Business Organization

I started my Lawn Mowing Service as a mend proprietorship. I bought the lawn mover, edge trimmer, gasoline, and rake. I mowed neighbors yards. I got wholly the profits. If I did a bad job, or could not mow because of weather, I took a loss. I was very successful and made a standoff of money and had 100 yards to tend every month. But I got timeworn of mowing 100 yards a month and working between 10 and 12 hour days. I needed help. I asked my parents if they would help and I would net income them half of what I made on each yard they mowed. They utter No, we insufficiency the full amount for each yard mowed. The only bureau that they would be able to get the full amount is to produce their stimulate yard service tools. If I had to provide them, I did not want to lose money for my material. We agreed to a deal that everything would be 50/50. This is when we formed a partnership. We agreed to 50/50 as they would don half the work and produce half the equipment needed. Even thou gh it was my mood and melody, 50/50 is better than no help at all and they are footing half the expenses. With this help, my descent was growing faster and we were do money equivalent crazy.With our business growing, other members of the family wanted in on the action. However, none of them wanted to actually work directly on the business as they had other jobs and did not want to work out in the heat. So, we formed a limited liability company. Each of them put up an investment, and we purchased more lawn service tools and trucks so we could easily move large mowers virtually town. The investment was also used to advertise the business. With having more customers now, we hired nonrecreational people what would do a great job of mowing yards and would be well-disposed with our customers.With having more customers, all the investors were paid back their investment and were now devising a profit. At this point we were ready to amplify our business to let in tree service as w ell as landscaping. We wanted to boom so we could get contracts with the county, city, and state to mow the grass along the highways, interstates, and county roads. To expand our business, we needed a bestow. We went to the bank, but they bank give tongue to No. Your business is too small and you do not have any assets to hide out the loan. So, we decided to form a joint-stock company and made the stockholders liable for debts. In other words, we used their houses and or vehicles as collateral. When we went back to the bank they said Yes, a loan is no problem. If you dont make good on the loan well use the collateral to repay the debt. With the money we were ready to expand. At the last(a) minute we decided to buy a piece of property and make up our own nursery. This now allowed our customers to come and pick out plants that they would like to see in their landscaping instead of us taking them to a competitor to purchase plants.