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3 Things To Grow Your Business

 
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Old 07-03-2009, 12:15 AM   #1
 
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3 Things To Grow Your Business


What 3 things (tools/equipment) do you want to add to grow your business in the next year?

I really need to get heavier equipment and stop renting so much.

1. A 1 ton dually truck with a big engine and low geared rear end. My business is outgrowing a half ton.

2. Bobcat MT55 with a bucket. The attachments I can rent for not much money, it's the machine I need at my disposal.

3. Bobcat CT445 tractor w/ canopy and 3 point hitch. I have quite a few 3 point attachments I picked up at auction. I just need a reliable tractor to hook em to.

The 5 year plan:

1. Bobcat mini-ex. Probably somewhere in the middle size wise. I have enough jobs where a mini-ex would be useful, but not enough to justify adding a rental to the bid.

2. Bobcat wheeled skidsteer, a big one.

3. Bobcat tracked skidsteer, a big one.

So what are your plans? What could help you grow your business? Is anyone here set up with everything they need?

One of the things that has stopped me from having a bunch of equipment is cost. Since my business is seasonal I don't want monthly payments. I buy what I can afford to pay cash for, and set enough money aside to live through the off-season. I'd buy used but I'm a horrible mechanic and repairs add up fast.
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Old 07-03-2009, 12:28 AM   #2
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Re: 3 Things To Grow Your Business


1. Build website and find effective advertising to drive traffic to website. Web site is built. Advertising next. Ultimately to transition to more exterior residential repaints.

2. Change license to allow hiring employees. Get workers comp.

3. Leverage old connections to expand in the classic apartment turnover market in my cities downtown core.

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Old 07-03-2009, 12:35 AM   #3
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Re: 3 Things To Grow Your Business


Quote:
Originally Posted by BobsLandscaping View Post
What 3 things (tools/equipment) do you want to add to grow your business in the next year?

I really need to get heavier equipment and stop renting so much.

1. A 1 ton dually truck with a big engine and low geared rear end. My business is outgrowing a half ton.

2. Bobcat MT55 with a bucket. The attachments I can rent for not much money, it's the machine I need at my disposal.

3. Bobcat CT445 tractor w/ canopy and 3 point hitch. I have quite a few 3 point attachments I picked up at auction. I just need a reliable tractor to hook em to.

The 5 year plan:

1. Bobcat mini-ex. Probably somewhere in the middle size wise. I have enough jobs where a mini-ex would be useful, but not enough to justify adding a rental to the bid.

2. Bobcat wheeled skidsteer, a big one.

3. Bobcat tracked skidsteer, a big one.

So what are your plans? What could help you grow your business? Is anyone here set up with everything they need?

One of the things that has stopped me from having a bunch of equipment is cost. Since my business is seasonal I don't want monthly payments. I buy what I can afford to pay cash for, and set enough money aside to live through the off-season. I'd buy used but I'm a horrible mechanic and repairs add up fast.
I think I've seen a couple of other posts from you and it seems like you watch the numbers pretty close. I would run cost comparisons of renting vs. owning used vs. owning new. I think you may find that it all works out about even and that the equipment cost is pretty much fixed as a percentage of the job.

At least that has been my experience with the sanders I use in the refinish side of my business. I think the main benefit you lose by renting is the depreciation but on the other hand rental is a direct cost and can be written off immediately. If you pay a lot of cash for large heavy equipment you'll have to carry that expense 5-7 years down the road or longer.
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Old 07-03-2009, 12:46 AM   #4
 
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Re: 3 Things To Grow Your Business


Owning would help me out in time saved. Rather than have to leave Genesee, go to Moscow to pick up the equipment, then to the jobsite in Kendrick, then back to Moscow to return the equipment, then home to Genesee I could load up at my house and then head to Kendrick. Just an example from this week. I have tons more. This part of the country is real spread out and drive time adds up. In a 10 hour workday I can spend 5 of that running around.

What I do own I take real good care of. I can't do all the maintenance and repairs on my own, but I make sure it gets done by someone who can. Anything I own lasts a long time. The benefits of owning, rather than renting, the pieces of equipment I use most frequently are beneficial to me due to the geography of where I live and work.
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Old 07-03-2009, 01:16 AM   #5
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Re: 3 Things To Grow Your Business


Too many I can't narrow to 3 at the moment.
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Old 07-03-2009, 05:45 AM   #6
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Re: 3 Things To Grow Your Business


Quote:
Originally Posted by BobsLandscaping View Post
What 3 things (tools/equipment) do you want to add to grow your business in the next year?

I really need to get heavier equipment and stop renting so much.

1. A 1 ton dually truck with a big engine and low geared rear end. My business is outgrowing a half ton.

2. Bobcat MT55 with a bucket. The attachments I can rent for not much money, it's the machine I need at my disposal.

3. Bobcat CT445 tractor w/ canopy and 3 point hitch. I have quite a few 3 point attachments I picked up at auction. I just need a reliable tractor to hook em to.

The 5 year plan:

1. Bobcat mini-ex. Probably somewhere in the middle size wise. I have enough jobs where a mini-ex would be useful, but not enough to justify adding a rental to the bid.

2. Bobcat wheeled skidsteer, a big one.

3. Bobcat tracked skidsteer, a big one.

So what are your plans? What could help you grow your business? Is anyone here set up with everything they need?

One of the things that has stopped me from having a bunch of equipment is cost. Since my business is seasonal I don't want monthly payments. I buy what I can afford to pay cash for, and set enough money aside to live through the off-season. I'd buy used but I'm a horrible mechanic and repairs add up fast.
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Old 07-03-2009, 08:36 AM   #7
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Re: 3 Things To Grow Your Business


1. trailer for construction debris, etc.
2. steel shelving for the van
3. robot to do my paperwork
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Old 07-03-2009, 09:31 AM   #8
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Re: 3 Things To Grow Your Business


1. Open a commercial division.
2. Hire receptionist with good phone voice.
3. Expand remodel division.

My Residential painting is established, endorsed and sustaining itself very well, pricing and volume are up, so now its time to expand into other related fields.
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Old 07-03-2009, 09:54 AM   #9
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Re: 3 Things To Grow Your Business


during the next few years?

- trailer for my tools (maybe this year, starting to get busy)

- pickup truck

- cadex 23ga pinner (doing a lot of base shoe these days, I just don't trust my cheapo offshore bynford brand)

- fein multimaster, could have used it on several jobs lately ($400??? wtf???)

- bosch portable tablesaw with that folding stand/wheels

- new starbucks coffee mug- maybe, I've cut down to friday mornings only.

- GPS! googling addresses is fine if you are at home, but on the job?


k, I'm off to work! scribing base shoe to a wavy/rough concrete floor 23 hrs in, 6 to go....


lauriescustomfinishing.ca
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Old 07-03-2009, 10:15 AM   #10
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Re: 3 Things To Grow Your Business


Couple of new pour tables
Finish setting up shop
Develop Furniture line (concrete and wood).G
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Old 07-03-2009, 10:36 AM   #11
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Re: 3 Things To Grow Your Business


1) Genie
2) Hydraulic punchout
3) Burndy crimper

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