5 Financial Tips to Help You Fund Your Lawn Care Business

Lawn Care Business Tips, Tricks, & Secrets

Do you have a passion for lawn care? Are you looking to use your landscaping skills to create a booming business? The financial decisions you make early on can determine the long term success of your lawn care company.

From securing your capital to marketing to new customers, you can be smart about how you invest in your business. By balancing cost and quality when hiring employees and purchasing equipment, you can keep your budget under control. Making sure you are being smart about your financials allows you to provide the best services to your customers.

You don’t have to be a financial wizard to own a successful lawn care business. Being strategic can go a long way in making your company profitable. Your financial know-how will grow right along with your lawn care company.

1. Secure Great Financing

You may have been saving for years to launch your lawn care business. However, a large amount of capital it requires to get a business off the ground often requires financing. By finding and securing great financing off the bat, you’ll save yourself a ton of cash in the long run.

It’s a good idea to form a strong relationship with a financial institution. Whether with a small credit union or a personal banker at a large bank, this connection can help you both professionally and personally. As you get to know your financial partner, they will be able to advise you and offer deals specific to your needs.

When looking for a loan for your business, the terms are the most important part. So some research on the best rates in your area. Then approach your trusted financial institution employee so they can help you get the best loan terms. Your existing relationship with the organization may earn you a lower rate or higher approval amount.

Going in, have an idea of how long you would like to be paying on the loan. Longer terms mean lower monthly payments. It also means that it will take you longer to be able to allocate your loan payment to other budgetary needs to grow your business. It may be tempting to go for the longest term, but plan wisely and consider your budget and long term goals. 

2. Find Great Deals on Equipment

A lawn care business requires a ton of equipment to provide its services. This equipment will likely be your largest initial investment. Finding awesome deals can help you get the most bang for your equipment purchasing buck.

Don’t rule out used equipment. As with cars, lawn care equipment can depreciate quickly. This means you can get a great deal on pre-owned tools and machinery. Shopping for used equipment may mean that you’ll be able to get higher quality items than you would have been able to afford new.

Look for flexible financing. Many lawn care equipment companies may offer low or no interest financing when you purchase from them. Purchasing all of your equipment from one supplier may give you the best chance at an amazing deal.

Learning to negotiate will benefit you in many areas of your lawn care business. Practice when purchasing your equipment to get an awesome deal. Being a repeat customer and placing a large order will give you the negotiating power you need to get some of the costs shaved down.

3. Invest Wisely in People

Your employees are the face of your business. Their interactions with customers and the quality of their work is what will make your company succeed. Make sure to invest wisely in your employees to help your business grow. 

Offering competitive compensation can help attract the highest quality candidates. Receiving great pay can also boost employee morale and help your workers feel more invested in the business. Incentive-based bonuses can also motivate employees to work harder and produce higher-quality work. 

Other benefits and perks can also make your business a great place to work. Offering paid time off and medical benefits should be seen as worthwhile ways to grow your business through high-quality employees. When you invest in the employee culture, it will likely result in great outcomes for the rest of the areas of your business. 

3. Market Efficiently

Marketing is a necessary cost of getting any business off the ground. However, there are some great ways to get the word out there about your new lawn care company. Plus, they don’t have to cost you a ton of cash. 

Social media is an awesome platform for low-cost marketing. From Facebook to Google Ads, you can start an online campaign for just dollars a day. Plus, with the tools these sites can use to target specific audiences, you’ll get the most out of your social media marketing budget. 

Having a social media presence also allows you to connect with potential customers, often for absolutely free! Post promotions on your page and asked followers to share your posts to earn an entry for a discount. Add a coupon specific to your social media platform. Comment on posts and engage with users to attract potential new customers and deepen relationships with current ones.

Sometimes, an investment of your time is a great way to save money. Are you looking to break into a new area or neighborhood? Maybe you want to win commercial clients at a new office complex. 

One of the most effective ways to do this is by going door to door. The key is to be welcoming and introduce yourself as a local business owner. Let them know that you would love to provide them with high-quality lawn care service and leave your information in a low-pressure way. Many customers appreciate this approach and may be more likely to try out your company. 

4. Use Customers to Save Money

Your customers are one of your greatest assets. They are also one of your best tools in gaining new business. A referral program is an awesome way to grow your customer base while keeping costs low.

It can take a significant investment to gain a new customer. Offer a discount to customers that refer their friends or neighbors. This nominal amount shows that you appreciate them passing your name along. It also saves you the marketing dollars it would cost to gain that new customer with more traditional methods.

Do you have a customer with a highly visible corner lot? Offer them a free service or a small percentage off if you can put your company’s sign in their yard. Not only will be able to increase your brand awareness at a low cost, but you will also be able to show off the amazing work that your company does. 

5. Sustaining Your Growing Business

Funding your lawn care business is an ongoing effort. From the initial investment to continuously spending to gain customers, you’ll constantly be making financial decisions. It’s the way you balance your budget items that will determine your success.

These strategies can help you get your business off the ground. They can also help you save some cash as you grow it into the future. Being smart about your ongoing funding will allow you to efficiently grow your client base as well as your bottom line.

 

Previous

Next

Submit a Comment

Your email address will not be published. Required fields are marked *