Every industry has challenges that will likely never go away. The proof lies in almost every article you read about current or upcoming challenges for popular types of businesses. Trends change but there’s a good chance that the challenges you’ll read about are the same challenges these businesses have been dealing with for generations. This is a big reason small business loans remain a vital tool for any business that needs steady cash flow to survive. Some challenges are simply unavoidable. There’s just no point in trying to overcome them with the limited resources you have to go around.
Landscaping companies are well-aware of this predicament, even those with strong reputations and years of experience. Here are a few ways small business loans can help landscaping companies conquer the top challenges their industry is facing today:
Finding And Retaining Quality Employees
Finding, training and managing quality employees has always been a struggle for landscaping companies. The longevity of this struggle likely stems from the numerous factors that are to blame. First is the fact that the business owner must constantly search for two types of people. They need employees who are looking to climb the ranks and eventually secure management positions. But these employees are useless without the extra manpower required for busy periods or large projects. And both types of employees must be comfortable adapting to new conditions and demands from customers.
In order to make their field seem more desirable, landscaping companies must show potential candidates that working for them will be a rewarding and professional experience. For example, many landscaping companies have trouble recruiting younger employees because of a “skills gap” when it comes to using modern equipment. Younger employees require extensive training, which is hard to do when you hire them just days before a new project is underway. Seasonal employees should be fully-trained by the time the busy period is about to begin. And if you’re looking for potential long-term employees who might fill those management positions, you can’t cut their salaries or let them go when the slow season sets in.
It’s All About Timing
At United Capital Source, we are used to working with borrowers involved in tumultuous or seasonal industries. You don’t have to have just finished the biggest projects of your life in order to be approved for our various small business loans. We often approve working capital loans, merchant cash advances, or business lines of credit in the closing stages of slow periods. This allows companies like landscaping businesses to search for and train new recruits without compromising the need to finish an upcoming project on time. They can also save more money by paying equipment suppliers upfront. And rather than expecting the company to begin making fixed monthly payments as they are preparing for or starting a project, we would reserve substantial repayments for when the business is fully compensated.
Government Regulations Can Catch You Off Guard
As if buying equipment wasn’t enough of a headache for landscaping companies, government regulations can make it even more stressful on your bank account. These regulations state which pieces of equipment companies must and must not use. If you do not obey regulations related to things like protective gear, vehicle-mounted elevating and pesticides, you could face serious violations that could cost you precious cash and business. The only problem with new regulations is that you weren’t able to factor them into your budget and cannot afford all this new equipment.
When regulations arise out of nowhere, look no further than United Capital Source to prevent violations or anything else that could delay an upcoming project. Yes, we are not the only business lender capable of approving and distributing funding in 24-48 hours but other lenders typically offer only one program with non-negotiable terms. Our terms, on the other hand, can be customized to ensure that you continue running your operations smoothly. Even if that means postponing the majority of your repayments for when your cash flow has re-stabilized and your financial future is more clear.
We Know How Important It Is To Be Reliable, Too
Our vast experience with the landscaping industry has shown us the tremendous importance of reliability. This is one of the few businesses where customers aren’t just looking for the quickest or cheapest job. They want a landscaping company they can trust to do quality work time and time again. In order to amass this kind of reputation and track record, you must always possess the means to exceed your customers’ expectations. The bare minimum simply isn’t enough. So, when calculating the cost of a project, don’t just factor in what you need to get the job done. Factor in what you need to ensure this customer doesn’t think twice about who to call for the next job.
This may very well lead you to contact a company like United Capital Source. We are prepared to help you foot considerable upfront expenses and pay your employees before full compensation comes in. After your first round of funding with us, you’ll be impressed to learn that you aren’t the only person who knows how to exemplify true dependability.