Starting A Business

[CanaryBoss]

Touché. I’m not being antagonist, but have you found a way for your business to support your family health insurance, vehicles, and multiple 6 figure incomes(my wife is on the payroll too). If so that’s very impressive.

 

[Stephen Moore]

Touché. I’m not being antagonist, but have you found a way for your business to support your family health insurance, vehicles, and multiple 6 figure incomes(my wife is on the payroll too). If so that’s very impressive.

Can’t do that here in Canada! Rev Can is clamping down on stacking incomes within the family and using them as expenses.

 

[dmbeathard]

Touché. I’m not being antagonist, but have you found a way for your business to support your family health insurance, vehicles, and multiple 6 figure incomes(my wife is on the payroll too). If so that’s very impressive.

How do I get to this level?

 

[CanaryBoss]

My wife works for the company is is the single largest reason for our success in my opinion. Nothing illegal about that!

 

[Stephen Moore]

It’s all about being financially responsible. We have a profit account and every multi million dollar company should have an untouched line of credit that meets or exceeds the cost of six months operating expenses. That is how you weather storms. Use the money you make to make more money. Sticking your money in a savings account that earns half a percent is not nearly as wise as putting it into a peice of equipment that can up your revenue or lower the wear on your employees. No matter what anybody else says, your employees are your most expensive investment. AND, they can walk away at any time and leave you with no equity. When you pay into a piece of equipment, it has a tangible value that you can trade or sell or evaluate at the sale of your company. My guys have comp, health insurance, paid vacations and holidays and only work 4 days a week. Yet and still, I would much rather pay for $600 a month for a skid than $2400 a month for a groundsman. And, a skid replaces two groudsmen.
Customers used to ask me; why don’t you have a chipper or a lift or stump grinder on this thing or that? I would reply that we were doing fine without it, but the truth was that we didn’t have them because we hadn’t figured out how to get them yet. Now that I have them, I would never go back. We are doing a lot better than fine nowadays.

I would need to know some info about where you were going to start-not specially, but rather what part of the country. Also; rural, suburban, large cty... also, what is your competition doing? How big are they? What can your location support. If your going to do it, own the market.

This stuff about paying to dump twice a year doesn’t work for everybody. I’m in a city in Florida and pay $10,000+ a month to dump. It could be a lot more but I utilize certain practices that include proper equipment and free disposal of chips. I used to pay twice that a month. We also have to deal with palm debri that makes mulch unusable.

My company hired its first employee 2.5 years ago and we do millions a year in tree work. I have 25 employees and 2 million in equipment. The current valuation of my company is around $5,000,000. I have some debt but it pails in comparison to our annual revenue. And we are growing fast!!!!

I am a for hire consultant to the tree industry. I am willing to work with some start ups and existing tree services. Of course, the rapid expansion is not free and you will give a part of yourself to it. If your interested, pm me.

Why are you in debt with such a large annual income? Doesn’t make sense? And you say you own 2 million in equipment, is that cost of new gear? Cuz it ain’t worth half of that used. And how do you do millions in tree work with the amount of equipment I see there in that picture? You have what 1 maybe 2 lifts a chip truck, 1 chipper and a skid? I hope you got more than that for your 2 mil? I’m just asking, because there ain’t no way 2 lifts will earn millions a year, it just ain’t possible. Even flat out Asplundh truck with crew at 2 grand a day the best they can achieve 40 grand a month before wages and expenses and repaires and insurance. That’s only 400 grand over 3/4 of that is expenses, realistically 100,000 a year per crew profit per year. Just a realistic breakdown of what a crew could theoretically produce given a 5 day work week with no down time at all!

 

[Stephen Moore]

And we can’t find anyone willing to work here for less than 20-25 bucks an hour! Shit Canada sucks for income I guess?

 

[Stephen Moore]

Touché. I’m not being antagonist, but have you found a way for your business to support your family health insurance, vehicles, and multiple 6 figure incomes(my wife is on the payroll too). If so that’s very impressive.

I’m not calling you a liar, I’m saying that business model might work in Florida where all the money is, but in the rest of the world it might not fly? And for a guy wanting to start up a small business or even a large one it would be unrealistic to try to achieve that from the start.
I would suggest setting realistic goals and then reaching them one at a time. If you end up a millionaire so be it, if you only reach you goal then you are a winner!

 

[Stephen Moore]

I don’t even want to attemt a valuation of my business. Because in my opinion it ain’t worth nuthin’ without the sweat off my balls! I wouldn’t sell the Danger Tree name cuz it’s me all me. My reputation and mine alone. I could strip my signage and sell my gear, realistically I might get a quarter mil out of my show. But it feeds my family and a couple other families and let’s me snowmobile 3 months a year in the best area of the world! What more can a guy ask for?

 

[CanaryBoss]

My company is less than three years old. That’s why I’m in debt. Didn’t want to wait ten years to get there. I have two lifts and they do a minimum of $5k a day. EACH! And we work 4 days a week. Wednesday and weekends off.Plus I have third climbing only crew. All of my equipment is not pictured there either. That photo is about a year old. I have two chippers two chip trucks. Two 60yd loaders. 4 skids-an a770, 852 grinder and and on and on and on. I do at least 60k a week. In four days.

 

[CanaryBoss]

At 20 to 25 an hour that would be hard. A pretty good climber gets that around here. 12 to 15 for a grounder

 

[Stephen Moore]

My wife works for the company is is the single largest reason for our success in my opinion. Nothing illegal about that!

Mine works for ours too, but we can’t pay her an unrealistic wage. We would be audited in 2 shakes of a lambs tail. Canada’s taxation laws are strictly enforced. Several of my friends have been bent over the file cabinet by Canada Revenue, they are ruthless. Seize your accounts, stop payroll, stop bank transactions until a full forensic audit is complete. They will rape you internally.

 

[Stephen Moore]

At 20 to 25 an hour that would be hard. A pretty good climber gets that around here. 12 to 15 for a grounder

Dude that’s poverty here! A family would starve on those wages.

 

[Stephen Moore]

Wow! 5 k a day for a lift? That’s friken awesome! Why if you make that a day do you pay your groundies so poorly?

 

[CanaryBoss]

I’m just saying I started with a $5000 f450 and made it. Started small. I drove my wife to the movies in our only truck. But we can work year round here. It could buy you a platinum!

 

[Stephen Moore]

I’m just saying I started with a $5000 f450 and made it. Started small. I drove my wife to the movies in our only truck. But we can work year round here. It could buy you a platinum!

I have a 16” Intimidator, nice machine

 

[CanaryBoss]

My guys get bonuses and my leads make real good money, plus health insurance is a big deal around here. We have it. Believe it or not, we pay better than most. we can work all year remember?

 

[Stephen Moore]

I’m just saying I started with a $5000 f450 and made it. Started small. I drove my wife to the movies in our only truck. But we can work year round here. It could buy you a platinum!

Only get 8 months and the snow shuts us down.

 

[CanaryBoss]

I love my 19” I also have a 12”. Bought s new Vermeer, returned it. Hated it

 

[Stephen Moore]

I love my 19” I also have a 12”. Bought s new Vermeer, returned it. Hated it

Bandit is a good chipper, the warranty ain’t worth shit in Canada. The duty and parts shipping makes it worthless

 

[CanaryBoss]

Don’t snowmobile around here, but I’m planning going this winter for the first time. Got these though, it’s pretty fun