Equipment Financing Lawn Care Extraordinaire
Author: Stephanie Clarke
Date posted: 03.08.23

John and his son started a residential lawn care service in their growing rural county. They predominantly serve middle to upper class homeowners with properties of two acres or more. As the fastest growing county in the state, many families moving from nearby cities into the area are not well-prepared to care for lawns of two acres or more. Many tend only to areas surrounding their homes with outlying acreage left unattended and overgrown.

They began the business with two riding mowers, two push mowers, trimmers, edgers, and other essentials along with two trailers. With the influx of new families, John and Caleb are looking to expand their business with additional equipment to accommodate more team members including new mowers and at least one new trailer.  With the additions, they hope to grow their business even more, maintaining the high quality of landscaping work for which they have become so well-known in the county.

 

The goal is to be able to take on new annual contract clients, providing each with the service their current customers have come to expect. John has been pricing trailers, while Caleb had been reviewing their equipment needs including the addition of new riding mowers and push mowers.

They know they need commercial grade mowers and trailers, but they also know their finances won’t allow for outright purchases. They price out two commercial riding mowers and two commercial push movers along with two new trailers arriving at cost of $136,000. They believe they could repay the needed loan amount over a short period of time due to the influx of potential customers moving into the county coupled with their stellar reputation in the community.

After some research on loan availability, John and Caleb discover equipment financing which seems to offer the best option for their growing business. With equipment financing they will be able to lease the equipment needed over a short period of time, ensuring the anticipated profits, with the option to buy everything needed at the end of the lease term. After completing the necessary paperwork and providing revenue reports, bank statements, and a great credit score, the equipment was delivered quickly.

 

With the new crew members in place, John and Caleb signed a number of new customers to annual contracts, providing their high quality and professional lawn services to each one. In 11 months, they were well on their way to paying off the lease and hoping to complete the purchase of their new equipment in the 12th month.

About The Author | Stephanie Clarke

Stephanie has a bachelor's degree in psychology and has been a professional writer for over 15 years. Her client list includes New York Times bestselling authors, publishing houses, prominent public figures and successful business owners. She resides with her family in Florida.

What’s New

All Resources
All Resources