Loan Options

To grow your business, you need the right equipment. Maybe it’s a new mower, a skid steer, or plow. While the need for new equipment is a good problem to have, it also comes with a few questions. Some of the common ones we hear from landscape business owners include: Should I buy or lease? How much should I invest in new equipment? What will my rate of return be on either option to maximize my profits? The Real Cost No matter where you are in your business growth, you must look at what you have today and where you’re hoping to go tomorrow. Consider things like: Can my current equipment do the job? Would additional equipment drive business growth? Is there technology available to improve operational efficiency? Thinking through these factors, an inventory of your assets, and an overall budgeting plan will help determine your best path forward. Here’s a real world example: Say you’ve got a three-person crew doing residential landscape construction. The industry average daily production is somewhere between $2,000 – $3,000 in revenue, per day—or about $100 in revenue per man, per hour. One way you can improve the revenue generated without expanding crew is to provide them with the most productive equipment. A skid steer is a great example. Whether it’s loading/unloading a trailer, moving materials, or digging, a skid steer is a multi-use investment that could feasibly save time every day. Let’s say the skid steer costs $850 per month, which to most businesses ...