Going SELF-EMPLOYED!???

[gassafe]

Hello all,
I am on the verge of going self-employed, I am looking to leave my current employer. I am 23 years old and im Gas safe qualified. I already have all the tools to start the job, i just need to think of a company name and purchase the van.
I enjoy boiler changes and heating systems and am looking to mainly focus in this area of the industry, also general plumbing works cylinders, powerflushing, etc. I dont plan on getting bogged down with bathroom changes =/...
My thoughts are that im currently young enough to give it a go, whilst i still live at home and if all fails, then i can just get back into employment!!

My biggest worry is that i dont have any real contacts, so i would solely rely on advertising till word of mouth picks up! I intend to work my **** off tho and charge a very fair rate to build a loyal customer base.

Please let me know every1's thoughts???

Ben

 

[johnmcginty]

Welcome Gassafe .Well you're clearly qualified enough to start off. How do you mean you live at home? does'nt everyone? Or do you mean you still live with your parents, if so, Wow!.... how does that go down with the ladies! Only teasing mate, seriously that is clearly a massive benefit as your overheads will be massive when you start up. Where abouts in the country are you based as you can make some contacts on here? You can get lots of startup advice from the "government" ( whoever that is ) at the minute as you are under 24 you are also eligible for a grant so hurry up on that one. Don't blow all your dosh on a van and advertise like crazy . Don't know how easily you would go back into employment if it wasn't what you expected as being selfers is a different kettle of fish as payroll. Good luck with it though bud.

 

[oldplumber]

I would stick with my employer for a while at present m8, new government, no primeminister, construction trade dieing, financial catastrophe imminent etc etc, currently my work load has literally died off over the last 3 weeks!!!, try weekends only and evenings and start off small to establish a few customers. omho

JC

 

[johnmcginty]

How much are they paying you atm mate , if you don't mind me asking ? and what are your expectations of self employed pay?

 

[migoplumber]

welcome gassafe,
as said above, you are in a good position to go for it - so do it !
dont buy a new van if you dont have too - just something reliable.
make sure you have good insurance, you will make lots of mistakes (we all do - but the longer your in the trade the better you are at covering them up !! )
instead of advertising try going to your local estae agents/housing associations and see if you can get a foot on the rung there.
biggest thing of all. keep your word - if you say your gonna be there - be there !
communication is really important, ring your client before you set off (also saves you money if they are not in )
keep your prices good ( slightly elevated if anything ) you also have us plumbers to answer too if you start doing jobs on the cheap - just to get customers !!
maybe try doing some subbing for a local to you 'big company' - give them a bell

most of all, good luck - dont lent the negative comments you get on here, get you down.

give me a shout if you get stuck.

 

[gassafe]

To answer Johnmcginty i earned a tad over £22k last year! I dont really have an expectation of pay for when i go self employed yet? Im not planning to go all out for big profiits, I wud like to make a profit in my first year tho!!!

As for the van, im looking to sell my car and just drive the van for work and social? Is this a good idea?? It would leave me around £6-7k to buy a van of my choice. I dont want anything too old or unreliable, i want it to look professional, and plan to get it signwritten (free advertising) I dont get all those self employed plumbers who dont sign write the van??

Thanks for all the feedback soo far!!

 

[oldplumber]

good ideas thus far, no one can afford to run cars and new vans when starting out and i doubt if will pull in £22k in your first yr but if you monitor your costs you should win in the long term ,but as i said now is not a good time to kick off, negative comments but you need to be realistic in what to expect, it aint easy. When i started a few years back i had the advantage of having flats to rent out as well and i know that to do it now without that income would be more than difficult.

jc

 

[Bernie2]

Funnily enough not, many companies do seem to sign write their vans. A clue to why that may be is perhaps sub contracting to bigger companies. The big companies don't like you turning up in a van advertising anything other than themselves.

Imagine a customer getting BG to do a job at their prices and Fred turns up?

Mind you BG may be run off their feet and so want you to act on their behalf.

I once worked for a company who had vans with their name all over it, but had removed them. The reason being, is that the police asked if they could place cameras in the vans to keep an eye on the district they where working in, which at the time was a pretty tough area.

Anyway being good citizens the company said okay.

Unfortunately the locals found out and every one of the vans was "bricked", so from then onward it was all plain white or blue vans.

It also may attract unwanted attention to the vans contents, which can be a problem.

 

[moore]

good luck to you ben - go and see an accountant, they usually have a free hour consultation system, and will advise you on earnings, doing it right etc, as there are many tax benefits to owning a small ltd company, you may even be able to set things up while youre still employed, get your van, and tools, and insurance, and advertising plan!!! - now is a great time to do it, not economically, (government etc) but due to your age, youre only there once mate, and whilst you have the safety net of being at your parents house, take the leap, go and make something of yourself in the plumbing/construction world, - you may find yourself doing bathrooms or fixing toilets at some stage, or even learning to tile!!! - please dont frown at this, "from tiny acorns grow mighty oaks" and its how you build your customer base -i like your work ethic, - GO FOR IT - (i was at the other end of the age scale, and didnt go for it in the earlier years - as wife and kids and mortgage etc and was 43 when started little company, its great, i love it! and im looking to be gas safe in couple years, lots of plans!.....keep in touch, Moore

 

[wnjswozo]

try and save money,dont forget ,1/3 is for tax,1/3 overheads,1/3 profit,
have a min charge,dont work for nothing,be careful pricing,make as many friends as poss at merchants,and there will be ups and downs but stick with it,
some weeks you will earn good money,some weeks nothing thats what you have to plan for.try and build up a 3 month reserve,to cover hols,sickies,unforeseen problems
good luck. what area you in