I want to start a land clearing business. I’m in the process of getting out of all debt aside from my mortgage. My primary job makes over 200k a year (IT sales) and my IT consultation business I’ve ran for years makes 40-50k and is well established and has taught me a lot. I have a small farm as well and am very interested in land clearing as a side gig and hopefully primary business replacement. I know there are tons of these right now but my areas isn’t super saturated and I feel I could do it better and advertise it better with my knowledge of marketing/advertising/sales and IT. A lot of folks around here are old school and don’t even use the internet. Just word of mouth, which is a wonderful source of my side business growth but we get a lot do transplants out here from cities and I think I could capitalize on that.
My biggest issue is I would need not only the compact tract loader (70k) and the mulching head (30k) but my truck and trailer inside today isn’t enough so I would need a new truck (63k) and trailer (10k).
The question I have is this: How does anyone get that far into debt without serious capital upfront on a business that is brand new? Sure I could probably get a track loader or a truck new on my income with debt-to-income ratio being what it is but I don’t think I can swing both. Is there something I’m missing? Will Ford Motor Credit and Kubota just ignore all that and loan it to me regardless? Is there a route for this venture or do I need to just save cash and bide my time?
Thanks.
submitted by /u/metaldrumcore
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