In this conversation, Rayne Gibson shares his extensive experience in the nursery and landscape industry, discussing the challenges and assumptions that landscapers face when considering owning a nursery. He emphasizes the importance of understanding inventory management, market needs, and the distinct business models of nurseries and landscaping. Rain also highlights the significance of passion for both plants and business, and offers insights into successful strategies for nursery ownership, including the potential benefits of partnerships over outright ownership.

takeaways

• Inventory is not an asset; it is a liability.
• Nurseries are cash-hungry businesses requiring significant upfront investment.
• Passion for plants does not guarantee business success.
• Understanding market needs is crucial for nursery viability.
• KPIs for nurseries differ significantly from those for landscaping businesses.
• Successful nurseries often have in-house design teams.
• Partnerships can be more beneficial than ownership in the nursery business.
• Effective inventory management is key to profitability.
• Landscapers should absorb extra costs to ensure nursery viability.
• Do your homework before investing in a nursery.

Sound Bites

• "It makes sense if there's a market need."
• "Inventory is not an asset, it is a liability."
• "If you can't say yes to both, don't do it."