going on my own.....

[adzberry]

Hi all!

I'm a fully time spent qualified spark with experience in domestic,commercial and structured cabling systems.
I'm getting increasingly frustrated with my boss cutting corners and doing anything possible to make money anyway he can. He's also getting a bit of a reputation which I do not want anything to do with.
My main point is wondering whether there ever is a "right time" for setting up your own business?!?

Also do any of you think it would be more beneficial to do the full building services route as a good friend is a plumbing and heating engineer and I was thinking of joining forces.

Any input would be brilliant

 

[monkeyelectric]

If you can guarantee the work then go for it but work is pretty thin on the ground at the moment, good lads with none as all the work is being snapped up by the inexperienced that have no clue what they're doing but get the job because "they're cheap" its like O'reilly on fawlty towers

 

[adzberry]

I know what u mean! I've got a few kitchen fitters builders etc that should keep me busy so gonna have a look into it! Cheers

 

[monkeyelectric]

I know what u mean! I've got a few kitchen fitters builders etc that should keep me busy so gonna have a look into it! Cheers

I never looked back after making the step but i know some lads who done it and were terrified by the insecurity of no regular wage, no holiday pay and ended up going back to work for someone, good luck with it

 

[telectrix]

the sad thing is that most guys who go it alone end up with the housebashing and where the customer's priority is cheap as they can get it.

 

[monkeyelectric]

the sad thing is that most guys who go it alone end up with the housebashing and where the customer's priority is cheap as they can get it.

I agree, i enjoy house bashing though, most of the time! I never back down on my prices though and i've not lost a job yet! Most of my work is word of mouth which is definately the best form of advertising, better customers i think. I do have a few commercial customers though and they're buggers for wanting to cut corners just to get things working again

 

[chopper76]

I agree with all the guys above, stick to your prices and morals it can only set everything at a certain level within your area, I never looked back since I went on my own 13 years ago either, but its a way of life not a 8 til 430 thing, paperwork invoicing tax vat certificates pricing call outs to at least your best customers, after all that you might be able to squeeze your family and if your lucky the pub in somewhere!!

 

[monkeyelectric]

I agree with all the guys above, stick to your prices and morals it can only set everything at a certain level within your area, I never looked back since I went on my own 13 years ago either, but its a way of life not a 8 til 430 thing, paperwork invoicing tax vat certificates pricing call outs to at least your best customers, after all that you might be able to squeeze your family and if your lucky the pub in somewhere!!

Surely pub then family

 

[Octopus]

The question you need to ask is how long can I live with a lower/inconsistent income coming in?

Should you start by working on "private jobs", having your own PL ins and scheme signed up & HMRC SE number?

 

[adzberry]

That's what I was going to do. Start advertising and building up a client base doing "private work" then eventually going full time.

The kitchen fitters and builders I know that want me to do their work, could potentially keep me busy 3 days a week every week! Which is swaying me towards taking the big step

 

[Andy78]

That's what I was going to do. Start advertising and building up a client base doing "private work" then eventually going full time.

The kitchen fitters and builders I know that want me to do their work, could potentially keep me busy 3 days a week every week! Which is swaying me towards taking the big step

Sounds very promising, and sounds like possibly enough work to keep you going while you build up a customer base of your own. Some very good advice in this thread, stick to your price, don't cut corners, be prepared for long hours and low income. Get some capital behind you as well before you start, you will certainly need this to fund jobs and act as a buffer when work is low. Very best of luck.

 

[RmBo_0]

I decided to go on my own and have been for a couple of years now. First year was very difficult and had a lot of sleepless nights but things are starting to pick up. Got in with a few big firms that are keeping me supplied with work.

You'll have to be prepared to take on all the extra work that comes with it as well. Like invoicing, pricing up filling in all the forms, sorting your accounts, worrying about where the next job is coming from which you won't be getting paid for.

But saying that I do really enjoy the freedom and being my own boss.

 

[adzberry]

That's what I'm thinking. Just the freedom of working your own hours, not being told what to do.... When you know it's wrong etc.

I'd never cut corners, it's just not the way I do things. Thanks for all the input, I'm not under any illusions that it would be easy it's just something I'm eager to get stuck into

 

[Octopus]

Good man. So sit down and list ALL of the expenses you expect to have over the year, don't be surprised if its between £5 & £6K!

 

[amlu]

first year can be tough. i managed to get all moneys invested in tools, tester and van insurance back, pay some rent and cheap food every day, but not much more.