Starting Out On Your Own, Isit worth it?

[Rosko1987]

Hey everyone, how do?

Im seriously considering starting out on my own. I live in Glasgow and for the last 3 years iv been in and out of work and on average im lucky to be working 7 or 8 months of the year through no fault of my own. I find myself at the crossroads of whether to change career all together or maybe try and go out on my own. My mate recently bought a new house and iv spent the last 2 weeks doing various different bits and pieces there such as a kitchen and new lights and so on and iv actually enjoyed being an electrician for the first time in the last 3 years. So I guess im looking for advice from the people of electricians forum. Here are some questions i have, if you can answer them id be very greatful...

1: Firstly, with us being in the worst ever recession, Is this really a time to start out on my own?

2: If youve your own business, How are finding it? has the recession had a big impact on you?

3: How did you go about starting up?

4: How much do you charge? do you charge a call out charge?

5: Do you work yourself? or when you started out, did you start with somebody else

Anything else I can think of ill add as i go. And if youve any other advice or ideas id be delighted to hear them. Thanks again

 

[bigbaddave]

Starting on your own is hard, Especially if you are very early in the trade. I Mean the hardest part is getting your customers. I started out and was working the odd weekend here and there whilst still working for my company. Spent a few quid on advertising but the best form of advertising is work of mouth.. Other than the jobs above what else have you got on ?

Dont expect to start on your own and then have work coming out of your ears as im affraid it aint going to happen

 

[LH ELECTRICAL]

Hi
I started out on my own after the firm I worked for went bankrupt and that was a year ago and to be honest it was hard at first but now I seem to be doing ok, but it's still hard and especially with all expenses like van insurance, public liability, advertising, registration, tools, fuel.
And with pricing it's all guess, Your best off asking some electricians in your area and getting a average price.
Best of luck

 

[Octopus]

Hey everyone, how do?

Im seriously considering starting out on my own. I live in Glasgow and for the last 3 years iv been in and out of work and on average im lucky to be working 7 or 8 months of the year through no fault of my own. I find myself at the crossroads of whether to change career all together or maybe try and go out on my own. My mate recently bought a new house and iv spent the last 2 weeks doing various different bits and pieces there such as a kitchen and new lights and so on and iv actually enjoyed being an electrician for the first time in the last 3 years. So I guess im looking for advice from the people of electricians forum. Here are some questions i have, if you can answer them id be very greatful...

1: Firstly, with us being in the worst ever recession, Is this really a time to start out on my own?

2: If youve your own business, How are finding it? has the recession had a big impact on you?

3: How did you go about starting up?

4: How much do you charge? do you charge a call out charge?

5: Do you work yourself? or when you started out, did you start with somebody else

Anything else I can think of ill add as i go. And if youve any other advice or ideas id be delighted to hear them. Thanks again

Before you take the plunge do a business budget to get a handle of all your costs, then add on the gross salary you'd like to earn then divide the total by 200 and this will give you a target day rate. Once you've got this you have to accept you'll not work 200 days in the first 2-3 years - so how will you make ends meet?

The cruel realities of running a business.

 

[Rosko1987]

Cheers for the replies. Iv obviously still alot to look into and cost. Just looking for some initial advice and so on. Thanks again

 

[Octopus]

If you decide to go it alone one thing you will need is cash to tide you over between buying kit and all the late payers.

 

[Rosko1987]

Out of interest, How much do would public liability and van insurance cost? im loking for a rough cost for a 25 year old working from home with a clean liscence and a small diesel van? not looking for exact figures, rough estimates would be good

 

[Octopus]

PL - £100

Van - £1500

 

[Rosko1987]

Cheers Murdoch

 

[grantr37]

Hey everyone, how do?

Im seriously considering starting out on my own. I live in Glasgow and for the last 3 years iv been in and out of work and on average im lucky to be working 7 or 8 months of the year through no fault of my own. I find myself at the crossroads of whether to change career all together or maybe try and go out on my own. My mate recently bought a new house and iv spent the last 2 weeks doing various different bits and pieces there such as a kitchen and new lights and so on and iv actually enjoyed being an electrician for the first time in the last 3 years. So I guess im looking for advice from the people of electricians forum. Here are some questions i have, if you can answer them id be very greatful...

1: Firstly, with us being in the worst ever recession, Is this really a time to start out on my own?

2: If youve your own business, How are finding it? has the recession had a big impact on you?

3: How did you go about starting up?

4: How much do you charge? do you charge a call out charge?

5: Do you work yourself? or when you started out, did you start with somebody else

Anything else I can think of ill add as i go. And if youve any other advice or ideas id be delighted to hear them. Thanks again

I'm going to start by myself soon as well if work things don't pick up, am sick of 6 weeks here and 8 weeks there, also problems getting paid from agencies in the past and seeing all the things I could do in terms of new ideas etc...
The agencies add a new ticket to the long list of the things they want every week now, and working for agencies you just can't afford to be doing tickets for £500 and £700 a time out of your own pocket, they aint paying for it but they want it all, they can charge out at a higher rate the more tickets you have but they pay you the same and even try to drop that.....

If you do start up working for yourself, I will put some customers in Glasgow your way to start you off.....you don't mind doing retail and Hotels do you?




Also I know that the Agencies read this forum as I have had a smart @rs3 dig directed at me by one of them that decided to phone my mobile...

 

[Parelectrical]

It is hard at first the only reason we started out on our own is down to a client we used to do work through another contractor wanted to use use directly. The only problem with this is you can put all your eggs in one basket. We are slowly building up a number of other clients. Good luck with whatever you decide because there is nothing better IMO than working for yourself.

 

[grantr37]

Before you take the plunge do a business budget to get a handle of all your costs, then add on the gross salary you'd like to earn then divide the total by 200 and this will give you a target day rate. Once you've got this you have to accept you'll not work 200 days in the first 2-3 years - so how will you make ends meet?

The cruel realities of running a business.

very good advice

 

[Rosko1987]

I'm going to start by myself soon as well if work things don't pick up, am sick of 6 weeks here and 8 weeks there, also problems getting paid from agencies in the past and seeing all the things I could do in terms of new ideas etc...
The agencies add a new ticket to the long list of the things they want every week now, and working for agencies you just can't afford to be doing tickets for £500 and £700 a time out of your own pocket, they aint paying for it but they want it all, they can charge out at a higher rate the more tickets you have but they pay you the same and even try to drop that.....

If you do start up working for yourself, I will put some customers in Glasgow your way to start you off.....you don't mind doing retail and Hotels do you?




Also I know that the Agencies read this forum as I have had a smart @rs3 dig directed at me by one of them that decided to phone my mobile...

Cheers Grant, yeah Id take whatever work came my way. I was speaking to a guy the other day whos a heating engineer and was in the same position as we are now. He said it was the best thing hes ever done although he done it 2004 when the economy was in a much better state. He said hes done well through the recession though and advised me to seriously look into it

 

[kingeri]

Have you already got tools, MFT, ladders etc?

 

[Rosko1987]

Yeah, iv started to price it all. Iv currently an Astra and would look to trade it in for a van. Priced a bet lingo for van insurance which came to 600 quid. Ladders and a drill would need to be bought but iv savings I can use for such items. Spoke to business enterprise and iv booked an appointment with them. Anything else I should be looking into for the initial start up?