Start Up Costs

[jaydub]

Its true though obvioisly i wouldnt do that, but 25k for an electrician in this day is **** money. You need atleast 3.5k after tax per month to live atleast a half decent life.

Currently take home £1K a month,must be doing something wrong I think!

 

[Andy78]

Currently take home £1K a month,must be doing something wrong I think!

Surely that sort of takehome must have you on minimum wage ?

 

[jaydub]

Surely that sort of takehome must have you on minimum wage ?

£8 and hour

 

[Andy78]

£8 and hour

Hmm, above minimum wage for your age and understandable seeing as you are not a qualified electrician yet, but still not great.

I can see the reason behind your desire for better things. Do you know what wage you will be on when qualified ? Going it alone calls on many areas of skill and it will be a real struggle if you are lacking in diverse experience.

 

[Liam howe]

£8 and hour

I take it your an apprentice then...

 

[jaydub]

Final couple of months before I qualify, I pay for all my own training, supply own tools, use own van, but am on the books.

 

[Diddy]

That is a tight old deal you are on there jaydub. I suppose it depends on where in the country and availability of adult trainees ect.

 

[Liam howe]

I was gonna say.... makes me think what a great apprenticeship I once had.

 

[Andy C]

Best of luck Jaydub, hope things all work out for you lad

 

[Andy_G]

Y

That seems expensive?! £6000 a year? Why/how?

You will have vehicle insurance,fuel and maintenance,you will have to replace tools that you have lost/been stolen,you will need to eat as well so you will need money for food and home costs,every cert you send to your scheme provider will have to be paid for,you may want/need to purchase literature or software to keep your business up to date and competitive,how many pairs of snickers a year will you need at £70 a time,the spending goes on and on and on

 

[telectrix]

i agree with murdoch on the estimate of costs. when you add it all up, £100/week is about right for a 1 man business. to start with your weekly fuel bill for your van/car will be £30-£50, depending on mileage. don't forget that you can simplify your tax return by logging business mileage each month and claiming 45p/mile (for 1st 10,000. 25p thereafter) in tax relief to cover all vehicle expenses.

 

[telectrix]

£8 and hour

that's disgusting. aldi pay more for shellf stackers as a starting wage.

 

[jaydub]

Thanks for all your help guys, much appreciated.

 

[tomspark93]

I was in a similar position about 2 years ago. Thankfully I already had a good selection of tools and organisers etc however even now I keep buying new bits. Cash flow is one of the hardest things to manage when you start off. To be an efficient you'll need to keep a good range of stock on your van which soon builds up. My overheads work out at roughly £20-25 per day.

 

[D00DY_T00DY]

that's disgusting. aldi pay more for shellf stackers as a starting wage.

Old tread but still..
5.55 yey
Own transport,tools, 3rd year apprentice with a year previous experience.