Is A Landscaping Business Profitable?
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Across Australia, there are over 15,000 landscaping service businesses hard at work keeping residential and commercial properties looking great. These professionals specialize in caring for plants, designing landscaped areas, and maintaining irrigation systems. This field can be highly profitable for aspiring landscaping entrepreneurs. It’s important to understand how much money you can make by owning your own landscaping business.
Is A Landscaping Business Profitable?
Landscaping companies perform a wide range of services from mowing lawns to building retaining walls to creating architecturally pleasing landscaping designs. The rate for each service may vary significantly depending on the scope of the project and the needs of the client. The hourly rate for most landscaping services ranges from $50 per hour to $100 per hour.
A simple landscaping service business can reasonably generate between $100,000 to $200,000 per year. Of course, larger landscaping businesses with multiple employees can make even more. The average landscaper, after taxes and expenses, can bring home approximately $65,000 per year with highly-experienced landscaping professionals earning upwards of $76,000 per year.
How To Maximise Profits For Your Landscaping Business
Each landscaping business is unique. Earnings and profits can vary depending on location, specialization, time of year, and how the business operates. Fortunately, there are some simple things most landscaping businesses can do to maximize profits.
- Work Efficiently - Many landscaping projects are quoted at a set rate. The more time you spend working on the project, the lower your profits. To improve your profitability, carefully track the number of hours you work and figure out ways to make your work processes more efficient.
- Do More Billable Work - The more time you spend working on administrative tasks in your business, the less time you will spend in the field completing billable work. If you are spending hours doing tasks like bookkeeping, it may be a good idea to hire a professional to handle this work for you.
- Purchase Quality Tools And Equipment - Low-quality tools and equipment may have a lower upfront cost, but they will wear out quickly ultimately leading to higher costs. Instead, invest in good quality tools that will last a long time.
- Track Margins - Some projects and jobs will create more profit than others. By tracking your profit margins on jobs, you can focus your efforts on selling more high-margin projects. You may also decide to stop offering low-margin services. Understanding your cash flow and managing it effectively is essential to maximising profits for your landscaping business.
- Hire More Landscaping Workers - At some point, your business will generate more work than you can handle by yourself. You can increase profits by hiring additional landscaping professionals so your business can complete more projects. Be sure to validate if the cost of hiring employees is less than the revenue they can potentially generate for your business.
Protecting Landscapers With Business Insurance
A well-managed landscaping service business can generate a lot of profit. It’s important to make sure your profits are protected from lawsuits or claims made against you or the business. The perfect tool is to carry a comprehensive liability insurance policy. At upcover, our mission is to guide landscaping business owners to the coverage they need. Check out our instant quote generator where you can get an estimate on market-leading insurance in seconds! Simply enter your occupation and expected revenue to get started.