyone else. What you might not realize is all the bookwork that comes with it. Getting started with a professional accounting service is the best first step you can do. Here are some practical tax tips that will keep you in the black and out of trouble with the Internal Revenue Service. 1. Keep a record of all transactions.
2. Obtain receipts for everything.
3. Do not mix business with personal. 4. Claim home running costs if you work from home.
Self-Employed in Professional Lawn Maintenance 3 5. Avoid fines and penalties by submitting tax returns on time. 6. Take care if claiming a partner’s wages against profits.
7. Deduct child care costs (Cartwright, 2009)
Understanding the guidelines of the IRS is only one small part of the accounting process. You are busy every day from sun up to sun down but are you making any profits? A successful entrepeneer in the lawn care business will need to learn how to understand the basic elements of a balance sheet and income statement. For example, where are you seeing the most profit against expenses? Is it in the lawn care, fertilization program or light landscaping projects? One could look at the balance sheet and determine that after capturing all the expenses of the three programs being offered that the fertilization program is making the owner the most money. One reason you are making more money than lawn care is you are putting more skill and expertise in learning the chemicals and the spreader will not depreciate like a 10,000.00 lawn mower that will run its course in three-four years. One might want to study the accounting balance sheets more closely in the off season to get a better understanding of where he/she should spend more time maximizing profits. Once you make the decision that you are going into business for you how do people find out about you? Marketing your small business is key to success! If no one knows you are in market place you can only expect failure. Most small businesses fail within the first two years to three years of operation. This is why understanding who your target audience is what medium are you going to use to reach out to that person. One successful marketing method is knocking door to door and asking if the owner of the property would like to receive a quote? A lot...