New, Used, or Lease? And WHEN?
As a small business owner it has been nothing short of challenging to build a business from nothing. I came from nothing and have built this thing from the ground up. I didn't have a lot of money. When I first started I couldn't afford company vehicles. I eventually bought used vehicles in the $20K-$30K range and financed them and that was fine until I unexpectedly slowed down and had to sell off my trucks just to survive. Once I rebuilt from the slow down I decided to buy used vans around $9K to $10K cash. Right now I have 6 vehicles. One of those vehicles needs major work done. And the others are all 100K miles or more and I feel like they are just ticking time bombs. I want the reliability of newer, or leased vehicles but the risk intimidates me after my struggles in 2022. Is there a formula for when you should go from paying cash for used, to financing newer/new, and to finally leasing? Is there a revenue metric, a number of vehicles in your fleet, or some other sign that going one route over the other is more advantageous or less risky? Thanks for taking the time to read this and share feedback!Maintaining Your Equipment: Tips & Tricks from the Pros”
As a business owner, keeping your equipment in good shape is key to staying efficient and reliable. I’ve learned that regular maintenance and knowing when to upgrade or replace tools can save a lot of headaches down the road. What are some of the tools or equipment you can’t run your business without? And how do you keep track of maintenance or repairs?”* Maintaining your equipment is essential for keeping your business running smoothly. Over the years, I’ve learned that regular maintenance and staying on top of repairs can prevent costly breakdowns and delays. Some of my go-to tips are scheduling monthly check-ups, keeping track of warranties, and having a solid backup plan for when equipment goes down unexpectedly.Sticker SHOCK! 😲
I have been doing my office's annual purge and came across some old invoices from the earliest power equipment my business purchased. Believe it or not, some of the equipment I use has doubled in price for the replacement model at today's cost. Since it is our responsibility as owners to be profitable enough to replace/repair equipment as needed, I find myself adjusting my equipment cost recovery number upward almost monthly in my budget. How often are you adjusting your cost recovery upward to adjust for the ongoing inflation?Lease or buy: What's your rule when shopping for a work vehicle?
How do you decide whether to buy new, buy used, or lease work vehicles? Share what you've learned from your experience below!👇 In this Masters of Home Service episode, Beau Batcheller and Kyle MacDonald dig into the true cost of fleet ownership and explain how to build a reliable fleet without hurting your cash flow. Looking to simplify fleet management? Learn more about the Force Fleet Tracking and Jobber integration: https://bit.ly/3QRTIWN Never miss an episode of Masters of Home Service. Subscribe on Apple, Spotify, or wherever you get your podcasts.
You Quit Your Job to Start a Business — So Why Gamble on a Used Truck?
Everybody says the same thing: “Just buy a used truck, it’s cheaper.” Yet, That same truck breaks down 3–6 months later. Now your jobs are delayed. You’re borrowing vehicles from your spouse or rental. You’re stressed out and behind on bills. And suddenly the “cheaper option” is costing you way more. Here's my personal take: You quit your job ... You are betting 100% on yourself, to care for your livelihood. If you’re betting your whole future on this business — why risk it with a vehicle that might leave you stranded? I hate blaming others, or the lack of accountability. So if I can control one variable — like my ability to show up to the job, that will pay me for my services... I’m going to do it. But that's just my opinion. My hot take, What do you all think? I created this visual for myself to follow and share whenever anyone is deciding to get a vehicle.Is Jobber's dedicated business phone number a game changer for small businesses?"
So i had a brake and was watching reels and saw that Jobber offers a dedicated business phone number that lets customers text and call while keeping everything tied to your business. That's definitely A game changer 💪... For those of you using it: • Has it helped you win more customers? • Do clients respond more when they recognize your business number? • Is it better than using your personal cell phone or services like Google Voice? • Would you pay extra for this feature, or is it something every CRM should include?
What are the best tool deals for contractors right now?
Check out the promotion at your local Home Improvement stores when buying portable equipment. Milwaukee is currently running a special deal on portable power tools. Buy the battery pack...get the tools for free. Very amazing deal on great quality and great price!
