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

 

[Essexboy7]

you are going to need a couple of drills,leads,tranny that little lot will come to a few hundred.I wish you all the best mate.I use to work for myself and i found the biggest pain in the aris was late payers so i wold say realistically you have to have a couple of grand in the bank or an overdraft in place before you start.

 

[richy3333]

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

Ask an Insurance broker mate to get a good idea. I guess van insurance for your age in Glasgow will be high. Liability insurance less so £100 - £200 range?

 

[richy3333]

Murdoch's advice is good. If you go down that road remember you are a business and have to make money. Work back from what you want to earn and all your costs etc to get a base line. Try and find a unique selling point to find your niche etc. Building up business takes time - years sometimes. Good luck

 

[grantr37]

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?

Go and speak to the Business Gateway next to forbidden Planet in the town centre beside Buchanan Galleries.....they have a tax advice session every Thursday afternoon with people from the tax office there......also provide other help...

 

[OWLelectrical]

got my public liability through the niceic good cover and good price.Just renewed my van insurance through the AA again good price.

 

[Guest154]

remember and keep all ur receipts for everything u buy and claim it back

 

[james the spark]

i started up 18 months ago it aint easy to start with but after a while work just keeps coming your way i started up with 6k and that just about did it bought van tools insurances etc

 

[Guest154]

alright mate how did u get on did u start up for yourself i am thinking of doing the same