TRACTOR PARTS Allis Chalmers Case & David Brown Farmall & International Ferguson Ford & New Holland John Deere Massey Ferguson Massey Harris Minneapolis Moline Oliver & Cockshutt Kubota / Yanmar

TRACTOR MANUALS

Allis Chalmers	Case	Farmall IH	Ford 8N,9N,2N	Ford
Ferguson	John Deere	Massey Ferguson	Minn. Moline	Oliver

Tractor Talk Discussion Forum

O/T Starting my own Buisness

Welcome Guest, Log in or Register

Author

perette

09-12-2005 10:35:27

Report to Moderator

Hello everyone,
I could really use alittle advise on starting up my own little buisness. Over the last few years I have bought enough equipment to start my own buisness. All of my machinery is small so I can't really do any big jobs. I have a full line of haying equipment (don't have any wagons or a kicker), 2 bottom plow, 6ft set of disc harrows, 7' rear blade, bucket loader, 50" rototiller, 6' rotary cutter, plus a truck and flatbed trailer. I'd like to till gardens, brushhogging, possibly haying and in town snow removal, whatever people might want done that I can do with my equipment. It has been suggested to me that I just stick an ad in the paper and make up posters to hang on public bulletin boards to advertise, but before I do that, I want to know what other stuff I need to know or do before I just jump in. I am thinking I'd need to make everything official, such as get some sort of buisness insurance so the customer doesn't take me for what little I'm worth after I accidently damage something on their property. Do I have to register a buisness with the goverment?. I really don't have a clue and don't really want to find myself in a legal mess by doing things improperly.
Thanks

[Log in to Reply] [No Email]

Perette

09-13-2005 07:43:19

Report to Moderator

Thank you folks so very much! in reply to perette, 09-12-2005 10:35:27

I think I would like to go Incorperated just so I would be protected alot more from liability and also if my company went belly up for some reason, my credit wouldn't be destroyed. I got alittle taste of the buisness as I have been doing a couple drives in the winter, rototilling the neighbors gardens, brushhogging and stuff like that for a number of years now. I also got a taste of full time landscaping this spring when I landed a job that lasted a month and a half doing spring clean ups, laying down bark mulch, putting in flower beds, and mowing lawns. I loved it, but this particular landscape company got caught in financial troubles, and I got laid off. That also tought me a good lesson, his company had done very well in the past few years, he then went overboard on his new equipment purchases, anyways, I don't want to put his personal life on the internet, but to make a long story short he had basically borrowed every cent he could from the bank to buy this and that (a bunch of stuff he really didn't need) and even though his truck left the yard every morning at 8:00AM working 6 days a week, his prices had to be so high to pay his bills that he lost his clients to the competition who was charging less than half, so he lost his shirt, everything he's got is now for sale, his hired hands have been told they will be out of work soon. Sad too, because this guy had a very well established buisness, was well known, and had landed some of the biggest fish for clients and he did excellent work. All gone now.
I really appreciate all the advice I have recieved so far and everybodys positive enthusiasm. I do want to start this buisness, I've got nothing to lose and only could gain, it would be an even bigger loss for me to do nothing as I am 21yrs old, still live with my parents and don't have a job AGAIN! and I've put my best foot forward to find work, but always get overlooked somehow, so I want to start this buisness and like I said, I have been doing this on a small scale for years and loved it.

[Log in to Reply] [No Email]

Dug

09-13-2005 17:44:19

Report to Moderator

Re: Thank you folks so very much! in reply to Perette, 09-13-2005 07:43:19

Perette,

Sounds like you have decided to do it. But again, an LLC is much more accomodating for your situation than an S-Corp. Make an appointment with the SBA and get your business plan in order.

Dug

[Log in to Reply] [No Email]

havvey

09-13-2005 04:40:01

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

perrete look at contracts and hold harmless papers
for jobs that are large or involve risk. Also study job pricing it is a big key to making it. An old timer told me better to be high bid and lose job than low bid and lose your shirt.

[Log in to Reply] [No Email]

Dug

09-12-2005 21:56:41

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

There is some good advice here! Start with the Small Business Administration, they are set up to help small businesses get started and continue in business. Second step would be a good accountant, not necessarily a CPA, then onto an insurance agent. And finally an attorney, although the SBA will normally be able to handle much of the legal work, such as establishing an LLC (Limited Liability Corp, you won't need to establish an S-Corp, far too much detail for what you are trying to do.)

Finally, after everything is set up, get your marketing in order. The best laid plans will fail miserably without a solid marketing plan. An ad in the paper will produce minor results. If you go this route, use small, cheap and plain classified ads and plan on keeping them in place indefinately. Most folks will see an ad numerous times before they actually call you. Posting "bulletins" around town will produce results similar to those found in the classifieds. Your best bet is the yellow pages and beating the streets to get word of mouth started. You are going to have to become a good old fashioned salesman to make this thing happen.

And most importantly, be ready to be poor BEFORE you make your first buck. Don't want to discourage, but most businesses fail during the first year because of lack of planning or finanical issues.

Best of luck,

Dug

[Log in to Reply] [No Email]

Hermit

09-12-2005 19:23:57

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

I would recommend going to the Small Business Administration website. It has tons of useful info on starting a business, covering all aspects.

Link

Also, check out the government's business website. It has lots of info on dealing with government regs and laws.

http://www.business.gov/

[Log in to Reply] [No Email]

Case Lady

09-12-2005 18:44:47

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

Also, you might check into setting up a limited liability corporation or a sub-S corp. Come up with a written lease for all your equipment and lease the equipment from yourself to the corporation - this will need to be notarized and filed with your local county court clerk. This does two things, it limits what the corp. owns in case someone does actually try to sue you for everything you own - but this will require you to set up a seperate set of papers and checking accounts - keep your personal stuff away from your company stuff and in most states there is a cap for what a corp. can be sued for. You can go to the Secretary of State/your state website on the internet and get most of the paperwork you will need. In most states, it is going to cost you about $100 or so to incorporate and you might want to spend the extra money to get either a CPA or an attorney to do the leg work for you. And also, be sure and find a good accountant to do your books, figure your taxes, etc. The IRS just loves small business owners who don't take the extra time and expense to do things right to start with. Best of luck to you! Case Lady

[Log in to Reply] [No Email]

Davis In SC

09-12-2005 17:16:38

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

If you are going to be digging anywhere you think there could possibly be any buried water,phone or powerlines.... Call the locating service number, to get lines marked. Here, it is free. If they miss one, & do not mark it, you are cleared of fault if it gets damaged... If you do not request locating, or damage a marked line, it can get very expensive. A friend was working, landscaping, & snagged a high-voltage cable, just several inches deep, turned out it was supposed to be buried several feet.. He was luck , not to be electrocuted...

[Log in to Reply] [No Email]

BobinKY

09-12-2005 16:56:30

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

Hey Perrette. Go for it! I admire you for taking the initiative to go ahead with your plans. Sounds like you have enough equipment to get started. Once you get into it, you can refigure your needs and keep upgrading. I will tell you that my nephew in the St. Louis area was approached by a developer to finish new homes. He is asked to backfill the foundation, level the yard and pulverize the soil, sew grass seed and blow straw. He was offered $1500 per home. He bought liability insurance for $200 per year. This covers up to $1,000,000.00 in damage. He is 18 years old and starting his Freshman year in college. He does this on the weekends when school is in session. It is a great business and he can make a lot of money at it. You may want to talk to the developers. Just a word of caution. Even though it will be tough at first, go ahead and pay what you owe in taxes and social security. You don't want to leave the door open to the IRS coming in a couple of years from now and auditing you for seven years of back taxes. That will sink you ship in a hurry. I could tell you horror story after horror story about this, but I will spare you. Just do it! A good Accountant should be able to help you set up some type of arrangement where your business buys your equipment from you, so that you can defray some of your income. Good luck and keep us posted.

[Log in to Reply] [No Email]

John (MO)

09-12-2005 13:44:36

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

Talk to a local CPA first, they will help you with what you need to do for local, state and federal government. Then if you go through with it, buy more insurance than you think you'll ever need, it still won't be enough. I think it could be a good business. But it is a business and if you don't treat it as such, someone will sue you and take everything you will ever hope to earn.

[Log in to Reply] [No Email]

havvey

09-12-2005 12:26:57

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

short on time but insurance is a must and book keeper/taxes. Advertising is critical (to get going) you may have to do alot of small extra jobs carpentry lawn mowing garbage removal etc for a bit then specialize in some area. It is not easy and your equipment will wear out before its paid for. you will need to find some larger jobs i e towns, large companies, large estates where you can make a sizable check once in a while.

[Log in to Reply] [No Email]

09-12-2005 12:23:52

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

Just make sure you are insured. It will show that you are legitamate and serious about what you are doing to the honest folks & protect you at the same time.

[Log in to Reply] [No Email]

Mike M

09-12-2005 11:54:47

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

As soon as you start doing it the "right way" with proper insurance,lawyers,cpa,vendors license,etc,ect. Your fun will disappear and expenses will double.You will spend as much time doing paperwork as the actual real work.

I would say that if you had a wife working getting health insurance or if you have a job now and just do this as extra. Keep everything simple and small CASH only no books no records everything under the table and into your pocket. But if you don't have anything else to put on a 1040 form to keep the Gestopo (IRS) off your back then you are going to have to go all out, legal paperwork and all and pay into Social Security out of pocket.

[Log in to Reply] [No Email]

Perette

09-12-2005 12:09:59

Report to Moderator

Re: O/T Starting my own Buisness in reply to Mike M, 09-12-2005 11:54:47

I'm looking to make this my primary income source. I'm not married and currently unemployed. I need to start this buisness up because the job market is so poor here, there are 4 people for every 1 job opening. Plus it's what I want to do. Thanks

[Log in to Reply] [No Email]

Mike M

09-12-2005 17:10:13

Report to Moderator

Re: O/T Starting my own Buisness in reply to Perette, 09-12-2005 12:09:59

With no other sources your are going to have to go legit (expensive) route. Good luck in your venture.

[Log in to Reply] [No Email]

Dave H (MI)

09-12-2005 11:21:58

Report to Moderator

Re: O/T Starting my own Buisness in reply to perette, 09-12-2005 10:35:27

There are guys who do that for their main living. Maybe the fact that I am one of them makes me a LITTLE prejudiced but let me state my case. You post for info like that on the internet and you will get some really good advice here and some not so good advice. You have to be able to tell which is which and act accordingly.
I would recommend that you look around town for a CPA and call a few and find out what the cost is for a one hour sit down. Here it would be around $65 and I have never had a person stand up and say it wasn't worth it. Check rates carefully as there are some high priced people out there, but anything under $100 to find out all you need to know and get referrals for insurance etc PLUS info on tax planning and the benefit of years of experience dealing with similar enterprises is a real deal. Listen to all these very wise gentlemen here and print out their responses. Use this info to formulate specific questions and then go see a professional and do it right. My 6500 cents worth.

[Log in to Reply] [No Email]

Harley

09-12-2005 12:20:46

Report to Moderator

Re: O/T Starting my own Buisness in reply to Dave H (MI), 09-12-2005 11:21:58

Git-er-done. It's the American way, work for yourself. BTDT. The only thing, and take it from somebody who knows, you MUST have at least liability insurance on your equipment to protect yourself against damage to other people's property. Say you are working in the back yard, between the rose bushes, and the clothesline, straddling the sidewalk, and the rear tractor tire goes through the lid of the septic tank. Ouch, somebody is gonna own your equipment. Or your backing up with the loader and paying attention to what you are doing in front of you and the guys wife comes home and parks right behind you where nobody has been all day. Another ouch, $3500.00 damage to her Lexus. You get my drift. That's saying nothing about the taxes. If you don't pay into SS, sooner or later you're gonna get old, and ifn you haven't paid in, you're not gonna get to collect anything when you're old and senile. BTDT too. But all that aside, good luck and go for it. Harley

[Log in to Reply] [No Email]

perette

09-12-2005 13:46:57

Report to Moderator

Re: O/T Starting my own Buisness in reply to Harley, 09-12-2005 12:20:46

Thats what I was afraid of, I was afraid I might crush somebodys leach lines for their septic or hit something while clearing snow from someones drive, or whatever and be held liable. Great advice, SS hadn't even crossed my mind yet.
Thanks a bunch!

[Log in to Reply] [No Email]

Mike Van

09-12-2005 12:42:29

Report to Moderator

Re: O/T Starting my own Buisness in reply to Harley, 09-12-2005 12:20:46

Hey Harley, musta just broke the headlight on the Lexus - $3500 doesn't go far there! No kidding Dave, insurance is a must, there are people that make THEIR living suing guys like us.

[Log in to Reply] [No Email]

Harley

09-12-2005 17:39:29

Report to Moderator

Re: O/T Starting my own Buisness in reply to Mike Van , 09-12-2005 12:42:29

Ya just got off lucky I guess, with about 15 years in the dirt game, never screwed up REAL bad, but probably had a close call about every other day. We had a saying down around Branson, Mo during the boom. "If you dig, they will come". All you had to do was set a backnoe up and you would have 3-5 old farts standing on the edge of the hole looking down in, just to see what you were digging up. You had to watch them, traffic, what you were uncovering, lines, etc., watching for what wasn't supposed to be there, cars pulling in behind you, well you get it. Sure am glad I'm not down there now. My people skills have gone from non-existant back then to way down hill now. Couldn't handle it. Harley

[Log in to Reply] [No Email]

[Options] [Printer Friendly] [Posting Help] [Return to Forum] [Log in to Reply]

TRACTOR PARTS	TRACTOR MANUALS

We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]

Home | Forums

Copyright © 1997-2023 Yesterday's Tractor Co.
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy

TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters

Website Accessibility Policy