Operating a landscaping business is a fantastic way to both make a living and support those within your own community. It’s a great way to provide a quality day-to-day life for yourself and feel fulfillment in your work, as many small business owners do.
Of course, starting a landscape business might sound easier than it really is. There’s a lot to get familiar with if you want to own and operate this kind of business, and starting a company, in general, comes with many challenges.
What do you need to know if you want to start a landscape company? Read on and we’ll walk you through some of the basics.
1. Registering With the Government
Some people get so excited about opening their business that they forget about just how much paperwork is involved with running your own business. You’ll need to square yourself with all the paperwork that comes with running your own business before deciding this path is right for you.
The initial brunt of the work will all be upfront. You’ll need to register your business with both the state and federal government, and possibly a local city government as well depending on where you live.
Registration will require money, documentation, and a lot of time and patience. You’ll be given an EIN and official certification by the government at the end of the process.
You’ll still have a lot more paperwork to manage as your business continues to grow, which is why it might be worth hiring a landscaping accounting service to help you with your taxes!
2. Renting vs. Buying Equipment
The major investment you’ll need to look into when starting a landscaping business is the equipment. This is a major expense as some of this equipment can be quite expensive.
Depending on how much financing you think you’ll be able to get together, your ability to buy all of the equipment you’ll need might be realistic. It also might be difficult.
You’ll need to take the time to crunch the numbers. Renting equipment instead of outright purchasing it might make more sense for you, at least initially.
3. Obtaining Insurance
If you’re starting a landscaping business, you’re going to want to ensure you have employment law liability insurance before you start work. This insurance will cover you in the off chance you make mistakes calculating wages for your team.
Determining proper wages and overtime for a landscaping company can be more difficult than one would expect. Having this insurance in place could save your business some serious trouble somewhere down the line.
Many new to starting a business don’t think about getting this kind of insurance, but it can be a huge help.
Starting a Landscape Business
There is little work more reliable and fulfilling than that of a landscape business. If you’re able to open such a business, you have many bright days ahead. The above information will be important to consider, however, before you make your final decision.
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