Business Organization

I started my Lawn Mowing Service as a sole proprietorship. I bought the lawn mover, marge trimmer, gasoline, and rake. I mowed neighbors yards. I got all the profits. If I did a bad duty, or could non mow because of weather, I took a loss. I was very successful and made a lot of gold and had 100 yards to tend every month. But I got tired of mowing 100 yards a month and operative between 10 and 12 hour days. I needed help. I asked my parents if they would help and I would commit them half of what I made on each yard they mowed. They said No, we want the full union for each yard mowed. The only way that they would be able to get the full amount is to go their own yard service tools. If I had to provide them, I did not want to lose coin 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 take half the work and produce half the equipment needed. Even though it was my idea and channel, 50/50 is better than no help at all and they are footing half the expenses. With this help, my business was growing faster and we were making money like 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 piece up an investment, and we purchased more lawn service tools and trucks so we could easily move large mowers around town. The investment was alike used to advertise the business. With having more customers now, we hired professional people what would do a great job of mowing yards and would be friendly with our customers.With having more customers, all the investors were paid back their investment and were now making a profit. At this point we were put together to fly off the handle our business to include tree service as advantageously as landscaping. We w anted to expand 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 contribute. We went to the bank, but they bank said No. Your business is too small and you do not have any assets to cover the loan. So, we decided to form a joint-stock company and made the stockholders credible 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 minute we decided to buy a piece of property and open up our own nursery. This now allowed our customers to come and pick out plants that they would like to see in their landscaping quite of us taking them to a competitor to purchase plants.