Advice on working for myself

[MJPD29]

Hi guys I have been thinking about going out on my own for a while now and I feel like I've had enough of working for the all important boss man, i was just wondering if any of you had any advice or help on going out in my own. All comments great appreciated thanks.

 

[telectrix]

factor in about £100/week for overheads.. van,insurances, etc. then work out what you need as a weekly income, bearing in mind that on average you will have 40 weeks earning per year. divide the weekly income + £100 by 40 to come up with a hourly rate. that will be the minimum hourly charge to the customer.

 

[Andy78]

Start off with as little expenditure as possible and a good dose of capital to help you along.

Get free listings on the web asap especially ones that you can collect reviews on, and encourage reviews from all customers. I get a large proportion of work from my web reviews when people do searches.

Treat the early slack days as a day at work. If you have no work, spend it trying to generate work through whatever means.

Set out your rates and stick to them, you'll soon get to be a dogsbody for skinflints if you try to be the lowest price.

 

[MJPD29]

Thanks guys I will take all that on board

 

[telectrix]

to be competitive, your hourly rate should be £20 - £30. usual to charge £40 - £45 for 1st hour to cover travel.

 

[Octopus]

Take a look at the business section on the forum. There have been loads of threads like this.

As for overheads factor in £25 per day , assuming you have a vehicle you own ...

 

[MJPD29]

Thanks again I'll take a look there. Already have my own van and hand/power tools as they were required for my previous job

 

[Squid]

Keep all receipts and keep track of expenditure and anything you can claim for, you will need insurance so factor that in.

 

[Dave Jenkins]

Here's one for you that I've found to be really useful:
I keep a daily record of journeys - date, mileage, destination, time out, time in..
Perhaps a tad over the top but invaluable if you can't remember where you've been on a particular date...

 

[123]

Are you planning to focus on domestic and small commercial?

For Belfast area being an NIC EIC Approved Contractor may be of benefit. I've a couple of mates who are sole traders in Belfast area and they get a lot more work now because of it.

 

[HappyHippyDad]

Best advice I can give is DO IT!
Dont be scared by the thought of having to fend for yourself, or rather do be a bit scared but do it anyway.
I gave up my job 8 months ago and it feels bloody great being my own boss.
Give it a go, if it doesnt work out then you go back back to a paid position!

 

[Dave Jenkins]

Get yourself a good accountant too....will save you money long term!

 

[MJPD29]

Thanks everyone for the comments! I have to admit it feels like a big step but I think it's best that a I give it a go rather than put it off