If you have experience mowing lawns and want to be your own boss, starting a grass-cutting business might be for you. This article will provide an overview of some legal and commercial considerations for starting a lawn mowing business. <\/p>\n\n\n\n
Most businesses benefit from a business plan. You can think of a business plan for your landscaping business as a roadmap to follow for the first few years. Some things to consider:<\/p>\n\n\n\n
Your biggest expense is likely to be acquiring a lawn mower. Assuming you intend to mow any piece of land bigger than a quarter acre, buying a ride-on lawn mower will be more efficient. The price of ride-on petrol mowers ranges from \u00a31,500 to \u00a34,000. There are also electric (battery-powered) mowers entering the market. The downside is these tend to be more expensive and may have less range. However, the upside is that you will save on fuel costs in the long run. <\/p>\n\n\n\n
No matter what, you need to determine how you intend to pay for it. For example, will you seek a loan from the bank secured on the mower? Do you have savings you can use? <\/p>\n\n\n\n
You will also likely need to finance a vehicle to transport your lawn mower. For example, this might be a van, a truck, or some other vehicle that can pull a trailer. Other upfront costs to consider are:<\/p>\n\n\n\n
A business structure<\/a> refers to the legal framework your landscaping business will operate within.\u00a0<\/p>\n\n\n\n The four most common business structures for all businesses in England and Wales are:<\/p>\n\n\n\n Each has its advantages and disadvantages that are relevant depending on your particular circumstances and intentions. However, as a business founder, you should familiarise yourself with the implications of trading through an unincorporated business structure instead of an incorporated one. <\/p>\n\n\n\n Notably, sole traders and general partnerships are unincorporated. Whereas limited companies and LLPs are incorporated. <\/p>\n\n\n\n The main benefit of an incorporated lawn-mowing business<\/a> is that you tend to benefit from the legal principle of limited liability. Hence, your business\u2019 assets and liabilities are separate from your personal ones. The downside to trading through incorporated structures is that they require more administration and management.\u00a0<\/p>\n\n\n\n However, if you run a small lawn mowing business by yourself, you will unlikely benefit from limited liability, particularly if you have a decent insurance policy in place. However, if your business works with commercial clients, has multiple contracts, multiple employees, or works in a wide market, you may benefit from incorporating your business.<\/p>\n\n\n\n Insurance exists to mitigate risk and ensure that in the event something goes wrong, someone other than yourself (i.e. an insurance provider) will cover the financial liability.<\/p>\n\n\n\n It is not a legal requirement to have insurance if you operate without any employees. However, from a commercial point of view, it is extremely prudent to buy an adequate insurance policy. <\/p>\n\n\n\n For example, suppose you regularly mow the lawn of a large sports complex. Then, one day, you lose control of your lawn mower and it ploughs into part of the local football club\u2019s premises. Your mower is totalled. You are injured and cannot work for the next two months while you recover. Additionally, the football club claims that you have cost \u00a310,000 in damages. <\/p>\n\n\n\n If you are uninsured, there is a good chance you would be liable for the football club\u2019s damages. Likewise, you will not have any income while you recuperate, making buying a new lawn mower even more difficult. However, if you obtain a comprehensive insurance policy, you might avoid being out of pocket. <\/p>\n\n\n\n As an aside, if you took out a loan from a bank to purchase the lawn mower, the bank may require you to insure the lawn mower. <\/p>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\nInsurance <\/h3>\n\n\n\n